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Wednesday, 25 November 2009 16:55 UAE time

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SABIC helps Saudi stocks to higher close

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Saturday, 01 August 2009
STOCK WATCH: Al Rajhi Bank, the biggest listed lender, slipped 0.75 percent(Getty Images)
STOCK WATCH: Al Rajhi Bank, the biggest listed lender, slipped 0.75 percent(Getty Images)

Petrochemical giant Saudi Basic Industries Corp (SABIC) helped offset slight declines in banking stocks to push the Saudi benchmark index TASI to a higher close helped by a rise in oil prices.

The all-share TASI index ended 0.14 percent higher at 5,786.31 points after hitting an intraday peak of 5,857.66 points.

SABIC, the most traded share, closed 1.44 percent higher at 70.25 riyals.

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Al Rajhi Bank, the biggest listed lender, slipped 0.75 percent, Saudi Hollandi Bank eased 0.84 percent and Samba Financial Group ended 0.44 percent lower. (Reuters)

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