Qatar: Weekly Market Report - 30 March

Transcription

1. ` QSE Index and Volume Regional Indices Qatar (QSE)* Dubai Abu Dhabi Saudi Arabia# Kuwait Oman Bahrain Close WTD% MTD% YTD% 10,390.60 3,480.43 4,443.53 6,948.96 7,029.43 5,550.60 1,355.99 (0.5) 0.5 (1.2) 1.0 (0.2) (1.5) (1.4) (2.9) (4.1) (2.4) (0.3) 3.6 (4.0) 0.5 (0.4) (1.4) (2.3) (3.6) 22.3 (4.0) 11.1 10,416.83 10,428.53 10,412.85 8,000,000 10,390.60 10,340 0 26-Mar 27-Mar 28-Mar 29-Mar Volume Market Indicators Value Traded (QR mn) QSE Index Week ended Mar 30 , 2017 1,571.5 Week ended Mar 23 , 2017 1,810.4 556,345.3 559,556.2 (0.6) 59.2 50.7 16.7 20,921 19,951 4.9 44 44 0.0 23:20 26:17 – Exch. Market Cap. (QR mn) Volume (mn) Number of Transactions Companies Traded Market Breadth Market Indices Total Return ALL Share Index Banks and Financial Services Industrials Transportation Real Estate Insurance Telecoms Consumer Goods & Services Al Rayan Islamic Index Market Indices Weekly Index Performance 1.4% 1.0% 0.7% 30-Mar Close 17,220.93 2,924.40 3,011.36 3,300.48 2,328.07 2,385.61 4,279.45 1,187.35 6,422.11 4,119.06 WTD% (0.5) (0.5) (1.0) (0.4) (0.9) 1.4 0.1 (3.8) (0.8) (0.4) MTD% (1.3) (1.4) (0.3) (2.9) (6.7) 1.0 (3.0) (4.7) 0.2 (0.1) Chg. % (13.2) YTD% 2.0 1.9 3.4 (0.2) (8.6) 6.3 (3.5) (1.5) 8.9 6.1 0.5% 0.0% (0.2%) (1.4%) (0.5%) (1.2%) (2.1%) Weekly Exchange Traded Value ($ mn) 431.51 361.67 353.55 3,670.78 446.07 45.88 34.50 Exchange Mkt. Cap. ($ mn) 152,772.4 105,905.7# 116,480.7 433,260.0 93,587.1 22,330.2 22,117.0 TTM P/E** 15.4 14.8 12.7 17.2 21.2 11.0 8.9 (1.4%) (1.5%) Oman (0.7%) Bahrain Foreign institutions remained bullish with net buying of QR98.1mn vs. net buying of QR501.3mn in the prior week. Qatari institutions remained bearish with net selling of QR43.2mn vs. net selling of QR414.9mn the week before. Foreign retail investors remained bullish with net buying of QR12.4mn vs. a net buying of QR2.8mn in the prior week. Qatari retail investors remained bearish with net selling of QR67.2mn vs. net selling of QR89.2mn the week before. In 2017 YTD, foreign institutions bought (on a net basis) ~$777.3mn worth of equities. 10,410 Abu Dhabi Trading volume increased by 16.72% to reach 59.18mn shares versus 50.70mn shares in the prior week. The number of transactions increased by 4.86% to reach 20,921 transactions versus 19,951 transactions in the prior week. The Banks and Financial Services sector led the trading volume, accounting for 33.0%, followed by the Telecoms sector, which accounted for 32.1% of the overall trading volume. Vodafone Qatar (VFQS) was the top volume traded stock during the week with total traded volume of 18.4mn shares. 10,461.81 Qatar (QSE)* Trading value during the week decreased by 13.20% to reach QR1.57bn versus QR1.81bn in the prior week. The Banks and Financial Services sector led the trading value during the week, accounting for 46.1% of the total trading value. The Real Estate sector was the second biggest contributor to the overall trading value, accounting for 16.1% of the total trading value. MARK was the top value traded stock during the week with total traded value of QR174.7 million (mn). 16,000,000 Kuwait Masraf Al Rayan (MARK), Ooreedo (ORDS) and QNB Group (QNBK) were the primary contributors to the weekly index decline. MARK was the biggest contributor to the index’s weekly decline, erasing 38.2 points from the index. ORDS was the second biggest contributor to the decline, erasing 27.6 points from the index. Moreover, QNBK deleted 9.9 points from the index. On the other hand, Barwa Real Estate (BRES) added 16.0 points. 10,480 Dubai The Qatar Stock Exchange (QSE) Index declined 54.64 points, or 0.52% during the trading week to close at 10,390.60. Market capitalization declined by 0.57% to QR556.3 billion (bn) versus QR559.6bn at the end of the previous week. Of the 44 listed companies, 23 companies ended the week higher, while 20 fell and 1 remained unchanged. Al Khaleej Takaful Insurance (AKHI) was the best performing stock for the week with a gain of 14.2% on 165,166 shares traded. On the other hand, Qatar Islamic Insurance (QISI) was the worst performing stock with a decline of 7.8% on 119,501 shares traded. Saudi Arabia Market Review and Outlook P/B** Dividend Yield 1.5 1.2 1.4 1.6 1.3 1.1 0.8 3.7 3.9 5.4 3.5 3.4 5.2 5.6 # Source: Bloomberg, country exchanges and Zawya (** Trailing Twelve Months; * Value traded ($ mn) do not include special trades, if any; Data as of March 29, 2017) Page 1 of 8
