Saudi Arabian shares were little changed on the first day of the week as investors came back from holidays and geared up for third-quarter earnings.
Banque Saudi Fransi and Saudi British Bank, known as SABB, led losses while Al Rajhi Bank, the kingdom’s biggest publicly traded lender by market value, gained. The Tadawul All Share Index declined 0.3 percent at 1:12 p.m. in Riyadh to 6337.54.
“The drop in oil yesterday is causing the market to stay relatively flat today,” said Anas Kassem, an investment analyst at Ajeej Capital in Riyadh. “Investors continue to come back from their Eid holidays and start positioning themselves for third quarter numbers.” The Muslim holiday of Eid-al-Fitr ended Sept. 13.
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