7 things you need to know on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Tuesday.

1) Yamama Cement Co. reported a net profit of SAR 29.2 million for Q3 2017, a 48 percent year-on-year (YoY) decline due to lower sales and higher administrative expenses.

2) Jarir Marketing Co. announced the opening of Jarir Bookstore’s new showroom on Dhahran Street, Hufof, at a cost of SAR 60 million. The financial impact is expected to reflect on Q4 2017.

3) Qassim Cement Co.’s board of directors has recommended a 6 percent cash dividend at the rate of SAR 0.60 per share for Q3 2017.

4) Al Sorayai Trading and Industrial Group Co. expects the second phase of its calcium carbonate plant to start operations in the second half of November.

5) Saudi Marketing Company (Farm Superstores) has signed a SAR 130 million Islamic financing facility with Alinma Bank, the company said.

6) Saudi Arabia’s Capital Market Authority (CMA) has approved Muscat Capital’s request to offer, register and list units of the Al Masha’ar Real Estate Investment Traded Fund (REIT) on the Saudi Stock Exchange (Tadawul).

7) Oil prices held steady on Tuesday, following the sharp rise in the previous session on heightened geopolitical concerns. Brent crude was last slightly higher at $57.83/bbl while WTI crude slipped 0.1 percent to $51.8/bbl.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com