2. News Economic , Market & Corporate News  CI: CBQK ratings get ‘stable outlook’ – Capital Intelligence (CI), a global credit rating agency, has placed Commercial Bank of Qatar’s (CBQK) financial strength rating (FSR) at ‘BBB+’ and the long term foreign currency rating at ‘A-’ with “stable” outlook. The bank’s good capital position in terms of capital adequacy ratio and the high CET-1 (common equity tier-1) component following this year’s rights issue largely offset the weakening asset quality, tight liquidity metrics (albeit that some are better than peer group averages) and dependence on purchased funds given weak deposit generation. If low free capital (at the end of 2016) would have persisted, it would have weakened the capital position as a supporting factor but the January 2017 rights issue will have added sufficient free capital to have substantially improved the free capital position, at least for the present, CI said. (Gulf-Times.com) and grow technology companies in the UK and Qatar. The amount worth $70mn will be used to invest in companies, targeting under $10mn investments in businesses with established track records, management teams and certifications with cutting-edge technology. The remainder will be used for organic growth to extend Vauban’s current offering and invest in research and development. Vauban will create research facilities in the UK and Qatar harnessing the best of British and Qatari technologies and talent. The partnership with VCS, a Qatari company, was forged five months ago. Speaking to Gulf Times on the sidelines of the Qatar-UK Business & Investment Forum in London and Birmingham, Mitchell Scherr, CEO of Vauban Group, said the company intends to invest in both Qatar and UK cyber security, leveraging its backgrounds in software law and security. (Gulf-Times.com)  QC identifies obstacles facing tourism sector – The Tourism and Exhibition Committee of Qatar Chamber (QC) held a meeting at QC's headquarters in which members discussed the main obstacles facing the development of the tourism sector and exhibitions in Qatar. The meeting reviewed a number of the program to be launched by Qatar Tourism Authority and Qatar Airways in the coming period, QNA reported. Sheikh Hamad bin Ahmed bin Abdullah Al Thani, board member of Qatar Chamber and Chairman of the Tourism and Exhibition Committee said that the tourism sector is one of the sectors that plays an important role in the economic development process. The Tourism Committee has highlighted a number of challenges facing the tourism sector. (Peninsula Qatar)  ERES sets initial price guidance for five-year dollar Sukuk – Qatari real estate developer and operator Ezdan Holding Group (ERES) has set initial price guidance for a five-year US dollardenominated Sukuk issue in the 5.125% area, a document issued by one of the lead banks showed. The Wakalastructured, senior unsecured and Regulation S registered Sukuk issue is expected to price on March, 29, 2017. HSBC and Mashreqbank are the global coordinators, joined by Dubai Islamic Bank, Emirates NBD, Natixis and Standard Chartered as book-runners. The issue is expected to obtain a Ba1 rating from Moody's and BBB- from Standard & Poor's, the document showed. (Reuters)  BMI: Qatar among top performers in MENA oil & gas downstream segment – Supported by modern and efficient refining facilities that surpass domestic demand needs, Qatar, the UAE and Saudi Arabia are the region’s top performers in the oil & gas downstream segment, BMI Research said in a new