JEDDAH — Saudi shares fell for the first time in seven trading sessions Saturday, led by petrochemical companies and banks, following US markets lower after President Barack Obama's re-election. The stock benchmark Tadawul All Share Index lost 0.33 percent at 6919.06 points. The petrochemical index dropped 0.73 percent at 5874.42 points, dragged lower by heavyweight Saudi Basic Industries Corp. which slid 0.82 percent. The banking index closed 0.45 percent at 15272.18 points. “This decline is due to profit-taking after last week's rise," Turki Fadaak, head of research at Albilad Investment Co. in Riyadh, said. Anaam fell 32 percent to SR49.30 after the Saudi agriculture and food processing company said it will issue 8.7 million shares at SR10 a share. “The increase in capital will be to expand our food- processing activity" said Hassan Al Yamani, Anaam's general manager, in an interview with Al Arabiya television. “We aim to become one of the best poultry producers in the Saudi market." Al Rajhi Bank, the largest Saudi lender by market value, fell the greatest in six days. Anaam International Holding Group Co. dropped to the lowest level since Sept. 11 last year after the company announced it was raising capital by 80 percent. — SG/Agencies
