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Saudi bourse to launch single stock futures on July 4

Nature, Metropolis, City Creative Commons
The S&P Global Saudi Arabia Purchasing Managers' Index (PMI) for the whole economy rose to 57.0 in June from 55.7 in May and April, edging above the series average since 2008 of 56.8

The Saudi stock exchange Tadawul plans to launch single stock futures on July 4, which will enable local and international investors to hedge and manage portfolio risks more effectively.

Tadawul said in a statement on Sunday that the underlying stocks for single stock futures have been selected from the largest and most liquid publicly listed companies.

Saudi authorities have introduced a raft of reforms to attract overseas share buyers and issuers as part of efforts to lure foreign capital and diversify the oil-dependent economy.