Saudi stocks at a 15-year high

Saudi stocks rose in early trading on Thursday, with the stock index remaining at a 15-year high.

The Saudi Stock Exchange index rose 0.2%, supported by an increase in the share of Al-Rajhi Bank by 0.9% and a rise in the share of Dr. Sulaiman Al-Habib Medical Services Group by 3.3%.

shares rose 0.2% after HSBC raised its target price per share to 38.8 from 37.5 riyals.

A Reuters poll of economists showed that the six member states of the Gulf Cooperation Council will see faster growth rates next year.

Saudi Arabia is expected to witness a growth rate of 5.1% next year, compared to 2.3% this year, and a sharp contraction of 4.1% last year.

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