29/06/2011
Saudi stocks jump to two-week high
Saudi Arabia’s index hit a two-week high after gaining 0.4 percent, lifted by gains in oil prices.
Saudi Basic Industries Corp, the Gulf region’s largest firm by value, climbed 0.7 percent, while National Industrialization Co jumped 4.1 percent. Al Rajhi Bank advanced 0.7 percent.
Saudi Integrated Telecom Company closed at SR12.60 on its bourse debut after 68 million shares changed hands.
Saudi and Egypt stocks ended higher, tracking oil prices and global stocks which rallied over optimism that the Greek parliament and a French-led plan to roll over sovereign bonds would help ease Greece’s nagging debt crisis.
