JEDDAH, 31 January 2008 — Saudi Arabia’s Tadawul all share index closed higher for a second consecutive day, helped by gains in Saudi Kayan Petrochemicals Co and Saudi Basic Industries Corp (SABIC). The benchmark, which gained more than 40 percent last year, closed up 1.36 percent at 9,675.02 points. But it is down almost 18 percent since Jan. 15.
Kayan gained 6.93 percent and SABIC 0.61 percent.
In the neighboring UAE markets, benchmarks in Dubai and Abu Dhabi also ended higher yesterday, rising 0.72 percent at 5,533.54 points and 0.27 percent to 4,585.40, respectively.