Energy

Saudi Arabia’s index is at 15-year highs

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This picture taken December 12, 2019 shows a view of the sign showing the logo of Saudi Arabia’s Stock Exchange Market (Tadawul) bourse in the capital Riyadh.

FAYEZ NURELDINE | AFP | Getty Images

Saudi Arabia’s benchmark index is holding steady at 15-year highs, despite breaking a 10-day winning streak on Sunday.

The Tadawul All Share Index fell 1.23% on Sunday and was down 0.76% on Monday to trade at 12,047.04 Saudi riyals by midday London time, but is still up around 7% since the start of the year.

“Sentiment in Saudi Arabia is bullish due to brisk economic activity, sequential gains in corporate profits, lucrative IPO activity, a strong real estate market, and very high oil prices,” said…



Source cnbc.com

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