Saudi Shares Gain Most in Three Weeks on U.S. Jobless Data
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Saudi Arabian shares rose the most in almost three weeks as investors bet a larger-than-forecast decline in U.S. jobless claims signaled economic growth is gathering speed in the biggest crude-consuming nation.
The Tadawul All Share Index advanced 0.1 percent, the most since Nov. 9, to 6,298.89 at the 3:30 p.m. close in Riyadh. Leading the advance were Banque Saudi Fransi, the fourth-largest publicly traded lender in the kingdom, Etihad Etisalat Co., the second-biggest mobile-phone operator and Samba Financial Group, the No. 2 Saudi bank. Tadawul has gained 9.4 percent from this year’s low in May.