Saudi up on petchem, bank stocks
Riyadh, February 9, 2013
Saudi shares closed narrowly higher on Saturday. The petrochemical index rises 0.42 percent to 5994.93 points while the banking index also closes higher, rising 0.08 percent.
The all-share ended 0.2 per cent higher, closing at 6996.72 points.
US stocks climbed on Friday, pushing the Nasdaq to a 12-year closing high and the S&P 500 index to a five-year high as stronger trade data lifted optimism.
Brent oil futures hit a nine-month high near $119 a barrel on Friday after data showed strong growth in Chinese oil imports, rounding out four straight weeks of gains for the contract and taking its premium over U.S. crude to more than $23.
Earlier in the day, the stocks inched up boosted by bank shares. The heavyweight Al Rajhi Bank had gained 0.37 per cent in early trading.-Reuters
Brent oil futures hit a nine-month high near $119 a barrel on Friday after data showed strong growth in Chinese oil imports, rounding out four straight weeks of gains for the contract and taking its premium over U.S. crude to more than $23.-Reuters
