• Petchems lead Saudi shares up, tracking oil


    0805 GMT - Saudi shares rise in early trade driven mainly by advances in the heavyweight banking and petrochemical stocks, gaining momentum from a rise in oil prices.
    The main benchmark <.TASI> index is up 1.21 percent at 5,848 points by 0803 GMT.
    Saudi Basic Industries <2010.SE> leads gainers with 3.25 percent and investment firm Kingdom Holding <4280.SE> is up 3.3 percent.
    Banque Saudi Fransi <1050.SE> rises 2.2 percent, making the strongest gain in the sector. Saudi Hollandi <1040.SE> clocks up 1.96 percent.
    Crude oil surged almost 4 percent on Friday after data showed the U.S. economy shrunk less than expected in the second quarter, boosting risk appetite.

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