An investor monitors a screen displaying stock information on L'azurde Company for Jewellery after it was listed at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia June 29, 2016. REUTERS/Faisal Al Nasser
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Saudi stocks climbed from the lowest level in eight months after an OPEC deal to cut oil output helped investors look past concerns over possible legal action against the kingdom for alleged ties to the Sept. 11 attacks.Traders exchanged 265 million shares, 68 percent above the gauge's 30-day average.Al Rajhi Bank gained 3.9 percent after sinking the most in more than a year on Wednesday and state-controlled petrochemical producer Saudi Basic Industries Corp. climbed 4 percent from the lowest level since April.Twelve-month Saudi riyal forward contracts, which some investors use to bet whether the government will allow its currency to depreciate, rose 50 points 3:35 p.m. in Riyadh to 625 basis points, the highest level in almost two months, according to prices compiled by Bloomberg.
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