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Sat 13 Aug 2011 12:25 PM

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Petrochem shares drive Saudi market upwards

Petrochemical giant Saudi Basic Industries Corp adds 2% as all-share index closes 1.9% higher

Petrochem shares drive Saudi market upwards

Saudi shares closed 1.9 percent higher on Saturday
led by gains in the petrochemical and banking sectors.

The all-share closed at 6,156 points, its highest
close since August 3 when the market closed at 6,424 points.

The petrochemical sector added 2.3 percent to 6,273
points and petrochemical giant Saudi Basic Industries Corp
(SABIC) closed 2 percent higher.

The banking index ended 2.2 percent higher to 14,790 points,
lifted by gains in heavyweight Al-Rahji Bank which
ended 3.3 percent higher.

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