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Sat 7 May 2011 05:20 PM

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Saudi shares fall to a low of more than two weeks

All-share index drops 1.6%, dragged down by the petrochemicals sector amid fall in oil prices

Saudi shares fall to a low of more than two weeks

Saudi shares fell to a low of more than two weeks,
dragged by the petrochemicals sector following record drops in
oil prices.

The all-share index dropped 1.6 percent to 6,578
points, its lowest level since April 20.

Petrochemicals giant Saudi Basic Industries Corp (SABIC) fell 2.9 percent, and the sector index closed three percent lower.

The banking sector index lost one percent.

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