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Sabic Rises Most in 4 Weeks in Riyadh Trading as Oil Advances

Dec. 1 (Bloomberg) -- Saudi Basic Industries Corp., the world’s biggest petrochemical maker, rose the most in almost four weeks after oil gained on signs of accelerating growth in China and shrinking fuel inventories in the U.S.

The shares advanced 1.2 percent, the most since Nov. 6, to 101.75 riyals at the 3:30 p.m. close in Riyadh. Crude oil for January delivery rose as much as 1.8 percent to $85.59 a barrel in electronic trading on the New York Mercantile Exchange.Egyptian Stocks: Talaat Moustafa and Six of October Advance

Saudi Arabia holds one-fifth of the world’s proven oil reserves.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net.

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