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Sat 18 Jul 2009 05:48 PM

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Saudis shares end higher on Savola, SABIC

Savola rose 1 percent after posting a 17.5 percent fall in second-quarter profit.

Saudis shares end higher on Savola, SABIC
STOCK WATCH: The main benchmark TASI closed up 2.5 percent at 5,775 points.(Getty Images)

Saudi shares rose 2.5 percent, driven by heavyweight Saudi Basic Industries Corp and food firm Savola, which posted better-than-expected second-quarter results.

The main benchmark TASI closed up 2.5 percent at 5,775 points.

Savola Group, Saudi Arabia's largest food products firm by market value, rose 1 percent after posting a 17.5 percent fall in second-quarter profit which came in above forecasts.SABIC closed up 4.37 percent. (Reuters)

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