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Sat 22 Sep 2012 01:39 PM

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Bellwether SABIC weighs on Saudi stock market

Petrochemical giant's shares fall 1.08% as all-share index closes 0.37% lower

Bellwether SABIC weighs on Saudi stock market

Saudi shares partly recovered earlier losses on Saturday, but the all-share index
still finished the session down 0.37 percent from start of trading.

Shares in petrochemical companies fell 0.74 percent, with bellwether Saudi
Basic Industries Corp (SABIC) slipping 1.08 percent.

Banking stocks did better, ending with losses of only 0.11 percent as
heavyweight al-Rajhi Bank gained 0.34 percent.

The Saudi market is influenced by world oil prices, which fell last week.

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