The QSE Index rose marginally to close at 13,729.8 led by gains in the Real Estate and Insurance indices. Qatar National Cement Co. and Doha Insurance Co. were the top gainers rising 2.7% and 2.1% respectively. Zad Holding Co. fell 1.8% and was among the top losers. Regional indices were mixed with Dubai and Abu Dhabi rising while Saudi Arabia, Kuwait, Bahrain declined and Oman rose.
The QE Index in Qatar declined 2.9% led by losses in the real estate and consumer goods indices. Top losers were Salam International Investment and Mazaya Qatar Real Estate Development. Regional indices also fell, with Saudi Arabia down 3.6% and Dubai down 4.9%. Trading volumes in Qatar rose 47.0% with Ezdan Holding and Vodafone Qatar being the most active. QNB commented that Qatar's economy remains safe from deflation despite global economic risks.
The QE index in Qatar declined slightly by 0.1% led by losses in the telecom and consumer goods sectors. Mesaieed Petrochem and Qatari Investors Group were among the top gainers, while Doha Insurance and Qatar Oman Investment were the top losers. Trading volume fell by 13.8% compared to the previous day but was higher than the 30-day average. Regional indices were mixed with Abu Dhabi rising 1% and Saudi Arabia falling marginally.
QNBFS Daily Market Report January 24, 2021QNB Group
The QE Index declined 0.6% to close at 10,736.4. Losses were led by the Banks & Financial Services and Telecoms indices, falling 0.8% and 0.6%, respectively.
The QE index in Qatar rose 1.3% led by gains in the banking and real estate indices. Ezdan Holding Group and Salam International Investment Co. were the top gainers rising 7% and 4.7% respectively. Regional indices were mixed with Kuwait up 0.6% while Abu Dhabi fell 0.7% and Saudi Arabia declined 0.1%. QNBK reported a 7% rise in 1H2014 net profit to QR5.1 billion driven by a 5% increase in operating income.
The QSE Index rose 0.1% to close at 9,015.2. Gains were led by the Banks & Financial Services and Industrials indices, gaining 0.4% and 0.1%, respectively.
QNBFS Daily Market Report October 28, 2020QNB Group
The QE Index rose 0.5% to close at 9,853.2. Gains were led by the Telecoms and Banks & Financial Services indices, gaining 1.0% and 0.8%, respectively.
QNBFS Daily Market Report November 07, 2021QNB Group
The QE Index rose 0.5% to close at 11,940.6. Gains were led by the Real Estate and Banks & Financial Services indices, gaining 1.1% and 0.7%, respectively.
The QE Index in Qatar declined 2.9% led by losses in the real estate and consumer goods indices. Top losers were Salam International Investment and Mazaya Qatar Real Estate Development. Regional indices also fell, with Saudi Arabia down 3.6% and Dubai down 4.9%. Trading volumes in Qatar rose 47.0% with Ezdan Holding and Vodafone Qatar being the most active. QNB commented that Qatar's economy remains safe from deflation despite global economic risks.
The QE index in Qatar declined slightly by 0.1% led by losses in the telecom and consumer goods sectors. Mesaieed Petrochem and Qatari Investors Group were among the top gainers, while Doha Insurance and Qatar Oman Investment were the top losers. Trading volume fell by 13.8% compared to the previous day but was higher than the 30-day average. Regional indices were mixed with Abu Dhabi rising 1% and Saudi Arabia falling marginally.
QNBFS Daily Market Report January 24, 2021QNB Group
The QE Index declined 0.6% to close at 10,736.4. Losses were led by the Banks & Financial Services and Telecoms indices, falling 0.8% and 0.6%, respectively.
The QE index in Qatar rose 1.3% led by gains in the banking and real estate indices. Ezdan Holding Group and Salam International Investment Co. were the top gainers rising 7% and 4.7% respectively. Regional indices were mixed with Kuwait up 0.6% while Abu Dhabi fell 0.7% and Saudi Arabia declined 0.1%. QNBK reported a 7% rise in 1H2014 net profit to QR5.1 billion driven by a 5% increase in operating income.
The QSE Index rose 0.1% to close at 9,015.2. Gains were led by the Banks & Financial Services and Industrials indices, gaining 0.4% and 0.1%, respectively.
QNBFS Daily Market Report October 28, 2020QNB Group
The QE Index rose 0.5% to close at 9,853.2. Gains were led by the Telecoms and Banks & Financial Services indices, gaining 1.0% and 0.8%, respectively.
QNBFS Daily Market Report November 07, 2021QNB Group
The QE Index rose 0.5% to close at 11,940.6. Gains were led by the Real Estate and Banks & Financial Services indices, gaining 1.1% and 0.7%, respectively.
The QE index in Qatar rose 0.6% led by gains in the real estate and transportation indices. Islamic Holding Group and Qatari Investors Group saw the largest gains, rising 10% and 9.9% respectively. Overall trading activity fell compared to the previous day. Regional indices were mixed with Saudi Arabia falling 0.1% while Bahrain rose 1.2%. Global economic data was mixed with money supply in China rising and industrial production falling in some European countries. News articles discussed Qatar's positive economic outlook benefiting the insurance industry and a 1.6% rise in Qatar's PPI in 4Q2013.
The QE index in Qatar declined 0.5% led by losses in the banking and financial services and industrials indices. QNB Group and Medicare Group were the top losers. Doha Insurance Co. and Zad Holding Co. were among the top gainers. Trading volume fell 16.5% compared to the previous day but was 4.9% higher than the 30-day moving average. Qatar is set to award infrastructure projects worth $26.2 billion in 2014, a significant increase from $9.4 billion in 2013, as major construction projects are planned across GCC countries.
The QE index in Qatar declined 1.0% led by losses in the telecom and consumer goods sectors. Top losers were Qatar Islamic Bank and Vodafone Qatar falling 3.7% each. Regional indices were also mostly down with Dubai falling 6.0% and Abu Dhabi down 2.3%. Earnings results were released for several Saudi companies with revenue and profits varying, while ratings actions saw Kuwait Finance House and Oman Insurance receive unchanged ratings.
The QE index in Qatar rose marginally to close at 12,970.8, led by gains in the telecom and industrial indices. Ooredoo and Qatar Islamic Insurance Co. were the top gainers, while Salam International Investment Co. and Al Ahli Bank declined the most. Regional markets were mixed with Saudi Arabia and Kuwait gaining slightly while Dubai, Abu Dhabi, Oman, and Bahrain fell. Trading volume on the QE fell 26.8% compared to the previous day.
QNBFS Daily Market Report October 15, 2020QNB Group
The QE Index in Qatar declined 0.3% led by losses in the Insurance and Banks & Financial Services indices. Dlala Brokerage & Investment Holding Company and Qatar Insurance Company were the top losers. Trading volume fell 27.7% compared to the previous day. In other GCC markets, the indices in Saudi Arabia and Kuwait fell slightly while Abu Dhabi and Oman were up marginally. Earnings reports from several Omani companies were mixed with some reporting declines in revenue but growth in net profit.
The QE Index declined 0.6% to close at 8,479.2. Losses were led by the Banks & Financial Services and Transportation indices, falling 2.0% and 1.2%, respectively.
The document provides an overview of stock market performance and news in Qatar and other GCC countries on May 3, 2017. The key points are:
- Qatar's stock market index declined 0.4% as the telecom and transportation sectors fell. Top losers were Al Khaleej Takaful Group and Qatar Industrial Manufacturing Co.
- Elsewhere in the GCC, stock markets in Saudi Arabia and Dubai declined while those in Abu Dhabi, Kuwait and Oman rose.
- Earnings reports from companies in Saudi Arabia, Bahrain and other GCC countries showed mixed revenue and profit results for 1Q2017.
The QE index in Qatar declined 2.4% led by losses in the telecom and real estate indices. Top losers were Qatari Investors Group falling 9.9% and Qatar Cinema & Film Distri falling 8.2%. Regional markets were mixed with Abu Dhabi up 0.5% and Dubai down 0.7%. Economic data from major countries showed initial US jobless claims were 312k, French GDP grew 0.7% YoY in Q1, and UK GDP expanded 3% YoY in Q1.
The QE index in Qatar declined 0.2% led by losses in the transportation and telecom indices. Qatar Gas Transport and Qatar Electricity & Water were the top losers. In other GCC markets, indices declined in Saudi Arabia by 0.3%, Dubai by 1.3%, and Abu Dhabi by 0.5%. Volume on the Qatar exchange rose 20.4% but remained below the 30-day average. International news discussed the US debt ceiling deadline and IMF warnings on exiting unconventional monetary policies.
