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Petrochem stocks bounce back in Riyadh
- Saudi Arabia: Sunday, September 27 - 2009 at 17:38
The Saudi stock exchange Tadawul extended its gains from yesterday by 0.77%, closing at 6,178.14 points as shares ended mixed. Similar to the trading in Abu Dhabi and Kuwait, Saudi investors favoured shares of the real estate sector (up 2.11%). Emaar The Economic City, a $50bn real estate development in the north of Jeddah, advanced by 1.49%, finishing at SR10.20. As oil prices stabilised above $65 per barrel, shares of petrochemical leader Saudi Basic Industries Corp. (SABIC) rebounded by 0.96% and closed at SR78.75. Filing & Packing Materials Manufacturing Co. topped the gainers' list by closing 9.72% higher at SR59.25. Seventy-two stocks gained territory while 42 declined in value. Twenty shares ended unchanged.
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Gérard Al-Fil, Financial JournalistSunday, September 27 - 2009 at 17:38 UAE local time (GMT+4)
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This article was updated on Mon Sep 28 2009.
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