Qatar: Daily Market Report - 4 January

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1. QSE Intra-Day Movement 10 ,460 10,440 10,420 10,400 Market Indicators 03 Jan 21 31 Dec 20 %Chg. Value Traded (QR mn) Exch. Market Cap. (QR mn) Volume (mn) Number of Transactions Companies Traded Market Breadth 141.5 602,724.1 95.3 3,119 43 16:24 464.5 602,198.7 189.2 8,832 45 11:33 (69.5) 0.1 (49.6) (64.7) (4.4) – Market Indices 9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00 Qatar Commentary The QE Index rose marginally to close at 10,437.5. Gains were led by the Consumer Goods & Services and Real Estate indices, gaining 0.6% and 0.3%, respectively. Top gainers were Qatar Fuel Company and Al Khalij Commercial Bank, rising 1.2% and 1.1%, respectively. Among the top losers, Qatar General Insurance & Reinsurance Company fell 7.9%, while Ooredoo was down 1.6%. Total Return All Share Index Banks Industrials Transportation Real Estate Insurance Telecoms Consumer Al Rayan Islamic Index Close 1D% WTD% YTD% TTM P/E 20,065.75 3,200.17 4,254.34 3,092.83 3,283.53 1,934.95 2,375.66 998.97 8,191.07 4,273.84 0.0 0.0 0.2 (0.2) (0.4) 0.3 (0.8) (1.2) 0.6 0.1 0.0 0.0 0.2 (0.2) (0.4) 0.3 (0.8) (1.2) 0.6 0.1 0.0 0.0 0.2 (0.2) (0.4) 0.3 (0.8) (1.2) 0.6 0.1 17.8 18.5 15.0 27.6 15.0 17.1 N.A. 14.9 29.1 19.6 Vol. ‘000 YTD% GCC Commentary GCC Top Gainers## Exchange Saudi Arabia: The TASI Index fell 0.9% to close at 8,612.8. Losses were led by the Consumer Durables & Apparel and Capital Goods indices, falling 3.3% and 2.6%, respectively. Alinma Tokio Marine Co. declined 4.9%, while Saudi Marketing Co. was down 4.8%. National Bank of Oman Emirates NBD Dubai: The DFM Index gained 0.6% to close at 2,506.4. The Real Estate & Construction index rose 1.2%, while the Services index gained 0.9%. Dar Al Takaful rose 3.4%, while Dubai Islamic Insurance Company was up 1.9%. Abu Dhabi: The ADX General Index gained 0.7% to close at 5,079.1. The Banks index rose 1.0%, while the Telecommunication index gained 0.7%. Zee Store rose 14.9%, while Easy Lease Motorcycle Rental was up 13.6%. Kuwait: Market was closed on January 03, 2020. Oman: The MSM 30 Index gained 0.6% to close at 3,679.3. Gains were led by the Industrial and Services indices, rising 0.7% each. Galfar Engineering & Contracting rose 9.8%, while Al Anwar Holdings was up 4.9%. Bahrain: Market was closed on January 03, 2020. Close# 1D% Oman 0.16 2.5 6.1 2.5 Dubai 10.50 1.9 146.8 1.9 First Abu Dhabi Bank Abu Dhabi 13.12 1.7 5,616.8 1.7 Emaar Malls Dubai 1.86 1.6 782.1 1.6 Emaar Properties Dubai 3.58 1.4 2,352.5 1.4 GCC Top Losers## Exchange Close# 1D% Vol. ‘000 YTD% Mouwasat Medical Serv. Saudi Arabia 133.00 (3.6) 12.6 (3.6) Saudi Industrial Inv. Saudi Arabia 26.45 (1.7) 538.2 (3.5) Savola Group Saudi Arabia 41.20 (3.1) 693.3 (3.1) National Petrochemical Saudi Arabia 32.50 (2.3) 82.7 (2.3) Saudi Kayan Petrochem. Saudi Arabia 13.98 (2.2) 17,651.0 (2.2) Source: Bloomberg (# in Local Currency) (## GCC Top gainers/losers derived from the S&P GCC Composite Large Mid Cap Index) QSE Top Gainers Qatar Fuel Company Al Khalij Commercial Bank Qatar Insurance Company Ezdan Holding Group Alijarah Holding Close* 18.91 1.86 2.39 1.79 1.25 1D% 1.2 1.1 1.1 0.8 0.6 Vol. ‘000 170.1 7,692.7 295.2 4,634.7 5,543.4 YTD% 1.2 1.1 1.1 0.8 0.6 QSE Top Losers Qatar General Ins. & Reins. Co. Ooredoo Gulf International Services Qatar Islamic Insurance Company Qatar Navigation Close* 2.45 7.40 1.69 6.80 7.00 1D% (7.9) (1.6) (1.5) (1.4) (1.3) Vol. ‘000 1,346.7 508.1 1,246.9 3.6 3.0 YTD% (7.9) (1.6) (1.5) (1.4) (1.3) QSE Top Volume Trades Mazaya Real Estate Development Salam International Inv. Ltd. Al Khalij Commercial Bank Investment Holding Group Alijarah Holding Close* 1.27 0.65 1.86 0.60 1.25 1D% 0.6 (0.2) 1.1 (0.2) 0.6 Vol. ‘000 29,701.7 18,980.2 7,692.7 6,916.0 5,543.4 YTD% 0.6 (0.2) 1.1 (0.2) 0.6 QSE Top Value Trades Mazaya Real Estate Development Al Khalij Commercial Bank Salam International Inv. Ltd. Ezdan Holding Group Alijarah Holding Close* 1.27 1.86 0.65 1.79 1.25 1D% 0.6 1.1 (0.2) 0.8 0.6 Val. ‘000 37,926.9 13,989.4 12,408.8 8,230.3 6,937.7 YTD% 0.6 1.1 (0.2) 0.8 0.6 P/E** P/B** 