Saudi Stocks Advance to Six-Week High on Earnings Outlook, Oil
This article is for subscribers only.
Saudi stocks advanced to the highest level in six weeks as investors start the month with expectations companies will post encouraging quarterly earnings and oil climbed to its highest price since 2008.
Saudi Basic Industries Corp., the world’s biggest petrochemical maker, added 0.7 percent, and Etihad Etisalat Co., the kingdom’s second-largest phone company, advanced 2.4 percent. The 146-member Tadawul All Share Index rose 0.9 percent, the highest level since Feb. 14, to 6,622.65 at the 3:30 p.m. close in Riyadh.