THE WRAP ยท MON, NOV 9
10,106.72 โฒ 0.90%
Tadawul All Share Index (TASI)
Up about 90 points on Monday, winning back all of Sunday's drop and closing above 10,100.
Banks rose 1.6%, the main driver. Utilities gained 2.1%, financial services 1.8% and real estate 1.6%.
Technology services fell 1% and commercial services 0.8%, the weakest groups.
Some 179 stocks rose and 80 fell. About 4.3 billion Riyal ($1.1 billion) changed hands, up from 2.7 billion Riyal on Sunday.
โฒ WHY THEY GAINED
Jeddah holding company Anaam +9.95% ยท SR11.93
Hit the daily limit with no company news on Monday, and has yet to report third-quarter results. Last month it said a plan to pay 51.3 million Riyal in zakat and tax dues over 16 years would lift those results.
Retail group Fitaihi +7.77% ยท SR2.08
Rose with no new company news. Last week it reported a wider third-quarter loss of 2.9 million Riyal, with revenue down 19%.
Power and telecom tower maker Al Babtain +7.44% ยท SR52.00
Reported on Sunday that third-quarter profit rose 17% to nearly 149 million Riyal. Nine-month profit is up 42%, helped by towers, poles and lighting.
โผ WHY THEY LOST
Food distributor Almunajem โ9.13% ยท SR49.98
Third-quarter profit, reported on Monday, slipped 1% from a year earlier to 31.5 million Riyal. It fell 63% from the second quarter on weaker sales and thinner margins.
Saudi Paper Manufacturing โ5.95% ยท SR49.00
Third-quarter profit, reported on Sunday, rose 40% from a year earlier to 20 million Riyal. It fell 60% from the second quarter as raw material and freight costs squeezed margins.
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WHAT TO WATCH
Whether the rebound holds after debris from an attempted attack damaged Aramco's tower in King Abdullah Financial District on Sunday. Read the story.
Whether banks can extend Monday's 1.6% gain and keep the index above 10,100.
Homebuilder Retal's shareholders vote on Dec 3 on issuing 55 million new shares to buy into Ajdan.
Data: Mubasher, Argaam.