17.8 11.7 20.7 34.5 35.4 11.1 14.5 1.5 0.9 1.4 2.1 1.4 0.7 1.0 Source: Bloomberg (* in QR) Regional Indices Qatar* Dubai Abu Dhabi Saudi Arabia Kuwait# Oman Bahrain# Close 1D% WTD% MTD% YTD% 10,437.50 2,506.39 5,079.10 8,612.82 5,546.04 3,679.34 1,489.78 0.0 0.6 0.7 (0.9) (0.1) 0.6 0.9 0.0 0.6 0.7 (0.9) (0.4) 0.6 (0.2) 0.0 0.6 0.7 (0.9) 1.6 0.6 0.8 0.0 0.6 0.7 (0.9) (11.7) 0.6 (7.5) Exch. Val. Traded ($ mn) 38.39 20.69 82.75 2,032.52 95.94 1.88 3.61 Exchange Mkt. Cap. ($ mn) 163,217.7 93,078.4 198,243.1 2,413,033.4 103,588.7 16,584.2 22,785.8 Dividend Yield 3.8 3.9 4.8 2.5 3.5 6.9 4.5 Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Market and Dubai Financial Market (** TTM; * Value traded ($ mn) do not include special trades, if any; #Data as of December 31, 2020) Page 1 of 6
2. Qatar Market Commentary  The QE Index rose marginally to close at 10,437.5. The Consumer Goods & Services and Real Estate indices led the gains. The index rose on the back of buying support from Qatari shareholders despite selling pressure from GCC, Arab and Foreign shareholders.  Qatar Fuel Company and Al Khalij Commercial Bank were the top gainers, rising 1.2% and 1.1%, respectively. Among the top losers, Qatar General Insurance & Reinsurance Company fell 7.9%, while Ooredoo was down 1.6%.  Volume of shares traded on Sunday fell by 49.6% to 95.3mn from 189.2mn on Thursday. Further, as compared to the 30-day moving average of 211.1mn, volume for the day was 54.9% lower. Mazaya Real Estate Development and Salam International Investment Limited were the most active stocks, contributing 31.2% and 19.9% to the total volume, respectively. Overall Activity Buy %* Sell %* Net (QR) Qatari Individuals 61.77% 58.79% 4,218,225.0 Qatari Institutions 12.36% 7.32% 7,130,366.7 Qatari 74.13% 66.11% 11,348,591.6 GCC Individuals 0.70% 0.81% (149,688.2) GCC Institutions 1.08% 4.49% (4,822,553.6) GCC 1.78% 5.29% (4,972,241.9) Arab Individuals 13.88% 14.99% (1,569,441.4) Arab Institutions 0.00% 2.53% (3,580,603.6) 13.88% 17.52% (5,150,045.1) 9.79% 10.24% (628,766.5) Arab Foreigners Individuals Foreigners Institutions Foreigners 0.42% 0.84% (597,538.2) 10.21% 11.08% (1,226,304.7) Source: Qatar Stock Exchange (*as a % of traded value) Earnings Calendar Tickers Company Name Date of reporting 4Q2020 results No. of days remaining Status QNBK QNB Group 12-Jan-21 8 Due MARK Masraf Al Rayan 19-Jan-21 15 Due KCBK Al Khalij Commercial Bank 27-Jan-21 23 Due DHBK Doha Bank 8-Feb-21 35 Due Source: QSE News Qatar  NLCS to hold board of directors meeting on January 28 – Alijarah Holding (NLCS) has announced that its board of directors will be holding a meeting on January 28, 2021 to discuss the financial statements for the year 2020. (QSE)  ABQK to hold its AGM and EGM on February 24 – Ahli Bank (ABQK) announced that the General Assembly Meeting (AGM) and EGM will be held on February 24, 2021. In case of not completing the legal quorum, the second meeting will be held on March 7, 2021. (QSE)  KCBK to disclose its year-end 2020 results on January 27 – Al Khalij Commercial Bank (KCBK) has announced that its board of directors will meet on January 27, 2020 to approve and disclose the its year-end 2020 results. (Gulf-Times.com)  ORDS announces online payments now enabled with KCBK – Ooredoo (ORDS) has announced that its customers can now pay for Ooredoo services via their Al Khalij Commercial Bank (KCBK) online banking. Following a partnership agreement signed previously between Ooredoo and al khaliji, online payment services have been enabled and Ooredoo customers can now use online banking to make payments for Shahry, Qatarna, and home broadband bills, in addition to recharging prepaid accounts. (Gulf-Times.com)  Al Hajri takes over as QEWS GM from January 1 – Based on the decision of the board of directors of the Qatar Electricity and Water Company (QEWS), Mohammad Nasser Al Hajri has been appointed as a member of the board of directors and General Manager of QEWS with effect from January 1, 2021. Minister of State for Energy Affairs and Qatar Electricity and Water Company (QEWS) Chairman HE Saad bin Sherida Al Kaabi has welcomed