7 things to watch on Tadawul today

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

1) National Building and Marketing Co. reported a net profit after zakat and tax of SAR 19.77 million for the first 9 months of 2019, 1.8% year-on-year (YoY) decrease driven by higher financing costs and increased general expenses.

2) The board of directors of Middle East Specialized Cables Co. (MESC) appointed on Dec. 3 Fawaz bin Mubarak Al Muqbil as new CEO, with immediate effect.

3) Saudi Paper Manufacturing Co. (SPM) filed on Dec. 2 a complaint with the Capital Market Authority (CMA) against a former board chairman and a shareholder that requested dismissal of the existing board, claiming compensation for suspected violations.

4) Abdullah Saad Mohammed Abo Moati for Bookstores Co. (Abo Moati) announced on Tuesday opening a new showroom in Riyadh at a total investment of SAR 1.15 million.

5) Al Moammar Information System Co. (MIS) announced it has been awarded a contract amounting to more than 5% of the total company’s revenue for the fiscal year 2018.

6) Taiba For Investment Co. (Taiba) inked a deal with Marriott International to manage and operate Sheraton Taiba Hotel Madinah.

7) Brent crude on Wednesday gained 46 cents to reach $61.28 per barrel whereas WTI Crude also increased 38 cents to reach $56.48/bbl.