Saudi Arabia’s exchange gets mixed response

Saudi Arabia’s market saw ups and downs with stocks of majority of companies getting mixed response from the investors amid uncertainties prevailing in the market due to numerous reasons. The Tadawul All Share Index rose 0.3 per cent.

Abdullah A.M. Al-Khodari Sons Co, leading contractor of Saudi Arabia, saw 4.3 per cent decline in shares. The firm announced to pay a dividend of 1 riyal a share to the stockholders for the first half of the year.

Al Jouf (JADCO) Agricultural Development Co, producer of olive oil and dairy products, reported 26 per cent increase in profit. Its shares rose 1.1 per cent to 26.60 riyals. Eastern Province Cement Co, a leading building material maker, posted a 2.9 percent drop in second-quarter profit to 101 million riyals and its shares saw marginal increase of 0.4 per cent.

Shares of Jazan Development Co dropped 0.3 per cent while that of National Agriculture Development Co rose 3 percent to 27.80 riyals.

Saudi Arabian Amiantit Co, leading construction material maker, reported fall in net profit and its stocks decline in second- quarter profit to 38.9 million riyals.