Qatar: Weekly Market Report

Transcription

1. ` QSE Index and Volume Regional Indices Qatar (QSE)* Dubai Abu Dhabi Saudi Arabia# Kuwait Oman Bahrain Close WTD% MTD% YTD% 8,573.99 3,108.53 4,585.40 7,900.28 6,633.44 4,773.51 1,318.40 (2.9) (1.3) 0.2 0.8 (0.4) (0.6) (1.2) (0.9) (4.2) (0.3) 6.5 (2.1) (4.6) (3.8) 0.6 (7.8) 4.3 9.3 3.5 (6.4) (1.0) 6,000,000 8,573.99 8,553.14 8,500 0 25-Mar 26-Mar 27-Mar 28-Mar Volume Market Indicators Value Traded (QR mn) QSE Index Week ended March 29 , 2018 1,029.4 Week ended March 22 , 2018 1,653.6 470,521.2 485,441.6 (3.1) 43.1 76.7 (43.8) 16,924 24,688 (31.4) 45 44 2.3 8:37 24:18 – 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 1.2% 0.8% 29-Mar Close 15,105.76 2,525.17 2,796.74 2,886.66 1,807.12 1,833.19 3,102.84 1,091.30 5,402.81 3,549.24 WTD% (2.6) (3.0) (3.1) (2.5) (3.6) (4.1) (6.6) (0.5) 0.5 (2.9) MTD% 1.6 3.2 2.3 6.5 (4.0) 7.9 (2.4) (0.8) 3.8 (1.0) Chg. % (37.7) YTD% 5.7 3.0 4.3 10.2 2.2 (4.3) (10.8) (0.7) 8.9 3.7 0.2% 0.0% (0.4%) (0.6%) (1.2%) (2.4%) (1.2%) (1.3%) (3.6%) Weekly Exchange Traded Value ($ mn) 285.81 338.20 210.96 5,976.84 203.62 91.06 21.65 Exchange Mkt. Cap. ($ mn) 129,205.1 105,244.5# 126,696.4 500,986.1 93,279.3 20,157.2 19,947.8 TTM P/E** 13.3 11.0 11.8 17.4 15.3 12.2 8.7 Qatar (QSE)* (2.9%) Dubai Foreign institutions remained bullish with net buying of QR65.6mn vs. net buying of QR110.5mn in the prior week. Qatari institutions remained bearish with net selling of QR109.3mn vs. net selling of QR4.3mn in the week before. Foreign retail investors turned bullish with net buying of QR16.8mn vs. net selling of QR46.6mn in the prior week. Qatari retail investors turned bullish with net buying of QR26.9mn vs. net selling of QR59.5mn the week before. Foreign institutions bought (on a net basis) ~$125mn worth of Qatari equities since the beginning of 2018. 8,693.98 Bahrain Trading volume decreased by 43.8% to reach 43.1mn shares versus 76.7mn shares in the prior week. The number of transactions decreased by 31.4% to reach 16,924 transactions versus 24,688 transactions in the prior week. The Banks and Financial Services sector led the trading volume, accounting for 44.2%, followed by the Industrials sector which accounted for 19.7% of the overall trading volume. Qatar First Bank (QFBQ) was the top volume traded stock during the week with 10.8mn shares. 8,711.91 8,650 Oman Trading value during the week decreased by 37.7% to reach QR1.0bn versus QR1.7bn in the prior week. The Banks and Financial Services sector led the trading value during the week, accounting for 42.1% of the total trading value. The Industrials sector was the second biggest contributor to the overall trading value, accounting for 24.5% of the total trading value. QNBK was the top value traded stock during the week with total traded value of QR132.8mn. 12,000,000 8,752.66 Kuwait QNB Group (QNBK), Industries Qatar (IQCD) and Masraf Al Rayan (MARK) were the primary contributors to the weekly index decline. QNBK was the biggest contributor to the index’s weekly decrease, deleting 60.0 points from the index. IQCD was the second biggest contributor to the mentioned decline, shaving off 40.5 points from the index. Moreover, MARK deleted 24.1 points from the index. However, Vodafone Qatar (VFQS) added 3.2 points to the index. 8,800 Abu Dhabi The Qatar Stock Exchange (QSE) Index decreased 251.71 points or 2.85% during the trading week to close at 8,573.99. Market capitalization declined by 3.1% to QR470.5 billion (bn) versus QR485.4bn at the end of the previous trading week. Of the 45 listed companies, 8 companies ended the week higher, while 37 declined and 1 company remained unchanged. Qatar Cinema (QCFS) was the best performing stock for the week with a gain of 11.1% on only 685 shares traded. On the other hand, Qatar Islamic Insurance Company (QISI) was the worst performing stock for the week with a decline of 16.9% on 1.7 million (mn) shares traded. Saudi Arabia Market Review and Outlook P/B** Dividend Yield 1.2 1.1 1.3 1.7 1.1 1.0 0.8 5.1 5.7 5.1 3.2 5.7 5.1 6.2 # Source: Bloomberg, country exchanges and Zawya (** Trailing Twelve Months; * Value traded ($ mn) do not include special trades, if any; Data as of March 28, 2018) Page 1 of 7
