MIDEAST STOCKS-Bluechips help Saudi hit 12-day high; Qatar up | Reuters:
"Nov 5 (Reuters) - Saudi Arabia's bourse surged to a 12-day high on Tuesday thanks to renewed investor confidence in bluechip petrochemical and banking shares following signs of recovery in third-quarter earnings.
The main index rose 1.2 percent to 8,170 points, its highest close since Oct. 24 and also its fifth consecutive gain.
Petrochemical shares index added 1.6 percent. Saudi Basic Industries Corp (SABIC), the largest stock by market value in the region, climbed 2.2 percent.
Most of the sector's firms last month reported growth in third-quarter earnings and some numbers were above forecasts. This was a change from depressed growth in recent quarters where weaker global demand weighed."
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