Saudi Shares Fall Second Day in Four on Faltering U.S. Recovery - Bloomberg

Saudi Arabia’s benchmark index fell the second day in four on concern a slowdown in the U.S. may derail global growth, and as crude oil prices fell.

Al Rajhi Bank (RJHI), Saudi Arabia’s second-largest publicly traded lender by assets, slipped a second day this week. Saudi Basic Industries Corp. (SABIC), the world’s biggest chemicals maker, decreased 1.4 percent. The Tadawul All Share Index (SASEIDX) declined 0.7 percent to 6,429.60, at 11:46 a.m. in Riyadh.

“U.S. economic indicators continued to show that the recovery may be stalling and global markets fell on that news,” said Fuad Aghabi, a director at Ajeej Capital in Riyadh. “The Saudi market is reacting to the uncertainty surrounding the world economy with lower volumes typical of Ramadan trading.”

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