Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) The Saudi Stock Exchange (Tadawul) commenced the activation of cancelling all outstanding orders in the event of a corporate action resulting in a security price adjustment.
2) The market capitalization of Tadawul grew 5.16% week-on-week to SAR 8.283 trillion in the week ended May 21, 2020.
3) The Saudi Arabian Monetary Authority (SAMA) injected SAR 50 billion into the banking sector to boost liquidity and enhance lending capacity for the private sector.
4) National Commercial Bank (NCB) plans to issue SAR denominated additional Tier 1 sukuk through private placement.
5) Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) turned to a net profit after Zakat and tax of SAR 2.1 million for the first quarter of 2020.
6) Walaa Cooperative Insurance Co. received a confirmation from Arab National Bank (ANB) to provide insurance coverage on the auto leasing financing program.
7) Electrical Industries Co. (EIC) reopened its 2 factories, Saudi Power Transformers Co. and Cable Trays Factory, in Dammam Industrial City II at full capacity.
8) Brent crude on Tuesday gained 36 cents to reach $38.68 per barrel. WTI Crude also increased 20 cents to reach $35.64/bbl.
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