Shares in Saudi Arabia, the Arab world’s biggest stock market, gained as companies started to release quarterly results.
Saudi Arabian Fertilizer Co., a unit of Saudi Basic Industries Corp. rose to the highest level since May 2. Almarai Co., the kingdom’s largest food producer by market value, gained the most since June 16 after announcing an 8.7 percent increase in second-quarter net income. Jarir Marketing Co. gained the most in a week after reporting an 8.4 percent gain in quarterly earnings.
The Tadawul All Share Index (SASEIDX) advanced 0.4 percent to 6,859.59 at the 3:30 p.m. close in Riyadh. The index had declined as much as 0.7 percent during trading today.
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