ALBAWABA – Saudi stocks rose on Sunday to the highest levels since October, with Saudi Aramco and Al-Rajhi Bank in the lead.
Saudi Aramco stocks closed at about 1.7 percent higher, with oil prices rising on US Congress passing the debt ceiling deal and the US jobs data report showing higher-than-expected outcomes.
Oil prices may be facing another leap if members of the Organization of Petroleum Exporting Countries and their allies (OPEC+) approve further production cuts in their oil policy meeting on June 4.
The shares of Al-Rajhi Bank also rose by 2.5 percent at closing, as well as the shares of Maaden, Riyadh Bank and the National Bank, gaining 5.2, 3.8 and 1.8 percent, respectively.
The general stocks index "TASI" was up 207 points at the end of business, at 11222 points, with trading transactions amounting to SAR4.38 billion.
