Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) Saudi market optimism could pick up closer to the TASI's inclusion in emerging market indices, Al Rajhi Capital said in a report, noting that Q3 earnings could also provide a boost.
2) United Electronics Co.’s (eXtra) extraordinary general assembly approved a 19.05 percent capital hike to SAR 500 million from SAR 420 million through the issue of one bonus share for every seven shares held.
3) Taleem REIT Fund will pay a 1.375 percent cash dividend, at SAR 0.1375 per unit, amounting to SAR 3.9 million to unitholders for the period from Jul. 1, 2018 to Sept. 19, 2018, fund manager Saudi Fransi Capital said.
4) Rising oil production, higher public spending, steady progress of economic and social reforms and recovering oil prices are expected to push Saudi Arabia’s economic growth to 2.1 percent this year, according to a joint report by ICAEW and Oxford Economics.
5) Saudi Public Transport Co. (SAPTCO) said its 50 percent-owned subsidiary, Saudi Emirates Integrated Transport Company, signed a SAR 86.2 million worth of contract with a school transport services provider.
6) The cost of insuring exposure to Saudi Arabian sovereign debt has declined to the lowest level since March, according to figures compiled for Argaam by Thomson Reuters.
7) Saudi Arabia’s Alinma Investments increased its stake in Egypt’s Ajwa Group for Food Industries to 5.49 percent to 4.55 percent.
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