Saudi shares end lower, weighed by petchems

The Saudi bourse ended lower on Saturday, weighed by the petrochemical and banking sectors following a fall in oil prices. The all-share index dipped 0.7 percent to 7,524 points, falling for the sixth session in seven. The petrochemical sector index lost 0.9 percent, with Saudi Fertilizers dropping 4.9 percent. Oil prices dipped on Friday and posted a weekly loss after data showed that first-quarter economic growth in China, the world's No. 2 oil consumer, was the weakest in nearly three years, reinforcing concerns about slowing demand for petroleum. The banking index lost 1.1 percent, with Al Rajhi Bank dropping 2.2 percent.