Riyadh: Saudi Arabian stocks rose for a fourth day as confidence in the economic recovery drew investors to lower-priced shares.
Saudi Basic Industries Corp (Sabic), the world's largest petrochemical maker, Al Rajhi Bank and Banque Saudi Fransi, helped the Saudi Tadawul All Share Index to advance 2.7 per cent to 6,278.26, the highest level since May 22.
"Prices are considered attractive by the market after recent lows and there is a general pickup," said John Sfakianakis, chief economist at Banque Saudi Fransi in Riyadh. The Tadawul lost 11 per cent in May.
"The relatively positive air in the global equities markets and oil prices offers important support," Sfakianakis added.
