10 things to watch on Tadawul today

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

1) Saudi Arabian Mining Co. (Maaden) reported a net loss after zakat and tax of SAR 370.8 million in H1 2019, compared to a net profit of SAR 1.15 billion a year earlier on a decline in product prices, and sales volumes of gold and aluminum.

2) Saudi Telecom Co. (STC) posted a net profit after zakat and tax of SAR 5.59 billion for the first half of 2019, a rise of 11.25 percent year-on-year (YoY), the company said in a bourse statement.

3) National Shipping Company of Saudi Arabia (Bahri) reported a net profit after zakat and tax of SAR 224.9 million for the first half of 2019, down 27.1 percent year-on-year (YoY) due to lower returns of logistics services, higher oil transportation rates and higher financing cost.

4) Saudi Kayan Petrochemical Co. (Saudi Kayan) reported a net loss after zakat and tax of SAR 479.6 million for the first half of 2019, compared to a net profit of SAR 1.34 billion a year earlier due to lower selling prices and higher financing costs.

5) Saudi Arabia Fertilizer Co. (SAFCO) posted a net profit after zakat and tax of SAR 715.9 million for the first half of 2019, a rise of 10.5 percent year-on-year (YoY), due to higher selling prices, despite lower sales volumes.

6) Thob Al Aseel Co.’s board of directors has recommended a 10 percent cash dividend for the first half of 2019, at SAR 1 per share, amounting to SAR 30 million.

7) Al Sorayai Trading and Industrial Group Co. incurred net losses after zakat and tax of SAR 84.7 million for the first half of 2019, versus net profit of SAR 2.3 million a year earlier, due to suboptimal utilization of production capacity amid insufficient financial resources and weak market collections.

8) Saudi Telecom Co.’s (STC) board of directors has recommended a 10 percent cash dividend for the second quarter of 2019, at SAR 1 per share, amounting to SAR 2 billion.

9) Saudi Paper Manufacturing Co. (SPM) has signed an Islamic credit facility agreement with Samba Financial Group to reschedule an existing loan worth SAR 25.96 million.

10) Brent crude on Tuesday gained 11 cents to reach $63.37/bbl, while WTI crude also increased 59 cents to reach $56.22/bbl.