8 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) Saudi Kayan Petrochemical Co. said its net profit for Q2 2017 surged 149 percent year-on-year (YoY) to SAR 242 million due to higher production, increased sales and improved selling prices.

2) Qassim Cement said its Q2 2017 net profit plunged 53.3 percent YoY to SAR 53 million due to a decline in sales value and volume, as well as other income.

3) The fluctuation limit on Al Jouf Cement Co.’s stock after capital hike will be based on a share price of SAR 7.37, the Saudi Stock Exchange (Tadawul) said on Tuesday.

4) State-run oil giant Saudi Aramco said the first phase of the new Energy Industrial City, will be completed in 2021 on a total area of nearly 12 square kilometers.

5) Riyadh’s real estate market continued to soften in Q2 2017 amid weaker performance across the board, real estate consultancy JLL said in a recent report.

6) Zahrat Al Waha has issued a prospectus for its initial public offering on Tadawul after obtaining approval from the Capital Market Authority (CMA).

7) Saudi Arabia’s CMA has approved Musharaka Capital’s request to offer and list units of its Real Estate Investment Traded Fund (REIT) on Tadawul, the market regulator said.

8) Oil prices held steady on Tuesday, with Brent crude last up 0.1 percent at $48.45/bbl and WTI crude rising slightly to $46.03/bbl.

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