8 things you need to know on Tadawul today

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

1) Saudi Cable Co. (SCC) swung to net loss of SAR 198.8 million in fiscal year 2016, against a profit of SAR 1.7 million the previous year. The firm posted a net loss of SAR 145.1 million for Q4 2016, compared to a profit of SAR 11.6 million in the fourth quarter of 2015.

2) Saudi Automotive Services Co (SASCO) said its new station on Sail Road (Taif/Makkah) has started operations. The investment is about SAR 5.2 million. The facility is expected to contribute to operating revenues, with financial impact expected in Q4 2017.

3) Today is the record date of Advanced Petrochemical Co.’s (Advanced) 2.5 percent cash dividend for H1 2017

4) Qassim Investment Holding Co. (QACO) is expected to approve tomorrow the payment of 2.5 percent in cash dividend for Q1 2017.

5) Alawwal Bank said Jan Koopman has resigned from his position as a non-executive board member, due to personal reasons. The bank’s board has appointed Martin Powell as a non-executive board member, effective July 2.

6) Al Tayar Travel Group has signed a memorandum of understanding with Alistithmar for Financial Securities and Brokerage Co. to set up a real estate investment trust (REIT).

7) Saudi Arabia is expected to see a relatively smooth political succession despite the unprecedented political change, Bank of America Merrill Lynch said in its GEM’s macro monthly report.

8) Oil prices extended gains as markets reopened on Monday. Brent crude was last up 0.1 percent at $48.82/bbl and WTI crude rose 0.3 percent to $46.17/bbl.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com