الرئيسية
1223 GMT - Saudi Chemical falls to a 10-day low
after going ex-dividend, while other stocks are also active on
dividend play, helping lift the kingdom's index.
Shares in Saudi Chemical decline 4.6 percent due to a cash
dividend of 2 riyals per share for the third-quarter.
National Company for Glass Industries advances 4.6
percent after proposing a cash dividend of 2.25 riyals per share
for 2011, according to a bourse statement.
The main index climbs 0.2 percent to 6,396 points,
up in eight of nine last sessions.
Petrochemical stocks weigh down the index with National
Industrialization and Saudi Arabian Fertilizers
slipping 0.3 percent each.
"For the year-end, on the institutional side you'll see fund
managers adjusting their portfolios," says Asim Bukhtiar, head
of research at Riyad Capital. "They will book profits to lower
their costs and get ready for the year ahead."
"As global economic uncertainty continues, investors will
look more at companies with domestic focus, like telecoms."
Zain Saudi extends gains, rising 0.9 percent and
Saudi Telecom Company adds 0.3 percent.
Jarir Marketing Company climbs 1 percent to 146
riyals, adjusted for a one-share-for-two-held bonus, which it
issued on Sunday.
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0623 GMT - Abu Dhabi's Aldar Properties falls
after saying its board will discuss asset sales at its Dec. 28
meeting, weighing on the emirate's index.
Shares in the developer fall 1.2 percent. It slumped to a
record low last Wednesday, amid talk it will delist from the
exchange, which was dismissed by management.
Abu Dhabi's index slips 0.2 percent to 2,345 points,
heading towards Thursday's 33-month low.
Dubai's property stocks edge higher. Contractor Arabtec
climbs 0.7 percent and Emaar Properties adds
0.4 percent. The index slips 0.09 percent to 1,327
points. The market is on a downtrend, hovering near its lowest
level since 2004.
after going ex-dividend, while other stocks are also active on
dividend play, helping lift the kingdom's index.
Shares in Saudi Chemical decline 4.6 percent due to a cash
dividend of 2 riyals per share for the third-quarter.
National Company for Glass Industries advances 4.6
percent after proposing a cash dividend of 2.25 riyals per share
for 2011, according to a bourse statement.
The main index climbs 0.2 percent to 6,396 points,
up in eight of nine last sessions.
Petrochemical stocks weigh down the index with National
Industrialization and Saudi Arabian Fertilizers
slipping 0.3 percent each.
"For the year-end, on the institutional side you'll see fund
managers adjusting their portfolios," says Asim Bukhtiar, head
of research at Riyad Capital. "They will book profits to lower
their costs and get ready for the year ahead."
"As global economic uncertainty continues, investors will
look more at companies with domestic focus, like telecoms."
Zain Saudi extends gains, rising 0.9 percent and
Saudi Telecom Company adds 0.3 percent.
Jarir Marketing Company climbs 1 percent to 146
riyals, adjusted for a one-share-for-two-held bonus, which it
issued on Sunday.
-------------------------------------------------------------
0623 GMT - Abu Dhabi's Aldar Properties falls
after saying its board will discuss asset sales at its Dec. 28
meeting, weighing on the emirate's index.
Shares in the developer fall 1.2 percent. It slumped to a
record low last Wednesday, amid talk it will delist from the
exchange, which was dismissed by management.
Abu Dhabi's index slips 0.2 percent to 2,345 points,
heading towards Thursday's 33-month low.
Dubai's property stocks edge higher. Contractor Arabtec
climbs 0.7 percent and Emaar Properties adds
0.4 percent. The index slips 0.09 percent to 1,327
points. The market is on a downtrend, hovering near its lowest
level since 2004.