6 things to watch on Tadawul today

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

1) Global index provider MSCI Inc. added 30 Saudi Arabian securities, representing an aggregate weight of 1.42 percent, in the MSCI EM index as of the close yesterday.

2) Jazan Energy & Development Co. (JAZADCO) has extended the period to fulfill requirements of Bakri International Energy Co. acquisition deal from May 31, 2019 to Sept. 30, 2019.

3) AXA Cooperative Insurance Co. on Monday received approval from the Saudi Arabian Monetary Authority (SAMA) to raise capital by SAR 50 million to SAR 500 million.

4) The Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank and insurance market regulator, will allow Al-Etihad Cooperative Insurance Co. to issue and renew insurance policies starting Tuesday, May 28.

5) Saudi Investment Bank (SAIB) saw a negotiated deal on its stock yesterday, where about 18.75 million shares were privately traded at a negotiated price of SAR 13.50 per share against an official price of SAR 18 for the total value of SAR 253.12 million.

6) Brent crude on Wednesday declined 47 cents to reach $69.64/bbl, while WTI crude also decreased 61 cents to $58.53/bbl.