• TASI index ending on a month low,Kuwait benchmarks slip


    TASI index ending on a month low, Kuwait benchmarks slip

    Saudi Arabia's TASI index ended on a month low as investors booked profits
    from petrochemicals, with Yanbu National Petrochemical Company weighing.
    The petrochemical index lost 1.8 percent, as Yansab shed 5 percent. SABIC lost
    2.3 percent ahead of first-quarter earnings. Both stocks fell on rumors
    spurred by SABIC result's leakage, analysts said.
    The benchmark ended 1.1 percent lower, its lowest close since March 29.

    Kuwait's benchmark fell after the death of the Kharafi Group's
    chairman.Kuwait's benchmark fell 0.7 percent to a week low and Zain dropped
    3.3 percent, after Nasser Al-Kharafi, 67, the billionaire chairman of Kuwait's
    Kharafi Group, died in Cairo from a heart attack.
    The Kharafi Group was a major shareholder in Kuwaiti telecoms carrier Zain 
    and was also the main proponent of a failed $12 billion stake sale in the firm
    to UAE's Etisalat.

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