Hope and fear as tourists trickle back to Kashmir town after attack    Spain and Portugal scramble to restore power as officials chase cause of outage    Israel spy chief to step down after row with Netanyahu exposes deepening rifts    Saudi, Omani foreign ministers visit Rub' Al-Khali border crossing    From his own resources... Luminous lessons in leadership and humanity    Commerce Ministry recalls 6,500 Genesis cars due to risk of fire    Royal Institute of Traditional Arts implements Saudi-Chinese cultural exchange program    Localization in Saudi military industries rises to 19.35%    Logistics park for vehicles worth SR300 million to be set up at Dammam port    HONOR KSA expands its presence with new flagship Experience Store in Riyadh HONOR's first flagship store in KSA provides visitors with a premium experience, exciting offers and free services    Prince Sultan University launches first bachelor's program in language and media    Putin announces three-day Russian ceasefire in Ukraine from 8 May    Al-Falih: Eastern Province hosts 700 investment opportunities worth SR330 billion    Rock & Roll Hall of Fame picks Outkast but not Oasis    Duran leads Al Nassr past Yokohama Marinos into AFC Champions League Elite semi-finals    Al Ahli cruise past Buriram into AFC Champions League Elite semi-finals    Saudi orchestra to perform at Sydney Opera House in May    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    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    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi, Kuwait stocks decline as others rise
Published in The Saudi Gazette on 29 - 12 - 2009

Gulf markets ended mixed on Monday, with UAE, Oman, Bahrain and Qatar markets managed to record gains while Saudi Arabia and Kuwait posted losses.
Saudi Arabia's stock benchmark Tadawul All Share Index (TASI) fell 1.23 percent to 6,177.75 on Monday, with just nine stocks rising on the day compared to 114 that dropped.
All sectors ended lower except for Cement, with Southern Cement the day's big gainer, up 2.26 percent to SR67.75.
Kuwait index fell 0.8 percent to 7,057 points.
Banks dragged the Saudi index .2 percent lower after central bank data showed a decline of more than 12.5 percent in national banks' profitability in the October-November period.
Hollandi Bank fell 2.2 percent, Saudi British Bank slipped 2.9 percent and Samba Financial Group declined 1.9 percent.
Kuwait's largest Islamic lender, Kuwait Finance House, fell 3.4 percent despite signing a US real estate deal on Sunday. The index slipped 0.8 percent to 7,057 points.
“The major trend is down,” said a research note from NBK Capital.
Logistics firm Agility ended 1.5 percent lower after the company said it was in talks with the US government regarding a settlement in a fraud case but that a deal was yet to be reached.
Elsewhere in the region, Dubai's index advanced 3.4 percent to 1,829 points as Abu Dhabi's benchmark climbed 1.2 percent to 2,728 points.
Qatar's benchmark rose marginally 0.01 percent, to 7,030 points while Oman's index ended 0.3 percent higher to 6,197 points.
Bahrain's index gained 0.3 percent to close at 1,449 points.
Real estate and construction stocks led by Arabtec helped lift the UAE markets on Monday, as other Gulf markets ended mixed. Dubai-based Arabtec gained 14.8 percent, surging on speculative buying. It has surged more than 20 percent in the past two trading days.


Clic here to read the story from its source.