9 things to consider as Tadawul starts trading

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

1) Sahara Petrochemical Co. reported a net profit of SAR 140.2 million in Q1 2018, a rise of 46 percent year-on-year (YoY), driven by higher profit from Al Waha Petrochemical Co. amid improved production and sales volumes and selling prices.

2) Saudi Industrial Export Co. (SIECO) aims to use its planned capital increase to earn new export contracts and access fresh markets, chief executive officer Hazem Al-Dossari told Argaam.

3) United Wire Factories Co. (Aslak) reported a net profit of SAR 7.73 million for Q1 2018, a marginal rise of 0.26 percent YoY, due to higher sales.

4) Saudi Paper Manufacturing Co. posted a net profit of SAR 4.7 million for the first quarter of 2018 versus a net loss of SAR 6.3 million a year earlier -- performance attributed to higher sales and profit margins.

5) Ahli United Bank (AUB) Group, which is listed in Kuwait and Bahrain, has acquired 59.69 million shares, or a 7.28 percent stake, of Bank AlJazira for a total value of almost $173 million.

6) L’Azurde for Jewelry Co.’s general assembly approved on Sunday withholding cash dividend for the fiscal year 2017.

7) Abdullah Al Othaim Markets Co. has opened a new branch in Riyadh, bringing the total number of branches in the Kingdom to 198.

8) Saudi Pharmaceutical Industries & Medical Appliances Corp. (SPIMACO) has signed a memorandum of understanding (MoU) with Saudi Technology Development and Investment Co. (TAQNIA) to invest and acquire specialized biotech drugs that are in the final stages of registration.

9) Crude oil prices edged higher on Tuesday, with Brent crude last up 0.2 percent at $74.87/bbl while WTI crude rose 0.4 percent to $68.91/bbl.

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