Riyadh: Saudi Arabian shares rose, led by Saudi Basic Industries Corporation, after smaller-than-expected US job losses boosted optimism for a global economic revival.
The world's biggest chemicals maker, also known as Sabic, gained 1.9 per cent to 91.75 riyals (Dh89.90), the highest since October 2008.
The Tadawul All Share Index gained 0.9 per cent to 6,539.67 in Riyadh. The measure is up more than 6 per cent this year as oil prices surged to the highest level in almost eight weeks. Saudi Arabia is the world's largest crude exporter.
Global stocks and the dollar rallied while US Treasuries fell after the Labour Department reported that payrolls dropped 36,000 last month. The total was forecast to fall by 68,000, according to economists surveyed by Bloomberg News.
Asian stocks rose for a second week, almost erasing the MSCI Asia Pacific Index's losses this year. The Standard & Poor's 500 Index increased for a sixth day on Friday.
