10 things to watch on Tadawul today

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

1) Banque Saudi Fransi (BSF) reported a net profit of SAR 2.6 billion for the first nine months of 2019, a drop of 8.3 percent year-on-year (YoY).

2) Saudi Electricity Company’s net profit after zakat and tax during the first nine months of 2019 declined 64 percent year-on-year (YoY) to SAR 1.9 billion, compared to SAR 5.5 billion during the same period in 2018.

3) City Cement Co.’s board of directors on Nov. 4 recommended 26 percent capital cut to SAR 1.4 billion from SAR 1.89 billion through share cancellation.

4) Saudi Paper Manufacturing Co.’s shareholders approved reducing capital by 62.45 percent to SAR 92 million to offset the accumulated losses through cancelling 15.3 million shares.

5) Eastern Province Cement Co. (EPCCO) reported a net profit after zakat and tax of SAR 114 million for the first nine months of 2019, an over twofold increase year-on-year (YoY).

6) Umm Al-Qura Cement Co.'s net profit after zakat and tax surged to SAR 52.7 million in the first nine months of 2019, compared to a net profit of SAR 6.4 million a year earlier.

7) Musharaka REIT is set to acquire a new real estate property in Riyadh at a total value of SAR 70 million, after been assessed by two accredited assessors.

8) National Metal Manufacturing and Casting Co. (Maadaniyah) reported net losses of SAR 51.37 million for the first nine months of 2019, versus net profit of SAR 2.24 million in year-earlier period.

9) Bawan Co. reported a net profit of SAR 21.3 million in the first nine months of 2019, an increase by 86 percent year-on-year (YoY), as compared to SAR 11.5 million during the same period in 2018.

10) Brent crude on Wednesday declined 39 cents to reach $62.57/bbl, while WTI crude also decreased 32 cents to stand at $56.91/bbl.