Saudi Arabian Shares Gain for First Time in Six Days

Saudi Arabian shares gained for the first time in six days as the U.S. reported a slowdown in the pace of job losses, fueling hope that economic recovery is in sight.

The Tadawul All Share Index gained 1 percent to 5,670.92, the biggest advance since Aug. 24.

“Right now Saudi’s market is taking its cue from continued optimism from an ongoing global recovery,” said Akram Annous, deputy fund manager at Al Mal Capital PSC. “But I would keep an eye out for a continuing weakening in crude prices moving forward.”