02/08/2009
1236 GMT - Petrochemical giant Saudi Basic Industries Corp <2010.SE> (SABIC) helps offset slight declines in banking stocks to push the Saudi benchmark index <.TASI> to a higher close helped by a rise in oil prices.
The all-share <.TASI> index ends 0.14 percent higher at 5,786.31 points after hitting an intraday peak of 5,857.66 points.
SABIC, the most traded share, closes 1.44 percent higher at 70.25 riyals.
Al-Rajhi Bank <1120.SE>, the biggest listed lender, slips 0.75 percent, Saudi Hollandi Bank <1040.SE> eases 0.84 percent and Samba Financial Group <1090.SE> ends 0.44 percent lower.