The document provides an intra-day market summary and commentary for Qatar and other GCC exchanges. It summarizes that the QE index in Qatar rose 1.3% led by gains in the real estate and industrial indices. Top gainers included Doha Insurance Co. and Gulf International Services. It also provides company earnings results and global economic data updates.
QNBFS Daily Market Report November 03, 2019QNB Group
The QE Index declined 0.9% to close at 10,189.0. Losses were led by the Industrials and Banks & Financial Services indices, falling 1.2% and 1.0%, respectively.
The QE Index in Qatar declined 0.8% led by losses in the Transportation and Industrials indices. Baladna and Qatar Navigation were the top losers falling 7.0% and 3.1% respectively. Mannai Corporation was up 10.0% and Ahli Bank was up 9.1%. Trading volume on the QSE fell 53.6% compared to the previous day. Earnings releases are expected on April 6th from ERES and on March 24th from MRDS. Ooredoo, Mastercard and QNB launched virtual and contactless prepaid cards in Qatar in line with the Qatar National Vision 2030. Coface expects Qatar's economy to rebound in 2021, driven by
The QE index in Qatar declined 0.6% led by losses in the transportation and banking indices. Ahli Bank and Dlala Brokerage were the top losers falling 3.6% and 2.3% respectively, while Ezdan Holding rose 7.8% and Aamal Co gained 3.9%. Trading volume fell 5.5% from the previous day but was lower than the 30-day average. In other GCC markets, Saudi Arabia's index rose marginally while Dubai and Abu Dhabi fell.
The QSE Index declined 1.2% led by losses in the Telecom and Real Estate indices. Dlala Brokerage and Zad Holding were the top losers falling 3.8% and 2.8% respectively. Regional markets were mixed with Saudi Arabia and Kuwait rising slightly while Dubai and Abu Dhabi fell. QNB Group reported a 10.2% rise in 1H2015 net profit driven by growth in net interest and fee income.
QNBFS Daily Market Report October 29, 2019QNB Group
The QE Index in Qatar declined 0.8% led by losses in the Insurance and Banks & Financial Services indices. Qatar General Insurance & Reinsurance Company and Mannai Corporation were the top losers falling 10.0% and 4.2% respectively. Most other GCC indices also declined except for Oman which gained 0.5%. Earnings releases from companies in Saudi Arabia showed declines in revenue and profits year-over-year for many except a few such as Saudi Cement Co.
The QE Index in Qatar declined slightly, led by losses in the telecom and real estate sectors. Top losers were Mannai Corporation and Alijarah Holding. Regional markets were mixed, with Saudi Arabia and Oman gaining slightly while Bahrain declined marginally. Earnings reports from companies in Qatar, Saudi Arabia, and Oman were reported, with some beating estimates and others missing targets. Trading activity in Qatar fell compared to the previous day and 30-day average.
The QSE Index declined slightly, led by losses in the consumer goods and real estate sectors. Gulf International Services and Dlala Brokerage were the top losers. The indexes of other GCC countries also declined, with losses in sectors like transportation, real estate, and banks. Earnings reports were mixed, with some companies reporting declines in revenue and profits and others reporting growth. Economic data from major countries showed some weakness in areas like industrial production and employment.
The QE index in Qatar rose 0.6% led by gains in the real estate and transportation indices. Islamic Holding Group and Qatari Investors Group saw the largest gains, rising 10% and 9.9% respectively. Overall trading activity fell compared to the previous day. Regional indices were mixed with Saudi Arabia falling 0.1% while Bahrain rose 1.2%. Global economic data was mixed with money supply in China rising and industrial production falling in some European countries. News articles discussed Qatar's positive economic outlook benefiting the insurance industry and a 1.6% rise in Qatar's PPI in 4Q2013.
The QE index in Qatar declined 0.5% led by losses in the banking and financial services and industrials indices. QNB Group and Medicare Group were the top losers. Doha Insurance Co. and Zad Holding Co. were among the top gainers. Trading volume fell 16.5% compared to the previous day but was 4.9% higher than the 30-day moving average. Qatar is set to award infrastructure projects worth $26.2 billion in 2014, a significant increase from $9.4 billion in 2013, as major construction projects are planned across GCC countries.
The QE index in Qatar declined 1.0% led by losses in the telecom and consumer goods sectors. Top losers were Qatar Islamic Bank and Vodafone Qatar falling 3.7% each. Regional indices were also mostly down with Dubai falling 6.0% and Abu Dhabi down 2.3%. Earnings results were released for several Saudi companies with revenue and profits varying, while ratings actions saw Kuwait Finance House and Oman Insurance receive unchanged ratings.
The QE index in Qatar rose marginally to close at 12,970.8, led by gains in the telecom and industrial indices. Ooredoo and Qatar Islamic Insurance Co. were the top gainers, while Salam International Investment Co. and Al Ahli Bank declined the most. Regional markets were mixed with Saudi Arabia and Kuwait gaining slightly while Dubai, Abu Dhabi, Oman, and Bahrain fell. Trading volume on the QE fell 26.8% compared to the previous day.
QNBFS Daily Market Report October 15, 2020QNB Group
The QE Index in Qatar declined 0.3% led by losses in the Insurance and Banks & Financial Services indices. Dlala Brokerage & Investment Holding Company and Qatar Insurance Company were the top losers. Trading volume fell 27.7% compared to the previous day. In other GCC markets, the indices in Saudi Arabia and Kuwait fell slightly while Abu Dhabi and Oman were up marginally. Earnings reports from several Omani companies were mixed with some reporting declines in revenue but growth in net profit.
The QE Index declined 0.6% to close at 8,479.2. Losses were led by the Banks & Financial Services and Transportation indices, falling 2.0% and 1.2%, respectively.
The document provides an overview of stock market performance and news in Qatar and other GCC countries on May 3, 2017. The key points are:
- Qatar's stock market index declined 0.4% as the telecom and transportation sectors fell. Top losers were Al Khaleej Takaful Group and Qatar Industrial Manufacturing Co.
- Elsewhere in the GCC, stock markets in Saudi Arabia and Dubai declined while those in Abu Dhabi, Kuwait and Oman rose.
- Earnings reports from companies in Saudi Arabia, Bahrain and other GCC countries showed mixed revenue and profit results for 1Q2017.
The QE index in Qatar declined 2.4% led by losses in the telecom and real estate indices. Top losers were Qatari Investors Group falling 9.9% and Qatar Cinema & Film Distri falling 8.2%. Regional markets were mixed with Abu Dhabi up 0.5% and Dubai down 0.7%. Economic data from major countries showed initial US jobless claims were 312k, French GDP grew 0.7% YoY in Q1, and UK GDP expanded 3% YoY in Q1.
The QE index in Qatar declined 0.2% led by losses in the transportation and telecom indices. Qatar Gas Transport and Qatar Electricity & Water were the top losers. In other GCC markets, indices declined in Saudi Arabia by 0.3%, Dubai by 1.3%, and Abu Dhabi by 0.5%. Volume on the Qatar exchange rose 20.4% but remained below the 30-day average. International news discussed the US debt ceiling deadline and IMF warnings on exiting unconventional monetary policies.
The document provides an intra-day market summary and commentary for Qatar and other GCC exchanges. It summarizes that the QE index in Qatar rose 1.3% led by gains in the real estate and industrial indices. Top gainers included Doha Insurance Co. and Gulf International Services. It also provides company earnings results and global economic data updates.
QNBFS Daily Market Report November 03, 2019QNB Group
The QE Index declined 0.9% to close at 10,189.0. Losses were led by the Industrials and Banks & Financial Services indices, falling 1.2% and 1.0%, respectively.
The QE Index in Qatar declined 0.8% led by losses in the Transportation and Industrials indices. Baladna and Qatar Navigation were the top losers falling 7.0% and 3.1% respectively. Mannai Corporation was up 10.0% and Ahli Bank was up 9.1%. Trading volume on the QSE fell 53.6% compared to the previous day. Earnings releases are expected on April 6th from ERES and on March 24th from MRDS. Ooredoo, Mastercard and QNB launched virtual and contactless prepaid cards in Qatar in line with the Qatar National Vision 2030. Coface expects Qatar's economy to rebound in 2021, driven by
The QE index in Qatar declined 0.6% led by losses in the transportation and banking indices. Ahli Bank and Dlala Brokerage were the top losers falling 3.6% and 2.3% respectively, while Ezdan Holding rose 7.8% and Aamal Co gained 3.9%. Trading volume fell 5.5% from the previous day but was lower than the 30-day average. In other GCC markets, Saudi Arabia's index rose marginally while Dubai and Abu Dhabi fell.