report. Similar to the upstream Risk/Reward Index (RRI), MENA’s (Middle East and North Africa) downstream RRI is supported by strong country rewards, including substantial feedstock availability, fuels export capacity and a strong domestic demand outlook, BMI said. Excess fuels production capacity beyond local consumption needs is critical, given fuel subsidies in domestic market limit margins, it said. This propels top MENA markets above the global average score. Along with strong rewards showing, the UAE and Qatar are further supported by among the most stable economic and political environments in the region. Nonetheless, despite having the top two positions in the MENA downstream RRI, the UAE and Qatar rank 14th and 20th in BMI’s universe of some 87 global markets. According to BMI, outperformers in the MENA downstream RRI are identified by good access to feedstock, modern refining facilities and a stable economic and political outlook. Countries with low refining complexity high levels of political and economic instability hold the highest risk. (Gulf-Times.com)  VCS to acquire and grow technology companies in the UK and Qatar – Vauban Group, a cyber security solutions provider based in Doha and London, this week launched a $100mn investment vehicle, Vauban Cyber Security (VCS), to acquire  Qatar to sell up to $900mn shares in Santander Brazil – Qatar Holding is selling as much as $900mn in shares of Banco Santander’s Brazilian unit, according to a prospectus to be filed. Qatar is offering 80mn units that are composed of one common share and one preferred share in Banco Santander and will be sold in an international sale being underwritten by banks including Credit Suisse Group and Bank of America’s Merrill Lynch unit, according to the prospectus. Units are being offered in the form of American depositary shares, which closed at $9.77 on the New York Stock Exchange. Qatar also agreed an overallotment option of 12mn shares. Qatar, the world’s biggest exporter of liquefied natural gas, is a major investor on both sides of the Atlantic. It owns London landmarks such as the Harrods, The Savoy hotel and the Shard skyscraper. It also owns stakes in Credit Suisse and Deutsche Bank. (Gulf-Times.com)  QCB’s international reserves decline more than 7% YoY in January – Faster shrinkage in foreign securities portfolio led the Qatar Central Bank’s (QCB) net international reserves decline more than 7% YoY to QR122.89bn in January 2017. Foreign securities held by QCB showed more than 16% YoY fall to QR76.02bn, while balances with foreign banks grew more than 11% to QR43.1bn in January 2017, said the latest monthly publication of the central bank. While the gross international reserves were down more than 7% to QR124.18bn, the central bank’s foreign liabilities was almost flat at QR1.29bn; leaving QR122.89bn as net international reserves. The central bank’s special drawing rights (with the International Monetary Fund) also came down more than 1% to QR1.35bn in January 2017; Page 2 of 8
3. even as gold holdings surged about 28 % to QR3.72bn. (GulfTimes.com)  Qatar to invest £5bn in the UK over five years – Qatar plans to increase its investments in the UK by £5bn within the next five years, deepening the countries’ trade ties as London prepares to quit the European Union (EU). The Gulf country already has about £35bn of investments in the UK, ranging from the Harrods department store to the Savoy hotel and the Shard skyscraper. It is now weighing opportunities in areas including infrastructure, real-estate and technology, HE the Finance Minister Ali Sherif al-Emadi said. The plan will be carried out through the Qatar Investment Authority, the country’s sovereign wealth fund, and its subsidiaries, he said. Al-Emadi is part of a delegation of more than 400 Qatari officials and business executives visiting London and Birmingham for a two-day investment forum. Meanwhile, Al Emadi said Qatar’s banking sector is strong enough to withstand the fall in oil prices. The