Saturday 26 June 2010

Dar Al Arkan Real Estate, Taiba Holding, Qassim Cement: Saudi Stock Movers - Bloomberg


The Saudi Tadawul All Share Index declined as much as 0.6 percent to 6,306.2, the lowest intraday level since June 23. The following stocks rose or fell in the Saudi stock market. Symbols are in parentheses.

Dar Al Arkan Real Estate Development Co. (ALARKAN AB) dropped as much as 1.6 percent to 12.6 riyals, the lowest intraday level since March 2009. Saudi Arabia’s biggest property company by market value swapped $225 million of its fixed-rate Islamic bonds into floating-rate notes to cut borrowing costs.

Taiba Holding Co. (TIRECO AB) decreased as much as 2.4 percent, its steepest intraday drop in a month, to 16.15 riyals. The Saudi real-estate developer in Medina said it won’t pay a second-quarter dividend because of a payment delay from the kingdom’s Ministry of Finance.
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1 comment:

  1. UnknownSaturday, July 03, 2010 6:07:00 am

    Real estate is not going to see price rise in the near future . Instead, the value may decline in the next 2 to 4 months. So investors are advised to be careful before investing.

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