10 things to consider as Tadawul starts trading

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

1) Al Rajhi Bank reported a net profit of SAR 2.5 billion for Q4 2017, an increase of nearly 20 percent YoY that was attributed to higher total operating income.

2) Fawaz Abdulaziz Alhokair Co. posted a net profit of SAR 48.7 million for Q4 2017, down 1 percent year-on-year (YoY). The firm said the earnings held stable due to good control of cost of sales.

3) The National Company for Glass’ (Zoujaj) reported a net loss of SAR 2.1 million for Q4 2017, an improvement of 73 percent (YoY).

4) Bank Aljazira’s board of directors has recommended a 3.2 percent cash dividend for fiscal year 2017 at SAR 0.32 per share following the completion of announced capital hike.

5) The board of directors of Al Tayyar Travel Group said it will pay cash dividend for the second half of 2017 on February 25, 2018.

6) Jeddah Economic Company (JEC), 33.35 percent-owned associate of Kingdom Holding, has awarded a SAR 180 million power transmission contract to Saudi Electricity.

7) Northern Region Cement Co. has fully acquired Dubai’s Um Qasr Northern Cement Co. Ltd. for SAR 6.06 million.

8) Leejam Sports Company is said to have applied to the Saudi market regulator to carry out an initial public offering (IPO) on Tadawul.

9) Saudi Arabian Monetary Authority (SAMA) has denied news that it bought shares in Ripple (XRP), the authority said in a statement seen by Argaam.

10) Crude oil prices closed last week sharply lower amid rising US rig count. Brent crude fell 3.1 percent to $62.79/bbl while WTI crude was down 3.2 percent at $59.2/bbl.

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