Saudi Arabian shares gained the most in more than five weeks after the country’s second-largest phone company posted fourth-quarter earnings that beat estimates.
Etihad Etisalat Co. (EEC), which trades as Mobily, rose the most in four months after reporting quarterly profit that beat analysts’ estimates. Al-Rajhi Bank (RJHI), the kingdom’s largest publicly traded lender by assets, increased for a second day.
The Tadawul All Share Index (SASEIDX) jumped 1.1 percent to 6,445.06 at 1:41 p.m. in Riyadh, its highest intraday level since Dec. 14. Three shares climbed for every one that dropped.
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