Tadawul stays almost unchanged

Updated 14 November 2012
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Tadawul stays almost unchanged

JEDDAH: The contest between bulls and bears ended without any significant change at Saudi stock market yesterday as Tadawul index retreated to 6,828.19 points, which was roughly where it started the session.
The Tadawul All-Share Index (TASI) wavering in the North-South within a range of 29 points, closed just below the break-even line losing a nominal 1.34 points or 0.02 percent.
All sectors performed in a mixed fashion, with seven sectors accumulating an aggregate of 147 points and eight sectors trimming 243 points collectively. One of the best performing sectors was Retail which rose to 51 points or 0.68 percent for the day.
The media and publishing sector changed its position from top performer of previous day to the worst performing sector of the day, down 3.86 percent. The sector shedding its entire gains of previous day closed at 2,778.62.
Five out of top 10 heavy weight stocks closed in the upward territory. Saudi Arabia Fertilizers Co. (SAFCO) and Kingdom Holding performed well relatively, achieving a daily growth of 1.4 percent and 1.23 percent respectively.
The market breadth was slightly negative, with 63 stocks witnessing advances and 70 others marking a decline.
Insurance companies led the top gainer and loser charts at Tadawul. Sanad Insu-rance and ACE Arabia Insu-rance made the biggest jumps among all Saudi companies, rising by 8.84 percent and 8.43 percent respectively. Sanad with trades over 6.3 million shares also positioned itself among the most active stocks, closing the day at SR 32 and ranking second.
On the contrary, Amana Cooperative Insurance suffered worst of all equities for the third straight day, showing a further reduction of SR 17.5 or 9.97 percent to close at SR 158.


Samsung Electronics reports 52% jump in Q1 net profit

Updated 26 April 2018
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Samsung Electronics reports 52% jump in Q1 net profit

  • Profits bump thanks to strong demand for memory chips, smartphones
  • Net profit for the January to March period hit 11.69 trillion won ($10.8 billion)

SEOUL:  Samsung Electronics reported a 52 percent jump in its first quarter net profit Thursday, thanks to strong demand for memory chips and its latest flagship smartphone.
Net profit for the January to March period hit 11.69 trillion won ($10.8 billion), up from 7.68 trillion won a year earlier, the company said in a regulatory filing.
Operating profit was a record 15.64 trillion won, in line with the estimate of 15.6 trillion won suggested in a preliminary guidance report released earlier this month.
“The semiconductor business posted solid earnings — 11.55 trillion won in operating profit on a 20.78 trillion won revenue — on strong demand for memory chips,” the company said in a statement.
Total sales grew 19.8 percent to 60.56 trillion won and Samsung expects the memory business to maintain its strong performance in the second quarter.
But generating overall earnings growth across the company will be a challenge due to weakness in the display panel segment and a decline in profitability in the mobile business in the face of rising competition, it said.