• Saudi shares rise


    Aug 29,2009
    Saudi shares open higher, led by heavyweight Saudi Electricity  and Al-Rajhi Bank, after oil prices rose slightly amid lingering optimism that recession is ending.
    The all-share (TASI) index is up 0.2 percent at 5,774.5 points, in the first day of trading after Saudi authorities announced a failed bid to assassinate the kingdom's top security chief.
    State-controlled Saudi Electricity gains 1.56 percent and Rajhi Bank, the largest-listed lender, is up 1.1 percent.
    On Friday, U.S. crude for October rose 25 cents to settle at $72.74 a barrel while London Brent advanced 28 cents to $72.79 a barrel, reports Reuters.

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