The QSE Index declined 1.2% led by losses in the Telecom and Real Estate indices. Dlala Brokerage and Zad Holding were the top losers falling 3.8% and 2.8% respectively. Regional markets were mixed with Saudi Arabia and Kuwait rising slightly while Dubai and Abu Dhabi fell. QNB Group reported a 10.2% rise in 1H2015 net profit driven by growth in net interest and fee income.
QNBFS Daily Market Report October 29, 2019QNB Group
The QE Index in Qatar declined 0.8% led by losses in the Insurance and Banks & Financial Services indices. Qatar General Insurance & Reinsurance Company and Mannai Corporation were the top losers falling 10.0% and 4.2% respectively. Most other GCC indices also declined except for Oman which gained 0.5%. Earnings releases from companies in Saudi Arabia showed declines in revenue and profits year-over-year for many except a few such as Saudi Cement Co.
The QE Index in Qatar declined slightly, led by losses in the telecom and real estate sectors. Top losers were Mannai Corporation and Alijarah Holding. Regional markets were mixed, with Saudi Arabia and Oman gaining slightly while Bahrain declined marginally. Earnings reports from companies in Qatar, Saudi Arabia, and Oman were reported, with some beating estimates and others missing targets. Trading activity in Qatar fell compared to the previous day and 30-day average.
The QSE Index declined slightly, led by losses in the consumer goods and real estate sectors. Gulf International Services and Dlala Brokerage were the top losers. The indexes of other GCC countries also declined, with losses in sectors like transportation, real estate, and banks. Earnings reports were mixed, with some companies reporting declines in revenue and profits and others reporting growth. Economic data from major countries showed some weakness in areas like industrial production and employment.
The QE index in Qatar rose 1.8% led by gains in the banking and industrial indices. Vodafone Qatar and Mesaieed Petrochem were the top gainers rising 7.9% and 6.4% respectively, while Zad Holding fell 2.5%. Trading volume on the QE index increased 16% compared to the previous day. Regional indices were mixed with Saudi Arabia and Abu Dhabi rising marginally while Dubai and Bahrain declined. Earnings results were reported from companies in the UAE, Oman, and Bahrain. Global economic data showed mixed results with US retail sales and industrial production missing estimates.
The QSE Index in Qatar rose 0.5% led by gains in the real estate and insurance indices. Islamic Holding Group and Doha Insurance Co. were the top gainers rising 3.3% and 3.0% respectively, while Qatar Cinema & Film Distribution Co. fell 7.4%. Regional markets were mixed with Saudi Arabia and Oman rising while Abu Dhabi and Kuwait fell.
The QE index in Qatar rose 0.6% led by gains in the transportation and telecom indices. Dlala Brokerage and Qatar General Insurance were the top gainers rising 7.6% and 4.6% respectively, while Zad Holding fell 2.7%. Regional markets were also up with Saudi Arabia and Dubai rising 0.1% and 1.9% respectively. Trading volume on the QE rose 114.2% compared to the previous day.
The QSE Index in Qatar declined slightly, led by losses in the consumer goods and transportation sectors. Top losers were Widam Food Co. and Gulf International Services. In other GCC markets, Saudi Arabia and Dubai declined while Abu Dhabi and Kuwait rose. Trading volume on the QSE fell compared to previous days. Earnings news included a loss reported by Dubai Parks and Resorts, while economic data showed declines in French and German industrial production but gains in UK trade balance and Chinese CPI.
The QE index in Qatar rose 0.8% led by gains in the Transportation and Banking & Financial Services indices. Qatari Investors Group and Gulf International Services were the top gainers rising 3.6% and 3.1% respectively, while Qatar Industrial Manufacturing Co. fell 2.3%. Regional indices were mixed with Abu Dhabi and Oman rising while Saudi Arabia fell. Volume on the QE exchange rose 12.6% from the previous day.
QNBFS Daily Market Report October 14, 2020QNB Group
The QE Index declined marginally to close at 10,056.9. Losses were led by the Industrials and Consumer Goods & Serv. indices, falling 0.6% and 0.5%, respectively.
The QE Index in Qatar rose 0.5% led by gains in the Banks and Insurance indices. QNB Group and Qatar Islamic Bank were the top gainers rising 1.9% and 1.4% respectively, while Qatar Cinema & Film Distribution fell 5.1%. Trading volume fell 42.6% from the previous day. In Qatar, construction of the main road in the Industrial Area is expected to be completed by December, reducing traffic congestion, and Qatar's contract awards may reach $30 billion in 2014 as major contracts are due in the fourth quarter.
The QE index in Qatar rose 1.3% led by gains in the telecom and insurance indices. Salam International Investment Co. and Ooredoo were the top gainers rising 5.3% and 3.8% respectively, while Qatar Cinema & Film Distribution Co. fell 4.9%. Trading volume fell 14.9% compared to the 30-day moving average. In company news, Gulf International Services announced a QR1.6 billion 5-year contract extension for onshore rigs in Qatar, raising its estimates and price target.
The QE index in Qatar rose 1.3% led by gains in the Industrials and Banks & Financial Services indices. Top gainers were Qatar Gen. Ins. and Reins. Co. and Qatar Cinema & Film Distr. Co., rising 4.7% and 3.9% respectively. Regional indices were mixed with Abu Dhabi and Qatar rising while Saudi Arabia, Dubai, Kuwait, Oman and Bahrain declined. Earnings results were released for companies in Abu Dhabi, Dubai and Bahrain. Global economic data included GDP and other figures from the US, EU and other countries.
The QE Index in Qatar declined 0.5% due to losses in the Industrials and Insurance indices. Trading volume rose 53.9% while the number of transactions increased 113.6%. Qatar Cinema & Film Distribution and Investment Holding Group were the top losers, falling 8.1% and 3.6% respectively. Mannai Corporation and Dlala Brokerage & Inv. Holding Co. gained 10% and 9.1% respectively. Chinese GDP grew 4.8% YoY in Q1 2022, below estimates.
The QE index in Qatar declined slightly, led by losses in the industrial and banking sectors. Top losers were Salam International Investment Co. and Qatar Oman Investment Co. Meanwhile, Mazaya Qatar Real Estate Development and Qatar Cinema & Film Distribution Co. were among the top gainers. Trading activity in Qatar rose compared to the previous period. Regional markets in Saudi Arabia and Oman rose, while those in Dubai, Abu Dhabi and Kuwait fell. Earnings news and corporate developments were also reported from companies in Qatar, Dubai, Kuwait and Oman.
The QE Index in Qatar rose 0.5% led by gains in the telecom and real estate indices. Ooredoo and Gulf International Services were the top gainers rising 3.0% and 2.6% respectively. Regional markets were also up with Saudi Arabia leading gains rising 2.3% while Oman declined 1.6%. Earnings reports saw profit increases at Jarir Marketing and SHUAA Capital while declines at United Power. French and German economic data was mixed with wholesale prices declining in Germany.
QNBFS Daily Market Report October 28, 2021QNB Group
The QE Index declined 0.3% to close at 11,665.7. Losses were led by the Telecoms and Consumer Goods & Services indices, falling 1.7% and 0.6%, respectively.
The QE index in Qatar declined 0.5% led by losses in the transportation and telecom sectors. Qatar Navigation and Gulf Warehousing Co. were the top losers. In other markets, indexes in Dubai and Abu Dhabi rose while indexes in Kuwait and Oman declined marginally. Trading activity on the Qatar exchange fell significantly compared to the previous day and 30-day average.
The QE index in Qatar rose 0.3% led by gains in the banking and insurance indices. Qatar General Insurance and QNB Group were the top gainers rising 8.2% and 2.9% respectively, while Dlala Brokering declined 7.4%. Regional markets were mixed with Saudi Arabia and Dubai rising while Kuwait and Oman fell. Earnings news saw National General Insurance report a 150.6% rise in net profit for 2Q2013.
QNBFS Daily Market Report December 24, 2023QNB Group
The QE Index rose 0.8% to close at 10,285.3. Gains were led by the Transportation and Banks & Financial Services indices, gaining 1.4% and 1.2%, respectively.
QNBFS Daily Technical Trader Qatar - October 10, 2023 التحليل الفني اليومي لب...QNB Group
The document provides a daily technical analysis of the QE Index and QATAR INSURANCE CO stock. For the QE Index, it notes the index remains in a downtrend but is approaching a support level of 9,700, where long positions could be taken. It provides expected resistance and support levels. For QATAR INSURANCE CO stock, it notes the stock has not fallen as much as others and the uptrend remains intact above moving averages, though liquidity is low. It provides expected price targets and resistance/support levels for the stock. Definitions of technical analysis terms like candlesticks, support, and simple moving average are also included.
QNBFS Daily Market Report October 04, 2023QNB Group
The QE Index rose 0.2% to close at 10,273.3. Gains were led by the Transportation and Consumer Goods & Services indices, gaining 1.7% and 0.1%, respectively.
QNBFS Daily Technical Trader Qatar - October 04, 2023 التحليل الفني اليومي لب...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Technical Trader Qatar - September 28, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Market Report September 24, 2023QNB Group
- The QE Index in Qatar rose 0.3% led by gains in the Transportation and Industrials indices. Qatar Navigation and Al Khaleej Takaful Insurance were the top gainers.
- Regional markets were mixed with Saudi Arabia down 1% but Abu Dhabi up marginally. Economic data from the US and Europe was mixed.
- In Qatar news, QR500mn in bills were sold at a yield of 5.755% and Gulf International Services approved final merger agreements. Ooredoo also signed an MoU to support businesses in Qatar free zones.
QNBFS Daily Technical Trader Qatar - September 24, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Technical Trader Qatar - September 19, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Market Report September 17, 2023QNB Group
The QE Index declined 0.5% to close at 10,319.3. Losses were led by the Industrials and Consumer Goods & Services indices, falling 1.4% and 1.1%, respectively.
QNBFS Daily Technical Trader Qatar - September 07, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to
sustain its breakout above the
double-bottom formation’s
neckline and continued with
its decline into the
formation’s territory.
QNBFS Daily Technical Trader Qatar - September 07, 2023 التحليل الفني اليومي ...
13 November Daily market report
1. Page 1 of 7
QSE Intra-Day Movement
Qatar Commentary
The QSE Index rose marginally to close at 13,729.8. Gains were led by the Real
Estate and Insurance indices, gaining 0.8% and 0.7%, respectively. Top gainers
were Qatar National Cement Co. and Doha Insurance Co., rising 2.7% and
2.1%, respectively. Among the top losers, Zad Holding Co. fell 1.8%, while
Salam International Investment Co. declined 1.2%.
GCC Commentary
Saudi Arabia: The TASI Index fell 0.9% to close at 9,681.7. Losses were led
by the Insurance and Banks & Financial Serv. indices, falling 1.8% and 1.7%,
respectively. National Agr. Mar. fell 5.7%, while Bupa Arabia was down 5.6%.
Dubai: The DFM Index gained 1.7% to close at 4,657.3. The Transportation
index rose 2.8%, while the Real Estate & Const. index was up 2.5%. Emaar
Properties Co. gained 4.8%, while Air Arabia Co. was up 4.2%.
Abu Dhabi: The ADX benchmark index rose 0.3% to close at 4,953.4. The
Investment & Fin. Ser. index gained 4.2%, while the Real Estate index was up
0.5%. Waha Capital rose 4.2%, while Union National Bank was up 4.0%.
Kuwait: The KSE Index fell marginally to close at 7,201.3. The Oil & Gas
index declined 1.4%, while the Health Care index was down 0.9%. Al-Deera
Holding Co. fell 11.1%, while Al Qurain Holding Co. was down 8.2%.
Oman: The MSM Index rose 0.8% to close at 7,013.5. Gains were led by the
Financial and Services indices, rising 1.1% and 1.0%, respectively. Al Jazeera
Services gained 9.3%, while Muscat National Holding was up 6.7%.
Bahrain: The BHB Index declined 0.5% to close at 1,430.3. The Industrial
index was down 4.5%, while the Services index was down 1.8%. Aluminium
Bahrain declined 4.6%, while Bahrain Telecommunication Co. was down 3.5%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar National Cement Co. 135.50 2.7 37.6 13.9
Doha Insurance Co. 35.65 2.1 24.4 42.6
Al Khaleej Takaful Group 49.90 1.6 84.8 77.7
Islamic Holding Group 189.90 1.6 217.4 312.8
Barwa Real Estate Co. 50.70 1.2 1,253.8 70.1
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Barwa Real Estate Co. 50.70 1.2 1,253.8 70.1
Gulf Warehousing Co. 62.00 0.8 1,198.2 49.4
Mazaya Qatar Real Estate Dev. 24.20 (1.0) 1,029.4 116.5
Ezdan Holding Group 19.20 0.7 1,028.5 12.9
Vodafone Qatar 19.11 0.6 841.4 78.4
Market Indicators 13 Nov 14 12 Nov 14 %Chg.
Value Traded (QR mn) 666.4 667.8 (0.2)
Exch. Market Cap. (QR mn) 742,415.5 741,990.4 0.1
Volume (mn) 11.1 11.4 (2.4)
Number of Transactions 6,363 6,412 (0.8)
Companies Traded 43 42 2.4
Market Breadth 25:12 20:18 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 20,477.84 0.0 1.0 38.1 N/A
All Share Index 3,477.16 0.1 1.2 34.4 16.5
Banks 3,429.56 (0.1) 1.3 40.3 15.9
Industrials 4,556.26 (0.2) 0.5 30.2 15.9
Transportation 2,451.71 0.4 2.9 31.9 14.4
Real Estate 2,798.08 0.8 2.0 43.3 24.5
Insurance 4,069.32 0.7 (0.4) 74.2 12.5
Telecoms 1,503.28 0.1 (0.4) 3.4 20.8
Consumer 7,467.99 (0.0) 2.7 25.6 30.0
Al Rayan Islamic Index 4,639.36 0.3 2.4 52.8 19.3
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Kingdom Holding Co. Saudi Arabia 20.40 10.0 1,805.0 (16.7)
Emaar Properties Dubai 11.00 4.8 34,935.5 58.4
Air Arabia Dubai 1.48 4.2 59,469.0 (4.5)
Union National Bank Abu Dhabi 6.55 4.0 2,351.9 17.2
Hsbc Bank Oman Oman 0.16 3.9 272.3 (9.7)
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Aluminium Bahrain Bahrain 0.52 (4.6) 11.7 (1.9)
IFA Hotels & Resorts. Kuwait 0.21 (3.7) 22.6 (27.0)
Bahrain Telecom Co. Bahrain 0.34 (3.5) 31.2 17.6
Alinma Bank Saudi Arabia 23.71 (3.2) 39,581.1 59.1
Saudi Dairy & Food. Saudi Arabia 118.15 (3.1) 15.4 37.0
Source: Bloomberg (
#
in Local Currency) (
##
GCC Top gainers/losers derived from the Bloomberg GCC
200 Index comprising of the top 200 regional equities based on market capitalization and liquidity)
QSE Top Losers Close* 1D% Vol. ‘000 YTD%
Zad Holding Co. 92.90 (1.8) 18.5 33.7
Salam International Investment Co 17.99 (1.2) 426.4 38.3
Commercial Bank of Qatar 73.00 (1.1) 139.3 23.7
Mazaya Qatar Real Estate Dev. 24.20 (1.0) 1,029.4 116.5
Qatar General Ins. and Reins. Co. 46.00 (0.9) 13.1 15.2
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Gulf Warehousing Co. 62.00 0.8 75,209.5 49.4
QNB Group 225.00 0.3 73,006.2 30.8
Barwa Real Estate Co. 50.70 1.2 62,893.4 70.1
Gulf International Services 125.00 (0.8) 45,392.8 156.1
Islamic Holding Group 189.90 1.6 41,090.0 312.8
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* 13,729.78 0.0 1.0 1.7 32.3 183.00 203,867.3 17.7 2.2 3.4
Dubai 4,657.29 1.7 5.7 2.5 38.2 281.08 102,804.4 14.6 1.7 1.9
Abu Dhabi 4,953.36 0.3 3.4 1.9 15.5 153.04 133,993.7 13.4 1.7 3.4
Saudi Arabia 9,681.66 (0.9) 0.3 (3.5) 13.4 1,580.27 550,334.0 17.5 2.2 2.9
Kuwait 7,201.26 (0.0) 0.9 (2.2) (4.6) 85.01 107,584.5 18.2 1.2 3.7
Oman 7,013.45 0.8 1.3 0.6 2.6 21.94 26,141.4 9.8 1.5 4.0
Bahrain 1,430.31 (0.5) (0.7) (1.0) 14.5 0.50 53,849.2 10.4 0.9 4.8
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)
13,700
13,720
13,740
13,760
13,780
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00
2. Page 2 of 7
Qatar Market Commentary
The QSE Index rose marginally to close at 13,729.8. The Real
Estate and Insurance indices led the gains. The index rose on
the back of buying support from non-Qatari shareholders despite
selling pressure from Qatari shareholders.
Qatar National Cement Co. and Doha Insurance Co. were the
top gainers, rising 2.7% and 2.1%, respectively. Among the top
losers, Zad Holding Co. fell 1.8%, while Salam International
Investment Co. declined 1.2%.
Volume of shares traded on Thursday fell by 2.4% to 11.1mn
from 11.4mn on Wednesday. Further, as compared to the 30-day
moving average of 13.3mn, volume for the day was 16.8% lower.
Barwa Real Estate Co. and Gulf Warehousing Co. were the most
active stocks, contributing 11.3% and 10.8% to the total volume
respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Ratings, Earnings and Global Economic Data
Ratings Updates
Company Agency Market Type* Old Rating New Rating Rating Change Outlook Outlook Change
Kuwait
Investment Co.
(KIC)
Moody’s Kuwait LT IR Baa3 Ba2 – –
Source: News reports (* LT – Long Term, ST – Short Term, FSR- Financial Strength Rating, FCR – Foreign Currency Rating, LCR – Local Currency Rating, IDR – Issuer Default Rating, SR – Support Rating, LC
– Local Currency, IR – Issuer Rating)
Earnings Releases
Company Market Currency
Revenue
(mn)3Q2014
% Change
YoY
Operating Profit
(mn) 3Q2014
% Change
YoY
Net Profit (mn)
3Q2014
% Change
YoY
Jabal Omar Development
Co. (JODC)
Saudi Arabia SR
– –
449.8 NA 431.0 NA
Dubai Islamic Insurance &
Reinsurance Co. (Aman)
Dubai AED 36.4 -2.6% 0.0 0.0% 1.9 NA
Oman Insurance Co. (OIC) Dubai AED 347.4 -7.4% 18.2 -41.7% 23.8 -46.8%
Gulf General Investments
Co. (GGICO)
Dubai AED 379.3 -16.4% – – 14.3 777.4%
Al Buhaira National
Insurance Co. (ABNIC)
Abu Dhabi AED 94.2 74.8% 13.5 55.4% 20.2 47.8%
Fujairah Building Industries
(FBI)
Abu Dhabi AED 63.8 10.6% 0.0 NA -0.4 NA
Al Fujairah National
Insurance Co. (AFNIC)
Abu Dhabi AED 29.2 0.2% 7.5 776.2% 11.3 912.3%
Sudatel Telecommunication
Group Company Limited
(STG)
Abu Dhabi USD 105.1 -7.0% – – 1.1 NA
Aldar Properties (Aldar) Abu Dhabi AED 1,370.0 NA – – 584.0 41.4%
Ras Al Khaimah Ceramics
Co. (RAKCEC)
Abu Dhabi AED 0.0 NA – – 57.4 NA
Public Warehousing Co.
(Agility)
Kuwait KD 337.1 3.2% – – 13.0 7.5%
Global Financial Investments
Holding Co. (GFI) *
Oman OMR 0.2 -91.3% – – -0.3 NA
United Gulf Investment
Corporation (UGIC)
Bahrain BHD 9.0 36.7% – – 0.6 -18.3%
The Bahrain Ship Repairing
and Engineering Co.
(BASREC)
Bahrain BHD 1.3 2.4% – – 0.4 -6.2%
Nass Corporation (NASS) Bahrain BHD 20.0 1.9% – – 0.7 -39.2%
Securities and Investment
Co. (SICO)
Bahrain BHD 3.5 27.3% – – 1.8 30.3%
Al Ahlia Insurance Co. (Al
Ahlia)
Bahrain BHD 1.2 -0.7% 0.6 23.9% 0.6 43.8%
Source: Company data, DFM, ADX, MSM (* 9M2014 results)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
11/13 US Department of Labor Initial Jobless Claims 8-November 290K 280K 278K
11/13 US Department of Labor Continuing Claims 1-November 2,392K 2,346K 2,356K
11/13 US Bloomberg Bloomberg Consumer Comfort 9-November 38.2 – 38.1
11/13 US US Treasury 30Y High Yield Rate 13-November 3.09% – 3.07%
Overall Activity Buy %* Sell %* Net (QR)
Qatari 61.80% 65.55% (24,984,335.21)
Non-Qatari 38.20% 34.45% 24,984,335.21
3. Page 3 of 7
11/13 US Bureau of Labor Stat. Import Price Index MoM October -1.30% -1.50% -0.60%
11/13 US Bureau of Labor Stat. Import Price Index YoY October -1.80% -1.60% -1.10%
11/13 EC Eurostat GDP SA QoQ 3Q2014 0.20% 0.10% 0.10%
11/13 EC Eurostat GDP SA YoY 3Q2014 0.80% 0.70% 0.80%
11/13 France Banque De France Current Account Balance September -1.2B – -4.5B
11/13
France
INSEE National
Statistics Offi
CPI EU Harmonized MoM October 0.00% -0.10% -0.40%
11/13 France INSEE CPI EU Harmonized YoY October 0.50% 0.40% 0.40%
11/13 France INSEE CPI MoM October 0.00% -0.10% -0.40%
11/13 France INSEE CPI YoY October 0.50% 0.40% 0.30%
11/13 France INSEE GDP QoQ 3Q2014 0.30% 0.10% -0.10%
11/13 France INSEE GDP YoY 3Q2014 0.40% 0.40% 0.00%
11/13 Germany Federal Statistical Off GDP SA QoQ 3Q2014 0.10% 0.10% -0.10%
11/13 Germany Federal Statistical Off GDP WDA YoY 3Q2014 1.20% 1.10% 1.40%
11/13 Germany Federal Statistical Off GDP NSA YoY 3Q2014 1.20% 1.00% 1.00%
11/13 UK Office for National Statist Construction Output SA MoM September 1.80% 4.00% -3.00%
11/13 UK Office for National Statist Construction Output SA YoY September 3.50% 4.30% 0.80%
11/13 Spain INE CPI EU Harmonised MoM October 0.10% 0.10% 1.00%
11/13 Spain INE CPI Core MoM October 0.80% – 0.00%
11/13 Spain INE CPI Core YoY October -0.10% -0.10% -0.10%
11/13 Spain INE CPI MoM October 0.50% 0.50% 0.20%
11/13 Italy Banca D'Italia 3 Year Bond Allotment 13-November 107.2 – 107.1
11/13 Italy Banca D'Italia 3 Year Bond Bid/Cover Ratio 13-November 2.5B – 3.5B
11/13 Italy Banca D'Italia 3 Year Bond Average Yield 13-November 1.5 – 1.5
11/13 Italy ISTAT GDP WDA QoQ 3Q2014 0.77% – 0.70%
11/13 Italy ISTAT GDP WDA YoY 3Q2014 -0.10% -0.10% -0.20%
11/13 Italy Banca D'Italia General Government Debt September -0.40% -0.40% -0.30%
11/13 China People's Bank of China Money Supply M0 YoY October 2,134.0B – 2,148.4B
11/14 China People's Bank of China Money Supply M1 YoY October 3.80% 4.20% 4.20%
11/14 China People's Bank of China Money Supply M2 YoY October 3.20% 5.00% 4.80%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
Ashghal to start QR24.3bn projects in three months –
According to the Annual State Achievement Report, the Public
Works Authority (Ashghal) will execute infrastructure projects
involving over QR24.3bn over the next three months. Road
projects worth over QR12.4bn, sewage projects valued at
QR9.89bn and building projects at a cost of about QR2bn will be
implemented. The total cost of projects awarded during 2013-14
exceeded QR38bn, which includes road projects worth over
QR33bn, sewage projects (QR276.5mn) and building projects
(QR4.2bn). (Zawya)
BRES appoints AEB as Motor City project consultant –
Barwa Real Estate Group (BRES) has officially appointed Arab
Engineering Bureau (AEB) – a local consultancy – for the
delivery of the company’s newest development, “Motor City”. As
per the agreement, AEB will be providing the QR49mn Motor
City project with pre-concept master plan, infrastructure and
architectural design, along with cost management and tender
documentation. (Gulf-Times.com)
Qatari Diar opens $1.5bn City Center DC project – Qatari
Diar Real Estate Investment Company (Qatari Diar) has
announced the opening of its prestigious $1.5bn “City Center
DC” project in Washington DC. This project allowed Qatari Diar
to enter into new projects in the US that includes the
construction of an iconic five-star hotel that would be
implemented in 2015. The City Center DC is Qatari Diar’s first
significant investment in the US property market. Spanning over
148,000 square meters, the luxury project is located in
downtown Washington DC and is the largest such development
under way in the US. The first phase comprises six buildings
containing 458 rental apartments and 216 condominiums, as
well as office and retail space. The mixed-use luxury complex is
connected to a large parking space and a public park. Qatari
Diar is a wholly-owned subsidiary of the Qatar Investment
Authority. (Peninsula Qatar)
Qatari firms win 53% of awarded contracts in New Port
Project – Qatar’s New Port Project, which is being built at a cost
of QR27bn, has awarded contracts worth QR15.4bn so far.
Local companies have won contracts worth QR8.16bn (53%) of
the total awarded project works. The New Port is expected to be
completed by 2020. The project is considered to be one of the
largest infrastructure projects, which covers a total land area of
26 kilometers. The first phase is expected to be completed in
2016, with a capacity of receiving 2mn containers. After the two
remaining phases are finished, the port’s capacity will rise to
6mn containers. (Peninsula Qatar)
QTA opens representative offices in Jeddah and Riyadh –
The Qatar Tourism Authority (QTA) has opened its
representative offices in Riyadh and Jeddah in Saudi Arabia, a
step aimed at increasing tourism activities in the GCC market.
These offices will cater to needs of customers, tour operators,
travel agencies and event organizers based in Bahrain, Kuwait,
Oman and the UAE. QTA’s Executive Director of Marketing &
Promotions, Rashed Al Qurese, said that the GCC region is their
most important market. Accounting for some 40% of all arrivals,
the region is the largest source of visitors to Qatar, while Saudi
Arabia alone contributes more than half of the annual inbound
GCC tourist arrivals. (Peninsula Qatar)
4. Page 4 of 7
Wataniya Palestine appoints new CEO – Ooredoo (ORDS)
announced that Wataniya Palestine has appointed Durgham
Maraee as Chief Executive following the resignation of his
predecessor Fayez Husseini. Maraee was formerly the Chief
Investment Officer of the Palestine Investment Fund. ORDS
holds an effective stake of 44.6% in Wataniya Palestine.
(Reuters)
International
US consumer sentiment rises; Fed inflation optimism defied
by lower consumer outlook – Consumer confidence in the US
rose more than forecast in November, reaching a seven-year
high and indicating Americans will be in the mood to step up
their holiday spending. The Thomson Reuters/University of
Michigan Preliminary Sentiment Index increased to 89.4, the
strongest since July 2007, rising from a final reading of 86.9 in
October. A stronger labor market, cheaper fuel costs, and near-
record stock prices are brightening consumer spirits, as the
busiest time of the year for retailers gets under way. Meanwhile,
a recent survey showed Americans lowered their outlook for
increases in consumer prices, posing a challenge to Federal
Reserve officials who seek assurances that inflation
expectations are stable. According to preliminary results of a
Thomson Reuters/University of Michigan survey, consumers
expect inflation averaging 2.6% annually 5-10 years from now,
down from 2.8% predicted in October. Fed officials have pointed
to consumer surveys as evidence that price increases, which
have lagged behind the central bank’s 2% target for more than
two years, will start to move toward their goal. (Bloomberg)
Eurozone grows faster than expected in 3Q2014; Weak
growth threatens Eurozone sovereign ratings – Eurostat, the
European Union's statistics office said economic growth in the
Eurozone was stronger than expected in 3Q2014, as France
beat market expectations and Germany steered clear of a
recession. A preliminary estimate by Eurostat showed that the
economy of the 18 Eurozone countries expanded 0.2% QoQ in
3Q2014 after a 0.1% rise in 2Q2014. Eurozone growth was
0.8% YoY in 3Q2014, the same as in 2Q2014, against market
expectations of a 0.7% rise. Eurostat data showed Germany
grew 0.1%, in line with expectations but confounding some
economists who had feared another quarter of negative growth.
France grew 0.3% against market expectations of a 0.2% gain.
Meanwhile, weak growth and low inflation have put some major
Eurozone sovereign credit ratings on shaky ground, threatening
the region's recovery from years of crisis. Fitch's head of
sovereign ratings James McCormack said at the start of the year
Fitch had thought that the trajectory of lower ratings had come to
a halt, but the economic growth outlook has deteriorated since
then. The other major agencies, Moody's and Standard &
Poor's, take a similar view. Two of the Eurozone’s biggest
economies, Italy and France, are at risk of further downgrades.
All the rating agencies stated their current ratings do not take
account of a possible Eurozone bloc-wide slide into deflation.
Prices grew just 0.4% in October. (Reuters)
Greece exits recession; Italy’s slump enters fourth year –
Greece ended its worst recession in more than a half-century,
emerging from two bailouts and financial-market turmoil that
almost pushed the country out of the euro. According to
Eurostat, Greece’s GDP increased 0.7% in 3Q2014, while
Greek authorities stated the economy grew 1.7% YoY on a non-
seasonally adjusted basis. Greece’s six-year recession was
deepened by budget cuts tied to its rescue, which has left Prime
Minister Antonis Samaras struggling in political polls. The
government’s reform efforts got the public finances sufficiently
under control to allow Greece to sell bonds in 2014 for the first
time in four years, and Samaras now wants to push on and exit
the aid program. Meanwhile, Italy’s economy shrank in 3Q2014
pushing the nation into a fourth year of a slump that has
complicated Prime Minister Matteo Renzi’s efforts to revive
growth and keep public finances in check. The national statistics
institute Istat said GDP fell 0.1% QoQ. Output was down by
0.4% YoY. GDP in Italy has fallen in all but two of the last 13
quarters as the jobless rate rose to the highest on record. Renzi
is relying on estimated 0.6% growth in 2015 to rein in a public
debt of more than €2tn and preserve a tax rebate to low-paid
employees. (Bloomberg)
IMF urges Japan to impose second tax hike, welcomes BoJ
easing – The Director of the International Monetary Fund's
(IMF) Regional Office for Asia-Pacific, Odd Per Brekk said
Japan should go ahead with a second sales tax hike in 2015 as
scheduled, given the country's high fiscal deficit. Brekk said IMF
thinks that raising the tax rate to 10% in October 2015 is
necessary to bring down the fiscal deficit in a steady,
sustainable manner due to Japan's high debt-to-GDP ratio. It
was the first time an IMF official has stepped into the tax hike
debate since speculation started that Abe will postpone next
year's tax increase, after witnessing the first tax hike to 8% in
April hit the fragile economic recovery hard. Brekk said that
Japan should consider deploying temporary, targeted fiscal
stimulus to ease the pain from the tax hike, if economic growth
undershoots expectations. Regarding the Bank of Japan’s (BoJ)
surprise expansion of monetary stimulus in October, Brekk said
it was an appropriate step that needs to be accompanied by
more forceful structural reforms. (Reuters)
China slowdown deepens as targeted stimulus fails;
economic growth to be balanced – Credit growth in China
weakened in October, adding to signs that the economy has
slowed further in 4Q2014 and testing policy makers’
determination to avoid broader stimulus measures. The People’s
Bank of China said aggregate financing in October stood at
CNY662.7bn, down from CNY1.05tn in September. Recent
reports showed deceleration in industrial output and fixed-asset
investment as well. The evidence underscores concern that the
global economic outlook is deteriorating except for the US. Now
the question for Chinese Premier Li Keqiang is whether to stick
to targeted liquidity injections or embrace nationwide monetary
easing that reignites the risk of a jump in debt. The central bank
has added liquidity while refraining from broad-based interest
rate or reserve requirement ratio cuts. China’s benchmark
money-market rate fell for a second week on speculation it will
conduct more targeted fund injections. Meanwhile, Chinese
President Xi Jinping said the country’s economy will maintain
sustainable and balanced growth by providing more demand
and investment opportunities for the global economy, as it
undergoes structural reforms that foster growth opportunities.
China's economy grew in 3Q2014 at its slowest pace since the
global financial crisis, sparking concern that the world's second
largest economy is faltering. (Bloomberg, Reuters)
Regional
KKR, Fajr bidding for Zara’s Middle East operator –
According to sources, KKR & Company, a US-based private
equity firm is among bidders for a 25% stake in Azadea Group,
which runs the Zara clothing and Virgin Megastore chains in the
Middle East. Fajr Capital Ltd, backed by investors including
Malaysian sovereign wealth fund Khazanah Nasional and
Dubai-based Majid Al Futtaim Holding, are also bidding for the
stake worth $300-400mn. (Bloomberg)
ICD, IBF sign $10mn Murabaha financing deal – The Islamic
Corporation for the Development of the Private Sector (ICD),
and the Indonesia-based PT Intan Baruprana Finance (IBF)
5. Page 5 of 7
signed Murabaha financing agreements worth $10mn in a
landmark partnership marking the first offshore financing
arrangement for IBF. ICD is the private sector arm of the Islamic
Development Bank Group, while IBF is a capital goods financing
firm. (GulfBase.com)
MoCI: Saudi women’s bank deposits cross SR375bn –
According to data by the Ministry of Commerce & Industry
(MoCI), disposable cash belonging to Saudi women in
commercial banks has exceeded SR375bn. However, women
only account for 7.3% of commercial registrations issued by the
ministry. According to the statistics, about 5.1% of manpower in
the labor market is women, who account for about 49.6% of the
total population. Women represent 2.9% of the Kingdom’s
workforce and their investments account for only 6% of total
investments in the country. (GulfBase.com)
OFC acquires 51% stake in GUFC – Olayan Financing
Company (OFC), Jadwa Investment and other shareholders of
Gulf Union Foods Company (GUFC) have completed the sale of
51% stake in GUFC to OFC. As part of the transaction, Jadwa
Investment has sold the entire 30% in GUFC owned by its Food
& Beverage Opportunity Fund. (GulfBase.com)
Alkhabeer Capital: Kingdom outpaces global growth in last
five years – According to a report by Alkhabeer Capital, Saudi
Arabia has consistently outpaced global growth at an average of
5.5% for the last five years, a higher growth rate than the MENA
region and the GCC region. The growth is primarily driven by
large infrastructure investments initiated by the government and
the non-oil sector’s contribution. Additionally, the political
stability of the Kingdom, which was largely unaffected by the
Arab Spring, made it a safe haven for international investors
with foreign assets worth $717bn as of 2013. The investment
cycle in Saudi Arabia is on the upturn and many funds seem to
have gained good traction in fund raising. In the six months
through June 2014, Saudi Arabian companies raised $760mn
through share sales. (GulfBase.com)
Saudi Arabia to double natural gas production – Saudi
Arabia’s oil minister, Ali Al-Naimi, said the country plans to
double its natural gas output by 2030, but will keep all of this
production at home to fuel domestic growth. He said that the
Kingdom will use the bonanza to meet its own rising energy
demands, including both power generation and water
desalination, as well as developing its growing mineral industry.
Al-Naimi added that Saudi Arabia currently has no plans to
export its gas or get into the liquefied natural gas business.
(GulfBase.com)
ACWA Power, Abengoa offer lowest bids for Solar plants –
According to sources, ACWA Power International and Spain’s
Abengoa have bid the lowest rate to build two solar plants with a
combined capacity of up to 350 megawatts (MW). Results of
tenders for constructing the two plants near the city of
Ouarzazate are expected in the next few weeks. The plants are
scheduled to start generating power in 2017. Both the plants are
the second phase of the 500MW Ouarzazate project, which is
part of a government plan to produce 2GW of solar power by
2020, equivalent to about 38% of Morocco’s current installed
generation capacity. (GulfBase.com)
Vela vessel transferred to Bahri ownership – The National
Shipping Company of Saudi Arabia (Bahri) announced that
‘Albutain Star’ a VLCC vessel in the Vela fleet, has been
transferred to Bahri's ownership on November 13, 2014 for a
cash consideration of SR323.7mn. The vessel’s name has been
changed to ‘Jaham’. The remaining Vela vessels shall be
transferred to Bahri on a staggered basis by the end of 2014.
(Tadawul)
Ma’aden to launch rights issue on November 18 – The Saudi
Arabian Mining Company (Ma’aden) will start its rights issue on
November 18, 2014, through which 243,478,261 shares will be
offered at SR23 each including the par value. The subscription
will be done in two phases. The first stage will continue until
November 27, 2014. During this stage, registered shareholders
can exercise their rights by subscribing to the new shares. The
second subscription period will start from November 30, 2014 till
December 2, 2014. Meanwhile, the company’s EGM held on
November 13, 2014 approved the increase in capital by 26.3%
from SR9.25bn (925,000,000 shares) to SR11.685bn
(1,168,478,261 shares), through offering rights issue shares
worth SR5.6bn. (Tadawul)
RAKBank plans $500mn bond issue in 2015 – The National
Bank of Ras Al Khaimah’s (RAKBank) CEO, Peter England said
that RAKBank is consider selling a benchmark-sized bond in
2015. This issue is driven by a desire to extend the duration of
its funding rather than the need for capital that affects many
banks in the West. The other reason for reorienting lending is
the rising competition, a trend that is likely to compress net
interest margins. England further said the bank would be
comfortable with a Tier 1 capital ratio in the lower 20s in
percentage terms. RAKBank’s core Tier 1 capital ratio at the end
of 2013 stood at 29%, higher even than the UAE industry
average of 19%. (GulfBase.com)
KEF Holdings to invest AED900mn in India – UAE-based
KEF Holdings has announced the launch of its India operations
with investments of more than AED900mn to be made over the
next five years. KEF Holdings said the investments will be
channeled through its two business verticals, KEF Infra and KEF
Health. Two large projects – KEF Industrial Park – the only
integrated facility for offsite manufacturing for the construction
sector in India and the PMHP Hospital, a 500-bed facility being
built in two phases have already been launched. They are
scheduled for completion by April 2015 and 1Q2016,
respectively. (GulfBase.com)
Al Rawdah to invest AED170mn in new Liwa farm – Emirates
Modern Poultry Company (Al Rawdah) announced that it has
made an investment of AED170mn by acquiring a massive land
plot in Liwa, Abu Dhabi. Al Rawdah’s Vice-Chairman, Abdulla Al
Qubaisi said that the expansion will bring great returns.
(GulfBase.com)
DP World to acquire EZW for $2.6bn – Dubai-based DP World
and its wholly owned subsidiary, DP World FZE, have entered
into an agreement for the proposed acquisition of Economic
Zones World FZE (EZW), its subsidiaries from Port & Free Zone
World FZE for a total cash consideration of $2.6bn. The cash
consideration includes the assumption of net debt at close,
which amounted to $859mn as at June 30, 2014. EZW is a
provider of industrial and logistics infrastructure in Dubai’s Jebel
Ali area, including a commercial and industrial logistics park
adjacent to DP World’s main Jebel Ali port. The company plans
to fund the proposed acquisition from existing cash resources
and existing loan and revolving facilities. (WSJ)
Pullman Dubai DCC gets AED100mn makeover – Pullman,
an international hotel brand of Accor, the global hotel operator,
has made an investment of close to AED100mn at its existing
Deira City Centre (DCC) hotel. Through its owner, Majid Al
Futtaim, the Deira City Centre hotel has seen a complete
transformation within a year and is now ready for re-launching
its refurbished cosmopolitan residences this month.
(GulfBase.com)
DSC: Dubai inflation up 4.38% in October 2014 – According
to data published by Dubai Statistics Centre (DSC), Dubai’s
6. Page 6 of 7
consumer price inflation climbed 4.38% YoY in October 2014
and 0.19% on MoM basis. Prices of beverages & tobacco
posted the highest YoY price increase in October 2014, rising
10.41%, followed by housing & utility (6.67%), which account for
almost 44% of consumer expenses. Consumer prices of other
categories such as education, and restaurants & hotels were up
2.60% and 4.26%, respectively. Similarly, beverages & tobacco
rose 3.82% MoM in October 2014, while that of housing & utility
increased by 0.40%. Dubai’s consumer price inflation climbed to
3.07% during 3Q2014 as compared to 1.02% during 3Q2013.
The IMF has forecasted the UAE’s inflation rate to be at 2.2%
and 2.5% for 2014 and 2015, respectively. During 1H2014, the
annual inflation rate climbed to 2.74%, from 1.6% during the
corresponding period in 2013. (GulfBase.com)
Emirates to resume flights to Erbil in Iraq – Dubai's flagship
carrier, Emirates will resume flights to Iraqi city of Erbil after the
conflict near the city subsided. The airline will restart two weekly
passenger flights from November 16, 2014 and increase the
frequency to four times a week from December 4, 2014.
Meanwhile, the airline hopes to talk to Airbus in the next few
months over possible purchase of A350 planes after it
unexpectedly cancelled an order for 70 in June 2014. (Reuters)
Aldar to spend AED4bn in short-term on projects – Aldar
Properties announced that it is planning to spend AED4bn in the
short-term. Aldar is working on 23 development projects in Abu
Dhabi and is focused on completion of its existing projects.
(GulfBase.com)
Mashreq establishes corporate alliance with ACFE –
Mashreq Bank has become the first bank in the Middle East to
establish a Corporate Alliance with the Association of Certified
Fraud Examiners (ACFE). (GulfBase.com)
ADNOC reduces prices of LPG cylinders – ADNOC
Distribution has reduced prices for the refilling of liquefied
petroleum gas (LPG) cylinders of 25 lbs capacity at its service
stations in the Northern Emirates, including Sharjah, Ajman,
Umm Al Quwain, Ras Al Khaimah and Fujairah. The company
has brought down the price to AED33 per 25 lbs cylinder from its
previous retail price of AED40. (GulfBase.com)
Abu Dhabi to raise power, water tariffs – Abu Dhabi will raise
electricity and water tariffs to eliminate waste and limit rapid
consumption growth, in a fresh sign that plunging oil prices are
prompting Gulf governments to economize. Electricity tariffs for
residential consumers will be hiked between 10% and 40% from
January 1, 2015. (GulfBase.com)
RAK Ceramics plans to exit non-core assets – According to
RAK Ceramics’ Chief Executive Abdallah Massaad, the
company is likely to see benefits to its fourth-quarter earnings
onward after it exits from some of its non-core businesses. The
company, whose main business also includes sanitaryware,
defines its non-core assets as “contracting and other activities”.
Its subsidiaries include a hotel, a mechanical, electrical and
plumbing contractor, a utility firm and a construction firm.
Massaad said that RAK Ceramics would announce an
expansion proposal for the UAE sanitaryware business in
4Q2014. (GulfBase.com)
Oman-India fund set to raise $250mn corpus fund – Oman-
India Joint Investment Fund, a special purpose vehicle to
promote joint investment, is set to raise its corpus by $250mn.
Oman India Joint Investment Fund was formed in 2011 with
equal equity contribution from State Bank of India (SBI) and
State General Reserve Fund (SGRF). (GulfBase.com)
Oman re-tenders Batinah Expressway second package –
Oman’s Ministry of Transport & Communications (MoTC) has
floated a re-tender to build the second package of Batinah
Expressway. This is one of the biggest road projects in the
country that extends the Muscat Expressway road all the way to
the Oman-UAE border at Khatmat Malaha. Earlier in August
2012, the OMR123.2mn contract for the second package, which
was awarded to a consortium led by a Malaysian firm, was
cancelled. The 265-kilometre-long Batinah Expressway project
is divided into six packages for construction purposes. The
project will include several multilevel crossroads, bridges and
culverts to allow travel on the expressway, even during different
climatic conditions. (GulfBase.com)
Ithmaar Bank reports $4.84mn net profit in 9M2014 – Ithmaar
Bank reported total net profit of $4.84mn for 9M2014, as
compared with a net loss of $11.97mn for 9M2013. Net profit for
3Q2014 amounted to $3.06mn, as compared with net loss of
$4.45mn in 3Q2013. The equity of unrestricted investment
account holders increased by 5.4% to $1.9bn, as compared with
$1.88bn as at September 30, 2013 and has remained stable vs.
$1.99bn as of December 31, 2013. Customer current accounts
have increased to $1.29bn as at September 30, 2014, indicating
a rise of 10.08%, as compared with $1.18bn as at September
30, 2013 and an increase of 1.8% as compared with $1.27bn as
at December 31, 2013, mainly due to the bank's continued focus
on developing its core retail banking business and raising low-
cost funds. Murabaha and other financing increased to $3.22bn
as at September 30, 2014, reflecting an increase of 2.8% from
$3.13bn as at September 30, 2013 and a rise of 2% from
$3.15bn as at December 31, 2013. (GulfBase.com)
BMI Bank’s customer deposits grow 8% – BMI Bank, a
subsidiary of Al Salam Bank-Bahrain (ASBB), announced that its
total assets and total advances & financing for 9M2014 stood at
BHD0.74bn and BHD0.37bn, respectively, as compared to
BHD0.73bn and BHD0.37bn at the end of 2013. Customer
deposits grew from BHD0.53bn as at the end of 2013 to
BHD0.56bn at the end of 3Q2014 at an annualized growth rate
of 8%. Whilst the bank's underlying business continues to be
robust and profitable, the net results for 9M2014 reflect a loss
after provisions of BHD5.70mn, as compared with a net profit of
BHD0.88mn recorded during 9M 2013. The net loss for 3Q2014
stands at BHD2.59mn, as compared with a net profit of
BHD0.34mn achieved during 3Q2013. The total operating
income for 9M2014 was BHD18.19m, as compared with
BHD16.5mn in 9M2014, representing an increase of 10%.
(GulfBase.com)
CBB's monthly issue of treasury bills oversubscribed by
184% – Central Bank of Bahrain (CBB) announced that
BHD30mn monthly issue of Government Treasury Bills has
been oversubscribed by 184%. The issue date of the bills is 16
November 2014 and the maturity date is 17 May 2015. The
weighted average rate of interest is 0.80% and the approximate
average price for the issue was 99.597%. (GulfBase.com)
KHCB reports BHD2.2mn net profit in 9M2014 – Khaleeji
Commercial Bank (KHCB) reported net profit of BHD2.2mn for
9M2014 as compared to a net loss of BHD0.03mn for 9M2013,
while for 3Q2014 KHCB has achieved a profit of BHD1mn
compared to a net loss of BHD0.48mn for 3Q2013. The Bank’s
financial position remains strong with a liquid asset ratio of 28.6
% and capital adequacy ratio of 25.1%. The bank’s total assets
stood at BHD568.328mn at the end of September 2014 as
against BHD542.24mn as at 2013-end. (Bahrain Bourse)
7. Contacts
Saugata Sarkar Abdullah Amin, CFA Shahan Keushgerian
Head of Research Senior Research Analyst Senior Research Analyst
Tel: (+974) 4476 6534 Tel: (+974) 4476 6569 Tel: (+974) 4476 6509
saugata.sarkar@qnbfs.com.qa abdullah.amin@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa
Sahbi Kasraoui Ahmed Al-Khoudary QNB Financial Services SPC
Manager – HNWI Head of Sales Trading – Institutional Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6544 Tel: (+974) 4476 6548 PO Box 24025
sahbi.alkasraoui@qnbfs.com.qa ahmed.alkhoudary@qnbfs.com.qa Doha, Qatar
DISCLAIMER: This publication has been prepared by QNB Financial Services SPC (“QNBFS”) a wholly-owned subsidiary of Qatar National Bank (“QNB”). QNBFS is regulated by the Qatar
Financial Markets Authority and the Qatar Stock Exchange; QNB is regulated by the Qatar Central Bank. This publication expresses the views and opinions of QNBFS at a given time only. It is
not an offer, promotion or recommendation to buy or sell securities or other investments, nor is it intended to constitute legal, tax, accounting, or financial advice. We therefore strongly advise
potential investors to seek independent professional advice before making any investment decision. Although the information in this report has been obtained from sources that QNBFS believes
to be reliable, we have not independently verified such information and it may not be accurate or complete. While this publication has been prepared with the utmost degree of care by our
analysts, QNBFS does not make any representations or warranties as to the accuracy and completeness of the information it may contain, and declines any liability in that respect. QNBFS
reserves the right to amend the views and opinions expressed in this publication at any time. It may also express viewpoints or make investment decisions that differ significantly from, or even
contradict, the views and opinions included in this report.
COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS.
Page 7 of 7
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg, *$ adjusted returns.
80.0
100.0
120.0
140.0
160.0
180.0
200.0
220.0
Oct-10 Oct-11 Oct-12 Oct-13 Oct-14
QSE Index S&P Pan Arab S&P GCC
(0.9%)
0.0%
(0.0%)
(0.5%)
0.8%
0.3%
1.7%
(1.6%)
(0.8%)
0.0%
0.8%
1.6%
2.4%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,188.75 2.3 0.9 (1.4) DJ Industrial 17,634.74 (0.1) 0.3 6.4
Silver/Ounce 16.31 4.2 3.3 (16.2) S&P 500 2,039.82 0.0 0.4 10.4
Crude Oil (Brent)/Barrel (FM
Future)
79.41 1.9 (4.8) (28.3) NASDAQ 100 4,688.54 0.2 1.2 12.3
Natural Gas (Henry
Hub)/MMBtu
4.04 (3.1) 0.7 (7.0) STOXX 600 335.63 0.3 0.8 (7.2)
LPG Propane (Arab Gulf)/Ton 80.25 (0.3) (3.9) (36.4) DAX 9,252.94 0.4 0.2 (12.2)
LPG Butane (Arab Gulf)/Ton 102.25 (4.0) (3.3) (25.1) FTSE 100 6,654.37 (0.0) 0.1 (6.8)
Euro 1.25 0.4 0.6 (8.9) CAC 40 4,202.46 0.7 1.0 (11.2)
Yen 116.29 0.4 1.5 10.4 Nikkei 17,490.83 0.1 2.1 (3.0)
GBP 1.57 (0.3) (1.3) (5.4) MSCI EM 990.81 (0.2) 0.3 (1.2)
CHF 1.04 0.5 0.7 (6.9) SHANGHAI SE Composite 2,478.82 (0.4) 2.4 15.6
AUD 0.88 0.3 1.3 (1.9) HANG SENG 24,087.38 0.3 2.3 3.3
USD Index 87.53 (0.2) (0.1) 9.4 BSE SENSEX 28,046.66 0.2 0.2 32.9
RUB 47.31 1.7 1.3 43.9 Bovespa 51,772.40 (0.3) (3.9) (8.7)
BRL 0.38 (0.3) (1.7) (9.1) RTS 1,000.42 (1.2) (0.7) (30.7)
197.3
151.3
137.4