Saudi Equity Movers: Southern Province, Al-Khodari Sons, Medgulf
The Tadawul All Share Index (SASEIDX) climbed 0.1 percent to 6,804.03 at the 3:30 p.m. close in Riyadh.
The following stocks were active in Saudi Arabia’s market.
Abdullah A.M. Al-Khodari Sons Co. (ALKHODAR) rose 0.5 percent to 53 riyals after the Saudi Arabian contracting company won a 57.2 million-riyal ($15 million) government order.
Mediterranean & Gulf Insurance & Reinsurance Co. (MEDGULF AB) gained 1.6 percent, the largest increase since Feb. 5, to 32.20 riyals. The board of the insurer known as MedGulf recommended paying a cash dividend of 2 riyals a share for 2011.
Southern Province Cement Co. (SOCCO) climbed 1.2 percent, its biggest rise this month, to 87.75 riyals. Saudi Arabia’s second-largest cement producer by market value started trial production on a second line at its Tihama plant in the south of the kingdom. Commercial production on the 5,000 tons-a- day capacity line will start in March.
Saudi Kayan Petrochemical Co. (KAYAN) rose 0.3 percent to 16.25 riyals, its highest level since Feb. 5. The unit of Saudi Basic Industries Corp. said output has resumed gradually in olefins and high-density polyethylene plants after the completion of unscheduled maintenance due to a power failure.
To contact the reporter on this story: Mourad Haroutunian in Riyadh at firstname.lastname@example.org
To contact the editor responsible for this story: Shaji Mathew at email@example.com