10 things to watch on Tadawul today

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

1) The Company for Cooperative Insurance (Tawuniya) reported a net income of SAR 266.3 million in 2021, a drop of 32% from SAR 393.3 million in 2020.

2) Saudi Automotive Services Co. (SASCO) reported a 27% rise in the 2021 net profit after Zakat and tax to SAR 50.8 million, from SAR 40.1 million a year earlier.

3) Ataa Educational Co. posed a net profit after Zakat and tax of SAR 67 million for the first half ending on January 31, 2022, compared with SAR 11.3 million a year earlier.

4) City Cement Co. reported a net profit after Zakat and tax of SAR 160.3 million in 2021, down 27%, compared to SAR 220.5 million in 2020.

5) City Cement Co.’s board of directors declared a 5% cash dividend, at SAR 0.50 per share, for H2 2021 from retained earnings.

6) The Capital Market Authority (CMA) approved Al Rajhi Bank’s request to increase capital to SAR 40 billion by issuing three bonus shares for every five existing shares.

7) Fawaz Abdulaziz Alhokair Co.’s board approved amending the previous recommendation on reducing capital to SAR 1.15 billion.

8) Wataniya Insurance Co. issued prospectus for its capital increase through SAR 200 million rights issue.

9) Batic Investments and Logistics Co. signed a MoU with AFKAR Logistics Co. to fully acquire the latter through its subsidiary, Saudi Transport and Investment Co.

10) Brent crude on Friday gained 3.05% to settle at $112.67 per barrel. WTI crude also increased 3.12% to reach $109.33/bbl.