Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Saudi Arabian Shares Rise Led by Sabic and Saudi Telecom Co.

Saudi Arabia’s benchmark stock index rose to the highest in a month, led by petrochemicals, banks and telecommunication companies, on optimism about fourth-quarter earnings.

Saudi Basic Industries Corp., known as Sabic, advanced to the highest since Nov. 7, while Saudi Telecom Co. increased the most in two months. Al-Rajhi Bank, the kingdom’s biggest bank by market value, climbed the most since Dec. 1.

The Tadawul All Share Index gained 0.6 percent to 6810.98, the highest since Nov. 14, at the close in Riyadh.

“Investors are optimistic about fourth-quarter earnings coming out soon as well as the issuance of the Saudi government budget for this year,” Turki Fadaak, head of research and consultancy at Albilad Investment Company, said in an e-mail.

The kingdom’s break-even oil price to balance next year’s budget, to be announced later this month, is estimated at $65 a barrel, up from $62.20 this year, National Commercial Bank said in an e-mailed report on Nov. 27. The biggest producer in the Organization of Petroleum Exporting Countries may record revenue of $355 billion from oil exports this year, up from $317 billion in 2011, according to NCB, the largest Saudi lender by assets.

Sabic, the world’s largest petrochemical maker, rose 0.6 percent to 91.25 riyals, and STC climbed 2.2 percent to 42.4 riyals. Al-Rajhi bank increased 0.8 percent to 65 riyals.

Oil capped its fifth weekly gain since Nov. 2 as manufacturing grew in the U.S. and China, the world’s two biggest crude-consuming countries.

Oil also rose as the euro strengthened against the dollar after European Union chiefs pledged to seek a joint strategy for handling failing banks. The euro gained as much as 0.7 percent to $1.3173, the highest level since May. A stronger euro and weaker dollar raise dollar-denominated oil’s appeal as an investment alternative.

Saudi Arabia’s stock exchange is the only Persian Gulf bourse operating Saturdays.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.