Saudi Arabian (SABIC) equities rose the most in almost four weeks on speculation governments and central banks will take steps to contain the euro-region debt crisis and stoke economic growth.
Bank stocks gained, led by Bank Albilad. (ALBI) Al Rajhi Bank, the kingdom’s biggest lender by market value, added as much as 1.4 percent. Saudi Basic Industries Corp., the world’s largest petrochemicals maker by market value, climbed as much as 4.4 percent, the most since April 2011.
The Tadawul All Share Index (SASEIDX) rose 1.7 percent to 6,778.47 by 2:17 p.m. in Riyadh. It advanced as much as 1.8 percent, the biggest intraday increase since July 3. The measure has increased 5.6 percent this year.
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