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Sat 24 Jul 2010 11:23 AM

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Saudi stocks close 1.6 percent higher

Saudi index TASI closes at 6,187 points, as shares in SABIC gain 2 percent.

Saudi stocks close 1.6 percent higher
(Getty Images)

Banking and petrochemical stocks led Saudi shares to a higher close on Saturday after positive market data lifted global stocks on Friday.

The all share TASI closed 1.6 percent higher at 6,187 points.

Shares in petrochemicals giant Saudi Basic Industries Corp (SABIC) ended two percent higher while heavyweight Al Rajhi Bank added 1.7 percent.

The banking index closed 2.3 percent higher while the petrochemicals index rose 1.9 percent. (Reuters)

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