Persian Gulf Stocks: Kingdom Holding, Southern Province Cement
Saudi Arabia’s Tadawul All Share Index (SASEIDX) climbed less than 0.1 percent to 6,275.92 at the 3:30 p.m. close in Riyadh. Abu Dhabi’s ADX General Index (ADSMI) fell 0.8 percent to 2,393.28, the lowest since March 2009.
The following shares were active in the Persian Gulf region. Stock symbols follow company names.
Advanced Petrochemicals Co. (APPC) gained for the second time this week, advancing 2.1 percent to 29.9 riyals after the Saudi Arabian petrochemical maker said it will pay a 1 riyal-a- share dividend for the second half and one bonus share for every 6.25 held.
Kingdom Holding Co. (KINGDOM) surged to the highest level since June 21, gaining 5.1 percent to 8.25 riyals. The company and its chairman Saudi billionaire Prince Alwaleed bin Talal Alwaleed agreed to buy a $300 million stake in Twitter, the microblogging service with about 100 million users. Alwaleed owns 95 percent of Kingdom Holding.
Southern Province Cement Co. (SOCCO) rose to the highest level since March 2010, climbing 1.3 percent to 77.50 riyals. Saudi Arabia’s biggest cement producer by market value said fourth-quarter net income will rise to 244 million riyals ($65 million) from 165 million riyals.
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