Saudi Arabian shares rose for an 11th day, the longest winning streak since August 2005, after global stocks advanced as manufacturing and jobs data in China and the US boosted the outlook for the worlds economy.
The Tadawul All Share Index rose 1.89 percent to close at 7,336.21, its highest level since October 2008. The 152- member indexs rally is the longest since a 14-day surge that ended on Aug. 8, 2005.
“”The market is rallying as telecom and cement shares are gaining,”" Turki Fadaak, head of research at Riyadh-based Albilad Investment Co., said. “”The index is moving positively, boosted by gains in global markets, although Tadawul has not yet reached levels prior to the 2008 financial crisis.”"
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