10 things to watch on Tadawul today

Tadawul trading screen

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

1) Rabigh Refining and Petrochemical Co. (Petro Rabigh) reported a net profit after Zakat and tax of SAR 1.588 billion for the first nine months of 2021.

2) The Saudi Investment Bank (SAIB) reported a net profit of SAR 775.6 million in the 9M 2021, a rise of 9% year-on-year (YoY).

3) Arabian Cement Co. reported a net profit after Zakat and tax of SAR 138.2 million for 9M 2021, a 5% increase YoY.

4) Electrical Industries Co. reported a net profit after Zakat and tax of SAR 25.1 million for 9M 2021.

5) National Metal Manufacturing and Casting Co.’s (Maadaniyah) shareholders are set to vote on Nov. 23, on a 16.76% capital cut recommendation, from SAR 281.12 million to SAR 234 million.

6) Saudi Arabia Refineries Co. (SARCO) reported a 28% YoY growth in net profit after Zakat and tax to SAR 8.2 million in 9M 2021.

7) Herfy Food Services Co. posted a net profit after Zakat and tax of SAR 112.2 million for 9M 2021.

8) Jarir Marketing Co. signed a contract to sell a piece of land it owns in Riyadh to Jarir Real Estate Co., a related party, for a value of SAR 97.9 million.

9) Gulf Union Alahlia Cooperative Insurance Co. received the Saudi Central Bank’s (SAMA) approval to renew the license to practice insurance and reinsurance activities.

10) Brent crude on Wednesday fell 51 cents to reach $85.89 per barrel. WTI crude also decreased 62 cents to reach $84.03/bbl.