Hajri and wished him success in performing his duties. Hajri holds a master’s degree in gas engineering from the University of Salford in the UK, and a bachelor’s degree in chemical engineering from Qatar University. He joined Qatar Petroleum in 1991. Hajri has more than 28 years of long experience in energy, oil and gas fields and has held many senior positions. He was executive vice president for petrochemical and industrial projects development in Qatar Petroleum, vice chairman of the board of directors of Industries Qatar and managing director of Qatar Steel and has participated in the development of a number of electricity and water projects and chaired the board of directors of Ras Girtas Power Company. (Qatar Tribune)  Property sales in Qatar rise 76.2%; population drops to 2.72mn – The number and value of sold properties increased 2% and 35.9% respectively in November 2020 compared to October 2020 and Page 2 of 6
3. 76 .2% and 54.3% when compared to November 2019, according to the monthly bulletin for November issued by the Planning and Statistics Authority (PSA). Al Wakrah Municipality recorded the highest monthly and annual increase, with 81 properties sold for QR355.9mn. Furthermore, among the most notable changes is the increase in total deposits and total credit at a monthly rate of 1% and 0.2% respectively compared to October 2020), and an annual increase of 6.5% and 9.7% respectively compared to November 2019. Regarding the data of buildings permits issued, the total number of permits reached 762 during November 2020, recording a monthly increase of 4.2% and an annual rise of 13.2%. As for the banking sector, total broad money supply (M2) recorded about QR583.1bn during November 2020, an annual increase of 3.5% compared with November 2019. On the other hand, cash equivalents including commercial bank deposits attained for QR884.8bn during November 2020. The figure has recorded an annual increase of 6.5% compared to November 2019, when deposits recorded approximately QR830.5bn. Qatar’s population decreased from 2.77mn in November 2019 to 2.72mn at end of November 2020, the Planning and Statistics Authority has revealed in the 83th issue of its monthly bulletin. According to the statistics, 2,305 live births were registered in November 2020 with a decrease in the total Qatari live births by 10.3% compared to October. (Qatar Tribune)  53rd Airbus A350 joins Qatar Airways fleet – Qatar Airways reaffirmed its position as the world’s largest operator of Airbus A350 aircraft with the national carrier welcoming its 53rd Airbus A350 on December 31, 2020. Qatar’s national carrier is the largest operator of Airbus A350 aircraft with 34 A350-900 and 19 A350-1000, reaffirming its position as the ‘ideal choice for environmentally conscious’ long-haul passengers. The A3501000 is fitted with the airline’s multi award-winning business class seat, Qsuite, and will operate on strategic routes to and from Africa, the Americas, Asia-Pacific and Europe. (GulfTimes.com) International  PMI: Japan snaps 19-month decline in factory activity in December – Japan’s factory activity ended a record 19-month run of declines in December as output stabilized for the first time in two years, suggesting manufacturers are shaking off the negative impact from the coronavirus pandemic. The privatesector data contrasts somewhat with last week’s government figures that showed industrial output growth stalled in November because of declines in car production on weakening US- and Australia-bound shipments. The final au Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) rose to a seasonally adjusted 50.0 in December from the previous month’s 49.0 and a preliminary 49.7 reading. The headline index hit the 50.0 threshold that separates contraction from expansion for the first time since April 2019, largely because output and employment conditions stopped decreasing, ending the longest run of declines on record. “Japanese manufacturers signaled a broad stabilization in operating conditions at the end of a tumultuous year,” said Usamah Bhatti, economist at IHS Markit, which compiles the survey. The PMI survey