STOCKS NEWS MIDEAST-Saudi shares close higher on petchem gains

1230 GMT- Saudi shares close higher on Saturday, supported by

gains in the petrochemical sector after oil prices rise.

The all-share adds 0.8 percent to 6,665 points and

the petrochemical index gains 1.1 percent to 5,649

points.

Heavyweight Saudi Basic Industries Corp (SABIC)

closes 0.9 percent higher.

The banking index also closes higher, gaining 0.3 percent

and ending at 14,733 points.

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0800 GMT- Saudi shares open with gains in all sectors on

Saturday after oil prices rose on Friday.

Oil prices rose on Friday as fresh protests in Egypt once

again stoked supply concerns, with additional support coming

from optimism about talks on releasing aid to Greece.

The all-share adds 0.5 percent in early trade to

6,643 points and the petrochemical index gains 0.7

percent to 5,622 points.

Heavyweight Saudi Basic Industries (SABIC) adds

0.9 percent.

The banking index gains 0.1 percent to 14,703

points.

(Reporting by Asma Alsharif; editing by Sami Aboudi)

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