The Group Securities: Weekly Report on QSE Performance,
11-15 June 2017
Last week, QSE performance remained remarkably steady, with the
Gulf political crisis having no impact on the latter. Though
foreign portfolios continued net selling, it was with limited
amounts worth QR285 million. Qatari portfolios offset this with
net buying worth QR 340 million. The performance was not
affected by the declining oil prices which slid below 45 dollars
per barrel. Likewise, the performance was not affected by the
decision of Qatar Central Bank to raise the interest rate by
0.25 per cent. In a nutshell, general index rose by 20 points to
the level of 9258 points. Sectoral indices increased, except for
banking and telecommunications. Though total trading declined by
34% to QR1.9 billion, total capitalization increased to QR 500
billion. Price-earnings ratio (P/E Ratio) amounted to 13.14
times as much the original price. The share price of 27
companies increased while 14 others went down. 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-- Qatar Insurance Company Board of Directors held its fourth
meeting in 2017 on Tuesday evening 13/6/2017 to discuss the
points on the agenda of the meeting.
The board revealed that over 70% of its business today
comes from the Group’s international franchise. The board was
informed about the procedures of adjusting the nominal value of
the company’s share from QAR 10 riyals per share to become QAR 1
riyal per share.
2-- Vodafone Qatar announces the results of the Ordinary General
Assembly Meetings held on Monday 12 June 2017.The shareholders
of the company approved, among others, the proposal of the Board
of Directors to not distribute dividend for the financial year
ended 31 March 2017.
3-- The Qatar Stock Exchange announces the completion of the
subscription process on the Doha Bank's unsubscribed capital
increase shares amounting to three million, three hundred
thousand and nine hundred and fifty (3,309,935) shares. The
subscription was carried out during the official trading hours
in the ordinary market since Tuesday 20/6/2017.
Economic Developments
1-- Qatar's central
bank said on Thursday it was raising its overnight deposit rate
by 25 basis points to 1.50 percent, after the U.S. Federal
Reserve raised rates by the same margin. However, the Qatari
central bank kept its overnight lending rate unchanged at 5
percent and its repo rate, used to lend money to banks, flat at
2.25 percent.
2-- Banks Consolidated Balance Sheet of May has not been
released yet, but that of April shows a rise in total assets /
liabilities by QR 25.6 billion to QR 1308.1 billion and a rise
of QR 40.5 billion in total domestic public debt, including
bonds, to reach QR 464.4 billion. The private sector credit rose
QR 0.1 billion to stand at QR 439.1 billion.
3-- Last week, oil prices fell by after US data revealed an
increase in its crude oil stockpile, which spurred fears about
the ability of OPEC members' agreement to cut the gut. Brent
Crude lost around 1.89 dollars or 3.86% to 46.84 dollars per
barrel. Open oil continued its decline, losing 1.40dollars per
barrel, and closed on Thursday at the level of QR 44.78 dollars
per barrel.
4-- Last week, oil prices fell by after US data revealed an
increase in its crude oil stockpile, which spurred fears about
the ability of OPEC members' agreement to cut the gut. Brent
Crude lost around 1.89 dollars or 3.86% to 46.84 dollars per
barrel. Open oil continued its decline, losing 1.40dollars per
barrel, and closed on Thursday at the level of QR 44.78 dollars
per barrel.
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