Saudi stocks dipped 1.6 percent on Monday October 8, the first day of trading following the launch of US-led strikes against Afghanistan. The NCFEI all-shares index, which shed more than 10 percent in the first two weeks after the September 11 terror attacks on the United States before stabilizing last week, closed trading at 2,229.54 points, shedding 36.69 points.
The index is now down 28.5 points, or 1.2 percent, on the start of the year. The Saudi market closed last week up just 0.3 percent, the first rise after almost three weeks of losses.
On Saturday, the interbank market began trading with a new electronic system in a bid to increase transparency and attract new investors. The NCFEI is the most capitalized in the Arab world at more than $70 billion, but operates only as an interbank market system. — (AFP, Riyadh)
© Agence France Presse
© 2001 Mena Report (www.menareport.com)
