UPDATE 2-MIDEAST STOCKS-Saudi stocks resume rise before budget; SABB rockets on bonus shares | Reuters:
"Saudi Arabian stocks resumed rising ahead of the announcement of the kingdom's 2015 state budget, which is now expected to be released on Thursday and to show the government maintaining spending at high levels despite the plunge of oil prices.
The main Saudi index rose 1.0 percent to 8,629 points in early trade on Wednesday, nearing technical resistance around 8,700 points, where its downtrend line from September comes in.
The rise was broad-based; property developer Dar Al Arkan , the most heavily traded stock, climbed 1.0 percent, while the biggest bank, National Commercial Bank, gained 1.1 percent."
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