Business | Markets
Saudi stocks fall to lowest since March 2004
Saudi stocks fell sharply on Saturday, ending at their lowest level since March 2004, with blue-chips Saudi Basic Industries Corp (SABIC) and Al-Rajhi Bank closing almost limit down.
- Agencies
- Published: 18:48 November 15, 2008
Riyadh: Saudi stocks fell sharply on Saturday, ending at their lowest level since March 2004, with blue-chips Saudi Basic Industries Corp (SABIC) and Al-Rajhi Bank closing almost limit down.
Highlights of Saturday's trading:
- The all-share index lost 7.4 per cent to end at 5,079 points, its lowest closing level since late March 2004, according to data from the bourse website.
- SABIC ended 9.96 per cent lower at 54.25 riyals, its lowest close since mid-August 2004, according to bourse data.
- Rajhi closed 9.77 per cent lower at 60 riyals, its lowest close since March, 2004.
More from Markets
More from Business
Business Editor's choice
-
‘Wrong Way' Krugman
The source of our economic malfunction lies with government-mandated bank regulations
-
Greek exit could make Eurozone stronger
Departure will show limits of bailouts and allow remaining members to act much more like a unit
-
UAE upholds values of free trade
Recently released statistics confirm an established fact, namely that of the UAE embracing the free trade principle in general and imports in particular
