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Saudi rises on banking stocks

Riyadh, January 12, 2013

Saudi shares started higher on Saturday, lifted by gains in the banking sector ahead of fourth-quarter earnings announcements expected this week.

The all-share added 0.3 per cent to 7,148 points and the banking index added 0.6 per cent to 15,705 points.

Banque Saudi Fransi gained 1.3 per cent after it announced a 22.2 per cent jump in its fourth-quarter net profit.

The petrochemical sector also rose, adding 0.2 per cent to 6,169 points.-Reuters




Tags: Saudi | Shares |

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