7 things to watch on Tadawul today

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

1) Saudia Dairy and Foodstuff Co.’s (SADAFCO) will pay on July 1, 2019 the 20 percent cash dividend for the second half of the fiscal year ending on March 31.

2) Saudi Kayan Petrochemical Co. (Saudi Kayan) plans to adopt new debt reducing measures aiming to raise financial competency by repaying and restructuring its remaining secondary debts.

3) Allied Cooperative Insurance Group (ACIG) shareholders will, on July 9, 2019, form a new audit committee for the term ending on May 17, 2022.

4) Jazan Energy and Development Co.'s (JAZADCO) signed on June 12 a memorandum of understanding (MoU) with “Jabal Ohod Holding” to study the acquisition of the holding firm.

5) The International Energy Agency (IEA) has cut its estimate for global oil demand growth for the second consecutive month to 1.2 million barrels per day (bpd) in 2019, before it rebounds to around 1.4 million bpd in 2020, citing intensifying trade concerns amid fears of a global recession.

6) Makkah Construction and Development Co. (MCDC) terminated on June 13, 2019 its agreement with Millennium & Copthorne Middle East Holdings Limited to operate and manage the firm’s five-star hotel towers in Makkah.

7) Brent crude on Friday gained 70 cents to reach $62.01/bbl, while WTI crude increased 23 cents to reach $52.51/bbl.