2. News Economic & Corporate News  QFBQ posts net loss of ~QR130mn in 4Q2017 – Qatar First Bank (QFBQ) reported net loss of ~QR130mn in 4Q2017 as compared to net loss of QR62.9mn in 3Q2017. In FY2017, QFBQ reported net loss of QR269.2mn compared to net loss QR265.6mn in FY2016. Loss per share amounted to QR1.35 in FY2017 as compared to loss per share of QR1.33 in FY2016. In FY2017, QFBQ earned revenue of QR334.2mn. Furthermore, the bank’s income from financing assets increased by 18.3%, compared to FY2016, recording an additional income of QR12.6mn and the financing assets will generate recurring income during the coming years. Also, the bank’s income from placement with financial institutions stood at QR25.6mn, mainly derived from cash deployment in Shari’ah-compliant money market funds. QFBQ recorded net loss of QR269.3mn for FY2017, resulting mainly from the downward revision of the valuations of some of the bank’s investments across several markets. Moreover, the bank sold its stake in Amanat Holding, a Dubai-listed healthcare & education company and generated overall cash returns of QR25.6mn. (QSE, Gulf-Times.com)  Zad Holding Company maintaining stable consumer prices despite blockade on Qatar – Despite global economic headwinds and the blockade imposed on Qatar in June last year, Zad Holding Company has managed to maintain good performance in 2017 not only catering to the needs of the country but maintaining stable consumer price levels, according to Zad Holding Company’s Vice Chairman, Sheikh Talal Bin Mohamed Bin Jabor Al Thani. Sheikh Talal said Zad Holding Company has been continuously reinvesting a major portion of the company’s profits on modernizing and upgrading its various production facilities to achieve higher yields, greater efficiency, increased flexibility, and reduced labor costs. “As a result of this strategy, the company has been in a position to not only fulfill the supply gap caused by the blockade, but also maintain stable consumer price levels,” he told shareholders, who approved the board’s recommendation to distribute 65% cash dividends and 10% bonus shares. Sheikh Talal said Zad Holding Company will continue to focus on its core businesses, such as packaged food consumer goods due to its defensive nature and strategic importance to the country. He added, “All planned expansions to our various factories have already been completed. With the existing production capacities and capabilities, we can easily satisfy current and near future market requirements of Qatar.” (GulfTimes.com) network in Oman within the next five years and is at present considering the possibility of setting up major partnerships with a number of organizations to establish its presence in the four sites that MERS will develop, to provide goods and services that cater to the needs of the residents of those areas. This new project will spearhead the move of MERS into providing organic products to its customers in communities where there is a demand for such specialty, MERS’ Spokesman said. (Gulf-Times.com)  MERS brings in over 20,000 items directly to beat blockade – Al Meera Consumer Goods Company (MERS) has largely shielded the negative effects of