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Sabic shares reach two-year high

The Saudi Arabian Tadawul market in Riyadh extended its rally after hitting a seven-monthn high on Saturday and added 0.47% to reach 6,577.11 points. Saudi Basic Industries Corp., also known as Sabic closed at SR106, the highest level since September 2008. Mohamad Hawa, analyst at Credit Suisse in London, has set a target price of SR120 for Sabic.