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Sabic shares soar over three percent on improved global sentiment

The Saudi stock market Tadawul closed 1.43% higher at 6,235.64 points in the wake of the EU-debt cut agreement with Greece and the U. S.'s improved GDP growth rate of 2.5% in the third quarter (after plus 1.3% in the second quarter). In Riyadh, market bellwether Sabic surged to a 2.5-month high at SR98.25. The IMF, however, forecasts that the Saudi economy's real GDP growth rate will decline to 3.6% in 2012 from 6.5% in 2011.