7 things to consider as Tadawul starts trading

14/03/2018 Argaam

 

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

 

1) Tadawul's potential inclusion two FTSE Russell benchmark indices - Emerging Markets and Global All Cap index -  in 2018 is likely to result in fund inflows of $3 billion, NCB Capital said in a report.

 

2) Saudi Automotive Services Co.’s (SASCO) board of directors recommended an 11.11 percent capital increase to SAR 600 million, through the issuance of one bonus share for every nine shares held.

 

3) National Petrochemical Co. (Petrochem) said in a corrective statement that its sales during the fiscal year 2017 were SAR 7.4 billion and not SAR 9 billion as announced before.

 

4) Saudi Automotive Services Co.’s (SASCO) board of directors recommended a five percent cash dividend for fiscal year 2017, at SAR 0.5 per share, amounting to SAR 27 million.

 

5) Southern Province Cement Co.'s net profit for Q4 2017 fell 23.8 percent year-on-year to SAR 115 million, hurt by weak demand and increased competition.

 

6) The Capital Market Authority (CMA) approved Arbah Capital Co’s request to list a GCC trade-focused mutual fund on Tadawul.

 

7) Oil prices were mixed on Wednesday, with Brent crude down 0.1 percent at $64.59/bbl while WTI crude rose 0.1 percent to $60.76/bbl.

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