Shares in Saudi Arabia declined for a second day ahead of quarterly company financial results and on concerns that Europe’s debt crisis is worsening.
Al-Rajhi Bank (RJHI), the kingdom’s largest lender by market value, dropped for a fourth day, while Samba Financial Group (SAMBA) fell for the second day. National Industrialization Co. (NIC) slipped to the lowest level since July 25. The Tadawul All Share Index lost less than 0.1 percent to 6,874.15 in Riyadh at 12:11 p.m. Saudi companies start reporting third-quarter results this week.
“We expect a weaker morning session as third-quarter results weigh on investors’ minds,” Asim Bukhtiar, head of research at Riyad Capital, said in an e-mail. “Subdued international sentiment will guide local direction.”
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