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AME Info - Economy and Finance News

Daily, Dubai
Real estate related economic and financial news covering the MENA region.

Tadawul market extends losing streak while market breadth improves

May 07, 2012
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In Riyadh, the Saudi Stock Exchange's benchmark measure Tasi closed 0.25% lower at 7,358.87 points as oil prices declined below $97 per barrel (U. S. crude). Oil lost 6.42% during the last four weeks on worries over a global economic slowdown. Sabic, the global petrochem producer, ended off 0.25% at SR99.50. Zamil Industrial slipped 0.66% to SR29.90. Earlier in the day, Zamil anounced that its subsidiary Zamil Steel Buildings Vietnam has been awarded a SR60m ($16m) contract from PT Caterpillar Indonesia, a heavy machinery and equipment manufacturing company located in Cileungsi, Bogor, Indonesia, to fabricate and supply Pre-engineered Steel Buildings for the new Caterpillar Batam facility in Indonesia. Market breadth improved as 51 shares advanced while 86 declined.