QNBFS Daily Market Report October 08, 2017

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1. Page 1 of 8 QSE Intra-Day Movement Qatar Commentary The QSE Index declined 0.3% to close at 8,132.1. Losses were led by the Real Estate and Consumer Goods &…
  • 1. Page 1 of 8 QSE Intra-Day Movement Qatar Commentary The QSE Index declined 0.3% to close at 8,132.1. Losses were led by the Real Estate and Consumer Goods & Services indices, falling 1.6% and 0.3%, respectively. Top losers were Qatar German Co. for Medical Devices and Al Khaleej Takaful Group, falling 5.8% and 3.8%, respectively. Among the top gainers, Qatar International Islamic Bank rose 3.0%, while Qatar National Cement Co. was up 2.7%. GCC Commentary Saudi Arabia: The TASI Index fell 0.4% to close at 7,259.2. Losses were led by the Consumer Serv. and Food & Staples. indices, falling 1.5% and 1.2%, respectively. Anaam Int. Holding Group fell 3.1%, while National Gas & Ind. Co. was down 2.2%. Dubai: The DFM Index declined 0.2% to close at 3,591.1. The Real Estate & Construction index fell 0.6%, while the Banks index declined 0.4%. Arabtec Holding fell 2.0%, while Deyaar Development was down 1.6%. Abu Dhabi: The ADX benchmark index fell 0.4% to close at 4,414.2. The Services index declined 1.2%, while the Banks index fell 1.0%. National Marine Dredging Co. declined 9.9%, while Oman & Emirates Investment Co. was down 8.6%. Kuwait: The KSE Index declined 0.5% to close at 6,662.1. The Technology index fell 2.7%, while the Industrials index declined 1.9%. Nafais Holding Company fell 20.0%, while Sanam Real Estate Co. was down 10.8%. Oman: The MSM Index rose 0.1% to close at 5,213.5. Gains were led by the Industrial and Services indices, rising 0.9% each. Oman National Engine. Invt. rose 8.8%, while Al Anwar Ceramic Tiles was up 5.3%. Bahrain: The BHB Index gained marginally to close at 1,274.1. The Investment index rose 0.1%, while the other indices ended flat or in red. Bahrain Islamic Bank rose 3.6%, while Nass Corporation was up 2.5%. QSE Top Gainers Close* 1D% Vol. ‘000 YTD% Qatar International Islamic Bank 50.49 3.0 118.8 (19.6) Qatar National Cement Co. 64.99 2.7 0.4 (16.9) Qatari Investors Group 33.99 1.4 78.7 (41.9) Gulf Warehousing Co. 43.60 1.3 10.0 (22.1) Aamal Co. 8.13 1.2 68.7 (40.4) QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD% Vodafone Qatar 8.07 (0.4) 1,500.9 (13.9) Ezdan Holding Group 9.15 (2.3) 1,466.1 (39.4) Qatar Gas Transport Co. Ltd 15.06 (0.6) 435.4 (34.8) QNB Group 120.75 (0.2) 386.8 (18.5) National Leasing 11.42 (1.0) 367.5 (25.5) Market Indicators 05 Oct 17 04 Oct 17 %Chg. Value Traded (QR mn) 152.0 181.2 (16.1) Exch. Market Cap. (QR mn) 443,716.5 445,038.5 (0.3) Volume (mn) 6.6 8.7 (23.6) Number of Transactions 2,303 2,098 9.8 Companies Traded 41 41 0.0 Market Breadth 10:26 6:34 – Market Indices Close 1D% WTD% YTD% TTM P/E Total Return 13,636.96 (0.3) (2.2) (19.2) 13.3 All Share Index 2,294.11 (0.3) (3.2) (20.0) 12.7 Banks 2,549.84 (0.2) (2.0) (12.4) 13.6 Industrials 2,528.43 (0.1) (1.3) (23.5) 16.8 Transportation 1,689.91 (0.0) (2.7) (33.7) 11.4 Real Estate 1,598.28 (1.6) (9.6) (28.8) 10.9 Insurance 3,239.43 0.3 (3.5) (27.0) 14.6 Telecoms 1,019.15 (0.1) (0.9) (15.5) 19.7 Consumer 4,933.02 (0.3) (3.2) (16.4) 11.7 Al Rayan Islamic Index 3,295.96 0.2 (2.6) (15.1) 15.2 QSE Top Losers Close* 1D% Vol. ‘000 YTD% Qatar German Co. for Med. Dev. 7.25 (5.8) 51.6 (28.2) Al Khaleej Takaful Group 13.46 (3.8) 15.1 (36.2) Ezdan Holding Group 9.15 (2.3) 1,466.1 (39.4) Investment Holding Group 7.80 (1.9) 162.1 (22.0) Qatar Oman Investment Co. 7.86 (1.9) 8.7 (21.0) QSE Top Value Trades Close* 1D% Val. ‘000 YTD% QNB Group 120.75 (0.2) 46,711.3 (18.5) Ezdan Holding Group 9.15 (2.3) 13,908.5 (39.4) Vodafone Qatar 8.07 (0.4) 12,104.6 (13.9) Masraf Al Rayan 35.82 (1.5) 9,954.6 (4.7) Qatar Gas Transport Co. Ltd 15.06 (0.6) 6,579.8 (34.8) Source: Bloomberg (* in QR) Regional Indices Close 1D% WTD% MTD% YTD% Exch. Val. Traded ($ mn) Exchange Mkt. Cap. ($ mn) P/E** P/B** Dividend