Saudi shares hit 6-month high.Byline: Riyadh Riyadh or Riad (both: rēäd`), city (1997 est. pop. 3,000,000), capital and largest city of Saudi Arabia, in the Nejd, central Saudi Arabia. It is situated in an oasis, c.240 mi (390 km) inland from the Persian Gulf.
Petrochemical petrochemical, any one of a large group of chemicals derived from a component of petroleum or natural gas. The cracking processes for manufacturing gasoline produce vast quantities of gaseous hydrocarbons. stocks lead Saudi shares to their highest close in more than six months after oil prices end the trading week at their highest in as many months.
The all-share ends 3.75 per cent higher at 6,019.69 points, its highest close since November 5.
The front-month contract for US crude oil closes the trading week up $1.92, or 3.4 per cent, at $58.63 a barrel, its highest settlement in six months after fewer-than-expected job cuts in April suggested the economic slump Slump
A temporary fall in performance, often describing consistently falling security prices for several weeks or months. was easing.
Nymex crude is up about 30 per cent since the start of the year, responding to the run-up in the stock market and output cuts by producer group Opec.
Saudi Basic Industries Corporation (Sabic) ends 9.62 percent higher at 65.50 riyals, its highest since November 11 after it unveiled an agreement with rival Saudi International Petrochemical Company (Sipchem) to create synergies after a drop the global economic slowdown For articles with similar titles, see Slow Down (disambiguation).
A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. hit their profitability.- Reuters Reuters
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