- JEDDAH: Saudi shares ended at a four-and-a-half month high on Saturday, as gains in the food sector following a US stake purchase worth nearly $1 billion outweighed losses in petrochemical stocks on lower oil prices.
The food sector index added 2.8 percent, days after US heavyweight Coca-Cola Co. said it was buying a stake in unlisted Saudi beverage company Aujan Industries for $980 million.
Food group Savola jumped 4.5 percent, helping lift the Tadawul All-Share Index (TASI) 0.24 percent to 6,253.6 points, its highest close since Aug. 3.
The petrochemical index dropped 0.4 percent. Heavyweight Saudi Basic Industries Corp. (SABIC) shares fell 0.5 percent.
The value of traded shares reached SR4.98 billion on Saturday.
