JEDDAH: ARAB NEWS
Wednesday 8 August 2012
Last Update 8 August 2012 9:06 am
Saudi Arabia’s key stock market index ends at a 10-week high, reversing declines in the last two sessions, as banking and insurance stocks support.
The Tadawuk All-Share Index climbed 0.3 percent to 6,961 points, ending at its highest close since May 30.
Global stocks hit a three-month high and the euro gained yesterday as investors drew encouragement from signs that Europe is edging toward resolving its debt crisis even as the economic impact in the region worsens.
Brent crude for September delivery rose $ 2.73 to $ 112.28 a barrel, climbing above $ 110 a barrel for the first time since mid May. US crude jumped $1.85 to $94.05.
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