MARKET TALK: Saudi Stocks End +0.3%; Market Eyes OPEC Meeting

Wednesday, Jun 13, 2012

1308 GMT [Zawya Dow Jones]--Saudi's main Tadawul share index closes +0.3% at 6744.53, but volumes light as investors remain cautious about the euro zone. Petchem stocks support the gains Wednesday. "I'd look at the market as flat. During the week some of the big names came down which pushed the market lower, overall the market can be looked at as cheap right now," says Tariq Al Alaiwat, an equity analyst at NCB Capital. Oil prices are still a key focus for investors as the outcome of Thursday's OPEC meeting in Vienna is keenly awaited. Nymex July crude futures last down 92 cents at $82.40/bbl.

(iman.dawoud@dowjones.com; Twitter: @ZDJnews)

(END) Dow Jones Newswires

13-06-12 1310GMT