Petrochemicals lead Tadawul rebound

07 June 2010

Saudi Arabia's Tadawul All Share Index outperformed all GCC stock exchanges by advancing 1.07% to 5,988.18 points. Petrochemical giant Sabic was the most liquid stock, jumping 4.57% higher to SR85.75. Sahara Petrochemical ended up 1.07% at SR20.10. Sabic and Sahara were lifted by stabilizing oil prices at the level of $71 per barrel. Utility shares failed to jump on the recovery bandwagon, with Saudi Electricity declining by 0.83% to SR12.00.

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