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Saudi Shares Climb After Petrochemicals Exceed Profit Estimates

Saudi Arabian shares rose to the highest in a week after petrochemical companies reported better-than-estimated earnings and oil jumped.

Saudi Basic Industries Corp., the world’s largest petrochemicals maker, rose to the highest since September 2008, while National Industrialization Co. climbed to a three-year high. Rabigh Refining and Petrochemicals Co. surged by the maximum allowed in a single trading session.