7 things to watch when Tadawul opens June 19

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

1) Saudi Cable Co. said it will delay publishing its financial results for Q4 2016 and fiscal year 2016 by ten weeks until completing some external audit work. Results for Q1-2017 are anticipated to be ready in about 12 weeks.

2) Arab National Bank’s (ANB) board of directors recommended 5.5 percent cash dividend at SAR 0.55 per share for H1-2017.

3) Saudi-listed Fawaz Abdulaziz Alhokair Co. (Alhokair) is trying to boost its low-revenue sales and generate more liquidity to meet its obligations towards banks and commercial partners, the fashion retailer said in a board report. With less financing available from local banks and volatile market conditions, the Saudi retail sector is currently facing pressures, the company added.

4) Listed banks in Saudi Arabia are looking at the prospect of their net profits flattening in Q2, compared to the previous quarter, as the Kingdom continues to grapple with slower economic expansion and credit growth.

5) The Saudi Stock Exchange (Tadawul) is expected to account for 2.48 percent of the MSCI Emerging Markets Index, implying inflows of $40.8 billion from the investors that use this benchmark, NCB Capital (NCBC) said in a recent report. The MSCI is set to announce its annual market classification review list on June 20.

6) Saudi Arabia on Monday said it disrupted an attack on its Marjan oilfield and captured one of three boats that were moving toward the offshore field.

7) Crude oil prices declined on Monday amid a rise in US rig count. Brent crude was last down 0.3 percent at $47.27/bbl and WTI crude fell 0.3 percent to $44.63/bbl.