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Saudi Equity Movers: Etihad Atheeb, Methanol, Rabigh, Sahara

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Jan. 22 (Bloomberg) -- The Tadawul All Share Index dropped less than 0.1 percent to 6,652.11 at the 3:30 p.m. close in Riyadh.

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

Etihad Atheeb Telecommunications Co. (EAT AB) dropped 2.3 percent to 14.55 riyals. The Saudi Arabian phone company said its net loss for the quarter ended Dec. 31 widened to 143.6 million riyals ($38.3 million) from 66.8 million a year earlier.

Methanol Chemicals Co. (CHEMANOL AB) fell 1.7 percent to 14.90 riyals. The producer of methanol derivatives also known as Chemanol posted a 30 percent decline in fourth-quarter profit to 4 million riyals from 5.71 million a year earlier.

Rabigh Refining and Petrochemicals Co. (PETROR AB) jumped 1.8 percent, the most in two weeks, to 22.85 riyals. The joint venture between state-owned Saudi Aramco and Sumitomo Chemical Co. of Japan reported a fourth-quarter profit of 52.6 million riyals after a loss of 323.7 million riyals a year earlier.

Sahara Petrochemical Co. (SPC AB) dropped 1.6 percent to 21.95 riyals, a fifth decline. The manufacturer of chemicals said fourth-quarter profit fell to 43.65 million riyals from 52.24 million riyals.

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

To contact the editors responsible for this story: Shaji Mathew at shajimathew@bloomberg.net; Dick Schumacher at dschumacher@bloomberg.net

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