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The Group Securities: Weekly Report on QSE Performance,
19-23 Mar 2017
QSE General index managed to
withstand and gain 84 points, or 0.81% to the level of 10445
points. Other key indices also increased, including five
sectoral indices; namely telecommunications, banking, and real
estates. This rise came to happen despite the falling oil prices
which continued to dip down to 48.28 dollar per barrel.
Meanwhile, this rise coincided with the AGMs held by Ooreedo,
Qatar General Insurance, and Al Meera, which approved the
proposed distribution of dividends. Doha Bank invited its
shareholders to participate in the rise of its share capital
through rights issue. Cinema share was the biggest gainer,
followed by Qatar commercial Bank, Ahli, Al Rayan; while the
share of Qatar General Insurance was the biggest loser. Daily
trading volume dropped to QR362.1 million. The most actively
traded shares were those of QIIB and Al Rayan which both held
their AGMs at the beginning of April. Qatari portfolios sold net
worth QR 414.9 million; while foreign portfolios bough net worth
QR 501.3 million. Qatari individual investors sold net worth QR
89.2 million. Total capitalization increased by 3.4 billion to
stand at QR 559.6 billion. Price earnings ratio increased to the
level of 14.66 compared to 14.64 double the original price in
the last week. The Group reviews QSE performance in this week
with illustrative charts combined with corporate business news,
and a list of the affecting economic factors.
Corporate News
1-- Net profit of Aamal in 2016 declined 23% to about QR 462.3
million compared to QR 601 million in the corresponding period
in the previous year. Earnings per share stood at QR 0.73
compared to QR 0.95 in the corresponding period in 2015. The
Board of Directors recommended distributing a cash dividend of
QR 0.60 per share. Aamal gross profit from its operations in
2016 rose by 6.4% to QR 683.4 million and the company achieved a
profit worth QR 16.5 million riyals as other income and QR 60.2
million stake of profits from companies in which it invests. In
contrast, the total expenses of all kinds, including financing
cost, marketing, depreciation and general and administrative
expenses increased by 6.9% to QR 200.8 million. As a result, net
profit attributable to shareholders decreased by 13.1% to QR
462.3 million.
2-- Ezdan Holding Group has mandated HSBC and Mashreqbank as
Joint Global Coordinators, and Dubai Islamic Bank, Emirates NBD
Capital, HSBC, Mashreqbank, Natixis and Standard Chartered Bank
as Joint Lead Managers and Bookrunners to arrange a series of
fixed income investor meetings in Asia, the UAE and the UK
commencing on 23rd March 2017. A benchmark USD Regulation S
Senior Unsecured Sukuk offering under Ezdan Sukuk Company
Limited’s USD 2 billion Trust Certificate Issuance Programme may
follow subject to market conditions. FCA/ICMA stabilization
applies.
3-- Doha Bank's board invited shareholders to subscribe in its
capital increase shares through a rights issue. Doha Bank
recommended raising the current paid-up capital by 20%. Shares
will be offered at a price of QAR 25. The subscription period
for shareholders and holders of subscription rights will start
on 25 April and end on 9 May.
4-- Mazaya Qatar Real Estate Development Company announced
opening nominations for its Board of Directors membership for
the next three years 2017, 2018 and 2019. Nominations will open
on Monday, March 20, 2017 morning until 02:00 PM on Thursday,
March 30, 2017.
The Board of Directors also invited for
the company’s AGM and EGM to be held on Wednesday, April
12, 2017 at 5:00 PM at Doha Sheraton Hotel, Salwa Hall 2. In the
event of lack of quorum, a second meeting will be held on Monday
17 April 2017 at the same time and venue.
5-- QNB announces its intent to disclose its first quarter
Financial Statements results for the year 2017 on Tuesday 11
April, 2017. Doha Bank also said it would do the same on 19
April 2017.
Economic Developments
1-- -- Banks consolidated balance sheet for February has been
released; it shows a rise in total assets by about QR 2.5
billion to stand at QR 1264.4 billion.
The total domestic public debt, including bonds,
increased by about QR 18.1 billion to QR 436.9 billion, while
the total domestic private sector deposits fell by QR 2.1
billion to the level of QR 438.5 billion.
2-- Last week, Opec oil prices lost around 1.35 dollars and
closed at $ 48.35 per barrel on Thursday.
3-- Last week, Dow Jones index lost 318 points to reach the
level of 20597 points. US Dollar exchange rate decreased to the
level of 111.34 yen, and $ 1.08 per Euro. Gold price increased
by 14 dollars to the level of $ 1243.3 per ounce.
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