Iran Tensions Bring Same Tension To Arab Stocks

tag:blogger.com,1999:blog-133254603220013410.post-24966781199828054502008-07-11T18:35:00.000-07:002008-07-11T18:47:32.255-07:002008-07-11T18:47:32.255-07:00Iran Tensions Bring Same Tension To Arab Stocks<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://bp2.blogger.com/_YqYaSbT8xWI/SHgNKEM80jI/AAAAAAAABQE/UQ2re_EcvB4/s1600-h/abu-dhabi-market_thumb.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer;" src="http://bp2.blogger.com/_YqYaSbT8xWI/SHgNKEM80jI/AAAAAAAABQE/UQ2re_EcvB4/s320/abu-dhabi-market_thumb.jpg" alt="" id="BLOGGER_PHOTO_ID_5221938234514002482" border="0" /></a> Heightened <a href="httphttp://www.cbc.ca/world/story/2008/07/11/oilrecord.html">tensions in Iran</a> brought tensions to <a href="http://http//www.arabianbusiness.com/524363-iran-tensions-continue-to-weigh-on-gulf-markets?ln=en">Gulf Arab stoc</a>ks across the region. Here are the following stocks highlights: Saudi index sharply lower.... Saudi Arabia The Saudi index plunged 3.18 percent, its biggest one-day fall since February 9, to close below 9,000 points for the first time since April 1. It finished at 8,998.28 points. Shares of Saudi Basic Industries Corp (SABIC) and Samba Financial Group which plummeted 5.11 percent and 4.52 percent respectively. Al Rajhi Bank fell 2.31 percent. It reported a net second-quarter profit of 8.2 percent on Tuesday. “The political tension is overshadowing any positive financial results,” said Hisham Tuffaha, head of investment research at Bakheet Investment Group. Almarai Co, the largest dairy company in the Gulf Arab region by market value, was one of the few stocks to end higher, advancing 0.61 percent, after it posted a 42.3 percent rise in second-quarter net profit. <a href="httphttp://www.arabtimesonline.com/client/pagesdetails.asp?nid=19615&ccid=12">more...</a> Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0