Saudi exchange rate

Saudi Arabia’s stock market gets hit by broad sell off on lower oil price
Panoramio - Photo of The National Commercial Bank, Jeddah, Saudi

On its first trading session in June, the Saudi Arabian Tadawul All-Share Index was hit by a broad sell off Saturday, after the price of oil fell to a nine month low and stocks at Western exchanges were slammed the day before.

The Saudi benchmark index TASI closed 4.22 percent lower, closing at a four-month bottom at 6, 681.18. A whopping 150 out 151 traded shares declined, while insurance firm Allianz Saudi Fransi Cooperative was the only stock that gained, closing 0.26 percent higher at 95.25 Saudi riyal (24.76 U.S. dollars).

On Friday, disappointing employment figures in the United States pulled the price for the “black gold” down to 83 dollars (U. S. crude), the lowest level since mid-September 2011. During the last four weeks, oil prices fell by 21 percent. Stock indexes in New York, Frankfurt and London posted Friday their worst trading days in 2012 so far.

In the United States, the May employment report for the non- farming sector showed that the world’s largest economy created only 65, 000 new jobs, but economists were expecting some 150, 000.

The Saudi equity bourse is the only Gulf Arab market whose trading week starts on a Saturday. All other exchanges will start trading on Sunday. With the Saudi market, a regional bellwether market place, beginning June’s trading deeply in the red, the signs for Dubai, Abu Dhabi, Doha, Manama, Kuwait and Muscat are everything but positive.

Source: Saudi Riyal Foreign Exchange Rates and SAR Money Transfer Services

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OIL Prices vs. The Speculators

2008-06-25 09:25:51 by WhatIThink

The argument that speculation is making oil so highly expensive is somewhat bullshit:
But let's be clear. Speculators are NOT the problem. Speculators did not cause the collapse in Mexican and North Sea oil production. Speculators are not the driving force behind rising demand for oil in the emerging economies – which include the Middle East. Speculators did not cause the peak in Russian production either. And they are certainly not the reason the current Saudi production of 970,000 barrels a day is not an all-time high. Speculators may cause higher volatility in the oil market, but it is the oil producers that ultimately determine the long-term price trend.
If you need proof of this, look at those commodities which are not traded on the futures exchange, and are not...

Less risky even more rewarding

2007-05-20 00:51:10 by PanamaCityBeach

I like IDS and high yield stocks because they fluctuate but give you yield in the mean time and because a yield becomes so attractive it takes away much of the over selling factor and much risk especially in industries that are secure like OIL. The conroys pay over 10-14% yield even after the foreign witholding tax.
Canadian dollar is strong so the exchange rate is making the income even better then a few months ago.
Conroys I like :
PGH top yield over 15% before witholding tax.
Then HTE 13%+ (I bought at 16% yield)
CNE at 11-12% and PWI at 13%
CNE used to pay higher yields then they started paying less then 75% of it's earnings to distributions so they could reinvest and grow and expand more then some of the others.
IDS are interest security...

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