-- The Saudi stock market is wobbling after a summer rally, with the Riyadh bourse enduring its worst fourth-quarter start in years as regional tensions soar.The Tadawul All Share Index index shed 2.2% in the first three trading days of October, as Israel intensified its campaign against Iran-backed Hezbollah and weighed retaliation for Tehran’s missile attacks.
Jassim Al-Jubran, head of sell-side research at Aljazira Capital, said the market should remain under pressure in the short-term. He sees the Tadawul index falling to as low as 11,380 points — about 5% from the last close — but said it could rally by the same amount if conditions improve in the region.
Brent crude futures have risen on fears of oil supply disruptions, but they remain below $80 a barrel. That’s far off the $96 level the kingdom needs to balance its books, according to the International Monetary Fund. Bloomberg Intelligence puts the so-called breakeven at $112 when considered spending by Saudi Arabia’s sovereign wealth fund known as the PIF.
Sunday with Michel Roux: ‘Where’s the coffee? Good quality coffee. Never instant. I can’t abide instant’ LOS ANGELES — Shohei Ohtani hit a three-run homer in his postseason debut, Teoscar Hernández’s two-run single gave Los Angeles its first lead in a playoff game in two years, and the Dodgers beat the San Diego Padres 7-5 in their NL Division Series opener Saturday.
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