Saudi Arabian shares advanced the most in seven months as rising oil prices lifted petrochemicals companies and offset weaker-than-estimated U.S. housing data.
The Tadawul All Share Index climbed 1.8 percent, the steepest increase since Aug. 13, to 7,675.61, at the 3:30 p.m. close in Riyadh. Ten shares rose for every stock that fell. The 152-member index has gained 20 percent this year.
Banque Saudi Fransi (BSFR), a Saudi lender part-owned by Credit Agricole SA, surged the most in a year. Saudi Basic Industries Corp. (SABIC), the world’s largest petrochemicals maker, gained for a second day.
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