Saudi shares close higher on petchem gains
Riyadh, November 24, 2012
Saudi shares closed higher on Saturday, supported by gains in the petrochemical sector after oil prices rise. The all-share added 0.8 per cent to 6,665 points and the petrochemical index gained 1.1 percent to 5,649 points.
Heavyweight Saudi Basic Industries Corp (Sabic) closed 0.9 percent higher, as well as the banking index, gaining 0.3 percent and ending at 14,733 points.
Oil prices rose on Friday as fresh protests in Egypt once again stoked supply concerns, with additional support coming from optimism about talks on releasing aid to Greece. – Reuters