also showed overall new orders declined at the softest pace since December 2018. Growth expectations for the year ahead rose on hopes that the COVID-19-induced downturn will fade and new product launches will stimulate demand. “Businesses reported a sustained increase in optimism, with a third of respondents predicting a rise in output over the coming 12 months,” Bhatti said. The survey results were not completely rosy, with export orders falling at a faster rate for the second straight month thanks to restrictions recently imposed over the coronavirus in major export markets, particularly in Europe. Purchases also fell at a quicker pace from the previous month, with lower production and order volumes leading to a reduction in raw material purchases. (Reuters)  China's December factory activity growth slows, higher costs hit firms – Activity in China’s factory sector rose in December as the world’s second-largest economy sustained its recovery to prepandemic levels, a business survey showed on Monday, however, increasing cost pressures slowed the pace of expansion. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 53.0 from November’s 54.9, with the gauge staying well above the 50-level that separates growth from contraction but missing expectations and easing to the softest pace in three months. Analysts polled by Reuters had forecast the headline reading would slip to 54.8. China’s vast industrial sector has staged an impressive recovery from the coronavirus shock thanks to surprisingly strong exports. The economy is expected to expand around 2% for the whole of 2020 - the weakest pace in over three decades but much stronger than other major economies still struggling to contain infections. However, tougher coronavirus control measures in many of its key trading partners in the west could dent industrial demand, weighing on the recovery. The Caixin PMI reading comes after an official gauge of factory activity, focusing more on larger and state-owned firms, also moderated but remained strong. “The negative impact of the pandemic on the domestic economy further subsided and the manufacturing industry continued to recover. Both the supply and demand sides continued to improve. Overseas demand also steadily increased,” Wang Zhe, senior economist at Caixin Insight Group, wrote in a note accompanying the survey release. The private sector survey also showed input prices rose sharply, at the fastest pace since 2017, with pricier raw materials, especially metals, blamed for the increase. Chinese factories also laid off more workers than they hired for the first time in four months, although the decline was modest. Gauges of both total new orders and factory output slipped from November’s but remained strong. Growth in new export orders also slowed. (Reuters)  China securities regulator says NYSE delisting’s 'political', impact 'limited' – China’s securities regulator on Sunday said New York Stock Exchange (NYSE) plans to delist three Chinese telecom firms are “political” and that the impact will be “limited”. The NYSE on Thursday said it would delist China Mobile Ltd, China Unicom Hong Kong Ltd and China Telecom Corp Ltd following President Donald Trump’s move in November to bar US investment in 31 firms that Washington says are owned or controlled by the Chinese military. The China Securities Regulatory Commission, in a question and answer posted on its official website, said the plans are “politically motivated”. The move “completely disregards the actual situation of the relevant companies and the legitimate rights and interests of global investors and severely undermines normal market rules and order,” the Chinese regulator said. The overall Page 3 of 6
4. scale of the American Deposit Receipts listed by the three companies is small , it said, with a total market value of less than 20bn Yuan ($3.07bn), or 2.2% of the total equity of the three firms. “Even if delisted, the direct impact on the companies’ development and market operation is quite limited,” the regulator said. China’s commerce ministry said on Saturday it will take “necessary measures” to safeguard the interests of Chinese companies. China Mobile, China Unicom and China Telecom said they had not received notification from the NYSE of its delisting decision. Shares in China Telecom fell as much as 5% and those of China Mobile 3.5% against a 0.46% rise in the Hang Seng Index. (Reuters) Regional  OPEC sees oil outlook for first half of 2021 full of downside risks – OPEC sees plenty of downside risks for oil markets in the first half of 2021, its Secretary General, Mohammad Barkindo said on Sunday, a day before meeting allies led by Russia to discuss output levels for February. “Amid the hopeful signs, the outlook for the first half of 2021 is very mixed and there are still many downside risks to juggle,” he said. He was speaking at a meeting of experts of OPEC and allies, a group known as OPEC+, according to remarks published by OPEC. OPEC+ will meet on Monday. In December, OPEC+ decided to increase production by 0.5mn bpd from January as part of the 2mn bpd gradual rise this year but some members have questioned the need for a further boost due to spreading coronavirus infections. “Given fundamentals are weakening, it would be prudent for OPEC+ to hold output steady and there is a preference among some of the biggest producers to hold production flat,” Co-Founder of Energy Aspects think-tank, Amrita Sen said. OPEC’s leader Saudi Arabia has suggested a more cautious approach during previous meetings while OPEC member the United Arab Emirates and non-OPEC Russia have said they prefer a speedier increase. “Curbs on social and economic activity remain in place in a number of countries, and there is concern about the emergence of a pernicious new strain of the virus,” Barkindo said. (Reuters)  Saudi Central Bank: Value of mortgage loans surges 79% in November – The total amount of mortgage loans provided by Saudi banks increased to SR15.27bn in November 2020, up 79% compared to the same month in 2019, according to the Saudi Central Bank (SAMA). Villa loans accounted for 81% of the mortgages, while the total number of contracts in the month was 30,017. The huge increase in demand for mortgages is part of the Saudi government’s aim to increase home ownership in the Kingdom to 70% as part of the Vision 2030 targets, up from 50% in 2018. Office Managing Partner for KPMG in Riyadh, Khalil Ibrahim Al-Sedais said: “The lending space in the Saudi banking sector has been rife with continued growth in mortgage financing throughout the coronavirus disease (COVID-19) environment. “It is an endorsement of the housing demand in the country and testament of government support measures.” A clear indicator of the mortgage sector’s resilience can be seen in comments by Fabrice Susini, the CEO of the Saudi Real Estate Refinance Co. (SRC). The firm was set up in 2017 by the Saudi Public Investment Fund (PIF) with the aim of helping the mortgage sector and had set a target of 10% of total residential mortgage loans by the end of 2020 and 20% over the next few years. However, Susini told S&P in June that the time frames for SRC’s targets had been extended due to the “dynamic growth in the mortgage market in the past year.” (Zawya)  STC launches three mega data centers worth $266mn – STC, a leading telecom provider in Saudi Arabia, has launched three mega data centers in Riyadh, Jeddah and Madinah, with $266mn investment, aiming to host telecommunications equipment and digital cloud infrastructure. The new data centers will offer higher availability, more flexibility and faster time to the customer. STC adopted Next Generation build technology through modular and prefabricated solutions, affirming business continuity and service uptime. It also enables STC to optimize future expansions with Grow-On-Demand technology and Quick-To-Market solutions. The three new Data Centers have been built with over 150 prefabricated modules (PFM’s), fully equipped with power, thermal management and IT infrastructure. Providing 10.8 MW of critical IT power (white space ready) expandable to 16.8 MW, Phase 2 of the program already in construction will bring the total Critical IT Power to 40.8 MW. Furthermore, the short-term future will see STC expanding its mission critical white space to more than 105 MW of Data Center IT power across the Kingdom utilizing the same highly resilient model. The new design of the Data Centers has received Tier III Certification for Design & Construction from the global authority “The Uptime Institute” and is fully compliant with local regulations. (Zawya)  ACIG, SIEC submit capital raise requests to CMA – Allied Cooperative Insurance Group (ACIG) submitted a request to the Capital Market Authority (CMA) for a SR150mn capital raise via a rights issue, according to a bourse disclosure on Sunday. ACIG wants to increase its capital to SR291mn from SR141mn. In January, ACIG board recommended reducing the company’s capital by 29.5% from SR200mn to SR141mn and then raising it by SR150mn, in a bid to offset accumulated losses. In a separate statement, the Saudi Industrial Export Company (SIEC) said it submitted on December 31, 2020 a request to the CMA for a SR129.6mn capital increase by way of a rights issue. The capital hike will support the company’s future expansion projects and help reduce its losses. (Zawya)  Zain Unit gets micro-financing license in Saudi Arabia – Mobile phone operator Zain said its Saudi Arabian unit obtained a license from the Kingdom’s Central Bank to provide microfinancing services. The license will allow Tamam Financing Co. will offer Shari’ah-compliant micro-loans through a mobile application, Zain said. Zain already offers financial technology services in Iraq and Jordan through Zain Cash, a mobile platform for disbursement of monetary support by the United Nations High Commissioner for Refugees. (Bloomberg)  ADNOC Distribution acquires 15 service stations in Saudi Arabia – ADNOC Distribution, a top fuel and convenience retailer, has signed an agreement to acquire 15 service stations in Saudi Arabia, bringing the company’s total network to 17 across the Kingdom. Already the only fuel retailer operating in all seven emirates in the UAE, the addition of these new stations highlights the long-term smart growth strategy to also become a leading fuel operator in Saudi Arabia. The company sees value creation potential coming from uplift in fuel margins and the company’s integrated approach to managing fuel and non-fuel retail offerings. The purchase consideration for this acquisition Page 4 of 6
5. is $10mn. The acquisition is subject to certain conditions, including obtaining regulatory approvals. Located in the eastern region, with sites dedicated to both highway commuters as well as in-community convenience, the new stations will be refurbished in line with ADNOC Distribution brand standards and offer high quality fuel and retail services to customers, including convenience stores. (Zawya)  UAE's SNOC announces start of gas production at Mahani field in Sharjah – UAE’s Sharjah National Oil Corporation (SNOC) and partner ENI announced on Sunday the start of gas production at the recently discovered Mahani field in Sharjah, UAE state news agency WAM reported. SNOC and Italian energy giant Eni announced the discovery of Mahani last year, a new find of natural gas and condensate onshore in Sharjah, and the first in the Emirate since the early 1980s. Production would start at the Mahani-1 gas well in the Mahani field in Area-B in Sharjah, WAM reported. “The announcement comes within one year of the discovery of gas in the Mahani field, which represents the first new onshore discovery in Sharjah in 37 years,” it said. Last March, SNOC said the impact of the coronavirus pandemic would delay the startup of production at its Mahani gas exploration project by up to two months. (Reuters)  Oman expects public debt to top OMR21.7bn by end-2021 – Oman expects its public debt to reach around OMR21.7bn by the end of 2021, with international borrowing making up 76% of total public debt, a finance ministry document showed. That would mean a rise of about 23% since end-2019, when the figure stood at OMR17.6bn, according to a government bond prospectus. Oman expects a 2021 budget deficit of OMR2.24bn as public spending of OMR10.88bn tops revenue of OMR8.64bn, the finance ministry