Saudi stocks higher at close

JEDDAH – Saudi Arabia stocks were higher after the close on Tuesday, as gains in the Retail, Hotels & Tourism and Building & Construction sectors led shares higher. At the close, the stock benchmark Tadawul All Share Index rose 0.73%. The best performers of the session on the Tadawul All Share were Saudi United Cooperative Insurance, which rose 7.72% or 1.85 points to trade at 25.80 at the close. Meanwhile, SABB Takaful added 7.30% or 2.00 points to end at 29.40 and Arabia Insurance Cooperative Co was up 6.44% or 0.75 points to 12.40 in late trade. The worst performers of the session were Arabian Cement Co, which fell 7.93% or 3.30 points to trade at 38.30 at the close. The National Shipping Co. declined 6.24% or 2.60 points to end at 39.10 and Trade Union Cooperative Insurance was down 3.76% or 0.70 points to 17.90. Rising stocks outnumbered declining ones on the Saudi Arabia Stock Exchange by 130 to 35 and 6 ended unchanged. Shares in Saudi United Cooperative Insurance rose to 52-week highs; up 7.72% or 1.85 to 25.80. Meanwhile, crude oil for February delivery was up 1.64% or 0.86 to $53.23 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March rose 1.34% or 0.75 to hit $56.61 a barrel, while the February Gold contract rose 1.45% or 17.35 to trade at $1213.55 a troy ounce.