31/07/2010
Saudi stocks open 0.41 percent higher led by gains in the banking sector
Saudi STOCK NEWS
The all share <TASI> index rises to 6,292 points in early trading. The banking index gains 0.69 percent.
Heavyweight Al Rajhi Bank, Saudi Arabia's biggest lender, gains 1.27 percent after it announced late on Friday that its provisions for loan losses for the second quarter were the same as the year earlier.
Yet shares in the second-biggest lender, Samba Financial Group , decline 1.65 percent after it announced on Saturday that booked more provisions for loan losses during the second quarter.
As for Shares in Saudi Fransi Bank gain 0.66 percent after its Friday announcement that its provisions for loan losses for the second quarter have lowered by 30 percent. (Reuters)
