An investor walks past a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia June 29, 2016. REUTERS/Faisal Al Nasser
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The country's Tadawul All Share Index leaped 5.5 percent Wednesday, the most since August 2015, as traders embraced a trio of key announcements. Hours after global index provider MSCI Inc. opened the way for Saudi stocks to be included in its gauges, ruler King Salman enacted a palace shake-up and restored a raft of benefits for state employees.The developments may continue to drive up Saudi equities for investors who anticipate inflows from passive funds, an emboldened economic-reform platform and consumers with more cash to spend. Banks were the biggest winners, although almost every sector of the 172-member index advanced. Removal of the bonuses and allowances in September sparked a 3.8 percent decline in Saudi Arabia's benchmark index.
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