Saudi Equity Movers: Saudi Telecom, Saudi Cable, Al-Mojil Group

The Tadawul All Share Index (SASEIDX) fell 0.2 percent to 6,091.85 at 11:18 a.m. in Riyadh today.

The following stocks rose or fell in Saudi Arabia’s market.

Abdullah Al Othaim Markets (AOTHAIM) tumbled 1.8 percent, the largest intraday loss since Sept. 25, after the operator of supermarket chains said third-quarter profit declined to 36 million riyals ($9.6 million) from 45.9 million riyals in the year-earlier period.

Mohammad Al-Mojil Group (MMG) decreased 2.9 percent to 19.80 riyals, the lowest intraday price since Aug. 24, after the provider of services to the construction industry said third- quarter net income fell to 10.9 million riyals from 13.5 million riyals a year earlier.

Saudi Cable Co. (SCACO) plunged 4.5 percent to 11.65 riyals, the lowest intraday price since March 19. The cable and reel manufacturer said its third-quarter net loss narrowed to 14.8 million riyals from 71.5 million riyals a year earlier.

Saudi Telecom Co. (STC) dropped 5 percent, the sharpest intraday loss since Aug. 6, to 34.30 riyals. Saudi Arabia’s largest phone company by market value said third-quarter profit dropped 53 percent to 1.56 billion riyals as it booked foreign exchange losses and set aside money for provisions.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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