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Article: Insurance shares rise on speculation.
- Article from:
- Arab News (Jeddah, Saudi Arabia)
- Article date:
- February 5, 2009
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Byline: Adnan Jaber
RIYADH: The return of speculations on the shares of small companies have driven up prices of insurance stocks in the Saudi bourse by 12 percent during transactions this week but analysts said it was a negative indication for the market.
The Tadawul All-Share Index (TASI) rose slightly to close at 4,794.56 points this week against 4,789.49 points last week, scoring just five points.
However, the total value of transactions declined by 3.5 percent to reach SR25.7 billion compared to SR28.3 billion last week.
Hisham Abu Jamie, head of investment at Bakheet Investment Group, said they had started noticing the return of ...