Tadawul: Tourism stocks stay in the limelight

Updated 25 May 2014
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Tadawul: Tourism stocks stay in the limelight

Saudi Arabia’s benchmark Tadawul All-Share Index (TASI) ended its Sunday's trading up over 21 points, closing at 9,772.48.
Mid cap remained prominent among market cap indices. Only five out of Tadawul’s 15 sectors witnessed a negative change, dropping 428.4 points for the day. Remaining twofold sectors closed in the green territory, accumulating an aggregate of 619 points.
Hotel & Tourism sector advanced 306 points or 1.35 percent over the day, posting the biggest gains among all sectors.
On the other hand, Media and Publishing continued its downward fall, marking another dip of 6.44 percent. Tihama Advertising & Public Relations Company was among the top decliners, showing excessive losses of 9.96 percent.
Heavyweights closed in a mixed fashion, where Saudi Electricity rose 0.31 percent and SABB fell 0.71 percent. Market breadth with advance-decline ratio of 0.86:1 remained slightly negative.
Saudi Hotels & Resort Areas Co. and Methanol Chemicals Company showed the best performance among all Saudi stocks, appreciating by 5.95 percent and 5.42 percent respectively. City Cement shares raced to a new all-time high, closing at SR28.66.
Saudi Kayan Petrochemical Company was a key gainer among most active stocks, surging 3.13 percent and closing at SR16.77. Its 52.5 million shares worth SR867.4 million were liquidated into the market. This turnover reflects a relative market share of 13.6 percent on volume basis and 7.7 percent in terms of liquidity.
Tadawul volume set sold approximately 387 million shares, a decrease of 12.5 percent as compared to previous level. But the volume was greater than 50-day average by same percentage.
Equity turnover reached to SR11.2 billion, an increase of 8.5 percent over the 50-day average value.


Audi fined $925 million in Germany over diesel emissions

Updated 9 min 53 sec ago
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Audi fined $925 million in Germany over diesel emissions

FRANKFURT, Germany: German authorities have fined luxury automaker Audi €800 million ($925 million) for selling cars with excessive diesel emissions.
Prosecutors in Munich said Tuesday that the fine was imposed because Audi neglected its oversight duties in selling cars with engines made by it and group partner Volkswagen that did not conform to legal limits on harmful emissions. The case covered some 4.9 million Audi cars sold in Europe, the US and elsewhere between 2004 and 20018.
In September 2015 parent company Volkswagen admitted rigging some 11 million diesel autos with software that enabled them to pass emissions tests even though emissions in real driving were much higher.
The prosecutors’ statement said the resolution of the case did not affect an investigation of individual Audi executives.