Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Saudi Basic Industries Corp. (SABIC) reported a net loss after Zakat and tax of SAR 2.18 billion for the first nine months of 2020, compared to a net profit of SAR 6.09 billion in the year-earlier period.
2) Al Rajhi Bank reported a net profit of SAR 7.4 billion for the first nine months of 2020, a decrease of 5% year-on-year (YoY).
3) Dr. Sulaiman Al Habib Medical Group (HMG) reported a net profit after Zakat and tax of SAR 737.7 million for the first nine months of 2020, a 23% YoY increase.
4) Arriyadh Development Co. (ARDCO) reported a net profit after Zakat and tax of SAR 144.8 million for the first nine months of 2020, up 8%, compared to a profit of SAR 133.8 million in the same period last year.
5) Zamil Industrial Investment Co. reported a net loss after Zakat and tax of SAR 125.6 million for the first nine months of 2020, a marginal increase of 0.6% YoY.
6) Bawan Co.’s board of directors recommended repurchasing a maximum of 3 million of its shares, or no more than 5% of issued capital, to be retained as treasury shares.
7) Arabian Centres Co. (ACC) successfully ended negotiations with Sheikh Muhammad Sairafy, Jeddah Park’s owner and landlord, with regards to signing a new management, operation and maintenance agreement to replace the first 10 years of the initial lease contract for the property.
8) Fitaihi Holding Group signed a sale contract with the board member Mohammed Ahmed Hassan Fitaihi to sell the group's 80% stake in its subsidiary, Luxury Goods Trading Co. Ltd.
9) Zahrat Al Waha for Trading Co. commenced operation of two plastic preform production lines purchased from Husky Injection Molding Systems.
10) Crude oil prices fell on Monday morning. Brent crude shed 1.7% to $41.08/bbl, while WTI crude declined 1.7% to $39.16/bbl.