10 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) The Saudi Stock Exchange (Tadawul) will extend the closing auction session to 20 minutes (instead of 10 minutes) on April 30.

2) Saudi Aramco will acquire Shell Saudi Arabia Refining Limited’s 50 percent stake in the SASREF joint venture in Jubail Industrial City for $631 million.

3) Saudi Basic Industries Corp. (SABIC) has cut the Asian Contract Price (ACP) for monoethylene glycol (MEG) for May by $20, compared to the month earlier, at $775 per ton.

4) Etihad Etisalat Co. (Mobily) reported a net profit after zakat and tax of SAR 67.3 million for the first quarter of 2019.

5) Bank Aljazira reported a net profit of SAR 263.3 million in Q1 2019, a rise of 7.34 percent year-on-year.

6) Jarir Marketing Co.’s (JMC) net profit after zakat and tax jumped 6.7 percent year-on-year (YoY) to SAR 233.7 million for Q1 2019.

7) Alinma Bank reported a net profit of SAR 709 million for the first quarter of 2019, a 21.8 percent year-on-year increase.

8) Wafrah for Industry & Development Co. (Wafrah) expects to increase production capacity, reduce costs of its vegetables and pasta factories, and hike internal and external sales.

9) Dar Al Arkan Real Estate Development Company, will redeem its $400 million (SAR 1.5 billion) 2019 sukuk by using internal cash reserves.

10) Oil prices rallied by more than 2 percent on Monday to levels not seen since November 2018 on reports that US is set to announce all imports of Iranian oil must end.