Saudi Tadawul market dips on decelerating U. S. employment growth
2012-04-07 - AMEinfo.com | Saudi Arabia | Latest News
Saudi Arabia: In the wake of weakening U. S. job creation, the Tadawul All Share Index (Tasi) fell 0.42% Saturday, closing at 7,862.51 points. On Friday, the U. S. department of labour announced the world's largest economy added 120,000 jobs in March, down from 200,000 in the previous months, triggering disappointments among investors and weighing on the Dow Jones Industrial (off 0.11%). Shares of Saudi Arabia's Yanbu Cement closed 0.31% lower at SR80.25. Earlier in the day, Yanbu Cement reported net profit during the first quarter was SR145m compared to SR101m for the corresponding quarter of the previous year, representing an increase of 43.6%. Qarter-on-quarter profits fell by 5.2%. Fifty-three shares advanced, while 89 declined. Around 543m shares were traded, valued at SR12.9bn. View full article...