Saudi Shares Posts Mix Response

Saudi companies reported mixed response from the investors with shares of many companies either marginally declined or increased during the recent trading. The market is apparently under pressure due to uncertainties prevailing in the global economies especially in the United States and the European countries.

The Tadawul All Share Index ended at 6,523.01 at the 3:30 p.m. close in Riyadh, reporting an marginal increase of 0.2 per cent. Shares of Abdullah A.M. Al-Khodari Sons Co. (ALKHODAR AB), a leading contactor based in Saudi Arabia surged 0.8 per cent to 67.50 riyals. It has announced to pay a dividend of 1 riyal a share for the first half of the year.

Eastern Province Cement Co saw the largest decline of 1.6 per cent on the bourses following 2.9 per cent decline posted by the Saudi maker of building materials.

Saudi Arabian Amiantit Co ended at 16.50 riyals, its lowest price since April 23 while Saudi Automotive Services Co posted 3 percent rise in its shares to 13.90 riyals, its largest increase in two months.

Shares of Saudi Electricity Co. (SECO AB) and Saudi Pharmaceutical Industries & Medical Appliances Corp. (SPIMACO AB) surged 0.7 per cent and 2.1 per cent respectively.