8 things to watch on Tadawul today

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

1) The Saudi Stock Exchange (Tadawul) reminded the market participants of the imminent launch of the derivatives market and the beginning of trading MT30 Index Futures on Sunday, 30 August.

2) Salama Cooperative Insurance Co. was unable to publish financial results for the first six months on time.

3) MEFIC REIT Fund posted a net loss of SAR 26.6 million for H1 2020.

4) Arab National Bank (ANB) is planning to fully redeem its SAR 2 billion, Tier 2 Sukuk on Oct. 7, 2020 at face value.

5) Shareholders of City Cement Co. approved, on August 25, a 26% capital cut to SAR 1.4 billion from SAR 1.89 billion, on having a capital surplus.

6) Riyad Capital distributed 2.10% cash dividend to Riyad REIT Fund’s unit holders for H1 2020, at SAR 0.20 per unit, amounting to SAR 34.34 million.

7) Saudi Re for Cooperative Reinsurance Co. (Saudi Re) reappointed Hesham Al-Shaikh as chairman and Mishari-Al Hussain as vice chairman for the three-year term, started May 11, 2020, until May 10, 2023.

8) Brent crude on Thursday gained 11 cents to reach $45.75 per barrel whereas WTI Crude decreased 3 cents to reach $43.36/bbl.