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Saudi Equity Movers: Savola Azizia, MedGulf, Jarir, Almarai

The Tadawul All Share Index rose 0.7 percent to 6,731.24, the highest level since Jan. 17, at the 3:30 p.m. close in Riyadh.

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

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

Jarir Marketing Co. (JARIR AB) lost 0.3 percent to 166.50 riyals after Saudi Arabia’s largest stationery and bookseller by market value was lowered to “neutral” from “overweight”.

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

Savola Azizia United Co. (SAVOLA AB) rose 1.5 percent, the largest gain since May 4, to 27.30 riyals after the Saudi Arabian food producer was given a “neutral” recommendation at HSBC.

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