JEDDAH: Saudi Arabia’s stock market edged up 0.4 percent after falling 2.6 percent to a one-month low in the two previous sessions on news that the National Commercial Bank (NCB) will float in October, which will temporarily suck liquidity from the market.

The main index closed higher at 10,765.02 points.

Food maker Savola Group was one of the main supports, adding 2.1 percent after Egyptian newspaper Alborsa reported that the company was no longer seeking to take over Egyptian baker Bisco Misr, which has also been approached by US-based Kellogg Co. and Abraaj Investment Management.

However, Bisco Misr said in a statement that it had not received any notification on the withdrawal of any companies that had expressed an intention to bid for it.

Dubai’s bourse edged down as investors focused on the listing of retail and restaurants start-up Marka, while and other markets in the region were mixed.

Marka shares jumped 59 percent — having doubled in price at one point — as they listed on Thursday in the first flotation on the emirate’s main stock market since 2009.

Dubai’s main index, which does not yet include Marka, pulled back 0.2 percent.

Thursday was the last day on which institutional investors could sell stocks on the market in order to raise cash and subscribe for the much bigger initial public offer of Emaar Malls Group.