Saudi Arabian shares rose to a six- month high in the first trading day this week after the U.S. Federal Reserve signaled it would keep interest rates low through at least late 2014.
Saudi Basic Industries Corp. (SABIC), the world’s largest petrochemicals maker, gained as much as 2.2 percent, while Etihad Etisalat Co., (EEC) which trades as Mobily, headed toward its highest close since February 2008 after its board recommended distributing quarterly dividends in fiscal 2012.
The Tadawul All Share Index (SASEIDX) rose 0.6 percent to 6516.38 at 2:09 p.m. in Riyadh, the gauge’s highest intraday level since July 25. The 150-member measure extended its gain in the past four days to 1 percent. More than three shares climbed for every one that dropped.
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