Tadawul bourse dips 1.13%

07 July 2010

Saudi Arabia's Tadawul All Share Index ended at 6,065.32 points. Red Sea Housing landed at the bottom of the charts by losing 4.29%, closing at SR46.90. Only the Tadawul building and construction index (up 0.17%) gained among the industry segments. Shares of Saudi Ceramic surged 4.89%, finishing at SR139.50. Saudi Cement (0.22% lower at SR45.20) reported preliminary earnings for the second quarter of SR113m, down by a quarter on a year-on-year basis. For the last six months the net earnings declined 22% to SR237m. Saudi Cement added in its statement published on the Tadawul website that the reason for the decline was fierce competition, along with a weakened exporting business.

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