Arab Today, arab today saudi stocks hit 4month high
Last Updated : GMT 18:07:16
Arab Today, arab today
Arab Today, arab today

Saudi stocks hit 4-month high

Arab Today, arab today

Arab Today, arab today Saudi stocks hit 4-month high

Jeddah - Arabstoday

Saudi Arabia’s shares hit a four-month high, boosted by petrochemicals and banking stocks as attractive dividends draw investor interest. The index rose 0.66 percent to close Wednesday at 6,330.01 points, hitting its highest since Aug. 6. Bellwether Saudi Basic Industries Corp (SABIC) rose 1.3 percent. Saudi International Petrochemical (Sipchem) gained 2.6 percent in heavy trading after it proposed a cash dividend of SR1.25 per-share ($0.33) for 2011, according to a bourse statement. Traders now believe gas subsidies to petrochemical producers will remain at current levels for the next year, having previously thought these subsidies could be cut, said Turki Fadaak, head of research at Al Bilad Investment. “There is talk that contracts will be extended,” he said. Saudi insurance firm Allianz SF jumped 9.3 percent after saying its founding shareholder Allianz France International will merge with Allianz France, according to a bourse statement. “Even though it has no impact on the financials of the company, the market has a very positive response,” Fadaak said. Saudi Hollandi Bank rose 2.2 percent. The lender said it would ask shareholders to approve a capital increase by 20 percent through a bonus share issue. It also proposed a cash dividend of SR1-per-share for 2011. Elsewhere, Kuwait’s benchmark ended 0.2 percent lower at 5,812 points, while Oman’s bourse ended flat. Dubai’s benchmark slumped to its lowest close in seven years in muted trading activity and Abu Dhabi’s bourse also fell amid a lack of catalysts. SAUDIGAZETTE .

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saudi stocks hit 4month high Arab Today, arab today saudi stocks hit 4month high

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saudi stocks hit 4month high Arab Today, arab today saudi stocks hit 4month high

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday