Amwal Al Ghad - 2012-06-16 14:08:14
Saudi Arabia’s benchmark stock index dropped to its lowest level since January after state television reported that Prince Nayef, the kingdom’s interior minister and crown prince, had died.
The Tadawul All Share Index (SASEIDX) fell as much as 2.7 percent to 6,565.82, the lowest intraday level since Jan. 31. The index pared its drop to 0.8 percent to 6,690.36 at 2:28 p.m. in Riyadh. Earlier, the measure had gained as much as 1.1 percent.
Saudi Basic Industries Corp. (SABIC), the world’s biggest petrochemicals maker, fell 0.6 percent to 89.75 riyals ($23.93). Al Rajhi Bank (RJHI:AB), the kingdom’s largest lender by market value, dropped 2 percent to 72.25 riyals ($19.27), the biggest decline in two weeks. More»