Saudi petchems rise, index falls

Petrochemical stocks rise in Saudi Arabia, buoyed by higher oil prices, but can't prevent the index from ending lower as banking stocks decline. Advanced Petrochem and Sahara Petrochem rose 4.6 per cent and 0.4 per cent respectively. Oil rose for a second straight session on Monday, boosted by the dollar's continuing fall against a range of currencies, which outweighed the news that China had tightened its monetary policy. Banque Saudi Fransi and Riyad Bankfell 1.9 per cent and 1.1 per cent respectively.