Saudi shares closed 2.6 percent lower on Saturday with losses in all sectors, following declines in US and European stock markets. The all-share closes at 5,931 points, dragged down by the petrochemical sector which lost 3.8 percent lower to 5,928 points. Petrochemical giant Saudi Basic Industries Corp (SABIC) fell 3.6 percent. The banking sector dropped 2.6 percent to 14.252 points.
Saudi shares fell 3 percent in early trading on Saturday after global stocks tumbled on Friday on lingering fears about Europe's debt crisis and a potential slide into recession for major economies. The all-share opens 3 percent lower at 5,913 points as the petrochemical index falls 4 percent to 5,910 points. Heavyweight Saudi Basic Industries Corp (SABIC) drops 4 percent by 0815 GMT.
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