Saudi firms have started the countdown to announce their financial results for the final quarter of 2019.
Traders of the Saudi stock exchange are anticipating the results of 138 companies whose financial results haven’t been revealed yet. These firms represent 70 percent of the total listed companies.
So far, a total of 61 listed companies announced their results for Q4 2019. The results showed progress in the performance of 39 listed companies during 2019 compared to 2018. This progress is embodied through two types: companies that achieved remarkable growth in financial results for 2019 and companies that managed to reinforce their operating roles.
Amid this anticipation, Tadawul commenced the new month’s trading following sharp setbacks in global markets and oil prices last week. This coincides with the Dow Jones index sliding last Friday from 1,100 points to 357 points.
The performance of the Saudi stock exchange is expected to be more stable and balanced compared to most global financial markets. It managed to maintain a level of 7,500 points, in addition to the fact that the already announced results brought hope to investors.
In this context, the Saudi index closed last week’s trading with a decline of 4.7 percent i.e. 379 points. It closed at 7,628 points compared to last week’s 8,007 points. This was the greatest weekly loss since August.
The value of total trading last week witnessed a remarkable rise of around SAR19.9 billion (USD5.3 billion) compared to around SAR14.17 billion (USD3.77 billion) during the week before. This indicates a rise of 40.4 percent.