country’s banking system has time and again proved that it is resilient to downturns. The banking sector will withstand this crisis as well, he said while speaking at a panel discussion on “Qatar’s Financial Power” in the Qatar-UK Business & Investment Forum in London. He said, “Qatar’s banking sector has always proved that it is resilient to global downturns. It is doing really well despite the slump in oil prices. The banks were funding projects at a time when the oil prices were at $20. Now the prices are ranging between $50 and $60.” (Gulf-Times.com, Peninsula Qatar)  Oil output cut helps Qatar register 74% YoY growth in trade surplus to QR12.32bn in February – Oil production cut deal, effective from January 1, helped Qatar register 74% YoY growth in trade surplus to QR12.32bn in February with its crude and gas exports’ value soaring high in double digits. The country’s foreign merchandise trade surplus expanded more than 12% MoM in February mainly on faster deceleration in imports, said the figures released by the Ministry of Development Planning and Statistics (MDPS). In absolute terms, Japan, South Korea, India, the UAE and China were among the largest export markets of Qatar; while imports mainly came from China, the US, the UAE, Japan and Germany in February 2017. A robust expansion in shipments to the UAE, South Korea and Japan led Qatar’s total exports (valued freeon-board) to increase 22.5% YoY to QR20.47bn in February. On a monthly basis, it was up mere 0.8%. The country’s total exports of domestic products increased 18.4% YoY to QR18.89bn in February 2017. Qatar’s exports of non-crude rose faster YoY by 68% to QR1.25bn, while crude rose by 46.8% to QR3.48bn and petroleum gases and other gaseous hydrocarbons by 18.9% to QR12.2bn. On the other hand, other commodities declined 24% to QR1.95bn. (Gulf-Times.com)  QFC’s global outreach to promote Qatar as ideal investment location – The Qatar Financial Center (QFC) has kick-started its 2017 global outreach with its roadshow in Germany, showcasing the country and its corporate sector before professionals from German corporations and private companies in Berlin and Munich. The visit to Germany comes as part of a number of roadshows planned during 2017 that would see the QFC and its senior officials visit major financial capitals across Europe, Asia and North America, a spokesman of the center said. The QFC Germany roadshow is one of many initiatives that seek to further develop bilateral and economic relations between the two countries, and discuss opportunities to expand in the Middle East through the QFC platform. The roadshow also provided attendees with an opportunity to network with some of the Middle East and North Africa region’s most influential decision-makers, including Ghorfa, AHK, Manateq and Rödl & Partner. Relations between Germany and Qatar have continued to strengthen over the past few years with Germany emerging as the 12th largest trading partner for Qatar with a 2.4% of the total value of trade exchange. (Gulf-Times.com)  BMI: Office space to grow by 2mn square meters by 2019 – Around 2mn square meters of office space is expected to enter Qatari market by 2019, BMI Research has said in its latest report. The office sector in Qatar benefits from a strong development pipeline and higher levels of demand on the back of greater government spending, the report said. According to the report, Doha will be central for office developments in the country as the city is the focus of most tenant interest and will see continued higher levels of demand leading up to the 2022 FIFA World Cup with a particular appetite for premium grade units from international investors. On the other hand, the report said, Al Khor and Al Wakra are seeing little interest for higher-grade space, as developers are unwilling to build due to the economic focus on Doha. The commercial real estate market will also continue to benefit from Qatar's strong macroeconomic fundamentals, including low unemployment and a diversified labor market, which will support business sentiment, the report said. (Qatar Tribune)  QIA to move $100bn portfolio to finance ministry – Qatar Investment Authority (QIA) will transfer oversight of its approximately $100bn domestic portfolio to the country’s finance ministry as the sovereign fund undergoes its second overhaul in three years, people with knowledge of the matter said. QIA’s stakes in companies such as Qatar Airways, QNB Group and telecom provider Ooredoo will come under the control of HE the Finance Minister, Ali Sherif al-Emadi, the people said, asking not to be identified because the matter is private. Qatar Investment Authority declined to comment and the finance ministry didn’t immediately respond to emails and texts. Qatar, the world’s richest country per capita, is overhauling its $335bn sovereign fund as an ongoing slump in oil prices slows the pace of vast wealth accumulation and buyouts of trophy assets around the globe, including holdings in Hollywood, London residential property, British and Swiss banks, as well as a European soccer team. (Gulf-Times.com)  Invitation to subscribe in the shares capital increase of DHBK – The board of directors of Doha Bank (DHBK) hereby invites its shareholders to subscribe in the new shares, by way of a rights issue, as approved by the bank’s Extraordinary General Assembly meeting (EGM) held on March 6, 2017. During the meeting, the EGM resolved to increase the bank’s capital from QR2,583,722,520 up to QR3,100,467,024 “representing an increase of 20% from the current paid-up share capital” by way of offering 51,674,450 new ordinary shares for subscription to DHBK’s shareholders and the holders of subscription rights in the proportion of (1) one share for every (5) five shares held (the Rights Issue) in accordance with the provisions of the Qatar Commercial Companies Law No. (11) of 2015 and the Page 3 of 8
4. trading in rights issue rules issued by the Qatar Financial Markets Authority (QFMA). Priority will be given to DHBK’s eligible shareholders who are registered in the shareholders’ register with Qatar Central Security Depository (QCSD) at the close of trading on March 15, 2017 and to the holders of subscription rights (as defined below). Shares will be offered at a price of QR25 each, QR10 nominal value plus QR15 issue premium for qualified shares and according to the pricing mechanism set by Qatar Exchange and the competent authorities. Trading of the subscription rights will commence on April 4, 2017 and end on April 17, 2017 and the subscription period for shareholders and holders of subscription rights will start on April 25, 2017. (QSE)  QSTP product development fund to accelerate technology innovation in private sector – Qatar Science and Technology Park (QSTP) has launched a Product Development Fund (PDF) as part of its mission to accelerate technology development and innovation within the private sector in Qatar. Local small and medium-sized enterprises (SMEs) that are at least 20% Qatari-owned and have less than 250 employees are eligible to apply for the PDF. Applications will be assessed by a committee of industry experts and QSTP senior officials, on an iterative basis, to ensure they have a particular focus on business viability and are fully committed to widening the technology landscape in Qatar. The PDF is a subsidy-grant through which QSTP supports SMEs investing their own money into product development by matching their investment dollar-for-dollar. The scheme will contribute to the diversification of Qatar’s economy by funding SMEs and startups that aim to develop new, tech-rich products, or accelerate the development of existing products or services. (Gulf-Times.com)  Qatar property market to witness continuous growth – Qatar’s real estate market remains resilient to global economic headwinds and will witness “continuous growth” on the back of the government’s wise policies, an official has said. “I highly advise people to invest