Arab Today, arab today saudi stocks tumble the most in 10 months
Last Updated : GMT 21:09:51
Arab Today, arab today
Arab Today, arab today

Saudi stocks tumble the most in 10 months

Arab Today, arab today

Arab Today, arab today Saudi stocks tumble the most in 10 months

Dubai - Bloomberg

Shares in Saudi Arabia, headed for the biggest slump in 10 months after crude fell to the lowest since October as employment reports in the US and Europe signalled fuel demand may tumble. Al Rajhi Bank, the kingdom’s largest bank by market value, retreated to the lowest since January and Saudi Basic Industries Corp, or Sabic, the world’s biggest petrochemical maker, slid 2.4 per cent, the most since April 15. The Tadawul All Share Index tumbled 3.2 per cent, set for the biggest drop since August 6, to 6,753.64 at 12.24pm in Riyadh. The measure lost 7.7 per cent in May, the biggest monthly decline in two years. Oil dropped 3.8 per cent to $83.23 a barrel in New York after the Labour Department said American employers added the fewest workers in a year in May. Oil prices are down 24 per cent from this year’s closing high in February. Brent dropped below $100 (Dh367) for the first time since October. Gulf Arab oil exporters, including Saudi Arabia and the UAE, supply about a fifth of the world’s oil. “Oil prices are down to low levels and this is one of the reasons why the market is down,” said Riyadh-based Turki Fadaak, head of research at Albilad Investment Co. “The global economic reports and Europe’s debt problems are also pressuring the market, but this is more of a psychological pressure than anything else, because the link between the Saudi economy and Europe are weak.” The jobless rate in the euro region, which has been in the grips of a debt crisis for three years, reached a record high, of 11 per cent in April and March. European stocks declined for the fourth week in five and US shares tumbled, erasing the Dow Jones Industrial Average’s 2012 gain. Al Rajhi declined 3.4 per cent to 70.25 riyals. Sabic fell to 91.25 riyals, poised for the lowest close since November 27. Saudi Arabia’s stock exchange is the only Arabian Gulf bourse operating on Saturdays.

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 tumble the most in 10 months Arab Today, arab today saudi stocks tumble the most in 10 months

 



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 tumble the most in 10 months Arab Today, arab today saudi stocks tumble the most in 10 months

 



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 Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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