blockade by importing more than 20,000 individual items as direct replacements for those from the siege countries, according to MERS’ Chairman, Sheikh Thani Bin Thamer Bin Mohamed Al Thani. Sheikh Thani said, “Since the announcement of the blockade, MERS has listed over 20,000 individual items as direct replacements for those from blockading countries and continues tirelessly in this journey.” Its international expertise led it leverage the relationships to ensure that it could maximize global supply chains, bringing several products from dozens of supporting countries, which include Turkey, Azerbaijan, Brazil, Lebanon, Kuwait and Oman. (Gulf-Times.com)  Total QR42bn budget allocation for transport and infrastructure to boost Qatar’s construction sector in 2018 – Construction in Qatar will thrive as 2018 government budget allocates an estimated QR42bn or 21% of the budget to transport and infrastructure projects, according to the latest report by Research and Markets for Building Services Qatar by The Big 5. Major projects listed in the ‘Analysis and Future Growth Dynamics of Qatar’s Economy’ report include the Lusail City Development Project ($45bn), The Doha Metro project, Hamad International Airport expansion ($15.5bn), and the Msheireb Downtown Doha Regeneration Project. (GulfTimes.com)  Nebras Power earns revenue of QR476mn in 2017 – Nebras Power, a 60:40 joint venture between Qatar Electricity & Water Company and Qatar Holding earned revenue of QR476mn in 2017, up 175% (QR173mn) in 2016. Nebras Power’s operating profit exceeded QR382mn in 2017, up 215% (QR121mn) on 2016. (Gulf-Times.com)  Qatar’s healthcare expenditure may rise to $6.6bn in 2022 – Current healthcare expenditure (CHE) in Qatar is expected to grow at an annual average rate of 2.2% to $6.6bn in 2022 from $5.8bn in 2017. The slow growth is in anticipation of a meager increase in population size, Alpen Capital stated in its report on ‘GCC healthcare industry’. Consequently, the expenditure on outpatient and inpatient care is projected to grow at a CAGR of 2.8% to reach $1.7bn and $3.1bn, respectively, in 2022. Spending on other healthcare services is also expected to grow at a slow annualized average of 2.2%. The inpatient market accounts for nearly half of the healthcare spending. The country’s hospital bed requirement is likely to grow at CAGR of 0.6% between 2017 and 2022 to nearly 2,823 beds. Current healthcare expenditure in the GCC is projected to reach $104.6bn in 2022, registering CAGR of 6.6% from an estimated $76.1bn in 2017. (Gulf-Times.com)  MERS set to open nine more outlets this year – Al Meera Consumer Goods Company (MERS) is all set to open nine more outlets this year with one dedicating half of its store space for organic products and is also in the final stages of two projects that are set to bring about greater efficiency and boost in sales. Moreover, the company is contemplating doubling its branches  Fitch downgrades Ooredoo’s IDR to ‘A-’; outlook ‘Stable’ – Fitch Ratings (Fitch) downgraded Ooredoo’s Long-Term Issuer Default Rating (IDR) to ‘A-’ from ‘A’ and removed it from Rating Watch Negative (RWN). The outlook on the IDR is ‘Stable’. Ooredoo was among the companies Fitch placed on Rating Watch Negative in November 2017 when the exposure Page 2 of 7