in Qatar, which is one of the countries where the value of their real estate investments will always grow,” Just Real Estate (JRE) Chairman Nasser al-Ansari said to Gulf Times on the sidelines of the opening ceremony for JRE’s new 1,000 square meters luxury real estate sales center in Al Shoumoukh Tower. Al-Ansari pointed out that the market value of land at West Bay Lagoon grew from QR35 per square foot a few years ago to QR1,000 per square foot today. “I always tell people to buy real estate because it is a good investment,” al-Ansari stressed, adding that 85% of JRE’s portfolio is focused on Qatar, while the remaining 10% will be distributed in the UK and 5% in other countries. He added, “These are exciting times for Qatar, its real estate sector, and for Just Real Estate. This move to a new home is a sign of our intent to continue as the leader in property solutions. From our new base, we can more efficiently lead, guide, and inform our clients about real estate investment opportunities.” (GulfTimes.com) Page 4 of 8
5. Qatar Stock Exchange Top Gainers 15 .0% Top Decliners 14.2% 0.0% 10.0% -3.0% 5.4% 5.0% -2.9% -3.6% 5.1% 4.7% 4.5% -5.3% -6.0% -6.3% 0.0% Al Khaleej Takaful Insurance National Leasing Zad Holding Mazaya Qatar Widam Food Co. -7.8% -9.0% Qatar Islamic Insurance Medicare Group Ooredoo Masraf Al Rayan Al Ahli Bank Source: Qatar Stock Exchange (QSE) Source: Qatar Stock Exchange (QSE) Most Active Shares by Value (QR Million) 174.7 180.0 Most Active Shares by Volume (Million) 172.1 21.0 18.4 125.5 114.7 120.0 14.0 91.8 6.1 7.0 60.0 5.7 4.0 4.0 Masraf Al Rayan Mazaya Qatar 0.0 0.0 Vodafone Qatar National Leasing Masraf Al Rayan Vodafone Qatar QNB Group National Leasing Industries Qatar Source: Qatar Stock Exchange (QSE) Source: Qatar Stock Exchange (QSE) Investor Trading Percentage to Total Value Traded 100% 80% 60% 25.89% 12.08% 19.79% 42.24% Net Traded Value by Nationality (QR Million) 110 19.65% Non-Qatari 486 11.29% 597 22.54% 40% 20% Ezdan Real Estate 46.52% (110) Qatari 1,085 975 0% Buy Sell Qatari Individuals Qatari Institutions Non-Qatari Individuals Non-Qatari Institutions Source: Qatar Stock Exchange (QSE) (200) - 200 400 Net Investment 600 Total Sold 800 1,000 1,200 Total Bought Source: Qatar Stock Exchange (QSE) Page 5 of 8
6. TECHNICAL ANALYSIS OF THE QSE INDEX Source : Bloomberg The Index closed flattish on the week and lost 54.6 points, taking the Index to 10,390.60 as it lost a marginal 0.52% compared to last week’s closing. The Index has been flat in the past three weeks while moving around its moving averages. No particular direction can be stipulated at this point as we await stronger moves on the Index and/or on the technical indicators. Support level remains at 10,300, and resistance level at the 11,500 level. DEFINITIONS OF KEY TERMS USED IN TECHNICAL ANALYSIS RSI (Relative Strength Index) indicator – RSI is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between 0 to 100. The index is deemed to be overbought once the RSI approaches the 70 level, indicating that a correction is likely. On the other hand, if the RSI approaches 30, it is an indication that the index may be getting oversold and therefore likely to bounce back. MACD (Moving Average Convergence Divergence) indicator – The indicator consists of the MACD line and a signal line. The divergence or the convergence of the MACD line with the signal line indicates the strength in the momentum during the uptrend or downtrend, as the case may be. When the MACD crosses the signal line from below and trades above it, it gives a positive indication. The reverse is the situation for a bearish trend. Candlestick chart – A candlestick chart is a price chart that displays the high, low, open, and close for a security. The ‘body’ of the chart is portion between the open and close price, while the high and low intraday movements form the ‘shadow’. The candlestick may represent any time frame. We use a one-day candlestick chart (every candlestick represents one