Tadawul edges up with all 14 listed producers advancing

Saudi Arabian petrochemical shares were bid up on Sunday with all 14 listed producers advancing, pulling the Tadawul All-Share Index 0.7 percent higher.
Mid-sized producer Sahara Petrochemical 2260.SE was the top performer, jumping 7.1 percent.
Saudi Cable Co. 2210.SE rose 2.5 percent after saying its Turkish subsidiary had won a $50 million order, with the financial impact to start appearing by the end of the second quarter next year.
Stock markets in the Gulf posted small gains on Sunday after crude oil prices climbed back toward 17-month highs at the end of last week, but trading volumes shrank across the region. Foreign buyers continued to bid up shares in Egypt.
Brent LCOc1 futures rose 2.2 percent to settle at $55.21 a barrel on Friday after Goldman Sachs boosted its price forecast for 2017 and producers showed signs of adhering to a global deal to reduce output.
Dubai’s main index closed almost flat as trading volume fell to the lowest in five weeks, suggesting that many institutional traders, which played a major role last week, were largely absent on Sunday. Emaar Malls Group rebounded 2.7 percent but builder Drake & Scull, the most heavily traded share, slipped 0.4 percent.
Blue chips helped carry Abu Dhabi’s index 0.8 percent higher. Dana Gas rose 1.9 percent and First Gulf Bank FGB.AD climbed 2.0 percent.
Stock markets in Bahrain and Qatar were closed for national holidays.
Cairo’s main index rose 0.6 percent to 11,398 points, but trading volume was the lowest since the central bank floated the Egyptian pound on Nov. 3, triggering a bull market.

Source: Arab News