8 things to watch on Tadawul today

Tadawul trading screen

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

1) Al Sagr Cooperative Insurance Co. narrowed its net loss to SAR 69.2 million in the first nine months of 2021.

2) Swicorp Co. received a notification about the Capital Market Authority’s (CMA) board decision to dismiss it from managing the publicly traded Swicorp Wabel REIT Fund, and to appoint Alinma Investment Co. as an alternative fund manager. 

3) Shareholders of stc approved the company’s dividend policy for the next three years, starting from Q4 2021.

4) Red Sea International Co. signed a seven-year contract worth SAR 245.8 million with Baker Hughes to design, manufacture, supply and manage remote mobile modular buildings to support its oil drilling operations in the Eastern region.

5) Aljazira Takaful Taawuni Co.’s shareholders approved the board of directors’ recommendation to increase capital to SAR 550 million from SAR 470.66 million through 16.86% bonus shares.

6) National Agricultural Development Co. (NADEC) completed the acquisition of Riyadh-based Second Milling Co. (MC2) with consortium members.

7) Saudi Company for Hardware (SACO) announced the closure of its store in Hafar Al Batin city, effective as of Dec. 1.

8) Brent crude on Thursday gained 70 cents to reach $69.57 per barrel. WTI crude also increased 71 cents to reach $66.28/bbl.