ICEC

Saudi Tadawul Index Falls 0.74%

The Saudi Stock Exchange saw it market gauge the all-share index (TASI) falling 0.74% Monday, closing at 7,525.17 points. Ongoing worries over the Euro zone debt crisis and over a not so soft landing of China’s economy weighed on the sentiment.

Lower oil prices, (U. S. crude off over 1.6% at $102) also mitigated the TASI’s strong start into the week last Saturday.

While Sabic slipped half a percentage point to SR102.75 ($ 27.40), Banque Saudi Fransi closed flat at SR 38.90 ($10.37). Earlier in the day, the lender said the sale of the share fractions which resulted from a capital increase from SR 7.2 billion ($ 1.92 billion) to SR 904 billion ($ 241.07 billion) during the extraordinary shareholders meeting held on 7.4.2012 was completed. Twenty-nine shares advanced, while 110 declined.

Some  544k shares were traded, valued at SR 10.6 billion ($ 2.83 billion).

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