Saudi Arabian shares extended gains to near the highest level since the start of the world financial crisis following the week’s advance in U.S. equities.
The Tadawul All Share Index (SASEIDX) rose 0.6 percent to 7,611.63, its highest intraday level since Sept. 20, by 12:53 p.m. in Riyadh. The 152-member index rallied 2.6 percent last week, capping an 8-week winning streak, the longest since April 2005. The gauge has gained 18.6 percent this year.
Saudi Basic Industries Corp. (SABIC), the world’s largest petrochemicals maker, advanced to its strongest level since July. Alinma Bank (ALINMA), an Islamic lender, reached its highest intraday level since June 2009.
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