Saudi stocks rise .04% on firm energy

JEDDAH – Saudi Arabia stocks were higher after the close on Wednesday, as gains in the Energy & Utilities, Financial Services and Media & Publishing sectors led shares higher. At the close, stock benchmark Tadawul All Share Index added 0.04%. The best performers of the session were Saudi Indian Company Insurance, which rose 4.96% or 0.65 points to trade at 13.75 at the close. Meanwhile, National Com Bnk added 4.95% or 1.90 points to end at 40.30 and Salama Cooperative Insurance Co was up 4.28% or 0.40 points to 9.75 in late trade. The worst performers of the session were Saudi Marke which fell 3.89% or 0.90 points to trade at 22.25 at the close. Dar Alarkan Real Estate Development declined 3.88% or 0.20 points to end at 4.95 and Takween Advanced Industries was down 3.67% or 0.40 points to 10.50. Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 111 to 42 and 16 ended unchanged. Shares in Takween Advanced Industries fell to all time lows; down 3.67% or 0.40 to 10.50. Crude oil for December delivery was down 1.64% or 0.82 to $49.14 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 1.77% or 0.90 to hit $49.89 a barrel, while the December Gold contract fell 0.04% or 0.45 to trade at $1273.15 a troy ounce. — SG/Agencies