Shares in Saudi Arabia, the only Gulf Arab stock market open on Saturdays, fell to the lowest level in more than a month as investors awaited quarterly results and after oil had its biggest weekly decline in three months.
Saudi Basic Industries Corp. (SABIC), the world’s largest petrochemicals maker known as Sabic, dropped for the fifth day. Samba Financial Group (SAMBA), Saudi Arabia’s second-biggest listed bank by market value, lost 1.1 percent. The Tadawul All Share Index (SASEIDX) retreated 0.4 percent to 7,031.04, the lowest level since Aug. 15, at the close in Riyadh.
“Investors are waiting for third-quarter results,” Turki Fadaak, head of research at Albilad Investment Co. in Riyadh, said in a telephone interview today. “There are mixed views for the petrochemical sector.”
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