8 things to watch on Tadawul today

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

1) Sahara International Petrochemical Co. (Sipchem) reported a net profit of SAR 325.6 million for the first half of 2019, a 10.3 percent year-on-year (YoY) drop mainly on lower sales revenue driven by a decrease in selling prices of most products.

2) Ataa Educational Co.’s retail offering, which closed on July 18, was 426 percent oversubscribed, financial advisor and lead manager HSBC Saudi Arabia said in a statement.

3) Saudi Automotive Services Co. (SASCO) reported a net profit after zakat and tax of SAR 14 million for H1 2019, a decline of 21.6 percent year-on-year (YoY).

4) Tabuk Cement Co. reported net profit after zakat and tax of SAR 12.61 million in the first half of 2019, versus net loss of SAR 47.3 million in year-earlier period, due to higher revenue, improved selling prices, lower expenses, in addition to recording equity investment gains.

5) Raydan Cuisines and Restaurants Co. opened a new branch in Makkah yesterday, July 24, the company said in a bourse statement.

6) AlMa'athar REIT’s valuation reports were issued on June 30, 2019, Fund manager Osool & Bakheet Investment Co. said in a bourse statement. 

7) Saudi Vitrified Clay Pipes Co. reported a net profit after zakat and tax of SAR 2.2 million for the first half of 2019, an 18.5 percent year-on-year (YoY) drop.

8) Brent crude on Thursday gained 12 cents to reach $63.30/bbl, while WTI crude also increased 18 cents to reach $56.06/bbl.