JEDDAH: Saudi Arabian shares were little changed on the first day of the week as international markets started extended holidays and investors prepare for the release of fourth-quarter results in the Kingdom. The Tadawul All Share Index swung between gains and losses Saturday, later to close down 0.01 percent at 6609.14 points, the lowest since Dec. 21. Banks, led by Samba Financial Group, drove declining stocks, while petrochemicals led by Saudi Arabian Fertilizer Co., a unit of Saudi Basic Industries Corp., paced gaining shares. The 146-company gauge has climbed 8 percent this year. “The market is flat on extended holidays and light trading in international markets until the new year,” Asim Bukhtiar, an equity analyst at Riyad Capital, said in Riyadh. “Holiday shopping has encouraged an optimistic outlook for 2011.” Samba declined 0.8 percent, the most since Dec. 20, to SR59.5. Riyad Bank lost 1.1 percent to SR26.4. SABIC retreated 0.2 percent, the most since Dec. 22, to SR105.25.
