RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 43.07 points, or 0.36 percent, to close at 11,849.37.

The total trading turnover of the benchmark index was SR4.14 billion ($1.1 million), as 84 of the stocks advanced and 137 retreated. 

The Kingdom’s parallel market Nomu lost 205.92 points, or 0.65 percent, to close at 31,238.29. This comes as 37 of the listed stocks advanced while 49 retreated. 

The MSCI Tadawul Index also lost 4.86 points, or 0.33 percent, to close at 1,484.56. 

The best-performing stock of the day was Saudi Vitrified Clay Pipes Co., whose share price surged 9.89 percent to SR38.90. 

Other top performers included SHL Finance Co., whose share price rose 6.43 percent to SR18.20, as well as Taiba Investments Co., whose share price surged 4.97 percent to SR39.05.

Riyadh Cables Group Co. recorded the biggest drop, falling 6.30 percent to SR136.80.

Al Hassan Ghazi Ibrahim Shaker Co. saw its stock prices fall 5.15 percent to SR26.70.

Dr. Sulaiman Al Habib Medical Services Group also saw its stock prices decline 4.02 percent to SR286.60.

Meanwhile, Al-Baha Investment and Development Co. has announced moving its headquarters to Riyadh.

The company’s shares will be suspended for two business days starting Dec. 22, following the board of directors’ recommendation to reduce capital by 26.5 percent from SR 297 million to SR 218.3 million during an extraordinary general meeting held on Dec. 19.

The National Agricultural Development Co. has announced the release of its Sustainability and Environmental, Social, and Governance report.

According to a Tadawul statement, it outlines the company’s approach to embedding sustainability criteria within its strategic direction and operations as well. It reflects the firm’s commitment to its ESG responsibilities along with its devotion to sustainable development objectives in line with the Global Reporting Initiative standards. 

NADEC’s strategy complements the requirements for economic growth, keeps pace with developments in the Kingdom, and aligns with Vision 2030, which emphasizes environmental sustainability and renewable energy as fundamental components of development.

The analysis further provides a comprehensive insight into NADEC’s sustainability initiatives and commitments for the year 2023. The statement also disclosed that NADEC will periodically issue reports to keep stakeholders informed of ongoing developments going forward.

NADEC ended the session at SR25.50, up 0.98 percent.

Alhasoob Co. has announced the termination of the non-binding memorandum of understanding to acquire all shares of Alkhorayef Printing Solutions Co. by issuing shares to its owner Alkhorayef Group Co. 

A bourse filing revealed that this comes without reaching an agreement between the two parties and without any obligation on either party.

Alhasoob Co. ended the session at SR64.20, down 3.07 percent.

Saudi Basic Industries Corporation has announced the board decision to distribute SR5.1 billion in interim cash dividends to shareholders for the second half of the year. 

According to a Tadawul statement, the total number of shares eligible for dividends amounted to 3 billion shares, with the dividend per share standing at SR1.70. The statement also revealed that the percentage of dividend to the share par value stood at 17 percent.

SABIC ended the session at SR67.00, up 0.30 percent.

MAGDEBURG: A man suspected of plowing a car through crowds at a German Christmas market in an attack that killed five people and injured scores faces multiple charges of murder and attempted murder, police said on Sunday.
Friday evening’s attack in the central city of Magdeburg shocked the country and stirred up tensions over the charged issue of immigration.
The suspect, who was in custody, is a 50-year-old psychiatrist from Saudi Arabia with a history of anti-Islamic rhetoric who has lived in Germany for almost two decades. The motive for the attack remained unclear.
There were scuffles and some “minor disturbances” at a far-right demonstration attended by around 2,100 people on Saturday night in Magdeburg, police said. They added that criminal proceedings would follow, but did not give details.
Protesters, some wearing black balaclavas, held up a large banner with the word “remigration,” a term popular with supporters of the far right who seek the mass deportation of immigrants and people deemed not ethnically German.
Other residents gathered to pay their respects to the dead.
A sea of flowers stretched out in front of St. John’s Church in Magdeburg, close to the scene of the crime, which attracted a steady stream of tearful mourners over the weekend.
“This is my second time here. I was here yesterday. I brought flowers and it moved me so much and I had to know today how many flowers were brought,” local resident Ingolf Klinzmann told Reuters.
A sign commemorating the victims bore in large lettering the word “Why?.”
A magistrate ordered the suspect, identified in German media as Taleb A., into pretrial custody on charges of murder on five counts as well as multiple counts of attempted murder and grievous bodily harm, police said in a statement.
Reuters could not immediately ascertain if the suspect had a lawyer.
Those killed were a nine-year-old boy and four women aged 52, 45, 75 and 67, the police statement said. Among the wounded, around 40 had serious or critical injuries.
Authorities said the suspected attacker used emergency exit points to drive onto the grounds of the Christmas market, where he picked up speed and plowed into the crowds, hitting more than 200 people in a three-minute attack. He was arrested at the scene.
German authorities have not named the suspect and German media reports have given his name only as Taleb A. in keeping with local privacy laws.

MOTIVE UNCLEAR
Interior Minister Nancy Faeser said in a statement on Sunday that the criminal investigation would leave no stone unturned.
“The task is to piece together all findings and paint a picture of this perpetrator, who does not fit any existing mold,” Faeser said.
“This perpetrator acted in an unbelievably cruel and brutal manner — like an Islamist terrorist, although he was clearly ideologically hostile to Islam,” she added.
The suspect had been strongly critical of German authorities as well as Islam in the past.
He had voiced support on social media platform X for the far-right Alternative for Germany (AfD) party and for US billionaire Elon Musk, who has backed the AfD.
The AfD has strong support in the former East Germany where Magdeburg is located. Opinion polls put it in second place nationally ahead of elections in February.
Its members, including the candidate for chancellor Alice Weidel, planned a rally in Magdeburg on Monday evening.
Saudi Arabia had repeatedly flagged to Germany concerns over posts on the suspect’s social media, according to a Saudi source and a German security source.
The Christian Democrats, Germany’s main opposition party, and the Free Democrats, who were part of the coalition government until its collapse last month, called for improvements to Germany’s security apparatus, including better coordination between federal and state authorities.
“The background must be clarified. But above all, we must do more to prevent such offenses, especially as there were obviously specific warnings and tips in this case that were ignored,” Sahra Wagenknecht, leader of the leftist BSW party, told the Welt newspaper.
The BSW, a new political party with far-left roots, has also condemned unchecked immigration and has gained considerable support ahead of the Feb. 23 election.
Chancellor Olaf Scholz, whose Social Democrats are trailing in opinion polls, attended a service for victims in Magdeburg’s cathedral on Saturday.