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.
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