Saudi stock market soars one more time, while market breadth turns negative

18 March 2012

The Tadawul bourse rose 0.20% Sunday to reach 7,615.69 points, improving its position slightly above the close of September 2008, whose level the measure reached Saturday. The strong rise of the Saudi gauge reminds investors of the hey-days prior to the financial crisis. Earlier in the day, the IMF's Managing Director Christine Lagarde said in Beijing the global economy was on a 'recovery path' but risks remain such as high debt levels in developed countries or the rise in oil prices. Out of 150 shares listed in Riyadh, 54 advanced and 75 declined Sunday.

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