Al Rajhi Bank was one of the biggest contributors to the Tadawul All Share Index’s 1.4% loss.
Al Rajhi Bank and National Commercial Bank, which together account for about a quarter of the index, were the biggest contributors to the Tadawul All Share Index’s 1.4% loss. Egyptian stocks also declined, dragging the main index down by the most this year. “Al Rajhi posted record quarterly profit, but it’s also trading close to our target price” of 74 riyals, he said. Its shares fell 1.9% to 73.8 riyals as of 1:54pm in Riyadh.
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