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Sunday, 11 September 2011

Saudi index ends near flat; UAE falls as property drags - ArabianBusiness.com

Saudi Arabia's ended nearly flat, with investors waiting for Monday's open on global bourses before committing more money to the local market following recent gains.

Zain Saudi rose for a second-day, up 0.8 percent, after Kingdom Holding said it would complete due diligence on its joint $950m bid to buy a quarter-stake in telecoms operator by the end of September. Kingdom gained 0.7 percent, also up for a second day.

The benchmark ended higher for a third session, up 0.04 percent to close at 6,141 points, trimming its 2011 losses to 7.2 percent.