Saudi shares increase anew
Last updated: Sunday, August 12, 2012 5:02 PM
JEDDAH — Saudi stock benchmark Tadawul All Share Index climbed 0.48 percent to 6,987.06 points at close Saturday, the highest since May 29, on valuations and optimism in the US. The index has risen 8.9 percent this year.
Etihad Etisalat Co. (Mobily), a Saudi Arabian telecommunications operator, had its biggest gain since April 1. Saudi British Bank (SABB) reached its highest close in more than a month while Arab National Bank (ANB) jumped the most in a week. Mobily gained 2.3 percent to SR67.5. SABB, 40 percent owned by HSBC Holdings Plc, rose 2.1 percent to SR33.7. ANB added 1.7 percent to SR29.5.
US stocks rose for the fifth week, giving the S&P 500 Index the longest rally since March. —SG
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