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Sat 6 Feb 2010 03:54 PM

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Saudi shares close 1.1% lower

Banking index sheds nearly 1%, led by Samba Financial which drops 3.1%.

Saudi shares closed 1.1 percent lower after oil prices fell to a seven-week low.

The all share TASI dropped to 6,216 points and heavyweight Saudi Basic Industries Corp fell 2.3 percent, dragging the petrochemical index down 1.8 percent to 5,278 points.

The banking index shed nearly 1 percent, led by Samba Financial Group which drops 3.1 percent. (Reuters)