Wednesday trading: Leejam Sports was the top gainer, rising 5.7%

Saudi stocks rose the second consecutive day on Wednesday, and fitness company Leejam Sports was the top gainer. (Leejam Sports)
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Updated 30 December 2020
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Wednesday trading: Leejam Sports was the top gainer, rising 5.7%

  • Tadawul All Share Index (TASI) closed 0.2 percent higher at 8,760 points

RIYADH: Saudi stocks rose the second consecutive day on Wednesday, with the benchmark Tadawul All Share Index (TASI) gaining 0.2 percent, or 13 points, to close at 8,760 points, the highest close since July 2019.

However, total trading reached SR7.8 billion ($2.08 billion), the lowest in nearly two months. Advance-decline ratio stood at 80:100.

Arabian Centres closed 0.4 percent higher at SR25.05 ($6.68), as the firm’s board of directors recommended 5 percent dividend for H1 FY 20/21.

BinDawood gained 2.6 percent to SR118 ($31.47). The company’s subsidiary, Danube Company for Foodstuffs and Commodities, opened its 47th branch in Jeddah.

Leejam Sports was the top gainer, rising 5.7 percent to SR77.70 ($20.72).

Banking major Al Rajhi fell 0.1 percent to SR74 ($19.73), while blue chip SABIC shed 0.2 percent to SR101.60 ($27.09).

Yansab lost 1.8 percent to SR65.10 ($17.36). The company’s shareholders approved amending articles of association during the EGM held on Dec. 29, 2020.

Naseej was the top decliner, shedding 4.5 percent to SR102.80 ($27.41).

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QatarEnergy halts LNG production over Iran attacks: statement 

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QatarEnergy halts LNG production over Iran attacks: statement 

DOHA: Qatar’s state-run energy firm said on Monday it had halted liquefied natural gas production following Iranian attacks on facilities at two of its main gas processing bases. 

“Due to military attacks on QatarEnergy’s operating facilities in Ras Laffan Industrial City and Mesaieed Industrial City in the State of Qatar, QatarEnergy has ceased production of liquefied natural gas (LNG) and associated products,” the company said in a statement. 

Earlier, Qatar’s defence ministry said one Iranian drone “targeted an energy facility in Ras Laffan Industrial City, belonging to QatarEnergy,” referring to the firm’s onshore gas processing base 80 km (50 miles) north of Doha. 

Another “targeted a water tank belonging to a power plant in Mesaieed,” the statement said, referring to an area 40 km south of the Qatari capital, which is also a key site for Qatar’s natural gas production. 

There were no reports of casualties, the defence ministry added. 

The Gulf state is one of the world’s top liquefied natural gas producers, alongside the US, Australia and Russia. 

Qatar shares the world’s largest natural gas reservoir with Iran. 

State-run QatarEnergy estimates the Gulf state’s portion of the reservoir, the North Field, holds about 10 percent of the world’s known natural gas reserves. 

In recent years, Qatar has inked a series of long-term LNG deals with France’s Total, Britain’s Shell, India’s Petronet, China’s Sinopec and Italy’s Eni among others.