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Thursday, 26 November 2009 07:29 UAE time

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Petchems lead Saudi to one-month high

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Saturday, 25 July 2009
(Getty Images)
(Getty Images)

Saudi shares closed at their highest level in almost five weeks led by a surge of the heavyweight petrochemical index to its highest level in as many weeks despite generally disappointing quarterly earnings.

The all-share TASI index closed 2.8 percent higher at 5,828.56 points, its highest level since June 21. The petrochemical index gained 5.2 percent at 4,576.82, also its highest since June 21.

Industry giant Saudi Basic Industries Corp added 7.4 percent to trade last at 68.75 riyals, its highest since June 20.

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Savola Group closed 3.53 percent higher at 24.90 riyals, its highest level since June 6 after it announced the acquisition of Geant retail stores from Fawaz Alhokair Group. (Reuters)

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