National Industrialization Co. dropped the most in almost two months after the Saudi Arabian holding company known as Tasnee posted a third-straight quarterly loss. The stock retreated 8.2 percent to 13.18 riyals at the close as about 9.1 million shares traded, more than five times the three-month daily average. Tasnee on Monday posted a 296.3 million-riyal ($79 million) loss for the third quarter, compared with a profit of 243.7 million riyals a year earlier. The average of four analyst estimates compiled by Bloomberg was for a 62.5 million-riyal profit. “The reported loss is attributable to lower average sales prices and lower sales volumes,” Tasnee said in a statement to the Saudi bourse. Brent crude, a benchmark for half the world’s oil, has tumbled more than 40 percent in the last 12 months, placing pressure on the economy in Saudi Arabia, OPEC’s biggest oil producer. Tasnee joins a list of […]