Saudi stocks rose in early trading led by gains in the petrochemical and banking sectors after oil prices post their third consecutive monthly gain.
The all-share TASI index was up 0.62 percent, mainly led by a 1.07 percent rise in the petrochemical index and a near 0.7-percent gain in banking stocks index.
Shares in chemical giant Saudi Basic Industries Corp (SABIC) rose 0.48 percent and shares in biggest-listed lender Al Rajhi Bank gained 0.9 percent.
Oil prices on Friday posted the third-straight monthly gain as higher economic growth in the United States and hopes of a bailout to help Greece avoid debt default sparked more risk-taking. (Reuters)For all the latest market news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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