Petrochemicals drag Tadawul index 0.66% lower

18 August 2010

As oil price retreated below $76, Riyadh-based Tadawul exchange dipped 0.66% and closed at 6,121.06 points. Petrochemical bellwethers Sabic (down 1.72% at SR85.50) and Yansab (3.76% lower at SR35.80) weighed on the leading GCC market. Insurers also had a bad day, with the exception of Trade Union Cooperative Insurance Co. which topped the charts and surged 8.21% to SR22.40. The share faced its next chart-technical resistance at SR24.90.

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