9 things to watch on Tadawul today

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

1) Makkah Construction and Development Co. reported net profit after Zakat and tax of SAR 41 million, a decline of 15% year-on-year (YoY), for the three-month period ended March 24, 2020.

2) Emaar The Economic City (Emaar EC) incurred net losses after Zakat and tax of SAR 282 million for Q1 2020.

3) Al-Omran Industries & Trading Co. submitted a request to move to the main stock market, Tadawul All Share Index (TASI), through the automated system set by Tadawul for this purpose.

4) Amlak International for Real Estate Finance, a Saudi-based non-bank real estate finance company, reported a net profit of SAR 29.5 million in Q1 2020.

5) Basic Chemical Industries Co. (BCI) reported a net profit of SAR 10.4 million for Q1 2020, rising 70% YoY.

6) Saudi Industrial Development Co.’s (SIDC) shareholders approved, on June 14, the recommendation of the board of directors to transfer a surplus of SAR 8.1 million from the statutory reserves to offset accumulated losses.

7) Al Gassim Investment Holding Co. (GACO) was allowed by virtue of a letter from the Ministry of Environment, Water, and Agriculture to own a 74.04 million square meter-land plot out of the total area granted thereto in Shari, Qassim.

8) Wafrah for Industry & Development Co.’s shareholders rejected, on June 14, discharging board members from liabilities for the fiscal year 2019.

9) Brent crude on Tuesday declined 20 cents to reach $39.52 per barrel. WTI Crude also decreased 22 cents to reach $36.90/bbl.