9 things you need to know on Tadawul today

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

1) Al Rajhi Bank’s net profit for the second quarter 2017 rose 6.3 percent year-on-year (YoY) to SAR 2.2 billion, due to a rise in net special commission income and other operating income.

2) Advanced Petrochemical Co. posted a net profit of SAR 194.5 million for Q2, up 1.3 percent YoY, due to an increase in share in profit on equity investment in SK Advanced Co. Ltd.

3) The National Shipping Company of Saudi Arabia (Bahri) reported a net profit of SAR 153.9 million, down 68.4 percent YoY due to lower spot market rates and higher bunker costs.

4) City Cement Co.’s net profit for Q2 dropped 80.1 percent YoY to SAR 12.4 million, due to lower sales, higher cost of sales, and an increase in general and administrative expenses.

5) Al-Hassan Ghazi Ibrahim Shaker (Shaker) saw a net loss of SAR 21.1 million versus a net profit of SAR 47 million in Q2 2016, mainly on the back of a seasonal decline in sales.

6) Al Abdullatif Industrial Investment Co. second-quarter net profit rose by 8.5 percent YoY to SAR 13.7 million, driven by lower cost of goods sold, and a decline in financing charges.

7) Saudi Arabia Fertilizers Co. (SAFCO) net profit for Q2 2017 dropped 32.4 percent YoY to SAR 204.3 million due to declines in selling prices, volumes of urea sold, and profit share from Ibn Al-Baytar.

8) Bank Aljazira’s net profit for the second quarter rose 23.6 percent YoY to SAR 220 million due to a 14 percent increase in operating income.

9) Oil prices extended gains on Tuesday, after OPEC asked its members to ensure better compliance to the output curb deal. Brent crude was last up 0.6 percent at $48.87/bbl, while WTI crude rose 0.6 percent to $46.62/bbl.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com