5 things you need to know on Tadawul today

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

1) Jarir Marketing Co. opened a new store in Kuwait on Tuesday at a cost of SAR 19 million, the company said in a statement. The financial impact is expected to show on Q3 2017 figures.

2) Savola Group said it completed on Tuesday the accelerated book building process to sell 16 million of its shares in Almarai Co., representing 2 percent of total shares in the dairy giant.

3) Banque Saudi Fransi’s (BSF) operations will not be affected by Kingdom Holding Co.’s acquisition of a 16.2 percent stake in the lender, Chairman Sulaiman Abdulrahman Algwaiz told Argaam.

4) Alinma Makkah Real Estate Fund is set to buy six hotel towers and two commercial malls in the first phase of the Jabal Omar Development project in Makkah, at a total value of SAR 6 billion.

5) Oil prices edged lower on Wednesday, with Brent crude down 0.3 percent at $54.11/bbl and WTI crude down 0.1 percent at $48.2/bbl. Crude oil production from OPEC members decreased by 79,000 barrels per day in August to 32.76 million barrels per day, OPEC said in its monthly report.

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