10 things you need to know on Tadawul today

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

1) Saudi Arabian Fertilizers Co. (SAFCO) reported a net profit of SAR 423.4 million in the first quarter of 2017, a 52 percent year-on-year (YoY) increase.

2) Abdullah Al Othaim Markets Co. said its consolidated net income dropped by SAR 1.96 million for fiscal year 2016 on the implementation of the International Financial Reporting Standards (IFRS).

3) Dallah Healthcare said it made a net profit of SAR 85 million for Q1-2017, a 46 percent increase on year.

4) City Cement posted a net profit of SAR 37.87 million for Q1-2017, marking a 48 percent decline on the year-ago period.

5) Al Alamiya Cooperative insurance Co. has inked an agreement with Riyad Bank (a related party) to provide insurance coverage for real estate mortgage program for a total gross written premium of SAR 23.08 million for one year from May 1, 2017.

6) Saudi Advanced industries Co. reported a net profit of SAR 3.4 million in the first quarter of 2017, a 2.5 percent year-on-year (YoY) decline.

7) Sadara Basic Services Co.’s fourth polyethylene (PE) unit started commercial operations on Thursday.

8) Jadwa Investment Real Estate Investment Traded Fund (Jadwa REIT Al Haramain) will start trading on the Saudi Stock Exchange (Tadawul) today, with the code 4332.

9) Red Sea International Co. has restructured nomination and remuneration committee at its board of directors to complete the current three-year term started on April 25, 2015.

10) Oil prices settled higher on Friday on hopes that OPEC might agree to extend output cuts into the second half of the year. Global benchmark Brent crude was up 0.4 percent at $52.05 per barrel (bbl), while West Texas Intermediate rose 0.7 percent to $49.33/bbl.