Saudi Arabian shares extended gains, rising for a seventh day in its longest streak since March as investors anticipate year-end dividend payments and as US markets gained. The stock benchmark Tadawul All Share Index strengthened 0.85 percent to close Saturday at 6,384.08. Three stocks rose for each that declined. “Some of the positive sentiment from US markets is flowing through to the Saudi exchange,” said Asim Bukhtiar, an equity analyst at Riyad Capital. “Heading into the earnings season, Investors are taking a closer look at fundamentals as dividend announcements generally cheer investors.” “Investors are gearing up for the state budget announcement this week,” said Turki Fadaak, head of research at Riyadh-based Albilad Investment Co. “It may positively impact many companies related to infrastructure projects.” Saudi Cement Co. reached its highest closing price since July 2008, gaining 2.9 percent to SR70. Saudi British Bank gained 3.9 percent, the largest rise since Dec. 3, to SR40.30.
