JEDDAH: Saudi Arabia's index declined slightly, easing from Saturday's seven-week peak, but further gains are forecast with high oil prices and upbeat earnings expectations boosting sentiment. The stock benchmark Tadawul All Share Index slipped 0.09 percent to close at 6,617 points, halting a three-day rally. SABIC climbed 0.5 percent and Al-Rajhi Bank slipped 0.7 percent. Analysts have said a multibillion dollar social spending plan announced in March will encourage borrowing in the medium term. The Saudi banking index rose 9.6 percent in March. Dubai's index slipped 0.1 percent to end at 1,554 points while Abu Dhabi's index added 0.06 percent to close 2,609 points. Qatar's index ended up 0.09 percent to 8,464 points, ending on a six-week high. Kuwait benchmark closed down 0.4 percent to 6,271 points. Three of top 10 stocks fell and three ended flat.Kuwait Finance House fell 1.9 percent and Gulf Bank shed two percent.
