10 things to watch on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Thursday.

1) Jabal Omar Development Co. reported net losses of SAR 49.25 million for the first nine months of 2019, versus net earnings of SAR 192.3 million in year-earlier period, driven by lower sales revenue.

2) The listing and trading of Al Kathiri Holding Co. on the Saudi Stock Exchange (Tadawul) will begin as of Sunday, Nov. 3, 2019 with the symbol (3008) under basic materials sector.

3) Anaam International Holding Group widened net losses by 71.4 percent year-on-year (YoY) to SAR 10.8 million for the first 9 months of 2019, driven by lower sales and higher expenses.

4) Mouwasat Medical Services Co. reported a net profit after zakat and tax of SAR 290.6 million for the first nine months of 2019, a 5.7 percent year-on-year (YoY) increase.

5) Ataa Educational Co.’s board of directors recommended a 10 percent cash dividend for the fiscal year ended July 31, 2019, at SAR 1 per share, amounting to SAR 40 million.

6) Methanol Chemicals Co. (Chemanol) swung to a net loss after zakat and tax of SAR 41 million in the first nine months of 2019, compared to a net profit of SAR 43.8 million a year earlier.

7) Raydan Cuisines and Restaurants Company’s shareholders have approved the partial acquisition of Aljonah For Desserts & Catering during the extraordinary general assembly meeting held on Oct.29.

8) Middle East Specialized Cables Co. (MESC) was able to reduce its net loss after zakat and tax by 60.1 percent year-on-year (YoY) in the first nine months of 2019 to a net loss of SAR 16.8 million.

9) Saudi Paper Manufacturing Co. (SPM) will face termination by Nov. 13 under the Saudi Companies Law if it fails to hold an extraordinary general assembly meeting within 45 days from the date its board of directors was informed of losses or shareholders fail to pass a resolution.

10) Brent crude on Thursday gained 21 cents to reach $60.82 per barrel whereas WTI Crude also increased 9 cents to reach $55.15a/bbl.