Saudi index hits 7,000 level as oil jumps

Sunday, May 21, 2017

Dubai: Saudi stocks jumped the most in the region as rising oil prices revived risk appetite of investors.

The Tadawul index closed 0.76 per cent higher at 6,990.53, after hitting an intra-day high of 7,009.93, the level last seen in early March. Most of the strength in the index was drawn from shares of materials and capitals goods.

On Sunday, elsewhere in the region, the Dubai Financial Market General index closed 0.25 per cent higher at 3,386.44.

The Abu Dhabi Securities Exchange general index closed 0.24 per cent lower at 4,570.36.

Siddesh Suresh Mayenkar, Senior Reporter

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