March 30, 2013 / 8:28 AM / 5 years ago

MIDEAST STOCKS-Saudi stocks inch higher in early trade

0818GMT- Saudi stocks open slightly higher in early trade on Saturday.

The all-share index rises 0.05 percent to 7178.75 points.

Al Rajhi Bank, the kingdom’s largest listed lender, rises 0.38 percent. Saudi Basic Industries Corp (SABIC), the world’s biggest petrochemical company by market value, is down 0.26 percent.

The banking index is up 0.13 percent and the petrochemicals index drops 0.13 percent.

Crude futures rose on Thursday, the last session of the first quarter, in choppy trading with stronger Wall Street equities and a weaker dollar supporting dollar-denominated oil prices.

The S&P 500 set a record closing high on Thursday, finishing a fifth consecutive month of gains to extend a four-year rally. (Reporting by Reem Shamseddine; Editing by Angus McDowall)

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