Jul 05 2007 |
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Value of Saudi shares traded falls 43%
Riyadh: The value of traded shares in Saudi Arabia for the first half of 2007 has dropped by 43.49 per cent compared to 52.58 per cent during the same period last year, said a report released by the Saudi capital Market Authority ( CMA ).The value of traded shares reached 1.113 trillion Saudi riyals this year compared to 1.488 trillion riyals in the same period in 2006, the biannual CMA report said.
The report added that the total number of shares traded reached 33.65 billion this year compared to 39.29 billion shares for the same period in 2006, a decline of 14.35 per cent. It added that the total number of transactions executed dropped by 20.41 per cent to 38.95 million compared to 48.94 million for the same period last year.
The report said that during the first half of 2007, nine new companies were listed on the Saudi stock market. They were: Advanced Polypropylene Co , Al Abdul Lateef Industrial Investment Company , Malaz Cooperative Insurance and Reinsurance Co , the Mediterranean and Gulf Insurance and Reinsurance Co , Saudi Vitrified Clay Pipes Co , SABB Takaful Co , Saudi IAIC Cooperative Insurance Co , SABB Takaful Co , Saudi Kayan Petrochemical Co and Arabian Shield Insurance Company .
The report added that during the same period six companies were added to the market index. They were: Al Babtain Power and Telecommunication Co, Fawaz Al Hokair Co, APPC, Al Abdullatif, Malaz and Gulf Insurance.
The report noted that in the first half of this year Falcom Financial Services, EFG - Hermes KSA, Jadwa Investment, Rana Investment Company and Saudi Swiss Securities joined the Saudi Stock Exchange to provide financial brokerage services.
The Tadawul All-Share Index closed on June 30 at 6,969.72 compared to 13,145.26 last year.
By Mariam Al Hakeem
© Gulf News 2007
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