Saudi shares closed higher on Saturday, lifted by gains in the petrochemical sector. The all-share added 0.4 per cent to hit 6,860 points and the petrochemical stocks added 0.3 per cent to 5,875 points.
Shares in Almarai Company gained 1.2
Saudi shares closed 1.4 per cent higher on Saturday, lifted by gains in most sectors, on the first day of trading after the King Abdullah appointed Interior Minister Prince Nayef as the new crown prince.
The all-share closed at 6,236 point
Saudi's shares rebounded on Monday as investors picked up stocks on attractive valuations after two-sessions of losses that dragged the index to a 23-week low, but global concerns still weighed on sentiment.
Banking stocks edged higher
Saudi shares closed 2.6 per cent lower on Saturday with losses in all sectors, following declines in US and European stock markets.
The all-share closes at 5,931 points, dragged down by the petrochemical sector which lost 3.8 percent lower
Saudi shares closed 1.9 per cent higher on Saturday led by gains in the petrochemical and banking sectors, with the all-share closing at 6,156 points, its highest close since August 3 when the market closed at 6,424 points.
The petrochemical sector lead Saudi shares rise in early trade, with the all-share rising 1.3 per cent to 6,115 points and the petrochemical index seeing a gain of 2 per cent to 6,257 points.
Petrochemical giant Saudi Basic Industries Corp
Saudi shares drop about 5.2 per cent to a low of nearly five months, weighed by petrochemical and banking shares, after S&P downgraded the credit rating of the US.
The US lost its top-tier AAA credit rating from Standard & Po
Saudi shares on Saturday closed at the lowest point since March 26, dragged down by losses in the banking and petrochemical sectors.
The all-share lost 0.5 per cent at 6,509 points and the banking sector shed one per cent at 15,380 points.
Petrochemical and banking stocks lead Saudi shares to a higher close on Saturday, after a rise in US crude futures on Friday. Saudi's petrochemical index gained 1.44 per cent to 6,478.29 points while the all-share rose 0.99 per cent to 6,563.58 po
Petrochemical shares in Saudi Arabia climbed 2.5 per cent in early trading, lifting the Saudi index as crude prices hit a six month high above $87 a barrel.
Saudi Arabia's index gained one per cent to 6,409.66 points and the petrochemical