Saudi Equity Movers: Al Othaim, Almarai, MedGulf Insurance, Savola Azizia

The Tadawul All Share Index (SASEIDX) rose 0.3 percent to 6,708.99 at 11:41 a.m. in Riyadh.

The following stocks rose or fell in Saudi Arabia’s market.

Abdullah Al Othaim Markets (AOTHAIM) rose as much as 0.3 percent to 99.50 riyals, before falling to 99 riyals. The Saudi Arabian supermarket chain operator was given a “neutral” recommendation at HSBC Holdings Plc.

Almarai Co. (ALMARAI AB) advanced as much as 0.5 percent to 93.50 riyals after Saudi Arabia’s largest food producer by market value was raised to “overweight” from “neutral” at HSBC.

Mediterranean & Gulf Insurance & Reinsurance Co. (MEDGULF) advanced as much as 1.7 percent to 29.90 riyals after the insurance company known as MedGulf was rated A- by Standard & Poor’s Ratings Services.

Savola (SAVOLA) Azizia United Co. (SAVOLA AB) advanced as much as 0.7 percent to 27.30 riyals after the Saudi Arabian food producer was given a “neutral” recommendation at HSBC.

To contact the reporters on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editors responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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