Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) The Saudi Stock Exchange (Tadawul) has won MSCI emerging market status, the global index compiler said in its annual review for 2018.
2) The inclusion of Tadawul to MSCI's Emerging Market index will enhance the diversity of the investors base as well as the liquidity of the Kingdom's capital market, said Mohammed El Kuwaiz, chairman, Capital Market Authority.
3) Saudi Arabia’s Minister of State for Energy Affairs Prince Abdulaziz Bin Salman said the OPEC is committed to ensuring the availability of adequate crude oil supply in the global market.
4) OPEC Secretary General Mohammad Sanusi Barkindo said the group’s output deal with other major non-member producers has “exceeded most optimistic of expectations.”
5) Bupa Arabia for Cooperative Insurance (Bupa Arabia) purchased 45,900 of its own shares on June 12 for its employees’ incentives program at an average price of SAR 89.98 per share, totaling SAR 4.13 million.
6) Oil prices fell on Thursday morning as Iran signaled it could be won over to a small rise in OPEC crude output. Brent crude was down 31 cents at $74.43/bbl, while WTI crude declined 13 cents to $65.58/bbl.
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