Saudi Arabian stocks rose for a sixth day, led by Samba Financial Group and Arab National Bank, amid gains in oil prices.
Samba, the kingdom’s second-largest bank, gained 3.3 percent to 54.5 riyals, the biggest increase since Dec. 14. Arab National rose 3.3 percent to 44.5 riyals.
West Texas Intermediate crude has risen 13 percent in the past month, reaching $83.52 a barrel at the New York Mercantile Exchange on Jan. 6, its highest since October 2008. Oil settled at $82.75 yesterday. Petroleum accounts for 45 percent of Saudi Arabia’s gross domestic product, according to the U.S. Central Intelligence Agency’s World Factbook.
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