10 things to consider as Tadawul starts trading

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

1) King Salman has approved a number of decisions taken by the Saudi Health Council (CHS), including the establishment of a public-private partnership program in the health sector.

2) The inclusion of Saudi Stock Exchange (Tadawul) on the MSCI Emerging Markets Index could lead to inflows of approximately $4 billion, according to Tariq Bin Hendi, acting chief investment officer at Emirates NBD.

Separately, MSCI said Tadawul will account for 2.3 percent weight of the MSCI’s Emerging Market Index, if included as expected by late 2018.

3) Abdullah A. M. Al-Khodari Sons Co.’s plan to issue new shares for suppliers will not settle all of its outstanding debts, according to CEO Fawwaz Abdullah Al-Khodari.

Separately, Al Khodari on Monday signed an agreement with Abdullah Fouad Holding Company to conduct an auction of its surplus equipment from Feb. 27 until March 1.

4) MetLife AIG ANB Cooperative Insurance Company's board of directors recommended a 48.57 percent capital reduction to SAR 180 million from SAR 350 million, through the cancellation of 17 million shares.

5) National Commercial Bank (NCB) has received approval from Saudi Arabia’s Capital Market Authority (CMA) to raise its capital from SAR 20 billion to SAR 30 billion.

6) Saudi Printing & Packaging Co.’s (SPPC) wholly owned subsidiary, Al Madina Al Munawara Printing and Publishing Co., has been awarded a SAR 45.6 million contract by the ministry of education through competition.

7) City Cement Co. reported a net profit of SAR 93.3 million for fiscal year 2017, a 56.9 percent year-on-year (YoY) decline due to lower sales, higher cost of sales, and increased general and administrative expenses.

8) Arabian Cement Co. reported a net profit of SAR 262.7 million for FY17, a 46.3 percent YoY drop, mainly due to lower gross profit driven by a decrease in sales volumes and prices and lower net other income.

9) Allianz Saudi Fransi Cooperative Insurance Co.'s Q4 2017 net profit before zakat more than doubled YoY to SAR 10.3 million on a rise in earned premiums and investment yields.

10) Crude oil prices were mixed on Tuesday. Brent crude last down 0.4 percent at $65.44/bbl while WTI crude rose 1 percent to $62.3/bbl.

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