Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) The first day of the ongoing Future Investment Initiative (FII) 2018 in Riyadh saw the signing of more than 25 memorandums of understanding (MoUs) and megadeals with a total value of $50 billion.
2) National Commercial Bank (NCB) posted a net profit of SAR 8 billion in the first nine months of 2018, up 10.7 percent year-on-year (YoY).
3) Saudi Investment Bank’s (SAIB) net profit increased 2.36 percent YoY in the first nine months of 2018 to SAR 1.08 billion on a 3.8 percent rise in gross operating income.
4) Rabigh Refining & Petrochemical Co. (Petro Rabigh) saw a negotiated deal on its stock, where 100,000 shares were privately traded at a negotiated price of SAR 19.04 per share against an official price of SAR 19.26.
5) Shares of Saudi Industrial Export Co. (SIECO) hit their highest level in 52 weeks on Tuesday, data compiled by Argaam showed.
6) Jabal Omar Development Co. reported a net profit of SAR 192.3 million for the first nine months of 2018, compared to a net loss of SAR 600.1 million in the same period last year.
7) Dallah Healthcare Co.’s net profit after zakat and tax dropped 52.8 percent YoY in the first nine months of 2018 to SAR 109.3 million.
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