Almarai, Rabigh Refining, Jabal Omar, Filing & Packing: Saudi Preview

The following stocks may rise or fall in Saudi Arabia’s market. Stock symbols are in parentheses and prices are from the last close.

The Tadawul All Share Index on Dec. 8 rose 0.3 percent to 6,457.18, the highest since Nov. 6.

Almarai Co. Ltd. (ALMARAI AB): The largest food producer in Saudi Arabia was downgraded to “neutral” from “outperform” at Credit Suisse. The shares rose 0.9 percent to 113 riyals.

Filing & Packing Materials Manufacturing Co. (FIPCO AB): The Saudi Arabian plastic-bag maker will spend 20 million riyals ($5.3 million) on the expansion of cable production. The shares were unchanged at 27.3 riyals.

Jabal Omar Development Co. (JOMAR AB): The real-estate developer in Saudi Arabia said a delay in its Mecca project may reduce the cost of the project and delay the flow of expected revenue. The shares retreated 0.3 percent to 16.1 riyals.

Rabigh Refining and Petrochemicals Co. (PETROR AB): The joint venture between Sumitomo Chemical Co. and Saudi Aramco plans to shut its plant in April for 30 days of maintenance, the unit’s chief executive officer said. In a separate statement, the company said one of its petrochemical units afflected by an Oct. 23 power outage resumed operations except for two polyethylene units and three ovens in the ethane crackers units. The shares increased 2 percent to 23 riyals.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net; Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.