Saudi soars on petchem stocks
Riyadh, March 16, 2013
Saudi stocks closed higher on Saturday with all-share index rising 0.37 per cent to hit 7051.18 points boosted by gains from the petrochemicals stocks.
Al Rajhi Bank dropped 1.15 per cent. Saudi Basic Industries Corp (SABIC) was up 0.53 per cent.
The banking index dropped 0.28 per cent, while the petrochemicals index gains 0.44 percent.
US crude oil futures settled higher on Friday, driven by strong US industrial output data in the world's largest oil consumer and a weaker US dollar. -Reuters
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