Saudi benchmark rises most in nearly two weeks

Riyadh: The Tadawul All Share Index rose the most in almost two weeks, gaining 0.9 per cent to 6,147.27 in Riyadh.

Al Babtain Power & Tele-communication Co rose as much as 2.2 per cent to 37.5 Saudi riyals, the highest since July 18. The Saudi Arabia-based supplier of transmission towers is holding talks to buy the LeBlanc Group of Companies' 49 per cent stake in Al Babtain LeBlanc Telecommunication Systems Ltd., Al Babtain Power said in a statement yesterday. Al Babtain Power owns 51 per cent of Al Babtain LeBlanc Telecommunication.

Al Rajhi Company for Co-operative Insurance rose 1.6 per cent to 38.7 riyals. Saudi Basic Industries Corp (Sabic) advanced 2.6 per cent, the most in almost two weeks, to 88.75 riyals. The world's biggest petrochemical producer said quarterly sales rose 63 per cent.