Tadawul Shares Flat

Saudi Arabia’s Tadawul All Share Index closed flat as 74 shares advanced and 68 of them declined. Domestic-focused shares were some of the best performers, with electronics retailer United Electronics jumping 6.5%, Reuters reported. Shares of the company have been volatile since it swung to a net profit in the first quarter from a net loss in the same period last year. Banking shares were generally weak with National Commercial Bank down 0.3%. On Monday, most stock markets closed down with volumes low as geopolitical risk kept institutional funds away, but Abu Dhabi’s energy company TAQA kept rising after the government increased its stake in the company last week.