Unruffled in Riyadh, Saudis Stick With Stocks as Crude Tumbles
Saudi Stocks Resist Oil Slide
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The Saudi stock market is showing its mettle in the face of the latest oil rout that drove Brent into a bear market in July.
The kingdom’s Tadawul All Share Index has retreated 4.2 percent since the end of June, compared with declines of 15 percent in Brazil in dollar terms, 11 percent in Russia and almost 10 percent in Nigeria. Brent, the benchmark oil grade against which Saudi crude is priced, has tumbled 21 percent in that period.