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Saudi stocks dip
Riyadh: The Saudi stock exchange, the highest capitalised in the Arab world, edged down 0.1 per cent on the week to Thursday, as oil prices fell back below 30 dollars a barrel, a financial consultant said.The all-shares index of the National Centre for Financial and Economic Information (NCFEI) closed at 2,358.48 points against 2,361.75 a week earlier, according to Bakheet Financial Advisors. Over recent weeks, trading on the bourse has eased as investors in the kingdom waited for the volatile world oil market to calm down. Crude prices fell back below 30 dollars a barrel in London on Thursday after the US government awarded 30 million barrels from its strategic petroleum reserve (SPR) to US companies. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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