Wednesday 9 February 2011

SABIC up as Saudi resumes rise - Stocks - ArabianBusiness.com

Saudi Basic Industries Corp (SABIC) led Saudi Arabia's index TASI higher in early trade as the kingdom's stocks braced for a possible inflow of funds when Egypt's bourse reopens on Sunday.

SABIC, Saudi Arabia's largest listed firm, climbed 0.4 percent, while Saudi Kayan Petrochemicals and Kingdom Holding each added 0.5 percent.

The index edged up 0.1 percent to 6,610 points, rebounding slightly after falling on Tuesday, its first decline in six sessions.

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