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Tadawul market eases 0.40%

07 November 2010

On Sunday, the Saudi Stock Exchange failed to keep its bullish momentum from Saturday, closing at 6,436.21 (off 0.4%). Sabic, after hitting a its highest price level since May 2010, ended 1.20% lower at SR103. Samba Financial Group weakened 1.59% to finish at SR61.75. "Samba remains one of our top picks in KSA as the bank has, besides Al Rajhi Bank, the highest collective provisioning level (...) and the highest coverage on overdue loans (73.3% as of H1 2010)", says Credit Suisse analyst Mohamad Hawa.

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