Saudi Arabian shares rose to the highest level in four months as oil prices gained after leaders of the Group of Eight nations said the global economy is strengthening.
Saudi Basic Industries Corp. (SABIC), the world’s biggest petrochemicals maker, and National Industrialization Co. (NIC) led the gains. Emaar Economic City (EMAAR) gained the most in almost three years.
The 146-member Tadawul All Share Index (SASEIDX) climbed 0.4 percent to 6,751.11, the gauge’s highest level since Jan. 17, at the 3:30 p.m. close in Riyadh. Three shares rose for every stock that dropped and the index rallied for a third day, extending quarterly gains to 2.9 percent.
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