Business | Markets
Samba and Banque Saudi shares drag Saudi Arabian index down
Saudi Arabian shares declined for a third day, led by Banque Saudi Fransi and Samba Financial Group.
- Bloomberg
- Published: 23:18 July 12, 2008
Riyadh: Saudi Arabian shares declined for a third day, led by Banque Saudi Fransi and Samba Financial Group.
The Tadawul All Share Index retreated 0.3 per cent to 8,971.32 at 1.02pm in Riyadh. The index has lost 5.7 per cent during its three-day losing streak.
Banque Saudi Fransi, the Saudi lender partially owned by a unit of Credit Agricole SA, slid 2.4 per cent to 81 riyals.
Samba, the second-largest bank, dropped 1 per cent to 73.25 riyals.
The Tadawul is the only Arab exchange monitored by Bloomberg that's open on Saturdays.
National Gypsum Co. added 1.6 per cent to 62 riyals. The Saudi Arabian maker of building materials said second-quarter net income rose 8.4 per cent to 32.4 million riyals on higher sales.
Saudi Ceramic Co. jumped 8.8 per cent to 132.75 riyals. The maker of bathroom fixtures and electric water heaters said second-quarter net income surged 65 per cent to 51.7 million riyals.
Saudi International Petrochemical Co climbed 1.4 per cent to 36.75 riyals. The petrochemical maker known as Sipchem said second-quarter net income advanced 34 per cent to 134 million riyals, helped by higher prices.
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