6 things to watch on Tadawul today

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

1) National Commercial Bank (NCB) signed a framework agreement with Samba Financial Group to begin due diligence process, and negotiate definitive and binding terms of a potential merger.

2) Methanol Chemicals Co.’s (Chemanol) shareholders approved, on June 24, appointing PricewaterhouseCoopers (PwC) as new external auditor to audit the company’s financial statements of Q2, Q3, Q4, FY2020 and Q1 2021.

3) Al-Etihad Cooperative Insurance Co.’s shareholders approved, on June 24, the board's recommendation on withholding dividend for fiscal year ending Dec. 31, 2019.

4) Al Moammar Information Systems Co. (MIS) renewed, on June 24, a SAR 204.11 million Shariah compliant bank facility agreement with the Saudi British Bank (SABB).

5) MEFIC REIT Fund terminated lease agreements with the operators of Makkah-based Drnef Ajyad, Drnef Kuddai and Riyadh’s hospitality building to protect unit holders’ rights.

6) Brent crude on Friday declined 3 cents to reach $41.02 per barrel. WTI Crude also decreased 23 cents to reach $38.49/bbl.