7 things to watch on Tadawul today

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

1) Saudi Chemical Co.’s board of directors recommended a 12.5 percent cash dividend for H1 2018, at SAR 1.25 per share, amounting to SAR 79.05 million. It also recommended to transfer the explosives business to its wholly-owned subsidiary Saudi Chemical Company Limited.

2) The Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank, said that the number of finance firms operating in Saudi Arabia reached 37 firms by the end of 2017, compared to 34 in 2016.

3) Rafal Real Estate Development Company sold its stake in Burj Rafal Hotel Kempinski Riyadh to Riyad REIT for SAR 749 million. The developer also sold its shareholding in Marvela residential compound in Riyadh to Jadwa REIT Saudi Fund for SAR 606 million.

4) Many family-owned Saudi businesses are planning initial public offerings (IPOs) over 2019 and 2020, according to Nayef Al-Athel, head of listing, Tadawul.

5) Middle-market businesses in Saudi Arabia are "significantly more optimistic" about revenue growth and business opportunities this year than last year, according to EY Growth Barometer.

6) Crude oil prices will continue to be volatile but the direction is likely to be tilted slightly upwards as OPEC will continue to manage prices, said Al Rajhi Capital.

7) Oil prices rose as US drilling for new production stalled. Brent crude was up 43 cents at $77.26/bbl, while WTI crude rose 41 cents to $68.16/bbl.