Shares in Saudi Arabia rose to the highest level in three months on climbing oil prices and possible U.S. monetary stimulus as the stock market reopened following the week-long Eid holiday.
Saudi Basic Industries Corp. (SABIC), the world’s largest petrochemical maker known as Sabic, advanced to the highest level since July 1. Al-Rajhi Bank (RJHI), the kingdom’s biggest by market value, rose the most since Aug 4. Dar Al Arkan Real Estate Development Co. (ALARKAN) increased to the highest since July 8.
The Tadawul All Share Index gained 1.1 percent to 7,081.42, the highest since May 22, at 12:57 p.m. in Riyadh. The Arab world’s biggest stock market has increased 10 percent this year.
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