Saudi Arabia’s benchmark stock index rose the most in two weeks, led by banks, petrochemicals and telecommunication companies, amid optimism about fourth-quarter earnings and gains in U.S. equities.
Al Rajhi Bank (RJHI), the kingdom’s biggest bank by market value, climbed to the highest since Jan. 20. Saudi Basic Industries Corp. (SABIC), known as Sabic, advanced the most in more than two weeks, while Saudi Telecom Co. (STC) increased the most in a week.
The Tadawul All Share Index added 0.4 percent to 7,025.31 at the close in Riyadh, the biggest gain since Jan. 12.
Saudi Arabian Shares Rise, Led by Banks, Petrochemicals - Bloomberg
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