2012-01-14 - AMEinfo.com | Saudi Arabia | Latest News - Saudi Arabia: The Saudi Tadawul All Shares Index fell at the opening but gained momentum over Saturday's trading session and closed 0.13% higher at 6,494.77 points. Sabic fell a quarter per cent to SR94.25. While most sector indexes added value, the Tadawul segment for banks and financial services declined 0.40%. The downgrade of nine out of 17 Euro zone countries (inclusing France and Austria) by rating agency Standard and Poor's weighed on the gauge. Qassim Cement Company closed unchanged at SR73. Earlier in the day, Qassim Cement said it posted a consolidated net profit of SR145.89m for the fourth quarter of 2011 compared to SR112.48m for the same quarter the year before. "The consolidated net profit in twelve months was posted at SR552.7m compared to SR500.55m for the same period of the previous year which shows an increase of 10.41%," Qassim said in a e-mailed statement. Saudi Hollandi Bank ended 0.68% lower at SR29.30, after the lender reported a net profit during the twelve months of SR1.032bn compared to SR790m last year, an increase of 30.6. However, Saudi Hollandi's net profit in Q4 2011 fell 22.7% quarter-on-quarter, resulting in SR231m.  

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