Yield Qatar* 8,132.05 (0.3) (2.2) (2.2) (22.1) 41.74 121,888.9 13.3 1.2 4.8 Dubai 3,591.10 (0.2) 0.8 0.8 1.7 108.38 104,366.7 N/A 1.3 4.0 Abu Dhabi 4,414.16 (0.4) 0.4 0.4 (2.9) 416.05 116,230.4 16.3 1.3 4.6 Saudi Arabia 7,259.22 (0.4) (0.3) (0.3) 0.7 739.46 457,672.2 17.7 1.7 3.3 Kuwait 6,662.11 (0.5) (0.3) (0.3) 15.9 149.15 100,001.9 17.9 1.2 5.2 Oman 5,213.49 0.1 1.5 1.5 (9.8) 80.27 21,325.6 12.1 1.1 5.1 Bahrain 1,274.10 0.0 (0.7) (0.7) 4.4 12.16 20,049.5 7.5 0.8 6.2 Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any) 8,120 8,140 8,160 8,180 9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00
  • 2. Page 2 of 8 Qatar Market Commentary  The QSE Index declined 0.3% to close at 8,132.1. The Real Estate and Consumer Goods & Services indices led the losses. The index fell on the back of selling pressure from non-Qatari shareholders despite buying support from Qatari and GCC shareholders.  Qatar German Co. for Medical Devices and Al Khaleej Takaful Group were the top losers, falling 5.8% and 3.8%, respectively. Among the top gainers, Qatar International Islamic Bank rose 3.0%, while Qatar National Cement Co. was up 2.7%.  Volume of shares traded on Thursday fell by 23.6% to 6.6mn from 8.7mn on Wednesday. Further, as compared to the 30-day moving average of 9.4mn, volume for the day was 29.3% lower. Vodafone Qatar and Ezdan Holding Group were the most active stocks, contributing 22.6% and 22.1% to the total volume, respectively. Source: Qatar Stock Exchange (* as a % of traded value) Global Economic Data and Earnings Calendar Global Economic Data Date Market Source Indicator Period Actual Consensus Previous 10/05 US Department of Labor Initial Jobless Claims 30-September 260k 265k 272k 10/05 US Department of Labor Continuing Claims 23- September 1,938k 1,950k 1,936k 10/05 US US Census Bureau Trade Balance August -$42.4bn -$42.7bn -$43.6bn 10/06 US Bureau of Labor Statistics Underemployment Rate September 8.3% – 8.6% 10/05 EU Markit Markit Eurozone Retail PMI September 52.3 – 50.8 10/05 Germany Markit Markit Germany Retail PMI September 52.8 – 53.0 10/05 India Markit Nikkei India PMI Services September 50.7 – 47.5 10/05 India Markit Nikkei India PMI Composite September 51.1 – 49.0 Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted) Earnings Calendar Tickers Company Name Date of reporting 3Q2017 results No. of days remaining Status MCGS Medicare Group 10-Oct-17 2 Due QNBK QNB Group 11-Oct-17 3 Due MARK Masraf Al Rayan 16-Oct-17 8 Due QIGD Qatari Investors Group 16-Oct-17 8 Due WDAM Widam Food Company 16-Oct-17 8 Due DBIS Dlala Brokerage & Investment Holding Company 17-Oct-17 9 Due CBQK Commercial Bank 17-Oct-17 9 Due ABQK Ahli Bank 18-Oct-17 10 Due QIBK Qatar Islamic Bank 18-Oct-17 10 Due QNCD Qatar National Cement Company 18-Oct-17 10 Due NLCS National Leasing (Alijarah) 19-Oct-17 11 Due QGTS Qatar Gas Transport Company (Nakilat) 22-Oct-17 14 Due QATI Qatar Insurance Company 22-Oct-17 14 Due DHBK Doha Bank 23-Oct-17 15 Due QIIK Qatar International Islamic Bank 23-Oct-17 15 Due IHGS Islamic Holding Group 23-Oct-17 15 Due KCBK Al Khaliji Commercial Bank 24-Oct-17 16 Due QIMD Qatar Industrial Manufacturing Company 24-Oct-17 16 Due UDCD United Development Company 25-Oct-17 17 Due QISI Qatar Islamic Insurance Company 25-Oct-17 17 Due QFLS Qatar Fuel Company 25-Oct-17 17 Due VFQS# Vodafone Qatar 25-Oct-17 17 Due AKHI Al Khaleej Takaful Group 26-Oct-17 18 Due QOIS Qatar Oman Investment Company 26-Oct-17 18 Due Overall Activity Buy %* Sell %* Net (QR) Qatari Individuals 32.07% 45.76% (20,809,391.92) Qatari Institutions 25.42% 10.25% 23,055,863.05 Qatari 57.49% 56.01% 2,246,471.13 GCC Individuals 0.44% 0.99% (838,320.04) GCC Institutions 1.77% 0.58% 1,801,043.80 GCC 2.21% 1.57% 962,723.76 Non-Qatari Individuals 8.14% 10.97% (4,312,490.70) Non-Qatari Institutions 32.16% 31.44% 1,103,295.81 Non-Qatari 40.30% 42.41% (3,209,194.89)