document showed. To make up the shortfall the government aims to raise about OMR1.6bn through borrowing and draw OMR600mn from its reserves. Rated below investment grade by all major credit ratings agencies, Oman has piled on debt at breakneck pace in recent years and faces a tough repayment schedule. It introduced a provision for debt repayment of OMR150mn for 2021 to cover part of its future loan instalments, the finance ministry said in a tweet on Saturday, citing Finance Minister Sultan al-Habsi. Oman expects total debt service payments of OMR1.2bn in 2021, the ministry document said. Its debt repayment provisions will total 600 million rials over its five-year “fiscal balance” plan of 2021-2025, the minister added. Preliminary results from the 2020 budget showed a OMR4.2bn budget deficit, larger than the OMR2.5bn that had been budgeted for, the ministry document showed. (Reuters) Page 5 of 6
6. 0 .5% 100.0 (0.9%) Saudi Arabia 105.3 80.0 60.0 Dec-16 Dec-17 Dec-18 QSE Index Dec-19 S&P Pan Arab 0.6% (0.1%) (1.0%) Dec-20 Bahrain* 115.7 0.0% (0.5%) Qatar 118.2 120.0 0.7% 0.0% Kuwait* 140.0 0.6% Dubai 0.9% 1.0% 160.0 Abu Dhabi Daily Index Performance Oman Rebased Performance S&P GCC Source: Bloomberg Source: Bloomberg (*Data as of December 31, 2020) Asset/Currency Performance Close ($) 1D% WTD% YTD% Gold/Ounce 1,898.67 0.0 0.8 0.0 26.40 (0.0) 2.2 (0.0) DJ Industrial# Silver/Ounce Crude Oil (Brent)/Barrel (FM Future)# Crude Oil (WTI)/Barrel (FM Future)# # LPG Butane (Arab Gulf)/Ton Close 1D%* WTD%* YTD%* 2,690.04 0.0 1.2 14.1 30,606.48 0.0 1.3 7.2 500# 3,756.07 0.0 1.4 16.3 12,888.28 0.0 0.7 43.6 399.03 0.0 1.6 (4.0) 13,718.78 0.0 1.8 3.5 MSCI World Index# 51.80 0.0 1.0 (21.5) S&P 48.52 0.0 0.6 (20.5) NASDAQ 100# 2.39 0.0 (7.7) 14.4 STOXX 600# 75.25 0.0 7.5 82.4 DAX# Natural Gas (Henry Hub)/MMBtu# LPG Propane (Arab Gulf)/Ton# Global Indices Performance # 75.00 0.0 7.5 14.5 FTSE 100 6,460.52 0.0 (0.2) (14.3) 1.22 (0.0) 0.2 (0.0) CAC 40# 5,551.41 0.0 1.4 (7.1) Yen 103.20 (0.0) (0.2) (0.0) Nikkei# 27,444.17 0.0 3.1 16.0 GBP 1.37 0.0 0.8 0.0 1,291.75 0.0 2.9 0.0 Euro MSCI EM CHF 1.13 (0.1) 0.4 (0.1) AUD# 0.77 0.0 1.2 9.6 HANG SENG# USD Index# 89.94 0.0 (0.3) (6.7) BSE SENSEX RUB# 74.41 0.0 0.3 0.0 BRL # 0.19 0.0 0.4 (22.6) Source: Bloomberg, #Market was closed on January 01, 2021 SHANGHAI SE Composite# Bovespa# # RTS 3,473.07 0.0 2.5 13.9 27,231.13 0.0 3.2 (3.4) 47,868.98 0.4 2.5 0.4 119,017.20 0.0 1.9 2.9 1,387.46 0.0 0.7 (10.4) Source: Bloomberg (*$ adjusted returns, #Market was closed on January 01, 2021) Contacts Saugata Sarkar, CFA, CAIA Shahan Keushgerian Zaid al-Nafoosi, CMT, CFTe Head of Research Senior Research Analyst Senior Research Analyst Tel: (+974) 4476 6534 Tel: (+974) 4476 6509 Tel: (+974) 4476 6535 saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa zaid.alnafoosi@qnbfs.com.qa Mehmet Aksoy, PhD QNB Financial Services Co. W.L.L. Senior Research Analyst Contact Center: (+974) 4476 6666 Tel: (+974) 4476 6589 PO Box 24025 mehmet.aksoy@qnbfs.com.qa Doha, Qatar Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services Co. W.L.L. (“QNBFS”) a wholly-owned subsidiary of Qatar National Bank (Q.P.S.C.). QNB FS is regulated by the Qatar Financial Markets Authority and the Qatar Exchange. Qatar National Bank (Q.P.S.C.) 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. QNBFS accepts no liability whatsoever for any direct or indirect losses arising from use of this report. Any investment decision should depend on the individual circumstances of the investor and be based on specifically engaged investment 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. 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. For reports dealing with Technical Analysis, expressed opinions and/or recommendations may be different or contrary to the opinions/recommendations of QNBFS Fundamental Research as a result of depending solely on the historical technical data (price and volume). 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. This report may not be reproduced in whole or in part without permission from QNBFS. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS. Page 6 of 6