7 things to watch on Tadawul today

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

1) Saudi Steel Pipe Co.’s 35 percent owned affiliate has been awarded a SAR 60 million contract to supply 30 inches OCTG pipes to Saudi Aramco Company.

2) Riyad Bank reported an increase of 13 percent year-on-year (YoY) in its net profit to SAR 3.4 billion for the first nine months of 2018.

3) Shares of Saudi Arabian Fertilizers Co. (SAFCO) and Saudi Industrial Export Co. (SIECO) hit their highest level in 52 weeks on Oct 18 (Thursday).

4) Samba Financial Group (Samba) reported a net profit of SAR 4.1 billion in the first nine months of 2018, a rise of 8.2 percent year-on-year (YoY).

5) Moody's affirmed Saudi Arabia's A1 rating with a stable outlook and raised its GDP growth forecasts for the period (2018-2019) to 2.5 percent and 2.7 percent respectively.

6) King Salman has established a committee, led by Crown Prince Mohammed bin Salman that will be responsible for the overhaul of Saudi Arabia’s General Intelligence.

7) Oil prices were up on Sunday morning, with Brent crude 0.62 percent higher at $79.78 per barrel (bbl), while West Texas Intermediate (WTI) was up 0.68 percent at $69.12/bbl.