Saudi Arabian shares gained, led by banks, as manufacturing reports bolstered global economic optimism before the release of earnings in the Arab world’s biggest economy.
The Tadawul All Share Index increased 0.7 percent to 6,449.93, the highest level since August, by 12:20 p.m. in Riyadh. The Middle East’s largest bourse has gained 0.5 percent so far this year.
Al Rajhi Bank, the kingdom’s largest lender by market value, rose the most since March 20. Halwani Brothers Co. advanced the most since Dec. 24 after announcing plans to increase its meat processing capacity in Egypt. Yamamah Cement Co. gained the most in almost two weeks after releasing earnings results.
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