Home Page Pioneers Holding Website Site Map
Release from FRA Concerning Assiut Islamic Trading (AITG.CA)       Release from FRA Concerning El Arabia Engineering Industries (EEII.CA)       Saudi Arabia to meet banks on export-credit finance plans, sources say       Germany resists pressure to ease Saudi arms export halt       Egypt has achieved many economic breakthroughs: AfDB       Official Visit of the President of Bulgaria Rumen Radev to the Arab Republic of Egypt       Foreign currencies exchange rates and gold prices       Telecom Egypt revenues reach LE22.8bn in 2018       HDB standalone profits jump to LE1.6 bn ending Dec 2018       EG-Bank sees 12% profits increase ending Dec 2018       March 23: Gharbia Islamic Housing to review dividends       Gharbia Islamic Housing earnings ebb to LE927 k ending Dec 2018       Release from Gharbia Islamic Housing Development (GIHD.CA) Concerning the AGM & EGM       Release from Arab Pharmaceuticals (ADCI.CA) Concerning the Executive Manager       Release from Arabia Investments , Development , Financial Investments Hol (AIND.CA) -Concerning the Board Of Directors Decisions       Arab Gathering Investment (AMIA.CA) Amendments in the of the Board of Directors.       Arab Gathering Investment (AMIA.CA) - Corporate Governance Report       Arab Gathering Investment (AMIA.CA) - Decisions of the Board of Directors Meeting       Gharbia Islamic Housing Development (GIHD.CA) - Board of Directors Meeting Minutes       Release from Gharbia Islamic Housing Development (GIHD.CA) Concerning the AGM & EGM      
ACGC.CA  5.67    1.07%      AFDI.CA  12.02    1.52%      APSW.CA  2.71    1.88%      COMI.CA  73.35    0.87%      EFIC.CA  16.93    1.93%      EGTS.CA  1.55    2.65%      EHDR.CA  5.13    2.40%      EKHO.CA  0.80    -1.23%      ELEC.CA  0.89    3.49%      ELKA.CA  14.98    0.00%      EMOB.CA  128.73    1.83%      EPCO.CA  2.30    0.00%      ESRS.CA  19.59    0.98%      ETEL.CA  13.49    -0.37%      HRHO.CA  23.27    0.00%      IFAP.CA  2.38    2.15%      KABO.CA  1.49    0.68%      MNHD.CA  10.29    1.78%      MOIL.CA  0.28    3.70%      NCGC.CA  6.55    0.00%      OCDI.CA  19.54    0.41%      OCIC.CA  217.47    0.00%      ORTE.CA  4.42    1.38%      PHDC.CA  4.06    1.50%      PIOH.CA  8.47    0.59%      SPIN.CA  2.05    1.49%      SVCE.CA  5.49    2.23%      SWDY.CA  136.72    0.80%      TMGH.CA  10.22    1.89%      UEGC.CA  0.77    1.32%      
First Name
Last Name
E-Mail
E-Mail
Qatar stock market breaks 10,000 mark on earnings optimism








Qatar Stock Exchange (QSE) yesterday notched its biggest point gains since August, as investors expected a strong earnings season and continued growth momentum. The benchmark index rose 1.26 percent to break the 10,000 mark barrier before settling at 9,964.37, mainly driven by banks and Industrials.

Yesterdays big gains came as the banking major QNB announced it recorded a QR10.8bn in net profit for the first nine months of 2018, up 6 percent from a year ago. QNB stated that despite the Turkish Lira devaluation impact, the banks strong asset liability management capabilities helped QNB Group to improve its loans to deposits ratio to 98.3 percent.

Investor optimism for a number of blue-chips ahead of Q3 results, amid a steadily rising oil prices, has buoyed sentiment, Akber Khan, Senior Director, Asset Management Group, Al Rayan Investment, told The Peninsula.

Market is expecting a solid third quarter earnings. QNBs 6 percent growth is a pointer. We think the trend will continue, commented Talal Samhouri, Head of Asset Management, Amwal.

Analysts at QNBFS noted yesterday that they expect third quarter earnings for Qatari stocks under coverage to exhibit strong performance of 27 percent year-on-year growth and 4.6 percent rise on quarter-on-quarter due to base effect for banks.

Industries Qatar, Commercial Bank and Vodafone are estimated to contribute positively YoY to the aggregate bottom-line of stocks under coverage. QNBFS expects Commercial Bank to report strong earnings in 3Q2018 as the bank has made a successful turnaround and significantly lowered provisions while trimming opex.

On Monday, SICO said its GCC equities consensus analysts estimated Qatari firms aggregate net profit for Q3, 2018 is expected to grow 21 percent year-on-year, primarily driven by Industries Qatar (IQ).

On QSE, the banking sector rose 1.48 percent with QNB rising 2.21 percent. QIB gained 1.08 percent as Masraf Al Rayan added 1.05 percent. Industrials stocks advanced 1.40 percent, with bellwether Industries Qatar (IQ) rising the most by 2.33 percent.

All the sector indices ended green. QSE Total Return Index increased 1.26 percent to 17,556.12 points and Al Rayan Islamic Index gained 1.03 percent to 3,842.57 points. QSE All Share Index gained 1.25 percent to 2,932.63 points. QSEs market cap rose to QR555bn.

KAMCO Researchs latest technical analysis on QSE noted the next overhead level of QSE benchmark would come at 10,165 point, while above this will most likely to shift the trading range to 10,165 point to 11,100 point.

On the negative side, there could be some selling activity on short-term period, knowing that a fall below 9,750 point would lead to 9,450 point but only below this will delay the upward move and trigger the psychological level at 9,000 point once again, analysts said.




Time Added: 2018-10-11 10:39:35
Source: gulfbase
  print
Send to a friend
Your Name
Your E-mail
Your Friend Name
Your Friend E-mail
Your Message
 
Share on Facebook

Related News
Release from FRA Concerning Assiut Islamic Trading (AITG.CA)
Release from FRA Concerning El Arabia Engineering Industries (EEII.CA)
Saudi Arabia to meet banks on export-credit finance plans, sources say
Germany resists pressure to ease Saudi arms export halt
Egypt has achieved many economic breakthroughs: AfDB
Official Visit of the President of Bulgaria Rumen Radev to the Arab Republic of Egypt
Foreign currencies exchange rates and gold prices
Telecom Egypt revenues reach LE22.8bn in 2018
HDB standalone profits jump to LE1.6 bn ending Dec 2018
EG-Bank sees 12% profits increase ending Dec 2018