3. draft of Fitch ’s new Government-Related Entities (GRE) Rating Criteria was published. In line with the final GRE rating criteria, we have determined that Ooredoo should be rated on a top-down basis, three notches below the sovereign rating of Qatar (‘AA-’/’Negative’), the company’s parent. This takes into account the company’s standalone credit profile of ‘BBB’, together with the strength of linkage with the Qatari state and incentive-to-support factors. (Bloomberg)  Qatar in pact to use Sudan’s port to circumvent the blockade – Sudan and Qatar signed an agreement in which Qatar agrees to pay $4.5bn to rehabilitate Sudan’s Suakin port on the country’s Red Sea coast, while Sudan will allow Qatari ships to dock at the port and export livestock to Qatar to get around an embargo imposed on Qatar. Sudan’s Transport Minister, Makawi Mohamed Awad said that Qatar will pay the $4.5bn in three phases starting with an immediate $500mn payment. Qatar’s Transport Minister, Jassim Saif Ahmed Al Sulaiti said that Qatari ships will begin to dock on the Sudanese coast from the beginning of April, adding that the port will be used to import livestock from Sudan. (Bloomberg)  QFLS to invest QR634mn to fuel local expansion in 2018, says CEO – Qatar Fuel Company (QFLS) will be investing around QR634mn this year for its expansion projects in Qatar as part of initiatives to cater to the local market, according to QFLS’ Chairman, Ahmad Saif Al Sulaiti. “Company has an ambitious plan for increasing its market stake for distribution and transportation of petroleum products, natural gas, bitumen, ship bunker fuel, and other products. This would be achieved through the implementation of and operation of various projects, and concluding the necessary contracts and agreements relevant to these activities, with the support of quality systems, modern technology systems, as well as the introduction of an industry standard health, safety, security and environment rectification/preservation system/measure.” (Gulf-Times.com)  Qatar’s construction market to see CAGR of 7% by 2019 – The construction market in Qatar will see a compound annual growth rate (CAGR) of around 7% by 2019, according to a report issued by Al Asmakh Real Estate Development Company (Al Asmakh). The report stated the construction industry, which is considered one of the most active sectors in Qatar, is going to be more active in the coming periods driven by the economic development plan of the Qatar National Vision 2030. The construction market in Qatar is one of the fastest growing markets in the Middle East and a destination for global investments. The report also noted that the construction industry in Qatar was among the fastest growing in the world in the last five years. Citing international reports, Al Asmakh stated the production value in construction industry in Qatar expanded at a CAGR of 15% between 2012 and 2017 in terms of real value. (Qatar Tribune)  QNB Group: Qatar foreign exchange reserves rise to $37.7bn in January – In a clear indication of Qatar’s improving international investment position, the Qatar Central Bank’s foreign exchange reserves increased to $37.7bn in January, QNB Group noted in its “Qatar Monthly Monitor’. In December, Qatar’s foreign exchange reserves stood at $37.6bn, the report noted. The report showed Qatar’s current account surplus widened to 5.3% of GDP in 3Q2017 from 2.5% in 2Q2017, while the deficit in the financial account narrowed. The fiscal deficit widened in 3Q2017 to 6.9% of GDP from 4.1% in 2Q2017. The country’s exports expanded 28.8% YoY on higher hydrocarbon prices while import growth remained steady at 2% YoY. The country’s banking sector also grew in terms of deposits and loans as well as assets in December. Banking assets expanded to $375.5bn growing 9.1% YoY in January from 8% in December. Bank deposit growth was 9.1% YoY in January. Credit growth was 8.5% in January, driven by lending to the public sector, which grew 16.1% YoY. Deposits from the nonresident and private sector remained stable in January, QNB Group noted. (Gulf-Times.com)  QCB keeps repo rate