10 things to watch on Tadawul today

08/08/2019 Argaam

 

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

 

1) Saudi Investment Bank (SAIB) reported net losses of SAR 3.3 million in H1 2019, versus net profit of SAR 682.8 million in year-earlier period, driven by higher credit provisions.

 

2) Gulf General Cooperative Insurance Co. reported SAR 37.68 million in accumulated losses, accounting for 18.84 percent of its capital as of June 30, 2019.

 

3) Saudi Chemical Co. reported a net profit after zakat and tax of SAR 70.2 million for the first half of 2019, down 16.6 percent year-on-year (YoY) due to higher costs related to the commencement of commercial operations for the two production lines of its subsidiary, Aja Pharma.

 

4) Nama Chemicals Co. reported a net loss after zakat and tax of SAR 3.24 million for the first half of 2019 as compared to a net profit of SAR 51.6 million.

 

5) Saudi Airlines Catering Co.’s board of directors on Tuesday recommended a 13.5 percent cash dividend for Q2 2019, at SAR 1.35 per share, totaling SAR 110.7 million.

 

6) Middle East Healthcare Co. (Saudi German Hospital) reported net profit after zakat and tax of 26.87 million, plunging 77.8 percent year-on-year (YoY) for H1 2019.

 

7) Saudi Marketing Co. (Farm Superstores) reported net profit after zakat and tax of 1.2 million, plummeting 51.26 percent year-on-year (YoY) for H1 2019, driven by the implementation of IFRS 16.

 

8) Allied Cooperative Insurance Group's (ACIG) net profit before zakat rose 6.1 percent year-on-year (YoY) to SAR 5.6 million in the first half of 2019, compared to SAR 5.3 million in the previous year.

 

9) Emaar The Economic City (Emaar EC) widened net losses by 119 percent year-on-year (YoY) to SAR 101 million for H1 2019, driven by impairment losses and higher financing costs.

 

10) Brent crude on Thursday gained $1.62 to reach $57.85/bbl, while WTI crude also increased $1.53 to reach $52.62/bbl.

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