MIDEAST STOCKS-Saudi lower as weak banks outweigh rising petchems:
"Saudi Arabian shares fell on Sunday as weakness in banks more than offset a rise in petrochemicals after Brent crude oil rebounded to around $67 a barrel at the end of last week. The Saudi stock index fell 0.4 percent. Ten of 14 petchems climbed, with the biggest, Saudi Basic Industries , adding 0.6 percent. Saudi Kayan Petrochemical gained 0.3 percent after swinging to a fourth-quarter loss of 220 million riyals ($58.7 million) due to scheduled maintenance at its plants. The loss was larger than 90 million riyals forecast by SICO Bahrain but much smaller than 417 million riyals predicted by NCB Capital."
'via Blog this'
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