Google+ Followers

Sunday, 11 September 2011

Saudi Shares Advance for Second Day, Led by Al Rajhi Bank, Tasnee, Yansab - Bloomberg

Saudi Arabian shares led by banks climbed for a second day, reversing earlier losses.

Al Rajhi Bank (RJHI), the kingdom’s largest publicly traded lender by market value, advanced the most in two weeks. National Industrialization Co. (NIC), the petrochemicals company known as Tasnee, and Yanbu National Petrochemicals Co. (YANSAB), gained more than 1 percent.

The Tadawul All Share Index (SASEIDX) strengthened 0.2 percent to 6,138.06, the highest level since Sept. 4, at the 3:30 p.m. close in Riyadh, extending its monthly gains to 2.7 percent. The 148-company gauge dropped as much as 1.2 percent at 11:55 a.m.