6 things to watch on Tadawul today

16/10/2018 Argaam

 

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

 

1) Saudi Industrial Export Co. (SIECO) and Tri-Spectrum Ltd. agreed to end their export agreement as of Oct. 15, without any due obligations.

 

2) The Capital Market Authority (CMA) has passed a resolution approving the public offer by AlBilad Investment Company of Albilad Murabah Fund.

 

3) Saudi Industrial Exports Co. (SIECO) began its rights issue Oct. 15, to raise its capital to SAR 64.8 million from SAR 10.8 million.

 

4) SICO Investment Bank has revised its rating on Saudi Arabia Fertilizers Co. to Buy from Sell, with a target price of SAR 90, amid a stronger outlook for urea going forward.

 

5) Driven by Saudi British Bank (SABB) acquisition of the entire share of capital of Alawwal Bank for $5 billion, MENA inbound mergers & acquisitions (M&A) have reached at an all-time high, rising to $13.1billion.

 

6) Oil prices were up on Tuesday morning, with Brent crude 0.4 percent higher at $81.06 per barrel (bbl), while West Texas Intermediate (WTI) was last up 0.08 percent at $71.84/bbl.

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