The Group Securities Weekly Report on QSE Performance, 05 - 09 November 2017

The main index drop to the level of 7885 points

At the time, that OPEC crude oil price broke the level of $ 60 and $ 61.61 a barrel, Qatar Exchange was still recording new declines on the back of a nine-month decline in profits and the impact of Gulf crisis in its fifth month. While the average daily trading average increased by 30% to QR 178 Million, all other indices recorded significant declines, led by the general index which fell 3.2% to about 7885 points and all sectoral indices fell, especially insurance, real estate and transport and commodities sectors. Shares of 38 companies declined and the total capitalization declined QR 17.1 billion to QR 4264 billion.P/E ratio dropped to 11.76.

 The general index dropped by 260.7 points, or 3.2%, to 7885.5 points. All shares index decreased by 4.44% while the Al Rayan Islamic Index declined by 5.56%. All sectoral indices fell especially insurance, real estate,    transport and services indices. Al Ijara share price was the most declining by the rate of 18%, followed by the share price of the Islamic Holding Company 14.7% then the share price of Qatar Insurance and Mazaya share price. On the other hand, the share prices of four companies increased led by the share price of KhaleejTakaful by 3.37%, Doha Insurance share price, al Khaleeji and QNB share prices.  

On the other hand, the total trading volume in a week increased by 29.8% to reach the level of QR 893.2 Million and the daily average fell to QR 178.7 Million. Trading in QNB was valued at QR198 Million, followed by trading in QIIB, QR 76 Million and Milaha, QR 66.4 Million. The foreign portfolios bought net worth QR 97.3 Million against all categories where Qatari individuals sold net worth QR 79.2 Million. Qatari portfolios sold net worth QR 5.3 Million and non-Qatari individuals sold net worth QR 12.8 Million. As a result, the total capitalization of the Stock Exchange shares declined by QR 17.1 billion to QR 426.4 billion. P/E ratio fell to 11.76   from 12.24 a week ago.
 
Corporate News:
1. Qatar Islamic Bank (QIB) has signed a sales and purchase agreement with Malaysia Building Society Bhd (MBSB) to sell its full stake of 60% in the Asian Finance Bank, its affiliate in Malaysia.The sale process is expected to be completed within a period of six months from date of the sales and purchase agreement.

2. Barwa Real Estate Company announced that in the presses of selling treasury shares owned by Qatar Real Estate Investment Company (Al Aqaria), one of Barwa's wholly owned subsidiaries. The number of these shares is (50106), and will be sold in accordance with the regulatory procedures issued by Qatar Financial Markets Authority.

3 - Aamal Trading and Distribution, a subsidiary of Aamal Company has officially launched   Bridgestone Fleet Point center in Doha, bringing for the first time to Qatar such a world-class facility for the provision of high-quality commercial tyre services.  Sheikh Khaled Bin Faisal Al Thani has cut the ribbon of the new service center on behalf of Sheikh Mohammed Bin Faisal Al Thani, Vice Chairman and Managing Director of Aamal Company Q.P.S.C. In the presence of a number of senior representatives of Bridgestone.

4 - Al Khalij Commercial Bank (al khaliji) decided to invite the shareholders to attend an Ordinary and Extraordinary General Assembly Meetings (AGM and EGM) on Monday, 27 November 2017

 
Economic Developments:
Banks consolidated balance sheet for October has not been released, The data for September  was released during the week showing a rise in bank assets / liabilities worth QR 19 Billion to reach QR 1336.8 Billion. Government and public sector deposits rose QR 7.3 Billion to QR 302.7 Billion and the government and public sector loans declined by about QR 5 Billion to QR328.9 Billion. Total bonds and T-bills rose QR 17.5 Billion to QR146.3 Billion   while the private sector loans marginally increased to QR 453.9 Billion.

2. OPEC crude oil price rose by $ 3.12 to $ 61.61 a barrel, compared to $ 58.49 a barrel in the previous week.

3. The Dow Jones Index fell 118 points to 3,422 points. US dollar exchange rate rose to $ 1.17 per euro and fell slightly to 113.52 yen per dollar. Gold price rose about $ 6 an ounce to $ 1276.