10 things to watch on Tadawul today

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

1) Saudi Basic Industries Corp. (SABIC) reported a 73.8% decline year-on-year (YoY) in net profit after zakat and tax to SAR 5.6 billion for fiscal year (FY) 2019.

2) Saudi Electricity Co. (SEC) posted an estimated net profit after Zakat and taxes of SAR 1.42 billion for the fiscal year 2019, a 19.5% YoY decline. 

3) National Shipping Company of Saudi Arabia's (Bahri) net profit rose 28.98% YoY to SAR 620.7 million for FY 2019.

4) Savola Group reported a net profit after zakat and tax of SAR 475.6 million for FY 2019, against a net loss of SAR 520.4 million a year earlier.

5) Etihad Atheeb Telecommunication Co. (GO) widened net losses after zakat and tax by 29.5% YoY to SAR 62.5 million in the nine-month period ending Dec. 31, 2019.

6) Saudi Indian Company for Cooperative Insurance (Wafa Insurance) is expected to disclose the financial statements for the 3-month period ended June 30, 2019 by May 31, 2020.

7) The National Commercial Bank’s (NCB) net profit rose 18.84% YoY to SAR 11.4 billion for FY 2019.

8) Saudi Telecom Co. (STC) signed a non-binding memorandum of understanding (MoU) with Vodafone Group to acquire the latter’s 55% stake in Vodafone Egypt.

Savola Group recommended a 3% cash dividend for FY 2019, at SAR 0.30 per share, amounting to SAR 160.2 million.

Brent crude on Thursday declined $1.35 to reach $59.34 per barrel whereas WTI Crude decreased $1.28 to reach $52.91/bbl.