  • 3. Page 3 of 8 SIIS Salam International Investment Limited 29-Oct-17 21 Due ORDS Ooredoo 29-Oct-17 21 Due GWCS Gulf Warehousing Company 30-Oct-17 22 Due Source: QSE ( # FinancialYear ending March 31.) News Qatar  VFQS to disclose its semi-annuals financial statements on October 25 – Vodafone Qatar (VFQS) announced it would disclose its semi-annual financial statements for the period ending September 30, 2017, on October 25, 2017. Vodafone Qatar’s financial year runs from April 1 to March 31 every year. (QSE)  QGTS to disclose its third quarter financial statements on October 22 – Qatar Gas Transport Company Limited (QGTS) announced it would disclose its third quarter financial statements for the period ending September 30, 2017, on October 22, 2017. (QSE)  QATI to disclose its third quarter financial statements on October 22 – Qatar Insurance Company (QATI) announced it would disclose its third quarter financial statements for the period ending September 30, 2017, on October 22, 2017. (QSE)  QNB Group: Qatari economy will remain resilient – Qatar's economy remains one of the strongest in the Middle East and North Africa region despite the blockade by some neighboring countries, according to QNB Group weekly economic analysis. Hydrocarbon exports have continued uninterrupted, new trade routes have been established and the authorities are eager to attain a higher degree of economic self-sufficiency. While the blockade initially disrupted some economic activity, its impact has dissipated. Over the medium-term, the Qatari economy will prove resilient. Domestic industries will benefit from increased self-reliance while the government’s plans to expand liquefied natural gas (LNG) production and a renewed drive to attract international tourists will drive future growth. (Peninsula Qatar)  Hamad Port import container volume doubles in September – The volume of import containers handled at Qatar’s world-class Hamad Port doubled in September compared with the average number of import containers received in the first six months of the year at the newly inaugurated facility. While the total number of import containers arrived at the port in the first half of the year stood around 157,000 TEUs, making a monthly average of a little over 26,100 TEUs, the volume of import containers shot up significantly to more than 54,000 TEUs in September, shipping industry sources said. Confirming the “encouraging” trend, sources attributed the remarkable leap in import volumes to business generated at the port, post blockade. Equally encouraging were imports in the two previous months, sources said. While it was close to 39,000 TEUs in July, the number exceeded 45,000 in August. (Gulf- Times.com)  Projects worth QR4bn to be completed in Khor by 2022 – Al Khor will benefit from more than 18 service projects that are set to be completed by 2022 at a cost of more than QR4bn, the Public Works Authority (Ashghal) announced during a meeting with community leaders of the city at Al Khor Sports Club. Ashghal’s President, Saad Bin Ahmed Al Muhannadi attended the meeting along with a number of Ashghal officials and in the presence of Central Municipal Council (CMC) Vice Chairman Hamad Lahdan Al Mohannadi and CMC Al Khor Representative Nasser Bin Ibrahim Al Muhannadi. The meeting discussed Ashghal’s comprehensive plan to develop the infrastructure, roads and sewer system of Al Khor as well as public building projects in the city. (Gulf-Times.com)  QIA among 10 biggest wealth funds – Qatar Investment Authority (QIA), the sovereign wealth fund of Qatar, is among the biggest 10 sovereign wealth funds in the world. The fund, with over $320bn assets as of September 2017, is at the ninth position in the ‘Sovereign Wealth Fund Rankings’ by the Sovereign Wealth Fund Institute. (Peninsula Qatar)  QIBK inks deal with Ibn Ajayan Trading Group – Qatar Islamic Bank (QIBK) announced that it has entered a strategic partnership with Ibn Ajayan Trading Group. Under the terms of the deal, QIBK will be the preferred financing partner for the Qatar-based equipment dealer. Senior executives from both