flat, raises deposit rate 25 bps – The Qatar Central Bank (QCB) stated that it was keeping its repo rate flat at 2.50%, and leaving its overnight lending rate unchanged at 5.00%, Reuters reported. However, the bank raised its overnight deposit rate by 25 bps to 1.75%. The QCB was acting after the US Federal Reserve hiked rates by 25 bps. (GulfTimes.com)  Farm sector to meet 50% of Qatar’s needs, says minister – HE the Minister of Municipality and Environment Mohamed Bin Abdullah Al-Rumaihi stressed on the importance of achieving food security, noting that a 100% production of the local needs might not be possible because of the difficult summer conditions in Qatar. However, he said that agricultural production could increase sharply and meet 50% of the local needs. The minister was speaking at the concluding session of the sixth edition of Qatar International Agricultural Exhibition (AgriteQ 2018) at the Doha Exhibition and Convention Centre. (Gulf-Times.com)  Qatar’s non-oil exports reach QR2.2bn in February 2018, says report – The value of Qatar’s non-oil exports jumped 4.8% MoM from QR2.1bn to QR2.2bn in February 2018, Qatar Chamber said in its latest report. The report, Qatar Chamber said, was prepared based on the 2,620 certificates of origin issued by its Research & Studies Department and Member Affairs Department in February 2018. In February, the report noted Qatar exported goods and services to 62 countries compared to 59 in the previous month. Countries receiving Qatar’s non-oil exports included 12 Arab countries, including those in the GCC; 13 European countries, including Turkey; 17 Asian countries, excluding Arab countries; 17 African countries, excluding Arab countries; and three countries in North and South Americas. Oman remained as Qatar’s top non-oil exports destination in January, accounting for QR1.17bn or 54.4% of the total exports. It was followed by Hong Kong with almost QR121.85mn or 5.62% and Germany with QR118.94mn or 5.5%. Turkey received QR104mn or 4.8% of the total exports followed by Switzerland with QR98.6mn or 4.5%. The rest of the receiving countries included the Netherlands, India, Indonesia, Bangladesh, and China. (Gulf-Times.com)  Ashghal to implement QR21.8bn worth of projects this year – Qatar’s Public Works Authority (Ashghal) said that the total value of projects to be implemented during the current year will be about QR21.8bn and will include infrastructure projects, roads and green spaces, land plots and housing units for citizens and the development of intersections. (Peninsula Qatar) Page 3 of 7
4. Qatar Stock Exchange Top Gainers Top Decliners 0 .0% 12.0% 11.1% -6.0% 8.0% -7.5% -7.4% Qatar Navigation Qatar Insurance 4.7% 4.0% -12.0% 1.1% 1.0% 1.0% Vodafone Qatar Zad Holding Qatari Investors Group -13.1% -12.8% Qatar International Islamic Bank Qatar First Bank 0.0% Qatar Cinema & Film Distribution Al Ahli Bank -16.9% -18.0% Qatar Islamic Insurance Source: Qatar Stock Exchange (QSE) Source: Qatar Stock Exchange (QSE) Most Active Shares by Value (QR Million) Most Active Shares by Volume (Million) 150.0 12.0 132.8 8.0 96.0 100.0 10.8 84.5 74.5 59.9 4.0 3.2 3.1 3.0 Mazaya Qatar Vodafone Qatar Mesaieed Petrochemical Holding Company 2.4 50.0 0.0 Qatar First Bank 0.0 QNB Group Industries Qatar Masraf Al Rayan Qatar First Bank Qatar Insurance Source: Qatar Stock Exchange (QSE) Source: Qatar Stock Exchange (QSE) Investor Trading Percentage to Total Value Traded 100% 30.43% 80% 12.78% 60% 24.06% Net Traded Value by Nationality (QR Million) 82 Non-Qatari 362 11.15% 22.70% 33.31% 34.09% 31.48% 445 40% 20% Masraf Al Rayan (82) Qatari 667 585 0% Buy Sell Qatari Individuals Qatari Institutions Non-Qatari Individuals Non-Qatari Institutions Source: Qatar Stock Exchange (QSE) (200) - 200 Net Investment 400 Total Sold 600 800 Total Bought Source: Qatar Stock Exchange (QSE) Page 4 of 7
