The Saudi stock market, the largest Arab bourse, began the week on a positive note surging on Saturday after shedding 15% of its value last week, as fears of uprisings spreading shook Arab financial markets.
The recovery came after Finance Minister Ibrahim al-Assaf said in a televised interview that the Saudi economy was in "great" shape and that he himself bought stocks last week.
The Tadawul All-Shares Index opened 0.37% up Saturday, after it had closed 3.9% down on Thursday, for the 13th consecutive session in the red.
In half an hour of trading the index had surged over three percent to 5,486.09 points and continued rallying to close 7.1% higher at 5701.42 points.
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