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Emirates NBD comments lift Saudi bourse

: Wednesday, June 04 - 2014 @ 18:44

The Riyadh-based Saudi Arabian Tadawul All-Share Index advanced by 0.62 per cent to close at 9,838.86 points on Wednesday, June 4.

Arjuna Mahendran, chief investment officer at Emirates NBD in Dubai, says: “We are positive on the Saudi Arabian equity benchmark – Tadawul All Share Tasi Index – which has reasonably valued stocks, with high dividend payouts that offer diversification. Increased listings will continue to provide breadth, with a decent IPO pipeline under way (open only to Saudi nationals and corporates).”

Consequently, Saudi market bellwether SABIC, the biggest petrochemicals firm in the world, added 0.15 per cent to finish at SAR115.75.

Gérard Al-Fil

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Wednesday, June 4- 2014 @ 18:44 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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