Saudi stock exchange suffers heavy losses after Yanbu’s attacks

RIYADH, Feb. 23 (YPA) – The main stock exchanges’ shares in Saudi Arabia on Sunday continued to record heavy losses for the second day in a row, affected by the recent attacks on Aramco facilities in Yanbu.

The index of Saudi stock exchange fell 0.3 percent, as the shares of Saudi Telecommunications Company declined 2 percent, while the shares of the National Commercial Bank, the largest bank in the Kingdom, dropped to 1.3 percent.

On Friday, Saudi Aramco, located in the industrial city of Yanbu, was attacked by missiles and drones of the Yemeni armed forces. The attacks targeted the port of Yanbu, which exports three million barrels of oil per day, in addition to targeting of an oil export terminal and a natural gas plant.

YPA