organizations gathered at the Bank’s corporate headquarters in Doha for the official signing, with Ajayan Mahdi Al Ahbabi, Ibn Ajayan Trading Group’s CEO and Mazen Al Thalathini, Assistant General Manager, Wholesale Banking Group, representing QIBK. As part of the agreement, customers of Ibn Ajayan Trading Group who would like to purchase new equipment are entitled to use the Bank’s attractive Fleet and Heavy Equipment financing scheme. QIBK’s fleet and heavy equipment financing package, a collection of products and services designed specifically for small and medium enterprises (SMEs). (Peninsula Qatar)  PM announces incentives for private sector – Qatar has taken several measures to support investment in the country and provide incentives to the private sector to increase production and ensure the provision of various commodities in the local market. Upon the directives of His Highness the Emir Sheikh Tamim Bin Hamad Al Thani and the recommendations made by the Ministerial Group to support, motivate and encourage the private sector to increase its contribution to the economic development of the State, HE the Prime Minister and Interior Minister Sheikh Abdullah Bin Nasser Bin Khalifa Al Thani announced several decisions and issued directives to various ministries. HE the Prime Minister decided to reduce the rental value by 50% for all investors in the logistics areas of the Economic Zones Corporation in the south of the country, during 2018 and 2019. The revised rental values will be QR20 per square meter from the earlier QR40. It is also decided to provide more exemptions to stimulate investors to speed up the completion of their projects on time. Investors in the logistics areas south of the State are exempted of the rental value of 2018 in the event of the issuance of building permits before January 31, 2018 and they would be exempted from paying rents for 2019 in the event of the issuance of licenses to complete the construction before January 31, 2019. HE the
  • 4. Page 4 of 8 Prime Minister also directed the Qatar Development Bank (QDB) to postpone the loan installments to industrial project owners approved by the Ministry of Energy and Industry’s Committee for up to six months. This is to support investors in the industrial sector and give greater role to the private sector in the economic development projects in the State. (Gulf- Times.com)  Al Sada: GECF playing positive role for environment – The Minister of Energy and Industry, HE Mohammed Bin Saleh Al Sada reiterated the important role played by the Gas Exporting Countries Forum (GECF) in developing the exploitation of natural gas efficiently and in raising awareness about its positive results on the environment as a result of the expansion of the use of gas as fuel. In his speech, at the 19th Ministerial Meeting of the GECF in Moscow, while chairing Qatar’s delegation to the meeting, Al Sada stressed the importance of studies and research released by the Forum. During the meeting, which was also attended by Qatar’s Ambassador to the Russian Federation, HE Fahd Bin Mohammed Al Attiyah, the Minister said that Qatar, in view of its leading position as the world’s largest exporter of gas, is making strenuous efforts to fulfill its contractual obligations towards its customers. It succeeded to deliver all shipments on time, even during the current siege and without resorting to the legal provisions under the force majeure. (Peninsula Qatar)  QDB signs MoU with Merraas Real Estate to support Qatar SMEs – Qatar Development Bank (QDB) signed a memorandum of understanding (MoU) with Merraas Real Estate, as part of its drive to expand the existing scale of nationwide cooperation between Qatari companies. The MoU was signed between QDB’s Executive Director for Advisory Services, Ibrahim Abdulaziz Al Mannai and Merraas Real Estate’s Chairman, Mana Ibrahim Al Mana. The new agreement outlines common objectives of all signatories to exchange professional expertise, experience, and skills in