MARKET TALK: Saudi Mkt Ends -0.1%; Petchem Stocks Weigh

Wednesday, Aug 08, 2012

1258 GMT [Zawya Dow Jones]--Saudi's Tadawul market ends -0.1% at 6953.59; giving up early-session gains as petchem stocks weigh. "Initially we thought the market was dropping because of oil but there hasn't been much trending in the last few days so I don't think that's happening, and I don't think its tracking global equities either," says Tariq Al Alaiwat, an equity analyst at NCB Capital. Reckons that "it's just the market mood as Ramadan draws to a close investors are wanting to shut their eyes ahead of the Eid holiday." (iman.dawoud@dowjones.com; Twitter: @ZDJnews)

(END) Dow Jones Newswires

08-08-12 1306GMT