Wednesday, 16 May 2012

STOCKS NEWS MIDEAST-Saudi edges down as banks, petchems weigh - Yahoo! News UK

Saudi Arabia's bourse recovers from a 12-week intraday low, but ends slightly lower with petrochemical and
banking stocks weighing as gloomy global markets prompt investors to cut their exposure.
Oil prices slid with world shares and the euro as investors fled from riskier assets due to the Greek crisis.
Bellwether Saudi Basic Industries Corp. drops 0.5 percent to its lowest close since Feb 19.
Al Rajhi Bank sheds 0.3 percent and lender Samba Financial Group drops 1 percent.
The index ends 0.06 percent lower at 7,100 points.

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