7 things to watch on Tadawul today

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

1) OPEC and its allies including Russia (OPEC+) agreed in principle on a 2-month output cut of 10 million barrels per day (bpd) as of May 1.

2) Alkhaleej Training and Education Co.’s shareholders are set to vote, on May 5, on the board’s recommendation to distribute a 2.5% cash dividend, or SAR 0.25 per share, for the fiscal year 2019.

3) National Company for Learning and Education’s (NCLE) net profit after Zakat and tax rose by 6% year-on-year (YoY) to SAR 25.1 million for the first half ended Feb. 29, 2020.

4) The net assets value (NAV) of SEDCO Capital REIT Fund reached SAR 566.13 million as of March 31, 2020.

5) The Company for Cooperative Insurance’s (Tawuniya) shareholders will vote, on May 3, on audited financial statements and audit reports for FY2019. 

6) Saudi Advanced Industries Co. (SAIC) extended a memorandum of understanding (MoU) with Saudi Arabian Military Industries Company (SAMI) to sell a 10% stake in Alsalam Aerospace until July 31, 2020.

7) Brent crude on Friday declined $1.36 to reach $31.48 per barrel. WTI Crude also decreased $2.33 to reach $22.76/bbl.