By Maged Al-Shabib

Riyadh-Mubasher: SABIC stock traded at the SAR 100 level on Sunday, its highest in more than five months.

The giant petrochemical producer recorded a gain of 28% in the last three weeks, boosted by rising oil prices and higher-than-expected financial results.

A total of 6.6 million shares changed hands at a turnover of SAR 656 million.

SABIC posted net earnings of SAR 3.93 billion for the first three months of 2015, dropping 38.98% year-on-year from SAR 6.44 billion and 9.86% quarter-on-quarter from SAR 4.36 billion.

Translated by Abdul Maguid Aboshahla