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The Group Securities: Weekly Report on
QSE Performance, 1-5 June 2018
General Index Keeps Climbing Towards
9500 Points
Qatar stock exchange benefited from last
week’s strong rebound of oil prices. Despite unchanged trading
volumes that stayed put at QR1036 million, the shares prices of
34 companies rose, and the shares prices of 10 companies
declined. As a result, the general index climbed by 2.61% to the
level of 9260 points. Total capital increased by QR10.5 billion,
to QR504.2 billion, and the P/E ratio increased to a multiple of
12.94.
In depth, the general index increased by about 235.9 points or
2.61%, to the level of 9260 points. The All Share index rose by
2.12%, while Al Rayan Islamic Index increased by 3.68%. Six
sectoral indices increased, especially Industry,
Telecommunication and Real Estate. It has been noticed that the
share price of QNB was the top gainer, up by 10.47%; followed by
MediCare by 9.28%, Mazaya by 8.06%, Aamal by 7.01%, then
Vodafone Qatar by 5.68%. In contrast, the share price of Qatar
Cinema continued its sharp decline and was the biggest loser,
down by 9.77%; followed by Dlala by 3.56%, Ahli bank by 1.61%,
and the trio of Alkhaleej Takaful, Qatar Insurance and Mannai by
1.58% each.
Total trading volume stood at QR1036.1 million in a week, with an
average daily trading of QR207.2 million. QNB led the traded
shares with a volume of QR161.9 million, followed by the share
of Al Rayan with QR161.5 million, Vodafone with QR116 million,
and Industries Qatar with QR75.3 million, then Nakilat with
QR53.8 million, and Woqod with QR53.2. It was noticed that
Qatari portfolios made net sales of QR10.3 million, while
Non-Qatari portfolios dominated net purchases with QR126.9
million. Qatari individuals made total net sales of QR103.9
million, whereas foreign individual investors made net sales of
QR12.7 million. As a result, QSE’s total capitalization climbed
by QR10.5 billion to reach QR504.2 million, and P/E ratio rose
to a multiple of 12.94 compared to 12.54 from last week.
Corporate News:
1-
Barwa Real Estate Group announced that it has been awarded
construction of the Al Khor Sports Facilities Expansion Project
with a value of QR105 million. The project will be completed in
18 months.
2-
Widam and Ezdan Holding
set 17/7/2018 to disclose their 2018 semi-annual financial
statements. UDC and QWEC chose 18/7/2018 as the official date
for the disclosure, while Ahli Bank, Alkhaleej Bank, Islamic
Holding, QIIB and GWC scheduled their semi-annual disclosure on
19/7/2018. Qatar Cement will release the statements on
23/7/2018, Alijarah and QIMC on 26/7/2018, Ooredoo on 29/7/2018,
Islamic Insurance on 30/7/2018, then Doha Insurance on
31/7/2018.
3-
Investment
Holding Group has announced that, Ahli Bank Qatar has filed a
legal case amount of QR178.5 million against Investment Holding
Group and a group of defendants, all being guarantors of bank
facilities for Doha Convention Center project, where Investment
Holding Group’s share is 25.5 %. However, while the cases are
running in court, Parties are still attempting to solve the
dispute amicably, in order to settle the account in full with
the Main Contractor.
Economic Developments:
1-
In May 2018,
Qatar’s foreign merchandise trade balance showed a surplus of
about QR14.9 billion, i.e. an increase of about QR4.2 billion or
39.5% compared to May 2017, and an increase of QR0.1 billion or
0.5% compared to the previous month of April.
2-
Oil prices increased more than 2% on Tuesday, as Washington urged
its allies to halt imports of Iranian oil, and following the
drop of United States’ crude oil reserves by 9.2 million
barrels. OPEC oil rose to US $75.38 per barrel until 4th
of June, compared to US $74.31 per barrel a week prior. Qatar
set the price for its onshore oil for the month of June at US
$76.15 per barrel.
3-
Dow Jones fell by about 246 points to the level of 24216 points
until closing on Thursday. US dollar stood still at $1.17
against the Euro, and against the yen at ¥110.58 per dollar.
Gold rose by about US $4 to US $1256 per ounce.
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