New Laws of Commercial Registration and Trade Names take effect on Thursday    Civil Defense warns of heavy rains across Saudi Arabia until Monday    Saudi Exchange suspends trading of seven companies over financial disclosure delays    New fleet of 76 public transport buses starts operation in Jeddah on Tuesday Environmentally friendly electric buses introduced for first time    Foreign investors are allowed to engage in real estate business outside Makkah and Madinah Commercial speculation should not be the purpose of real estate transaction    EU preparing 'further countermeasures' to protect its interest, von der Leyen says    Tesla sales plunge after backlash against Elon Musk    Musk's X is suing India, as Tesla and Starlink plan entry    Israel announces expansion of military operation in Gaza to seize 'large areas' of land    US cancels visa of Nobel Peace Prize winner Oscar Arias    Danish prime minister refutes US claim on Greenland on visit to the Arctic territory    Aubameyang fires Al Qadsiah into King's Cup final with stoppage-time winner over Al Raed    Cristiano Ronaldo joins Fatal Fury: City of the Wolves    Saudi Arabia welcomes trilateral border treaty between Tajikistan, Kyrgyzstan, and Uzbekistan    Swedish table tennis legend Jörgen Persson appointed head coach of Saudi national team    Danilo Pereira fires Al Ittihad into King's Cup final with dramatic stoppage-time double    Screen time in bed linked to insomnia, study finds    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Saudi creatives shine at Jeddah's Fawanees Nights with art, fashion, and storytelling    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







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Saudi Arabia stocks lower as Transport, Retail and Cement sectors decrease
Published in The Saudi Gazette on 16 - 09 - 2015

JEDDAH — Saudi Arabia stocks were lower after the close on Tuesday, as losses in the Transport, Retail and Cement sectors led shares lower. At the close of trading, the Tadawul All Share Index lost 0.03%.
The best performers of the session on the Tadawul All Share were The Company for Coop. Insurance, which rose 8.38% or 7.25 points to trade at 93.75 at the close.
Meanwhile, Takween Advanced Industries added 5.62% or 2.30 points to end at 43.20 and The Mediterranean&Gulf Insurance Co was up 5.48% or 1.35 points to 26.00 in late trade.
The worst performers of the session were Etihad Atheeb Telecommunication, which fell 4.35% or 0.25 points to trade at 5.50 at the close. United Int Transportation Company declined 3.35% or 1.60 points to end at 46.20 and Arab National Bank was down 3.30% or 1.00 points to 29.30.
Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 87 to 79.
Shares in United Int Transportation Company fell to 52-week lows; falling 3.35% or 1.60 to 46.20.
Crude oil for October delivery was up 0.68% or 0.30 to $44.30 a barrel. Elsewhere in commodities trading, Brent oil for delivery in November rose 0.50% or 0.23 to hit $47.59 a barrel, while the December Gold contract fell 0.21% or 2.30 to trade at $1105.40 a troy ounce.
Elsewhere in the Gulf, markets in United Arab Emirates rose as local telecommunications company Etisalat climbed 1.8 percent in its highest daily trading volume on record, having opened up to foreign and institutional investors.
The Abu Dhabi stock exchange, where Etisalat is listed, edged up 0.4 percent.
As the biggest listed company in the UAE, Etisalat is now very likely to secure a place in emerging market indexes, attracting global funds. Previously, only local retail investors could buy the stock.
Dubai's benchmark stock index rose 0.7 percent, supported by a rebound in a number of stocks after several days of declines. Property developer DAMAC jumped 3.5 percent ahead of a shareholder meeting later in the day which will vote on the firm's first cash dividend since it listed in Dubai in January.
Other Gulf markets were soft. Qatar edged down 0.3 percent, Kuwait fell 0.6 percent and Oman was down 0.4 percent.
Meanwhile, US stocks rose on Tuesday after data showed retail sales continued to climb in August but investors remained cautious ahead of this week's Federal Reserve meeting.
US consumer spending appeared to grow at a healthy pace halfway through the third quarter, pointing to solid domestic demand that could persuade the Fed to raise interest rates.
Analysts said an interest rate hike would remove the uncertainty that has dogged the market for several weeks.
After the retail data, traders raised their bets the Fed would raise rates later this week to 27 percent from 23 percent on Monday, according to CME Group's FedWatch program.
“Uncertainty about the Fed's likely decision continues. If there is no rate hike on Thursday, it could also give a signal that the Fed has some concerns about the health of the economy,” said Christian Stocker, strategist at UniCredit in Munich. Seven of the 10 major S&P sectors were up. — SG/Agencies


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