Saudi Arabia's bourse declines for a second session from last Wednesday's 10-day high as investors cut risk
with the approach of a long holiday.
Banks are lower with the sector's index down 0.4 percent. Heavyweight Al Rajhi Bank sheds 0.4 percent,
Arab National Bank falls 1.2 percent and Bank Albilad loses 1.8 percent.
Saudi Telecom Co (STC) weighs on the market with a 3.5 percent drop after missing third-quarter profit estimates. "We believe higher operating expenses, particularly outside of Saudi, and a poor performance on the non-operating line led to the net income miss," NBC Capital says in a note.
No comments:
Post a Comment