Saudi Rises On Hospitality, Bank Stocks

Saudi shares soared on Saturday led by gains in the banking and hospitality sectors to close at 6,987 points. The all-share index added 0.5 per cent.

The banking sector saw a 0.4 per cent rise that took the total to15,912 points.

The hospitality sector gained 5 per cent to close at 7,809.8 points, lifted by gains in Saudi Hotels which closed 6 per cent higher.

Earlier in the day, the shares opened higher lifted by gains in the petrochemical sector. The all-share added 0.2 per cent to hit 6,969 points and the petrochemical index added 0.5 per cent to 6,109 points.

Reuters