The Group Securities Weekly Report on QSE Performance, 6-7 September 2017
Continued decline in the general index and goods and service groups indices


September 10, 2017 

 

 

 

 



In a short week that was limited to just two days after the Eid holiday, the series of drop in the

market indices continued to their lowest level in years. Although the average daily trading was improved as result of net purchases by Qataris and Qatari portfolios which reached to about QR 221.1 million per day, yet, the prices of 25 companies declined, all indices dropped and the benchmark index lost 125 points to stand at 8675 points. The industrial sector index was the most declining, followed by the banks index then the services sector index. As a result, the total capitalization of the market declined and the P/E ratio fell. The Group Securities reviews QSE performance in the short trading week ending on September 07, 2017 with illustrative charts combined with corporate business news and a list of the affecting economic factors.

 

Corporate News:
1. FTSE announced the result of the Semi-Annual review for the Companies listed at QSE.. It announced adding to FTSE Qatar Index Gulf Warehousing Company (GWC) and deleting Qatari Investors Group, Aamal Co. and Qatar Navigation (Milaha).

 

2. Vodafone Qatar announced that its Board of Directors will be holding a meeting on Tuesday 19 September 2017 at 1:30 P.M. to discuss the invitation of the shareholders to the Extraordinary General Assembly meeting and other various business related items.

 
 
Economic Developments:


1 - Qatar Central Bank (QCB) issued on Wednesday, September 06, 2017 Treasury Bills (T-Bills) where the total amount of issuance is (QR 1 billion). The total amount is broken down as follows: QR 650 million over 3 months’ term and maturity date is December 05, 2017 with a yield rate of 2.25%.  QR  350 million for 6 months’ term and maturity date is March 06, 2018 with a yield rate of 2.49%. 

 

2 - The State of Qatar trade balance during the month of July this year increased by QR 11.9 billion, recording a rise of QR 5.2 billion or 78.1% above the figures in July 2016 and a decrease of QR 0.6 billion or 4.8% compared to the data in June 2017.


3. Banks consolidated balance sheet of August has not been released and July balance sheet showed that government and the public sector total deposits increased by QR18.8 billion to QR 1324.6 billion and the total debts, including bonds and T-Bills, rose by QR 15.1 billion to QR 457.7 billion. Total private sector loans increased by QR 2.4 billion to QR 450.9 billion.


4. OPEC price settled at $ 49.41 per barrel, compared with $ 49.49 a barrel in the previous week.


5. The Dow Jones index dropped 198 points to 21798 points. US Dollar exchange rate fell to $ 1.20 per euro and fell to $ 107.84 per dollar. Gold price rose $ 21 per ounce to $ 1351.