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Saudi exchange recovers while Royal troops put on full alert

The Riyadh-based Tadawul All-Share Index closed 0.37% higher at 7,751.32 points on Wednesday, in spite of a negative market breadth. Earlier in the day, the Saudi ministry of defense said the kingdom's armed forces were put on full alert after the U. S. indicated it would launch an aerial strike on Syria on Thursday. Saudi Arabia said it would endorse a U. S. led campaign, Arab News reported. A sharp spike in oil prices (up 4% at $112.18 per barrel, DME Oman crude futures) also fueled the rebound in Riyadh. Shares of Sabic, the world's biggest producer of petrochemical products, edged up by 1.59% to hit SR95.50. Allianz SF lost the most, finishing 8.82% lower at SR62.