Amwal Al Ghad - 2012-05-19 15:23:08
Saudi Arabian shares fell to the lowest in almost three months, led by petrochemical companies and banks, as falling oil prices and concern over Europe’s debt crisis prompted bets that fuel demand may drop.
Saudi Basic Industries Corp. (SABIC.AB), the world’s largest petrochemical maker known as Sabic, fell for a seventh day. Al Rajhi Bank (RJHI.AB), the kingdom’s largest bank by market value, declined to the lowest level since Jan. 30. The Tadawul All Share Index (SASEIDX.AB) dropped 1.9 percent 6,966.37, the lowest since Feb. 20, at the 3:30 p.m. close in Riyadh. The 152-member index is up 8.6 percent this year. More»