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, jumped the most in more than seven weeks, while National Industrialization Co. (NIC), known as Tasnee, gained more than 2 percent.
The Tadawul All Share Index (SASEIDX) rose 0.9 percent to 6,537.12 at the 3:30 p.m. close of trading in Riyadh, the gauge’s highest close since July 11. The 150-member measure has gained 1.3 percent in the past four days. More than three shares climbed for every one that dropped.
No comments:
Post a Comment