Saudi Stocks Decline Slightly

Author: 
Khalil Hanware, Arab News
Publication Date: 
Mon, 2006-02-20 03:00

JEDDAH, 20 February 2006 — Saudi stocks retreated yesterday after a record rise on Saturday. The Tadawul All-Share Index (TASI) closed 45.62 points down at 19,870.97. The market turnover reached SR44.82 billion. The Banking Index was lower as the only gainer in this sector was Bank AlJazira. Shares of all other banks declined. The petrochemical giant Saudi Basic Industries Corp.’s shares fell slightly to SR1,844 as focus of investors shifted to Yanbu National Petrochemical’s Co. (YANSAB). YANSAB shares expected to soar on debut when trading begins today. Shares of Saudi Electricity Co. dropped 2.66 percent to SR183. In the telecom sector, shares of Saudi Telecom Co. and Etihad Etisalat fell to SR1,153 and SR760, respectively.

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