16/08/2009
Petrochemicals give up most of Saturday's gains, weighing on Saudi Arabia's index (TAS). Saudi Basic Industries Corp (SABIC) slips 0.7 percent and Rabigh Refining and Petrochemical Co loses 1.1 percent. The latter climbed 2.4 percent the previous day, while SABIC added 0.3 percent, surprising analysts who expected the stocks to fall after oil prices dropped more than 4 percent on Friday, their largest one-day decline for two weeks.Saudi Arabia's index (TAS) is up 0.04 percent at 5,840 points. Saudi Telecom Co climbs 0.4 percent, reports Reuters.
