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Article: Banks Boost Saudi Shares to 11-month High.
- Article from:
- Khaleej Times (Dubai, United Arab Emirates)
- Article date:
- September 28, 2009
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Summary: RIYADH u Saudi shares rose, led by Al Rajhi Bank and Samba Financial Group, after Saudi bank stocks were upgraded at Credit Suisse Group AG and some banks were said to have agreed to refinance part of the Saad GroupAEs debt.
The Tadawul All Share Index added 3.1 per cent to 6,130.95 at the close of trade, rising to its highest since October 22 last year. The index has gained 27.7 per cent this year after losing more than half its value in 2008 as oil prices dropped.
Al Rajhi, the largest bank in Saudi Arabia by market value, rose 7.9 per cent to SR75.25, its highest finish since October 21, 2008. Samba Financial, the second-largest bank in Saudi ...