Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Petrochemicals giant Saudi Basic Industries Corp. (SABIC) reported a net profit after zakat and tax of SAR 3.41 billion for the first quarter of 2019, a 38.1 percent year-on-year (YoY) decrease on lower average selling prices.
2) The Securities Depository Center Company (Edaa) deposited on Sunday the government’s debt re-issuance increase to securities holders' accounts, it said in a bourse statement.
3) The listing and trading of SAR 9.247 billion in local-currency government debt instruments began on the Saudi Stock Exchange (Tadawul) on Apr 28, 2019.
4) Al Hammadi Company for Development and Investment reported a net profit after zakat and tax of SAR 24.17 million for the first quarter of 2019, down 21.7 percent year-on-year (YoT), due to higher operating expenses related to Nozha hospital, and increased financing costs.
5) Arab National Bank (ANB) reported a net profit of SAR 920.1 million for the first quarter of 2019, a 12.7 percent year-on-year (YoY) increase on higher total operating income driven by higher net special commission income.
6) Saudi Investment Bank’s (SAIB) net profit edged down 0.4 percent year-on-year (YoY) to SAR 359.9 million for Q1 2019, due to an increase in total operating costs, general and administrative expenses.
7) Bank Aljazira said it will pay cash dividend for the fiscal year 2018 on May 5, 2019.
8) Samba Financial Group (SAMBA) reported a net profit of SAR 1.2 billion for the first quarter of 2019, down 7.43 percent year-on-year (YoY), due to higher operating expenses and increased cost of credit.
9) Wataniya Insurance Co.’s shareholders have elected board members for the three-year term that started on April 26, 2019.
10) Brent crude on Monday dropped marginally to reach $71.79/bbl, while WTI crude also declined to $62.94/bbl.
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