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Tuesday, 27 December 2016

Tadawul closes at highest level since December 3 last year | The National

Tadawul closes at highest level since December 3 last year | The National:
"Saudi Arabia’s index rose to its highest point for the year as the market continued to react to news of the country’s lower than expected budget deficit.

The Tadawul All Share Index closed up 1.27 per cent on Tuesday at 7,257.17 – its highest since December 3 last year – as investors continued to react to last week’s news from the Saudi finance ministry that the government would post a deficit of 297 billion Saudi riyals (Dh290bn) for this year, 9 per cent lower than its initial estimate for the year and an 19 per cent reduction on 2015’s record shortfall.


It was led by gains from the car company Saudi Automotive Services and the advertising company Tihama."

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