Thursday 1 May 2014

MIDEAST STOCKS-All Gulf markets rise, Saudi Arabia leads | News by Country | Reuters

MIDEAST STOCKS-All Gulf markets rise, Saudi Arabia leads | News by Country | Reuters:



"All markets in the Gulf edged up on Thursday, led by Saudi Arabia which rose to a six-year high on the back of petrochemicals and cement makers.



The kingdom's main index gained 0.8 percent to 9,660 points, its highest close since June 2008. Saudi Basic Industries Corp (SABIC), up 2.6 percent, was the main support, also topping daily turnover.



Overall, Saudi petrochemicals gained 1.5 percent while cement makers rose 2.6 percent.



Shares in Saudi Public Transport Co (Saptco) jumped 2.8 percent after the company, together with a French partner, won a 7.86 billion riyal ($2.1 billion) contract to operate and maintain buses in Riyadh."



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