Tadawul exchange regains momentum

03 October 2010

Following a weak start on Saturday, the Saudi Arabian Tasi stock market index gained 0.37% Sunday, to close at 6,420.70. Saudia Dairy & Foodstuff Co. posted the largest advance (up 6.58% at SR40.50 followed by National Petrochemical Company (gaining 4.23% at SR18.50). Zain KSA, the Saudi unit of Kuwait's Zain telecom operator, was the second most liquid share, gaining 1.24% at SR8.15. According to Sico bank, Qatar Telecom is interested in buying Zain KSA, a move which could clear a regulatory hurdle for UAE's Etisalat. On September 28, Etisalat expressed interest in acquiring 46% in the monther company Zain.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications