The QE Index in Qatar declined 0.7% led by losses in the Transportation and Industrials indices. Ahli Bank and Qatar Gas Transport Company were the top losers. In other GCC markets, indices in Saudi Arabia and Kuwait fell while Dubai and Oman gained slightly. Company earnings news was reported from Saudi Arabia. Global economic data showed inflation increases in the UK and EU while industrial production grew in Japan. News mentioned AKHI opening a new branch in Qatar and Investment House closing a global Wakala trust program. Qatar's current account balance is forecast to rebound strongly in 2021-2022.
QNBFS Daily Market Report February 09, 2022QNB Group
The QE Index declined marginally to close at 12,673.0. Losses were led by the Transportation and Insurance indices, falling 0.8% and 0.5%, respectively.
The QE Index rose 0.4% to close at 10,401.4. Gains were led by the Banks & Financial Services and Insurance indices, gaining 1.1% and 0.5%, respectively.
The QE Index rose 0.9% to close at 13,397.6. Gains were led by the Industrials and Consumer Goods & Services indices, gaining 2.8% and 2.3%, respectively.
QNBFS Daily Market Report February 09, 2022QNB Group
The QE Index declined marginally to close at 12,673.0. Losses were led by the Transportation and Insurance indices, falling 0.8% and 0.5%, respectively.
The QE Index rose 0.4% to close at 10,401.4. Gains were led by the Banks & Financial Services and Insurance indices, gaining 1.1% and 0.5%, respectively.
The QE Index rose 0.9% to close at 13,397.6. Gains were led by the Industrials and Consumer Goods & Services indices, gaining 2.8% and 2.3%, respectively.
QNBFS Daily Market Report October 20, 2021QNB Group
The QE Index rose 0.2% to close at 11,767.5. Gains were led by the Consumer Goods & Services and Banks & Financial Services indices, gaining 0.4% each.
The QE Index rose 1.5% to close at 10,920.7. Gains were led by the Industrials and Consumer Goods & Services indices, gaining 2.7% and 1.8%, respectively.
QNBFS Daily Market Report February 21, 2022QNB Group
The QE Index declined 0.5% to close at 12,668.1. Losses were led by the Consumer Goods & Services and Banks & Financial Services indices, falling 0.9% and 0.7%, respectively.
QNBFS Daily Market Report September 08, 2019QNB Group
The QE Index declined 0.4% to close at 10,253.2. Losses were led by the Real Estate
and Banks & Financial Services indices, falling 1.5% and 1.0%, respectively.
QNBFS Daily Market Report October 25, 2021QNB Group
The QE Index declined 0.4% to close at 11,820.7. Losses were led by the Industrials and Banks & Financial Services indices, falling 1.3% and 0.4%, respectively.
QNBFS Daily Market Report October 20, 2021QNB Group
The QE Index rose 0.2% to close at 11,767.5. Gains were led by the Consumer Goods & Services and Banks & Financial Services indices, gaining 0.4% each.
The QE Index rose 1.5% to close at 10,920.7. Gains were led by the Industrials and Consumer Goods & Services indices, gaining 2.7% and 1.8%, respectively.
QNBFS Daily Market Report February 21, 2022QNB Group
The QE Index declined 0.5% to close at 12,668.1. Losses were led by the Consumer Goods & Services and Banks & Financial Services indices, falling 0.9% and 0.7%, respectively.
QNBFS Daily Market Report September 08, 2019QNB Group
The QE Index declined 0.4% to close at 10,253.2. Losses were led by the Real Estate
and Banks & Financial Services indices, falling 1.5% and 1.0%, respectively.
QNBFS Daily Market Report October 25, 2021QNB Group
The QE Index declined 0.4% to close at 11,820.7. Losses were led by the Industrials and Banks & Financial Services indices, falling 1.3% and 0.4%, respectively.
QNBFS Daily Market Report October 27, 2020QNB Group
The QE Index declined marginally to close at 9,807.5. Losses were led by the Industrials and Banks & Financial Services indices, falling 0.2% and 0.1%, respectively.
QNBFS Daily Market Report September 07, 2017QNB Group
The QSE Index declined 1.3% to close at 8,684.6. Losses were led by the Industrials and Banks & Financial Services indices, falling 1.9% and 1.2%, respectively.
The QE Index declined 0.4% to close at 10,743.5. Losses were led by the Telecoms and Banks & Financial Services indices, falling 1.3% and 0.7%, respectively.
The QE Index rose 0.2% to close at 10,748.3. Gains were led by the Insurance and Banks & Financial Services indices, gaining 1.2% and 0.5%, respectively.
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 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 rose 0.3% to close at 10,323.0. Gains were led by the Transportation and Industrials indices, gaining 0.8% each. Top gainers were Qatar Navigation and Al Khaleej Takaful Insurance Co., rising 3.3% and 2.0%, respectively.
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.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Analyzing the instability of equilibrium in thr harrod domar model
QNBFS Daily Market Report May 20, 2021
1. Page 1 of 6
QSE Intra-Day Movement
Qatar Commentary
The QE Index declined 0.7% to close at 10,733.6. Losses were led by the
Transportation and Industrials indices, falling 1.5% and 1.4%, respectively. Top losers
were Ahli Bank and Qatar Gas Transport Company Ltd., falling 3.5% and 2.3%,
respectively. Among the top gainers, Qatari Investors Group gained 4.8%, while Qatar
General Insurance & Reinsurance Co. was up 4.0%
GCC Commentary
Saudi Arabia: The TASI Index fell 0.5% to close at 10,372.5. Losses were led by
the Software & Services and Real Estate Mgmt & Dev't indices, falling 1.1% and
0.8% respectively. Sahara International Petrochemical Co. declined 2.4%, while
Saudi Advanced Industries was down 1.9%.
Dubai: The DFM Index gained 0.2% to close at 2,711.2. The Services index rose
1.9%, while the Real Estate & Construction index gained 1.8%. National Industries
Group Holding rose 14.9%, while Ekttitab Holding Company was up 4.6%.
Abu Dhabi: The ADX General Index fell 0.1% to close at 6,518.6. The Industrial
index declined 1.6%, while the Investment & Financial Services index fell 1.5%.
Sharjah Insurance Company declined 10.0%, while Sharjah Cement & Industrial
Development Company was down 9.9%.
Kuwait: The Kuwait All Share Index fell 0.2% to close at 6,295.1. The Technology
index declined 6.2%, while the Energy index fell 1.8%. Kuwait Reinsurance
Company declined 14.7%, while Gulf Investment House was down 11.2%.
Oman: The MSM 30 Index gained marginally to close at 3,847.8. The Services
index gained 0.1%, while the other indices ended in red. Bank Dhofar rose 3.6%,
while Salalah Mills Company was up 3.4%.
Bahrain: The BHB Index fell 0.3% to close at 1,531.2. The Industrial index declined
0.8%, while the Commercial Banks index fell 0.5%. Trafco Group declined 7.4%,
while Khaleeji Commercial Bank was down 5.6%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatari Investors Group 2.64 4.8 16,810.8 45.8
Qatar General Ins. & Reins. Co. 2.50 4.0 246.2 (6.1)
Qatar Oman Investment Company 1.05 2.5 18,301.8 17.8
Mazaya Qatar Real Estate Dev. 1.19 1.6 46,653.5 (5.8)
Qatar Islamic Insurance Company 8.00 1.2 0.2 15.9
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Mazaya Qatar Real Estate Dev. 1.19 1.6 46,653.5 (5.8)
Qatar Aluminum Manufacturing 1.70 (0.4) 31,626.4 75.8
Salam International Inv. Ltd. 0.95 (1.0) 25,078.3 45.9
Qatar Oman Investment Company 1.05 2.5 18,301.8 17.8
Qatari Investors Group 2.64 4.8 16,810.8 45.8
Market Indicators 19 May 21 18 May 21 %Chg.
Value Traded (QR mn) 447.0 460.7 (3.0)
Exch. Market Cap. (QR mn) 623,952.4 629,151.6 (0.8)
Volume (mn) 213.8 218.7 (2.3)
Number of Transactions 10,641 10,053 5.8
Companies Traded 47 43 9.3
Market Breadth 12:34 21:21 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 21,247.85 (0.7) (1.8) 5.9 18.2
All Share Index 3,411.62 (0.6) (1.4) 6.6 19.0
Banks 4,500.20 (0.4) (0.5) 5.9 15.7
Industrials 3,520.42 (1.4) (3.7) 13.6 27.1
Transportation 3,406.81 (1.5) (1.9) 3.3 22.7
Real Estate 1,898.56 (0.6) (0.6) (1.6) 18.0
Insurance 2,689.75 0.2 (0.5) 12.3 24.1
Telecoms 1,070.64 (0.7) (1.5) 5.9 28.4
Consumer 8,156.93 (0.3) (1.9) 0.2 28.5
Al Rayan Islamic Index 4,618.96 (0.5) (1.0) 8.2 19.8
GCC Top Gainers## Exchange Close# 1D% Vol. ‘000 YTD%
Bank Dhofar Oman 0.12 3.6 590.8 18.6
Emaar Malls Dubai 1.96 3.2 25,477.0 7.1
Emaar Properties Dubai 3.98 1.8 35,744.1 12.7
Saudi Ind. Inv. Group Saudi Arabia 37.65 1.6 684.6 37.4
Arabian Centres Co Ltd Saudi Arabia 26.90 1.5 2,505.9 7.4
GCC Top Losers## Exchange Close# 1D% Vol. ‘000 YTD%
Sahara Int. Petrochemical Saudi Arabia 28.15 (2.4) 2,186.7 62.5
Qatar Gas Transport Co. Qatar 3.05 (2.3) 2,145.3 (4.1)
Industries Qatar Qatar 12.61 (2.2) 2,242.2 16.0
Saudi British Bank Saudi Arabia 29.45 (1.7) 760.6 19.1
National Bank of Bahrain Bahrain 0.59 (1.7) 108.3 3.2
Source: Bloomberg (# in Local Currency) (## GCC Top gainers/losers derived from the S&P GCC
Composite Large Mid Cap Index)
QSE Top Losers Close* 1D% Vol. ‘000 YTD%
Ahli Bank 3.75 (3.5) 32.2 8.8
Qatar Gas Transport Company 3.05 (2.3) 2,145.3 (4.1)
Qatar Industrial Manufacturing Co 2.90 (2.2) 50.0 (9.6)
Industries Qatar 12.61 (2.2) 2,242.2 16.0
Dlala Brokerage & Inv. Holding Co 1.67 (1.8) 2,067.1 (7.0)
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Mazaya Qatar Real Estate Dev. 1.19 1.6 55,689.7 (5.8)
Qatar Aluminum Manufacturing 1.70 (0.4) 54,328.1 75.8
Qatari Investors Group 2.64 4.8 44,140.2 45.8
QNB Group 17.72 (1.0) 31,698.6 (0.6)
Industries Qatar 12.61 (2.2) 28,521.2 16.0
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* 10,733.62 (0.7) (1.8) (1.6) 2.9 122.47 168,342.4 18.2 1.6 2.7
Dubai 2,711.21 0.2 0.6 4.1 8.8 116.45 102,574.1 20.3 0.9 3.0
Abu Dhabi 6,518.61 (0.1) 5.0 7.8 29.2 1,263.25 254,787.9 22.1 1.8 4.0
Saudi Arabia 10,372.54 (0.5) 0.5 (0.4) 19.4 1,923.72 2,571,174.2 31.1 2.3 2.0
Kuwait 6,295.11 (0.2) 0.3 3.0 13.5 237.46 119,833.2 39.1 1.6 2.2
Oman 3,847.76 0.0 0.3 2.3 5.2 6.26 17,318.0 11.5 0.7 4.7
Bahrain 1,531.21 (0.3) 0.2 3.1 2.8 4.63 23,625.5 26.9 1.0 2.2
Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Market and Dubai Financial Market (** TTM; * Value traded ($ mn) do not include special trades, if any)
10,700
10,750
10,800
10,850
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00
2. Page 2 of 6
Qatar Market Commentary
The QE Index declined 0.7% to close at 10,733.6. The Transportation
and Industrials indices led the losses. The index fell on the back of
selling pressure from Arab and Foreign shareholders despite buying
support from Qatari and GCC shareholders.
Ahli Bank and Qatar Gas Transport Company Ltd. were the top losers,
falling 3.5% and 2.3%, respectively. Among the top gainers, Qatari
Investors Group gained 4.8%, while Qatar General Insurance &
Reinsurance Co. was up 4.0%.
Volume of shares traded on Wednesday fell by 2.3% to 213.8mn from
218.7mn on Tuesday. Further, as compared to the 30-day moving
average of 292.5mn, volume for the day was 26.9% lower. Mazaya Qatar
Real Estate Dev. and Qatar Aluminum Manufacturing Co. were the most
active stocks, contributing 21.8% and 14.8% to the total volume,
respectively.
Source: Qatar Stock Exchange (*as a % of traded value)
Earnings Releases and Global Economic Data
Earnings Releases
Company Market Currency
Revenue (mn)
1Q2021
% Change
YoY
Operating Profit
(mn) 1Q2021
% Change
YoY
Net Profit
(mn) 1Q2021
%
Change
YoY
Saudi Research and Marketing
Group
Saudi Arabia SR 596.8 20.5% 114.7 38.2% 91.5 41.4%
Al-Omran Industrial Trading
Co.
Saudi Arabia SR 38.7 22.4% 4.0 778.9% 2.8 19957.1%
Taiba Investments Co. Saudi Arabia SR 34.3 -59.7% 0.3 -99.2% (1.9) N/A
Aljazira Takaful Taawuni Co. Saudi Arabia SR 49.4 13.4% – – 3.3 6.4%
Source: Company data, DFM, ADX, MSM, TASI, BHB.
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
05/19 US Mortgage Bankers Association MBA Mortgage Applications 14-May 1.2% – 2.1%
05/19 UK UK Office for National Statistics CPI MoM Apr 0.6% 0.6% 0.3%
05/19 UK UK Office for National Statistics CPI YoY Apr 1.5% 1.5% 0.7%
05/19 EU Eurostat CPI YoY Apr 1.6% 1.6% 1.3%
05/19 EU Eurostat CPI MoM Apr 0.6% 0.6% 0.6%
05/19 Japan Ministry of Economy Trade and Industry Industrial Production MoM Mar 1.7% – 2.2%
05/19 Japan Ministry of Economy Trade and Industry Industrial Production YoY Mar 3.4% – 4.0%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
Overall Activity Buy %* Sell %* Net (QR)
Qatari Individuals 52.50% 49.24% 14,561,728.0
Qatari Institutions 14.95% 12.10% 12,735,488.2
Qatari 67.45% 61.34% 27,297,216.2
GCC Individuals 0.34% 0.52% (815,974.2)
GCC Institutions 3.45% 2.50% 4,276,225.6
GCC 3.79% 3.02% 3,460,251.4
Arab Individuals 14.95% 15.14% (840,577.0)
Arab Institutions 0.00% 0.00% –
Arab 14.95% 15.14% (840,577.0)
Foreigners Individuals 4.09% 3.70% 1,759,200.3
Foreigners Institutions 9.72% 16.80% (31,676,090.9)
Foreigners 13.81% 20.50% (29,916,890.6)
3. Page 3 of 6
News
Qatar
AKHI branch in the Industrial Area starts receiving clients –
Alkhaleej Takaful Insurance Company (AKHI) announced that it
has started receiving clients at its branch located in the
Industrial Area, Street No. (8) (Alwakalat) providing all insurance
services (issuance - claims). (QSE)
Investment House closes series 4 Global Wakala Trust
Program successfully – Investment House, one of the leading
Shari’ah-compliant investment banks and asset managers in
Qatar, has announced the successful closing of its fourth Global
Wakala Trust Program with Inovalis, as manager. Investment
House and Inovalis have previously closed three series of the
Wakala Trust Certificates with proceeds being invested in Paris
and Malaga. The equity invested in the Global Wakala Trust
Program, is currently around €40mn. The Program is managed
by Inovalis that has achieved an 8% annual return with 5 years
holding period investing in income generating office buildings in
Germany, France and Spain. (Peninsula Qatar)
Lloyds Bank: Qatar current account balance set to bounce
back to 7.1% this year, 7.9% in 2022 – Qatar's current account
balance is expected to bounce back to 7.1% this year and 7.9%
in 2022 from -3.4% of GDP in 2020, a Lloyds Bank update has
shown. General government debt has grown from 62.3% of
GDP in 2019 to 71.8% in 2020 as the country continued to
borrow on international markets. The International Monetary
Fund anticipates a debt reduction this year and the next, with
levels at 59.8% of GDP in 2021 and 53.9% in 2022. Current
account surplus narrowed to 2.4% of GDP in 2019 from 9.1% a
year earlier as global energy prices fell, the update says.
However, the IMF expects this trend to be strengthened by the
negative economic impact of the COVID-19 pandemic and the
fall in oil prices. In the medium term, expansion of the North
Field gas projects is expected to be completed by 2024, further
boosting gas output, Lloyds Bank said. In February, Qatar
Petroleum took the final investment decision for developing the
NFE project, the world’s largest LNG project, which will raise
Qatar’s production capacity from 77mn tons per year (mtpy) to
110 mtpy by 2025. The project will also produce condensate,
LPG, ethane, sulphur and helium. It is expected to start
production in the fourth quarter of 2025 and total production will
reach about 1.4mn barrels oil equivalent per day. The NFE
project will be one of the energy industry’s largest investments
in the past few years, in addition to being the largest LNG
capacity addition ever, and the most competitive LNG project in
the world. New projects are planned in infrastructure and
telecommunications, and various construction projects are in
progress in preparation for the World Cup in 2022, Lloyds Bank
said. Inflation is estimated to have fallen to -0.7% in 2019 and -
2.7% in 2020. The IMF estimates inflation to increase to 2.4% in
2021 and 2.9% in 2022 in its latest World Economic Outlook.
(Gulf-Times.com)
IIF: Qatar banking system remains resilient on flexible QCB
regulations – Sound initial capital and liquidity positions as well
as a flexible response by the Qatar Central Bank (QCB), helped
Qatar's banking system to remain “resilient”, according to the
Washington-based the Institute of International Finance (IIF).
"The banking system has remained relatively resilient amid the
pandemic, helped by sound initial capital and liquidity positions,"
it said in a report. The banks remain adequately capitalized with
a 17.6% Tier 1 capital ratio and low non-performing loan (NPL)
ratio of 2% in 2020, it said. Indicating sound capital base, the
country’s banking sector witnessed progressive improvement in
the ratio of Tier I capital to risk weighted assets with it rising
from 15.7% in 2016 to 16.5% in 2017, 17% in 2018 and 17.5%
in 2019. The NPLs stood at 1.3% in 2016, 1.6% in 2017, 1.9% in
2018 and 1.8% in 2019, the IIF said, quoting QCB estimates.
The provisions towards NPLs had a checkered path, rising from
79.9% in 2016 to 83.2% in 2017, but declining to 75.8% in 2018,
then rising to 81.9% in 2019 and further to 83.8% in 2020. The
IIF report said liquid assets were 28% of the total assets and
those were 67% of the total liabilities in 2020. Finding that the
financial support programs have been critical to sustain
corporate credit; it said the QCB has maintained a low policy
rate in line with the US Federal Reserve in the context of the
currency peg. (Gulf-Times.com)
King of LNG undercuts rivals in bid to dominate global
market – The world’s top exporter of liquefied natural gas is
ramping up production dramatically and undercutting
competitors in a bid to squeeze them out of the market. Qatar is
dropping prices and pushing ahead with a $29bn project to
boost its exports of the fuel by more than 50%, stymieing the
prospects of new plants elsewhere. It is also established a
trading team to compete in the nascent spot market and pushing
into Asia more aggressively, according to people familiar with
the matter. The strategy marks a shift for Qatar, which has
barely raised production in the past five years and traditionally
prioritized prices over market share. Increased competition,
especially from the US and Australia, has forced the Persian
Gulf state to become more nimble and attract buyers in Asia, a
hot spot for gas demand. The global transition to renewable
energy is adding to the country’s sense of urgency. While LNG
was until recently touted as a bridge from coal and oil to the
likes of solar and wind power, it is falling out of favor with some
governments as they step up efforts to slow climate change.
(Bloomberg)
Japanese refineries buy July Al-Shaheen crude at $1.70-
$1.80 per barrel – Japanese processors ENEOS, Idemitsu and
Cosmo buy at least five cargoes of Qatar’s Al-Shaheen crude
for July loading at ~$1.70-$1.80 per barrel premium to Dubai
benchmark, according to traders who asked not to be identified.
Standard cargo size 500k barrels; the transactions were done
ahead of QPSPP’s release of its monthly tender results. QPSPP
sold June-loading Al-Shaheen cargoes at an average premium
of $1.20-$1.30 per barrel to Dubai benchmark in its last reported
tender last month. (Bloomberg)
Cabinet nod to draft law on Shura Council electoral system
– The Cabinet on Wednesday approved a draft law on the
Shura Council's electoral system and referred it to the Shura
Council. The provisions of the draft law are in line with Qatar's
permanent Constitution, with an electoral system law set to be
released that will determine the conditions and requirements to
run for the elections, according to a Qatar News Agency (QNA)
report. The approval came at the Cabinet's regular meeting
chaired by HE the Prime Minister and Minister of Interior Sheikh
Khalid bin Khalifa bin Abdulaziz Al-Thani via videoconferencing.
Following the meeting, HE the Minister of Justice and Acting
Minister of State for Cabinet Affairs Dr Issa bin Saad Al-Jafali Al-
Nuaimi issued a statement giving details of the proceedings.
(Gulf-Times.com)
International
Rightmove: UK sees renewed demand for city-centre
apartments – Demand is returning fast in Britain for apartments
and other city-centre property, which buyers had avoided during
the coronavirus pandemic in favor of big houses in rural
locations, a survey showed. Online property portal Rightmove
said buyer interest for apartments had risen by 39% since
January, based on the number of times people contacted estate
agents about properties. Demand for city-centre housing in
general has risen by 35%, compared with a 32% rise in demand
4. Page 4 of 6
for housing in villages. The survey adds to signs that the British
property market’s pandemic boom has persisted with help from
finance minister Rishi Sunak. In March’s budget he extended a
cut to property purchase taxes and announced a new mortgage
guarantee scheme for first-time buyers who cannot afford large
deposits. “These are early signs but they certainly point to some
good news for city centres across Great Britain, with a number
of agents now telling me they’ve seen a marked uptick in
demand from first-time buyers,” Rightmove’s director of property
data, Tim Bannister, said. Official data published on Tuesday
showed house prices rose in March by more than 10% in annual
terms - the biggest increase since August 2007. The Office for
National Statistics also said prices of detached houses rose by
11.7% in the year to March, compared with an increase of 5.0%
for flats and maisonettes. Since then, Prime Minister Boris
Johnson allowed non-essential shops, pubs and restaurants to
reopen. Almost all restrictions are due to end in late June.
“People starting to venture into their local high streets and once
again experiencing the buzz of their city centres, along with
greater mortgage availability for first-time buyers, means city
centres are staging a much-needed comeback,” Bannister said.
(Reuters)
German DIHK business survey points to 3% growth this
year – Germany’s DIHK Chambers of Industry and Commerce
said on Wednesday it slightly raised its growth forecast for
Europe’s largest economy to 3% this year after its recent survey
pointed to improved business morale over the past three
months. The DIHK’s updated growth forecast compares with its
previous estimate of 2.8% projected in February and is based
on the latest findings of the association’s survey among more
than 27,000 companies from various sectors of the economy.
The DIHK forecast is less optimistic than the government’s
projection of 3.5% GDP growth this year. The German economy
shrank by 4.8% last year due to the pandemic. “There is
cautious optimism among export-oriented industrial companies
due to economic catch-up effects, but there is still a
considerable amount of skepticism, particularly among the
sectors affected by the lockdown, due to ongoing coronavirus
restrictions,” DIHK said in a summary of its survey. Among the
companies most upbeat were manufacturers of vehicles,
machinery and electrical engineering products. “One possible
reason is the economic recovery in important sales markets
such as China and the US, which is boosting demand for “Made
in Germany” goods,” the DIHK said. (Reuters)
Japan's exports jump most in decade as trade recovery
perks up – Japan’s exports grew the most since 2010 in April
while capital spending perked up on surging global demand for
cars and electronics, lifting hopes that an improvement in trade
could help lead the world’s third-largest economy back to
growth. Also brightening the outlook, confidence among the
nation’s manufacturers hit a more than two-year high in May on
the back of solid overseas orders, a Reuters survey showed on
Thursday. While the stronger exports and imports are partly
helped by the favorable statistical base effects from the major
plunge in trade seen a year earlier, real demand is also on the
mend. Global appetite for cars and electronics has picked up
since last year, driven by a recovery in the U.S. and Chinese
economies – Japan’s key markets – although global chip
shortages put a drag on overseas shipments in recent months.
Exports rose 38.0% in April from a year earlier, official data
showed on Thursday, compared with a 30.9% increase
expected by economists and following a 16.1% rise in March.
That was the fastest gain since April 2010, led by US-bound
shipments of cars and car parts and Chinese demand for chip-
making equipment. “The trade data confirmed that exports were
recovering steadily. Particularly car exports, which fell a lot last
year, are picking up,” said Yuichi Kodama, chief economist at
Meiji Yasuda Research Institute. (Reuters)
Regional
Aramco venture arm investing in US startup Wasabi – The
venture capital arm of Saudi Arabia’s state-owned energy
producer Aramco is investing in Boston-area cloud-storage
startup Wasabi Technologies. One of Aramco’s funds,
Prosperity7 Ventures, is contributing to a $25mn follow-on
investment, alongside the venture capital arm of disk-drive
maker Western Digital Corp., Wasabi Chief Executive Officer,
David Friend said. (Bloomberg)
JPMorgan eyes $100mn payday on trade linked to Aramco
deal – JPMorgan & Chase Co. is set to earn more than $100mn
on a recent trade tied to the sale of a stake in Saudi Aramco’s
oil pipelines, a windfall that stands out even in the sprawling
interest-rate swap market, sources said. The bank is poised to
book gains on a hedging transaction with US investment firm
EIG Global Energy Partners, which agreed last month to invest
$12.4bn in the pipelines, the sources said. JPMorgan advised
Aramco on the deal and was one of two banks that helped it
arrange a loan of more than $10bn offered to the buyers, the
people said. Given the size of the financing, EIG separately
entered into a so-called swap deal with JPMorgan to guard
against fluctuations in interest rates. JPMorgan is in line for the
nine-figure profit after markets moved in its favor, according to
the people, who asked not be identified discussing sensitive
information. (Bloomberg)
Arqaam: UAE stocks may attract $1.9b with full foreign
ownership – Shares of UAE-based companies may lure as
much as $1.9bn as the government permits full foreign
ownership, according to Arqaam Capital. Etisalat will be among
the top beneficiaries, with expected $1bn inflows, Noaman
Khalid and Jaap Meijer wrote in a note. Dubai Islamic Bank
would likely attract $364mn; Emaar +$161mn; Aldar Properties
+$100mn; Abu Dhabi Islamic Bank +$60mn. Other names
should attract average of $8mn per stock. Lifting of foreign
ownership limit expected to be reflected on MSCI indexes in
August, FTSE indexes in September. (Bloomberg)
UAE to Allow 100% Foreign Ownership of Companies in
June – Foreigners opening a company in the UAE will no longer
need an Emirati shareholder or agent under changes to UAE
company law that will go into effect on June 1, state news
agency WAM reported on Wednesday. "The amended
Commercial Companies Law aims at boosting the country's
competitive edge and is a part of UAE government efforts to
facilitate doing business," Minister of Economy, Abdulla bin
Touq Al Marri was quoted as saying. The UAE announced the
law allowing 100% foreign ownership of companies last year -
one of several steps aimed at attracting investment and
foreigners into the Gulf state, which was badly hurt by the
coronavirus crisis. A previous foreign investment law in 2018
allowed foreigners to own up to 100% of some businesses, and
foreigners could already own up to 100% of those registered in
designated business parks known as "free zones". (Reuters)
Dubai Airports CEO says travel sector needs states to
cooperate on vaccines – Dubai Airports’ Chief Executive on
Wednesday urged wealthy nations to better help poorer states
in accessing COVID-19 vaccines, saying global travel was
unlikely to reach previous heights without most people being
vaccinated. The global travel industry has been plunged into its
worst ever crisis by the pandemic, which continues to keep
many planes grounded or flying near-empty with demand
struggling to recover. “If you’re serious about wanting to go back
to the degree of mobility we had before, then I am afraid the
protection of the majority is going to be the agenda that
5. Page 5 of 6
prevails,” Paul Griffiths told the Arabian Travel Market in Dubai.
Griffiths said he did not like the idea of countries restricting entry
to the vaccinated and called for a more equitable vaccine
distribution. (Reuters)
Dubai Airport Free Zone signs deal with SCA supporting
Crypto – Dubai Airport Free Zone Authority, also known as
DAFZA, signs agreement with the Securities and Commodities
Authority (SCA) to support the regulation, offering, issuance,
listing and trading of crypto assets within the free zone,
according to emailed statement. Agreement allows companies
trading with crypto assets to be licensed within DAFZA. SCA will
supervise, control, inspect and investigate entities operating in
DAFZA and that have obtained a license or approval.
(Bloomberg)
Dubai becomes Middle East’s first green hydrogen
producer – Dubai Electricity and Water Authority (DEWA) and
Siemens Energy AGhave started producing hydrogen using
renewable energy at a small facility on the outskirts of Dubai.
The demonstration plant in the UAE uses solar power generated
at the nearby Mohammed bin Rashid Al Maktoum Solar Park,
Chief Executive Officer of DEWA, Saeed Al Tayer said. It is the
first facility in the region to produce green hydrogen, according
to BloombergNEF’s Hydrogen Project Database. The fuel is
made when water molecules are split into hydrogen and oxygen
using renewable power alone. The pilot project will produce
around 20.5 kilograms an hour of hydrogen using 1.25
megawatts of power, Siemens Energy said. That’s enough to fill
up nearly 100 cars a day. (Bloomberg)
Creditor group to counter Dubai real estate fund's Sukuk
offer – A group of creditors plans to oppose the terms of an
offer by Dubai-listed Emirates REIT to exchange $400mn in
Islamic bonds for new instruments, four sources told Reuters.
Emirates REIT on Tuesday offered to exchange unsecured
Sukuk for secured ones as part of a revamp aimed at bolstering
the sharia-compliant real estate investment trust's balance
sheet, which has been hit by the coronavirus crisis. The plan
envisages extending the bonds' maturity to 2024 from 2022, as
well as a deferral of coupon payments for a year. Creditors will
be given instead first-ranking mortgage security over certain
assets in Dubai and its financial center with an aggregate value
of about $280mn. But some creditors plan a counter proposal to
Emirates REIT soon, four sources familiar with the matter said.
(Zawya)
Oman’s oil firm OQ hires advisers for sale of stake in
Portugal’s REN – Oman’s OQ has hired legal and financial
advisers to prepare for the possible sale of its entire 12% stake
in Portuguese power grid operator REN, the state-owned oil firm
announced. OQ, formerly Oman Oil Company, said in a
statement the advisors will “assist in the preparation of such
intended sale through a private placement.” “No formal decision
has been made as to the sale itself or the conditions in which it
may be implemented,” the statement said. “At this point no
specific process has been initiated.” A sale would depend on
internal approval and adequate market conditions, it added. OQ
is REN’s second largest shareholder after China’s State Grid,
which holds a 25% stake. REN, which owns high-voltage
electricity and high-pressure natural gas transmission grids in
Portugal, announced last Friday it will boost its capex by 35%
over the next five years to $1.1bn. (Reuters)
Jazeera Airways gets shareholder approval for 10% capital
hike – The shareholders of Kuwait’s Jazeera Airways have
approved the proposal to increase the airline’s capital by 10%,
from KD20mn to KD22mn. The capital hike was approved
during the company’s extraordinary general meeting held on
Wednesday, the airline said in a statement. The board had
earlier recommended the increase amid “challenging conditions”
caused by the coronavirus pandemic. “The increase is
precautionary step to adhere to regulatory capital requirements
as operations remain derailed by the prolonged closure of
Kuwait International Airport,” the airline said. “It follows a
recommendation by Jazeera’s board in the face of the most
challenging six quarters for the global economy and more
specifically, the travel and tourism industry.” Airlines around the
world have been losing cash following the massive decline in
passenger numbers. Air traffic has plunged as a result of
COVID-19 restrictions and fall in traveler confidence worldwide.
“Despite the challenging conditions, Jazeera maintains a healthy
asset base and a very strong unrestricted cash balance, which
stood at KD17.6mn by the end of the first quarter of 2021,” the
airline said. (Zawya)
6. Contacts
QNB Financial Services Co. W.L.L.
Contact Center: (+974) 4476 6666
info@qnbfs.com.qa
Doha, Qatar
Saugata Sarkar, CFA, CAIA Shahan Keushgerian Mehmet Aksoy, PhD
Head of Research Senior Research Analyst Senior Research Analyst
saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa mehmet.aksoy@qnbfs.com.qa
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Page 6 of 6
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg (*$ adjusted returns, #
Market was closed on May19, 2021)
60.0
80.0
100.0
120.0
140.0
160.0
Apr-17 Apr-18 Apr-19 Apr-20 Apr-21
QSE Index S&P Pan Arab S&P GCC
(0.5%) (0.7%)
(0.2%) (0.3%)
0.0%
(0.1%)
0.2%
(2.0%)
(1.0%)
0.0%
1.0%
2.0%
Saudi
Arabia
Qatar
Kuwait
Bahrain
Oman
Abu
Dhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,869.62 0.0 1.4 (1.5) MSCI World Index 2,910.94 (0.6) (0.9) 8.2
Silver/Ounce 27.74 (1.6) 1.1 5.1 DJ Industrial 33,896.04 (0.5) (1.4) 10.7
Crude Oil (Brent)/Barrel (FM Future) 66.66 (3.0) (3.0) 28.7 S&P 500 4,115.68 (0.3) (1.4) 9.6
Crude Oil (WTI)/Barrel (FM Future) 63.36 (3.3) (3.1) 30.6 NASDAQ 100 13,299.74 (0.0) (1.0) 3.2
Natural Gas (Henry Hub)/MMBtu 2.88 (2.0) 0.3 20.5 STOXX 600 436.34 (1.6) (0.8) 9.2
LPG Propane (Arab Gulf)/Ton 83.00 0.3 1.7 10.3 DAX 15,113.56 (1.8) (1.4) 9.5
LPG Butane (Arab Gulf)/Ton 89.75 (0.6) 4.4 29.1 FTSE 100 6,950.20 (1.4) (0.9) 11.6
Euro 1.22 (0.4) 0.3 (0.3) CAC 40 6,262.55 (1.5) (1.3) 12.7
Yen 109.22 0.3 (0.1) 5.8 Nikkei 28,044.45 (1.2) 0.4 (3.0)
GBP 1.41 (0.5) 0.1 3.3 MSCI EM 1,327.54 (0.4) 1.5 2.8
CHF 1.11 (0.7) (0.3) (2.1) SHANGHAI SE Composite 3,510.97 (0.7) 0.6 2.5
AUD 0.77 (0.8) (0.6) 0.4 HANG SENG# 28,593.81 0.0 2.0 4.8
USD Index 90.19 0.5 (0.1) 0.3 BSE SENSEX 49,902.64 (0.8) 2.5 4.3
RUB 73.78 0.1 (0.3) (0.9) Bovespa 122,636.30 (0.8) 0.4 1.0
BRL 0.19 (0.9) (0.7) (2.2) RTS 1,552.91 (1.4) 0.3 11.9
137.9
132.4
103.3