Saudi stock market closes flat at 6,606

10 April 2011

Strong gains in the insurance segment were not sufficient to lift the Riyadh-based Tadawul market which ended flat at 6,606.69 points on Sunday. Weqaya Takaful surged 9.98% to reach SR24.25. According to the Ernst and Young World Takaful Report, which was published earlier in the day, there are 32 Takaful operators in KSA, and they have contributed $3.9bn in 2009. Contributions per Saudi Takaful operator stood at $64m. Shares of Yanbu Cement were the top losers (down 2.40% at SR44.80). Market bellwether Sabic added 0.70%, closing at SR107.50. Eighty-eight shares gained, 39 lost and 17 remained even.

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