Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Saudi Co. for Hardware (SACO) capitalized on the Saudi government initiatives to minimize the COVID-19 outbreak impacts, receiving SAR 8 million support in Q2 2020, CEO Haytham Al-Hamidi, told Argaam.
2) Rabigh Refining and Petrochemical Company (Petro Rabigh) incurred net losses of SAR 3.232 billion million for the first half of 2020.
3) Bank AlJazira reported net profit of SAR 347.4 million for the first half of 2020, declining 29% year-on-year.
4) Middle East Healthcare Co. (MEAHCO), which owns and operates the Saudi German Hospital chain, reported a net profit after Zakat and tax of SAR 37.5 million in the first half of 2020.
5) Raydan Food Co. said that the government’s precautionary measures to contain coronavirus outbreak had an impact on its sales.
6) Brent crude on Tuesday gained 0.16% to reach $43.48 per barrel, while WTI Crude declined 0.10% to reach $41.56/bbl.
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