MIDEAST STOCKS- #Saudi bourse gains in early trade; other markets quiet - Agricultural Commodities - Reuters

MIDEAST STOCKS-Saudi bourse gains in early trade; other markets quiet - Agricultural Commodities - Reuters:

Saudi Arabia’s stock market rose in early trade on Thursday, supported by petrochemicals and banking shares, while trade on other major bourses in the Gulf was subdued.

Saudi Arabia’s benchmark index added 0.3%, driven by a 0.4% gain in Al Rajhi Bank and a 1.5% rise in Saudi Arabian Fertilizers.

Saudi Arabia said on Wednesday it had completed the first batch of its flour milling sector privatisation, according to a statement by the state grain buyer and privatisation centre.

The privatisation process had attracted initial interest from some of the world’s largest agribusiness companies, including Archer Daniels Midland Co and Bunge Ltd and was seen as a litmus test for other large state asset sales to follow.

Dubai’s main share index slipped 0.1%, with Emirates NBD Bank losing 0.8% and logistic firm Aramex down 1.2%.