trading day) in our analysis. Doji candlestick pattern – A Doji candlestick is formed when a security's open and close are practically equal. The pattern indicates indecisiveness, and based on preceding price actions and future confirmation, may indicate a bullish or bearish trend reversal. Shooting Star/Inverted Hammer candlestick patterns – These candlestick patterns have a small real body (open price and close price are near to each other), and a long upper shadow (large intraday movement on the upside). The Shooting Star is a bearish reversal pattern that forms after a rally. The Inverted Hammer looks exactly like a Shooting Star, but forms after a downtrend. Inverted Hammers represent a potential bullish trend reversal. Page 6 of 8
7. Com pany Nam e Price March 30 % Change WTD % Change YTD Market Cap. QR Million TTM P/E P/B Div. Yield Qatar National Bank 146.10 (0.61) (1.34) 134,944 11.1 2.5 2.2 Qatar Islamic Bank 102.30 0.39 (1.54) 24,173 11.9 1.7 4.6 Commercial Bank of Qatar 33.95 (0.15) 4.46 13,086 41.3 0.7 8.5 Doha Bank 31.40 (0.16) (6.82) 8,113 10.1 0.9 9.2 Al Ahli Bank 34.00 (2.86) (8.46) 6,812 10.8 1.6 2.8 Qatar International Islamic Bank 68.50 0.74 9.08 10,369 13.2 1.6 5.8 Masraf Al Rayan 42.15 (3.55) 12.10 31,613 15.3 2.5 4.2 Al Khalij Commercial Bank 14.60 0.00 (14.12) 5,256 12.3 0.7 5.1 Qatar First Bank 8.63 0.94 (16.21) 1,726 N/A 1.0 N/A National Leasing 19.05 5.37 24.35 943 187.0 0.9 2.6 Dlala Holding 22.62 0.94 5.26 643 164.6 2.5 N/A Qatar & Oman Investment 9.79 0.20 (1.61) 308 23.1 1.0 5.1 Islamic Holding Group Banking and Financial Services 66.60 4.06 9.18 377 91.0 2.6 1.5 Zad Holding 89.50 5.05 0.34 1,171 11.5 1.4 4.5 9.90 3.12 (1.98) 114 N/A 1.2 N/A Qatar German Co. for Medical Devices 238,362 Salam International Investment 10.55 0.48 (4.52) 1,206 10.6 0.7 7.6 Medicare Group 95.70 (6.27) 52.15 2,693 41.4 2.7 1.9 Qatar Cinema & Film Distribution 30.00 1.87 9.29 188 44.1 1.4 3.3 136.00 (0.73) 1.95 13,522 15.3 1.9 4.7 Widam Food Co. 65.20 4.49 (4.12) 1,174 N/A 3.9 5.4 Mannai Corp. 80.00 (1.48) 0.00 3,650 6.8 1.4 5.0 168.40 0.42 (4.05) 3,368 16.9 2.4 5.3 Qatar Fuel Al Meera Consumer Goods Consum er Goods and Services 27,086 Qatar Industrial Manufacturing 43.70 (1.80) (1.80) 2,077 10.7 1.4 6.9 Qatar National Cement 78.60 (1.75) 0.53 5,137 10.8 1.7 4.6 110.30 (0.63) (6.13) 66,732 22.6 2.0 3.6 1.6 Industries Qatar Qatari Investors Group 61.20 (2.39) 4.62 7,609 27.5 3.0 220.00 0.50 (3.08) 24,200 15.7 2.9 3.4 Aamal 14.35 (0.35) 5.28 9,041 19.5 1.2 N/A Gulf International Services 28.30 2.35 (9.00) 5,259 79.6 1.4 3.5 Mesaieed Petrochemical Holding Industrials 14.93 1.36 (5.51) 18,757 18.8 1.3 4.0 Qatar Insurance Doha Insurance 70.30 (0.28) (4.66) 19,495 17.5 2.4 1.9 16.64 (1.54) (8.57) 832 11.5 0.8 3.6 Qatar General Insurance & Reinsurance 39.20 1.55 (16.60) 3,430 15.6 0.5 3.8 Al Khaleej Takaful Insurance 21.70 14.21 2.84 554 42.2 1.0 4.6 Qatar Islamic Insurance Insurance 63.00 (7.76) 24.51 945 14.9 2.7 5.6 United Development 19.70 0.61 (4.60) 6,975 11.2 0.6 6.3 Barw a Real Estate 35.75 3.62 7.52 13,911 8.7 0.8 7.0 Ezdan Real Estate 15.80 0.70 4.57 41,909 23.0 1.4 3.2 Mazaya Qatar Real Estate Development Real Estate 14.43 4.72 0.28 1,591 21.3 1.1 N/A Ooredoo 96.60 (5.29) (5.11) 30,943 14.1 1.4 3.6 9.34 4.01 (0.32) 7,896 N/A 1.7 N/A Qatar Navigation (Milaha) 76.50 (0.65) (19.98) 8,761 12.2 0.6 4.6 Gulf Warehousing Qatar Gas Transport (Nakilat) 52.40 (0.19) (6.43) 3,071 14.7 2.0 3.1 21.25 (1.16) (7.97) 11,773 12.4 2.2 4.7 Qatar Electricity and Water Vodafone Qatar Telecom s Transportation Qatar Exchange 138,810 25,256 64,387 38,839 23,605 556,345 Source: Bloomberg Page 7 of 8
8. Contacts Saugata Sarkar 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 Mohamed Abo Daff QNB Financial Services Co. W.L.L. Senior Research Analyst Contact Center: (+974) 4476 6666 Tel: (+974) 4476 6589 PO Box 24025 mohd.abodaff@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.). QNBFS 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 8 of 8