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) United Electronics Co. (Extra) achieved the highest-ever gross profit margin of 19.31 percent in the third quarter this year, chief executive Mohamed Galal Ali Fahmy told Argaam.

2) Saudi Re for Cooperative Reinsurance Co.’s acquisition of Probitas Holdings (Bermuda) will help boost the company’s presence in global markets and diversify its business portfolio, chief executive Fahad Al-Hesni told Argaam.

3) Saudi Company for Hardware (SACO) will pay cash dividend of SAR 1.75 per share for H1 2017 on Oct. 11 through Saudi British Bank (SABB).

4) Saudi Printing and Packaging Co. (SPPC) has appointed Mohammad Amin Kashgari as the company’s new vice-chairman.

5) MetLife AIG ANB Cooperative Insurance Co. said it had been requalified by Saudi Arabia’s Council of Cooperative Health Insurance (CCHI).

6) Bank Aljazira has appointed Alinma Investment Co. and JP Morgan Saudi Arabia as financial advisors to manage its rights issue.

7) City Cement Co.’s board on Monday approved the temporary stoppage of a clinker line due to its high clinker inventory and weak demand due to the current market conditions.

8) Oil prices edged higher on Tuesday, after OPEC chief said that there are clear signs that the market is rebalancing. Brent crude was last up 0.1 percent at $55.86/bbl while WTI crude rose 0.2 percent to $49.66/bbl.

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