Saudi shares end higher on Savola, Sabic

(EB FILE)

Published Saturday, July 18, 2009

By Reuters

Saudi shares rose 2.5 per cent, driven by heavyweight Saudi Basic Industries Corp and food firm Savola, which posted better-than-expected second-quarter results.

The main benchmark closed up 2.5 per cent at 5,775 points.

Savola Group, Saudi Arabia's largest food products firm by market value, rose 1 per cent after posting a 17.5 percent fall in second-quarter profit which came in above forecasts.

Sabic closed up 4.37 per cent.

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