Lacklustre Tadawul bourse closes unchanged

April 16, 2014 6:57 pm

The Riyadh-based Tadawul All Share Index finished flat at 9,504.33 points on Wednesday, April 16. After hawkish comments by NATO general secretary, Anders Fogh Rasmussen, on ongoing border tensions between the Ukraine and the Russian Federation, investors swapped gold and oil for equity. Oil (Brent) hit a six-week high, while gold climbed to a three-week high at $1,300 per ounce. Market bellwether, SABIC, slipped by 0.18 per cent to SAR113.50. Bupa Arabia for Cooperative Insurance surged by 9.84 per cent to hit SAR63.75. Weqaya Takaful lost the most, finishing off 7.90 per cent lower at SAR24.95.

Gérard Al-Fil