5 factors to keep in mind before Tadawul opens

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

1) Oil prices continued to rise on Friday after the OPEC deal earlier in the week to cut oil output to restore balance to the market. Brent crude rose 0.8 percent to $50.19/bbl, while WTI crude was 0.9 percent higher at $48.24/bbl.

2) Al Rajhi Bank, Saudi Arabia’s second-largest listed bank by market capitalization, remained the leading heavyweight on the Tadawul All Share Index (TASI) for the eighth consecutive quarter in Q3-2016, data compiled by Argaam showed.

3) Kingdom Holding Co. has sold its fully-owned Four Seasons Toronto Hotel for CAD 225 million (SAR 645 million). The company realized a capital gain of SAR 48 million on this deal.

4) The arbitration panel for the Mobily and Zain dispute has decided to close arguments on the merits of the case and will notify the parties of the final award date in due course.

5) The National Petrochemicals Co. (Petrochem) has shut down its 65 percent owned Saudi Polymers Co. for planned maintenance for 60 days starting from Saturday, Oct. 1.