8 things to watch on Tadawul today

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

1) The Saudi Stock Exchange (Tadawul) announced the calculation and publishing of the Parallel Market Index (Nomu) to be suspended by the end of trading on Thursday, May 14, 2020.

2) Swicorp Wabel REIT Fund posted a net profit of SAR 5.1 million (SAR 0.08 per unit) for the quarter ended March 31, 2020, down 29%.

3) The National Agricultural Development Co.’s (NADEC) shareholders are set to vote, on May 5, on a 20% capital hike to SAR 1.016 billion through the issue bonus shares.

4) Saudi Automotive Services Co. (SASCO) secured a contract worth SAR 209 million, including VAT, to supply fuel and other derivatives to the General Security in Makkah Region.

5) National Industrialization Co.’s (Tasnee) shareholders will vote, on May 5, on the business transactions and contracts signed with Banque Saudi Fransi (BSF).

6) Saudi Industrial Services Co.'s (SISCO) shareholders approved the board of directors' recommendation on paying cash dividend at 6% of capital, or SAR 0.60 a share, for the fiscal year 2019.

7) Jarir Marketing Co.'s (Jarir) shareholders approved authorizing the board of directors to pay interim dividend for FY2020 on a quarterly or semi-annual basis.

8) Brent crude on Wednesday gained 38 cents to reach $29.98 per barrel. WTI Crude also increased 50 cents to reach $20.61/bbl.