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JEDDAH – Saudi Arabian shares retreated the most in two months, leading a decline in Gulf markets, after global equities fell on concern the global economic recovery is faltering.

The stock benchmark Tadawul All Share Index declined 0.23 percent, closing at 6,018.27 points.

Oil declined for a fifth day.

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JEDDAH – Saudi Arabian shares rose the most in a month, after US and European markets advanced and oil prices rallied on a pledge by Fed Chairman Ben S. Bernanke to maintain the US economic recovery.

The stock benchmark Tadawul All Share Index rose 0.9 percent to close at 6,055.54 points on Saturday, biggest gain since July 27.

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WASHINGTON – The US economy grew at a much slower pace this spring than previously estimated, mostly due to the largest surge in imports in 26 years and a slower buildup in inventories.

The countrys gross domestic product – the broadest measure of the economys output – grew at a 1.6 percent annual rate in the April-to-June period, the Commerce Department said Friday. Thats down from an initial estimate of 2.4 percent last month and much slower than the first quarters 3.7 percent pace. Many economists had expected a sharper drop.

The widening trade deficit subtracted nearly 3.4 percentage points from second quarter growth, the largest hit from a trade imbalance since 1947, the government said.

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NEW YORK/LONDON/TOKYO – World stock markets mostly traded in a narrow range Thursday with little new data on the way to spur investors. Japanese stocks were the exception, enjoying a strong rebound amid mounting hopes that further stimulus measures will be announced soon.

The European markets took their cue from Wall Street, where stocks plunged after US officials said the number of Americans filing new weekly claims for jobless benefits jumped to 500,000, the highest level in nine months.

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JEDDAH – Gulf stock markets ended mixed on Wednesday as stocks in Europe and China fell the first time this week, damping investor appetite for riskier assets. Crude oil fell to a more than one-month low.

Saudi Arabias benchmark Tadawul All Share Index slipped 0.66 percent to 6,121.06, the lowest in four weeks. Saudi Basic Industries Corp., the worlds largest petrochemicals maker, lost 1.7 percent to SR85.50.

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JEDDAH – Gulf markets closed the week lower amid pressure from the global market slump, a gloomy outlook for the world economic recovery and falling oil prices, financial analysts said Friday.

“Investors are still very cautious about entering the market,” said Mohamed Khaled, risk manager at Prime Emirates.

“Markets here are lower because of what is happening in the global markets, there is some aggressive selling because of concerns of the economy – crude oil also went down – which all affect us here,” Khaled said.

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NEW YORK/LONDON – World stock markets stumbled Thursday as a surprise rise in US new jobless claims added to increasing gloom over the economic outlook, with investors looking for safety as risks to growth mount.

Dealers said news that US jobless claims rose slightly, instead of falling as was expected, topped a dismal series of figures which have stoked fears that the economic recovery is in serious trouble.

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JEDDAH – Saudi Arabias stock benchmark Tadawul All Share Index (TASI) dropped 1.21 percent on Wednesday to close at 6,187.97 – its largest decline since June 29. Further losses are forecast as the Kingdoms bourse tracked stuttering world markets and oil.

World oil prices fell sharply Wednesday in line with tumbling global equity markets as investors set aside a positive International Energy Agency report on demand.

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JEDDAH – Banking and petrochemical stocks lead Saudi shares to a higher close on Saturday after positive market data lifted global stocks on Friday. The benchmark Tadawul All Share Index closed 1.6 percent higher at 6,187.39 points.

The shares in petrochemicals giant Saudi Basic Industries Corporation (SABIC) ended two per cent higher while heavyweight Al Rajhi Bank added 1.7 percent. The banking index closed 2.3 percent higher while the petrochemicals index rose 1.9 percent.

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JEDDAH – Gulf stock markets ended the week mixed as investors continued to come under psychological pressure from global markets and indecisive indicators of world recovery.

However, the markets were expected to rebound next week in response to gains scored by Wall Street and European bourses on Thursday and Friday following reports of strong earnings by US and European businesses and the record jump in German business sentiment.

Regional markets were forecast to retain their psychological linkage with global markets for some time to come.

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