Saudi index closes higher, driven by banking sector

Gulf kingdom's all-share index climbs marginally on Saturday following previous day's oil price rise
By Reuters
Sat 09 Feb 2013 12:38 PM

Saudi shares closed narrowly higher on Saturday as the all-share ended 0.2 percent higher on 6996.72 points.

The petrochemical index rose 0.42 percent to 5994.93 points while the
banking index also closed higher, rising 0.08 percent.

US stocks climbed on Friday, pushing the Nasdaq to a 12-year closing high
and the S&P 500 index to a five-year high as stronger trade data lifted
optimism.

Brent oil futures hit a nine-month high near $119 a barrel on Friday after
data showed strong growth in Chinese oil imports, rounding out four straight
weeks of gains for the contract and taking its premium over US crude to more
than $23.

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