7 things you need to know before Tadawul opens

Here’s what you need to know before the opening bell rings at the Saudi Stock Exchange (Tadawul) on Monday.

1) OPEC and non-member producers failed to reach a consensus on Sunday over a deal to freeze output after discussions in Doha dragged on for more than five hours, news agencies reported.

2) Saudi Arabian Mining Co. (Maaden) reported a net profit of SAR 168.9 million for the first quarter of 2016, a 35.2 percent year-on-year (YoY) drop attributed to a 17 percent slump in revenue, lower commodity prices, and higher finance charges.

3) Saudi Arabian Fertilizer Co. (SAFCO) posted a net profit of SAR 286 million for the first quarter of 2016, a 51.5 percent drop year-on-year (YoY). The decline was attributed to lower product selling prices. However, the impact was minimized by an increase in quantities sold.

4) Arab National Bank’s first quarter net profit declined 2.8 percent to SAR 749.2 million compared to the same quarter last year because of the total drop in operating income on lower fees and commissions.

5) Tawuniya, Saudi Arabia's largest insurance company, reported a net profit of SAR 61.5 million for first quarter of 2016, a 36 percent year-on-year (YoY) decline on realizing losses on policyholders and shareholders’ investments.

6) Saudi Ceramic Co., a producer of ceramic tiles and sanitary ware, reported a net profit of SAR 48 million for the first quarter of 2016, a 43 percent decline compared to the same period last year on lower sales and other income.

7) Hail Cement Co. reported a net profit of SAR 33.1 million for the first quarter of 2016, a 12 percent rise year-on-year (YoY) attributed to higher costs of sales due to adverse market conditions.