the fields of organizational management and to jointly offer office space and business venues for SMEs within a larger framework for incubation support. (Gulf-Times.com)  Italian trade bodies look to bolster Qatari partnership – Italian companies are looking to share their global expertise in the field of environment protection, agro businesses, construction and social & health care sector with Qatar, according to a visiting Italian trade delegation. The delegation, led by Italian Trade Commissioner, Giosafat Rigano and Italian Cooperative Confederation’s international office Head, Antonello Ciambriello, said they are also keen on partnering with the newly opened Hamad Port. “One of the Italian companies has already won a bid in July last to develop a food processing unit in the Hamad Port. We are looking to create a special hub for the food processing within the port,” Rigano said. The trade volume between Qatar and Italy currently stands more than $1bn for the first half of 2017. “This is an 11% increase compared to the same period in 2016.” We hope this figure will further go up going forward,” he said. (Peninsula Qatar)  Qatar-UK trade volume at QR5.6bn in the first half of this year – The Minister of Economy and Commerce, HE Sheikh Ahmed Bin Jassim Al Thani met with Liam Fox, British Secretary of State for International Trade and President of the Board of Trade, and his accompanying delegation. During the meeting, they reviewed the bilateral relations and discussed aspects of joint cooperation, especially in the economic, trade and investment fields, and means of developing them. Qatar and the UK have signed a number of trade agreements. They include an agreement on economic, commercial and technical cooperation, signed on June 19, 1976 in Doha, an agreement on the promotion and protection of mutual investments, signed on October 27, 2009 in Doha, and a memorandum of understanding (MoU) signed between the two countries for cooperation in the fields of business, trade and technology on October 28, 2010 in London. The volume of trade exchange between Qatar and the UK in the first half of this year amounted to about QR5.6bn, and the number of British companies operating in the Qatari market is 79 companies, working in the field of oil and gas, infrastructure and information technology, while the number of the British-Qatari companies operating in the State of Qatar is 672 companies. (Peninsula Qatar)  Ooredoo business broadband to boost competitiveness – Qatar’s national digital transformation, led by connecting businesses to broadband, could add $8bn in GDP by 2020, Ooredoo, one of the region’s leading ICT providers, announced in re-launching its business broadband. Investment in broadband technologies and developing digital skills could increase Qatar’s GDP by $7.8bn by 2020, according to a recent report by Accenture. While small businesses are major economic drivers and job creators in Qatar, only about half are connected to fixed broadband with speeds of more than 10mbps, according to a recent report by Qatar’s Ministry of Transport and Communications. (Peninsula Qatar)  Turkish companies seek to expand footprint in Qatar’s household, food sectors – Turkish companies are looking to expand their footprint in Qatar beyond the construction sector, an official of the Turkish Businessmen Association–Qatar (TBA-Qatar) has said, citing “big opportunities” in the fields of household and food products. TBA-Qatar’s President, Ahmet Basar said Turkey is a major participant in Qatar’s construction sector, particularly in various infrastructure development projects. The capacity of Turkey and quantity of exportation to Qatar is not comparable. Between Qatar and Turkey, there is a big relationship in the construction sector. Turkish companies are contributing to the development of roads and other infrastructure, but the trade volume between the two countries is very small. (Gulf-Times.com)  Hospi
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