The Group Securities: Weekly Report on QSE Performance, 8-12 April
2018
General Index Up 1.43% Despite End of Week Drop
Stock indices dropped by the end of the week in reaction to
concerns about the situation in the Middle East worsening
following American threats to strike the Syrian regime. As a
result, the general index retreated to below the level of 9000
points, after having exceeded it in the Tuesday and Wednesday
sessions. By the end of the week the general index was still up
1.43% compared to the previous week, and settled at 8918.5
points, while Al Rayan gained 0.68%. Indices of four sectors
made an increase, while those of three other sectors dropped.
The total capitalization increased to QR491.9 billion, and the
profit-to-earnings ratio rose by a multiple of 12.79.
In depth, the General Index increased by about 125.6 points or
1.43%, to the level of 8918.5 points. Al Rayan Islamic Index
rose by 0.68%, as well as 3 Sector Indices, most noticeably
insurance, while the indices of 4 other sectors dropped, mainly
real estate. It has been noticed that the share price of Aamal
made the largest gain with a 6.67% hike, followed by Mesaieed by
6.3%, Water & Electricity by 5.35%, and then QIB by 4.43%. In
contrast, the share price of Al Mannai recorded the biggest loss
with a 10.6% drop, followed by Islamic Holding by 7.9%, Ahli
Bank by 5.9%, and finally Investment Holding by 4.8%.
Total trading volume increased by 13.3% during the week to QR1.43
billion, consequently the average daily trading increased to
QR286.9 million. Industries Qatar led the traded shares with a
volume of QR213 million, followed by the share of QNB with
QR176.3 million, Mesaieed with QR148.1 million, and then Doha
Bank with QR92.6 million. It was noticed that Non-Qatari
portfolios made net purchases worth QR44.9 million. Qatari
individual investors made net sales of QR44.9 million, while
Qatari portfolios made a total net sales of QR11 million, as for
non-Qatari individuals, they made net sales of QR18.5 million.
As a result, QSE’s total capitalization increased by QR9.1
billion to reach QR493.9 billion. P/E ratio increased to a
multiple of 12.79 compared to 12.59 a week earlier.
Corporate News:
1-
Qatar National
Bank's net profit rose to QR3.4 billion in the first quarter of
2018, compared to QR3.2 billion for the same period last year.
The bank’s earnings per share amounted to QR3.6 compared to
QR3.3 for the same period last year. Total operating revenues
for the first quarter increased by 11% to QR5.96 billion, of
which QR4.67 billion in net interests. All expenses increased by
17% to QR2.34 billion for the same period, of which QR882.8
million went to the personnel, and QR599.1 million for
impairment losses on loans. Consequently, the net profit
increased by 7.1% to QR3.43 million.
There were fair
value of investments losses among others amounting to QR1.47
billion. As a result, the comprehensive income attributable to
shareholders amounted to QR2009 million.
2-
Doha Bank
announced that Fitch Ratings has affirmed the bank’s credit
rating at ‘A’ for “its ability to meet its long-term financial
obligations”. Moreover, QIIB said that the international rating
agencies Fitch and Capital Intelligence gave the bank a rating
of ‘A’. As for QIB, Fitch had established the bank's long-term
credit rating at A, while Standard & Poor's confirmed the bank's
rating at A-.
3-
Qatar Central
Securities Depository announced that it has raised the maximum
ownership of non-Qatari investors in Electricity & Water Co.,
QIB, Qatar Industrial Manufacturing Co., and Industries Qatar to
49% instead of 25%.
4-
Qatar Cinema
general assembly approved the distribution of a 10% cash
dividend to shareholders for the financial year 2017.
5-
QIIB set 15
April to disclose its first quarter financial statements for
2018, while Nakilat and Qatar Insurance chose 24 April, General
Insurance will release them on 25 April, and Qatar-Oman and Al
Meera will follow suit on 29 April. Ezdan Holding slated the
release of its first quarter figures on 30 April, while UDC
postponed it to 29 April.
6-
Al Meera
announced the opening of its 49th shopping center in
Aba Al Heran, Qatar.
Economic
Developments:
1-
Ministry of
Development Planning & Statistics issued the consumer price
index for March 2018, which shows a decrease in inflation to
0.4% compared to 0.8% in February 2018.
2-
OPEC oil in Qatar increased during the previous week until
Wednesday 11th April by US $3.81 due to the tension
in the Middle East to US $68.29 per barrel, compared to the
previous month’s price tag of US $64.48 per barrel.
3-
Dow Jones index lost 22 points to go down to the level of 24483
points until closing on Thursday. US dollar held its $1.23
position against the euro, and held steady once again against
the yen at ¥107.56 per dollar. Gold rose by about US $10 to the
level of $1340 per ounce.
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