The Group Securities Weekly Report on QSE Performance, 10 – 14 September 2017

Continued decline in the stock market indices and goods and services groups

September 17, 2017 

Qatar Stock Exchange performance during the reviewed week did not differ from its performance in the previous weeks. The single positive situation was the return of activity to the total trading volume which benefited from reducing the bid unit to one Dirham. The daily average rose by 13.4% to QR 250.7 million. Although oil prices improved above $ 50 a barrel, traders ignored this, especially the non-Qatari individual dealers who were net sellers against all other categories with the value of QR 112.8 million. The general index fell to 8409 points, the total capitalization dropped to QR 458.9 billion and P/E Ratio fell to 12.60. The Group reviews QSE performance in the week ending on 14^th September 2017 with illustrative charts combined with corporate business news and a list of the affecting economic factors.

Corporate News:
1. Ooredoo announced that it had reviewed Fitch's long-term credit rating from "A +" to "A" with a negative outlook.

2. Minejesa Capital BV - in which Nebras Energy owns 35.5% shares, managed on August 10, 2017 to complete a successful financial closure of US $ 2.75 billion for a multi-source refinancing project. Nebras Power is an international energy company established in 2014 and headquartered in Doha, Qatar. The company develops and manages a portfolio of strategic investments in the energy and water sectors around the world, outside the State of Qatar. It is a partnership between two Qatari government bodies: Qatar Electricity and Water Company (60%) and Qatar Holding (40%).

Economic developments:
1. Al Meera Consumer Goods Company, Qatar First Bank and Mazaya Qatar shares will join QE Index while Aamal and Qatar Insurance will be removed from the index.  Qatar Islamic Insurance share will join QE Al Rayan Islamic Index. Ahli Bank share will be removed from QE All Share Index and QE Banks and from Financial Services Index.

2. The trade balance of the State of Qatar during July this year showed a surplus of 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% versus the situation in June 2017.

3. Banks consolidated balance sheet of August has not been released. July balance sheet showed that total assets increased QR 18.8 billion to QR 1324.6 billion and the total government and the public sector loans, including T-Bills, increased QR 15.1 billion to stand at QR 457.7 billion. Total private sector debts increased QR 2.4 billion to QR 450.9 billion.

4. OPEC oil prices rose by $ 4.22 to $ 53.63 per barrel compared to $ 49.41 a barrel in the previous week. Qatar's oil prices were up by 6.3% last month to reach $ 50.90 a barrel compared to a price of $ 47.80 last month.

5. The Dow Jones Index rose 471 points to 22268 points. US Dollar exchange rate rose to $ 1.19 per euro and to 110.85 yen per dollar. Gold price about $ 27 an ounce to $ 1323.