The Saudi market opened trading on Tuesday with a slight increase, as the main market index “TASI” rose by 0.07 percent to 10,291 points, compared to the previous close at 10,283.96 points.
Saudi Aramco shares rose 0.16 percent to 25.80 riyals, after the company’s CEO, Amin Nasser, said during the World Petroleum Conference in Riyadh yesterday that the company is studying additional paths to export crude oil and is working to expand its storage capacity abroad.
Jarir shares also rose by 4.12 percent to 16.68 riyals, after the company announced that its net profits increased by 15 percent to 374 million riyals during the third quarter of 2026, compared to the same period of the previous year.
“National Steel” shares topped the gains, rising by 7.88 percent to 3.15 riyals, followed by “SASCO” shares by 4.22 percent to 40 riyals, then “Arab Sea” by 3.43 percent to 4.22 riyals, and “Riyadh Cables” by 3.15 percent to 108 riyals.
Grocery price inflation in Britain accelerated to 2.5 percent in the four weeks ending October 4, compared to 2.3 percent in last month's report, according to data from market research company World Panel by Numerator, released Tuesday, increasing pressure on families already facing rising fuel and energy bills.
The largest increases were recorded in the prices of products such as water, concentrated drinks, juices, and skin care products, while the prices of butter, cheese, and chocolate fell at the largest pace, according to Reuters.
World Panel data provides the latest picture of consumer behavior in the United Kingdom, and also provides an early indication of food price pressures during October. Official British inflation data for September are scheduled to be published on October 21.
Food price inflation in Britain did not reach the levels that were expected earlier in the year, in light of intense competition between supermarkets, consumer resistance to further price increases, and improved hedging practices against price fluctuations in the sector.
On the other hand, groups working in the sector expect food price inflation in Britain to approach 7 percent in 2027, driven by unrest in the Middle East, high input costs, and extreme weather events associated with the “El Niño” phenomenon.
The data showed that British grocery store sales increased by 1 percent on an annual basis during the four weeks ending on October 4, which indicates a decline in sales in terms of quantities after accounting for the impact of inflation.
During the 12 weeks ending on October 4, sales of Tesco, the largest supermarket chain in the sector, rose by 1 percent year-on-year, but its market share fell slightly for the fifth consecutive month of reports.
As for Marks & Spencer, which is not fully included in the World Panel data, it remained the fastest growing food retailer in Britain, with its food sales increasing by 14.9 percent.
In a separate context, survey data published on Tuesday showed that British consumers continued to control their overall spending during September, but it negatively affected clothing sales.
The International Monetary Fund expects economic growth in the euro zone to slow to 1.1 percent this year, before accelerating slightly to 1.2 percent in 2027, in light of continued high energy costs and weak consumer confidence.
The Fund raised its forecast for the growth of the euro zone economy in 2026 by 0.2 percentage points compared to its estimates issued in July, according to the latest World Economic Outlook report, after the economy recorded a growth of 1.2 percent last year, according to Agence France-Presse.
Although the euro zone's GDP growth rebounded to 2.6 percent in the second quarter of this year, after recording zero growth in the first quarter, the Fund believes that inflation risks will remain until next year.
The conflict in the Middle East and the continuation of the Russian war on Ukraine led to a sharp rise in global oil and natural gas prices, which poses a major threat to the Eurozone and other economies that depend on importing most of their energy needs.
The Fund noted, in particular, that “gas stocks are still below their usual seasonal levels in parts of Europe, making gas market conditions vulnerable to unfavorable weather conditions ahead of the start of the winter heating season.”
He expected the inflation rate to reach 3.1 percent this year and 2.8 percent next year, significantly exceeding the European Central Bank's target of 2 percent.
This may require maintaining interest rates at levels that limit household spending and investment, while euro zone GDP growth is expected to be limited to 1.2 percent in 2027.
The Fund said that “core inflation is expected to return to the level of 2 percent only gradually,” predicting that it will reach this level in the euro zone by mid-2028, and in Britain by the end of 2027.
At the level of the region's largest economies, the Fund expected the German economy to grow by 1.3 percent this year, while the Spanish economy is likely to maintain strong performance, with growth of 2.5 percent.
On the other hand, the growth of the French economy is expected to be limited to 0.4 percent this year, compared to growth of 0.9 percent in 2025. The unemployment rate in France is also likely to rise to 8.4 percent, compared to 7.7 percent last year.
As for Britain, the Fund raised its forecast for economic growth this year to 1.3 percent, an increase of 0.3 percentage points compared to its estimate in July.
But he expected British growth to slow to 1.2 percent next year, considering that “high energy prices and long-term interest rates will negatively affect consumption and investment.”
