Saudi Arabian shares, led by banks, gained the most in four weeks as fourth-quarter earnings beat analysts’ estimates and after U.S. stocks rose and crude oil prices advanced.
Al Rajhi Bank, the kingdom’s largest lender by market value, Samba Financial Group and Banque Saudi Fransi paced the advance. Saudi Basic Industries Corp., the world’s largest petrochemical maker, climbed 1.2 percent to its highest price in more than two years.
The 146-company Tadawul All Share Index advanced 0.9 percent to 6,766.72 at 1:19 p.m. in Riyadh, the gauge’s largest gain in four weeks, as more than two stocks increased for every one that dropped.
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