Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Saudi International Petrochemical Co. (Sipchem) said it plans to restart merger negotiations with Sahara Petrochemical Co.
2) Abdulmohsen Al Hokair Group for Tourism and Development Co. opened on Monday Park Inn Al Jubail Hotel and MENA Hotel Tabuk, bringing up its hotel facilities across the Kingdom to 37.
3) Red Sea International Co.’s board of directors recommended on Monday withholding cash dividend for fiscal year 2017.
4) Mouwasat Medical Services Co. reported a net profit of SAR 336.7 million for the fiscal year 2017, an increase of 31 percent year-on-year (YoY), driven by higher revenue from the Riyadh branch, expansions at sub-specialty clinics, and effective utilization of available assets.
5) Al Jouf Cement reported a net profit of SAR 41 million for the fiscal year 2017, a fall of 43 percent year-on-year (YoY), due to lower sales amid weak demand and fierce competition.
6) Oil prices were down this morning. Brent crude was last down 0.1 percent at $64.89/bbl while WTI crude fell 0.2 percent to $61.26/bbl.
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