Tadawul market opens higher, ends lower

04 July 2010

The Tadawul All Share Index (Tasi) fell for the sixth consecutive day. The Tasi opened positively but was forced back by selling pressure which mounted on financial and energy shares. Gulf General Cooperative Insurance Company was the top gaining share, ending 5.92% higher at SR32.20. Since the start of 2010 Gulf General surged 21.50%. But this performance does not represent the entire sector as the Tasi insurance segment posted the second highest loss (down 21.66%) among all sectors on a year-to-date basis. Petrochemical bellwether Sabic declined 1.19% and finished at SR83.00. Filing & Packing Materials Manufacturing Co. jumped three percent, closing at SR26.80. According to Amman-based investment bank Jordinvest, Saudi Arabia's non oil exports showed a growth of 21% to SR11.4bn ($3.04 bn) in March 2010 from SR354m($94.4mn) in March 2009.

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