29/07/2012
Leading analysts expect a lukewarm performance for the Saudi stock market during the next week due to poor trading during the month of Ramadan and the absence of internal stimuli after the end of the season announced quarterly results.
Analysts believe that the attention of traders will focus on news relating to the health of the global economy, particularly developments in the debt crisis of the euro area to determine the impact on petrochemical prices and demand in the sector to acquire a large percentage of market capitalization.
The Saudi index ended trading on Saturday, down 05.0 per cent to close at 6667 points. Turnover amounted to 6.4 billion riyals, (2.1 billion dollars). Trading in the next week will be very weak and liquidity at a four billion riyals is expected. It will see the index fluctuations in a narrow range with a tendency to negative. But any changes in the European and global economy in general will have a direct impact on stocks, especially petrochemicals, SABIC and the market in general.
