Feb 26 2006 |
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Saudi Arabia: Tadawul Rises Slightly as Banking Index Takes a Leap
JEDDAH, 26 February 2006 -- Despite the foiled attack on the oil processing facility at Abqaiq in the Eastern Province, the Saudi stocks Surged to a record high yesterday. The big jump in the Banking Index sent the Tadawul All-Share Index (TASI) soaring to an all-time high of 20,634.86. TASI only gained 10.02 points yesterday in SR28.26 billion market turnover.The Banking Index rose 1,286.39 points to close at 49,010.31 despite fall in the share prices of Saudi Holandi Bank, SABB and Banque Saudi Fransi. Al-Rajhi Bank shares edged higher by 5 percent to SR4,116, followed by Bank AlJazira 4.99 percent to SR2,021 and Bank Albilad by 3.57 percent to SR842.
The Industrial Index rose slightly as shares of Saudi Basic Industries Corp., Yanbu National Petrochemical Co. (YANSAB), the newly listed company, Savola Group, Saudi Industrial Investment Group, Saudi Arabia Fertilizers Co. and National Industrialization Co . increased while shares of all other companies fell yesterday.
The services sector was in the red as shares of all companies dropped except shares of Aseer Trading, Toursim & Manufacturring Co.
By Khalil Hanware
© Arab News 2006
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