5. TECHNICAL ANALYSIS OF THE QSE INDEX Source : Bloomberg The Index closed lower than the previous week by 2.85%, the uncertainty we saw last week have unfolded into a weakness and now it inside a corrective channel that has been created few weeks ago. The index needs to break above the 9,000 resistance before it may turn bullish. Our weekly support level remains at the 8,000 mark . 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 5 of 7
6. Com pany Nam e Price March 29 % Change WTD % Change YTD Market Cap. QR Million TTM P/E P/B Div. Yield Qatar National Bank 130.00 (3.70) 3.17 120,074 9.6 1.8 4.6 Qatar Islamic Bank 97.50 (2.50) 0.52 23,039 11.0 1.5 5.1 Commercial Bank of Qatar 30.00 0.67 3.81 12,142 33.1 0.7 3.3 Doha Bank 27.00 (2.07) (5.26) 8,371 8.2 0.8 11.1 Al Ahli Bank 31.50 4.65 (15.17) 6,626 10.2 1.3 3.0 Qatar International Islamic Bank 50.01 (13.10) (8.41) 7,570 9.1 1.3 8.0 Masraf Al Rayan 35.34 (2.43) (6.38) 26,505 13.1 2.0 5.7 Al Khalij Commercial Bank 11.06 (1.25) (22.11) 3,982 8.0 0.6 6.8 Qatar First Bank 6.38 (12.84) (2.30) 1,276 N/A 0.8 N/A National Leasing 10.29 (4.55) (3.92) 509 172.0 0.5 4.9 Dlala Holding 11.81 (1.58) (19.66) 336 18.5 1.4 N/A 7.29 (2.15) (7.72) 230 24.6 0.8 6.9 30.20 (0.98) (19.47) 171 N/A 1.3 3.3 1,321 11.0 1.4 4.5 67 N/A 1.0 N/A Qatar & Oman Investment Islamic Holding Group Banking and Financial Services Zad Holding Qatar German Co. for Medical Devices Salam International Investment 210,830 101.00 1.00 24.69 5.81 (3.17) (10.06) 5.81 (1.02) (15.67) 664 N/A 0.4 N/A Medicare Group 68.58 (5.50) (1.82) 1,930 24.1 1.9 2.6 Qatar Cinema & Film Distribution 25.18 11.12 0.72 158 20.2 1.2 4.0 109.97 (4.23) 7.75 10,934 11.3 1.5 7.3 Widam Food Co. 59.00 (5.27) (5.60) 1,062 9.8 3.1 7.2 Mannai Corp. 56.20 (2.26) (5.55) 2,564 5.1 1.0 7.1 142.00 (3.73) (2.00) 2,840 14.6 2.1 6.0 Qatar Fuel Al Meera Consumer Goods Consum er Goods and Services 21,540 Qatar Industrial Manufacturing 39.00 (4.88) (10.76) 1,853 9.0 1.2 7.7 Qatar National Cement 56.01 (4.34) (10.95) 3,660 11.2 1.2 8.0 105.10 (3.03) 8.35 63,586 19.2 1.9 4.8 33.88 0.98 (7.43) 4,212 16.7 1.6 2.2 188.00 (1.51) 5.62 20,680 12.8 2.3 4.1 9.68 (3.20) 11.52 6,098 12.2 0.8 6.2 Gulf International Services 18.36 (4.92) 3.73 3,412 40.2 0.9 N/A Mesaieed Petrochemical Holding 14.69 0.62 16.68 18,455 16.9 1.3 4.8 6.07 (0.49) (0.49) 504 0.5 0.6 4.9 11,959 32.9 1.2 3.5 705 16.7 0.7 5.4 Industries Qatar Qatari Investors Group Qatar Electricity and Water Aamal Invesment Holding Group Industrials 122,461 Qatar Insurance Doha Insurance 37.50 (7.41) (17.08) 14.10 0.71 0.71 Qatar General Insurance & Reinsurance 45.00 (4.26) (8.16) 3,938 12.8 0.6 5.0 Al Khaleej Takaful Insurance 10.30 (6.28) (22.21) 263 18.0 0.5 4.9 Qatar Islamic Insurance Insurance 48.20 (16.87) (12.32) 723 11.7 2.1 7.3 United Development 14.91 (1.71) 3.69 5,279 9.8 0.5 8.4 Barw a Real Estate 33.50 (2.05) 4.69 13,036 7.7 0.7 7.5 Ezdan Real Estate 10.50 (5.41) (13.08) 27,851 16.2 0.9 4.8 7.32 (5.91) (18.67) 847 30.5 0.6 N/A 82.52 (1.29) (9.07) 26,433 13.5 1.1 4.2 8.69 1.05 8.35 7,347 N/A 1.6 N/A Qatar Navigation (Milaha) 56.50 (7.54) 1.00 6,471 13.7 0.5 6.2 Gulf Warehousing Qatar Gas Transport (Nakilat) 40.50 (1.53) (7.93) 2,373 11.0 1.5 4.2 15.28 (1.23) (5.09) 8,466 10.0 1.4 6.5 Mazaya Qatar Real Estate Development Real Estate Ooredoo Vodafone Qatar Telecom s Transportation Qatar Exchange 17,588 47,014 33,779 17,310 470,521 Source: Bloomberg Page 6 of 7
7. 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 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 7 of 7