By: Eman Ghaly
Mubasher: There are several reasons beyond the Qatar Stock Exchange’s (QSE) increase during Monday’s trading session, as the general index rose 1%.
Monday's gains are mainly ascribed to the approaching announcement of the fourth-quarter financial results, Qatar's departure from the Organization of Petroleum Exporting Countries (OPEC) and the increase in oil prices, capital market analyst Ahmad Aqel told Mubasher.
By 12:10 pm Qatar time, the general index levelled up 103.85 points, or 1.01%, to finish at 10,420.81 points.
Since the beginning of 2018, the main index jumped 22.25%.
Aqel said that Qatar’s move to withdraw from the producer group is one of the key decisions that will help the GCC country to focus on natural gas production.
The decision will be positive on the long-term, Aqel added.
He noted that announcing the financial results of the fourth quarter of 2018 will be more beneficial to the market, as investors keep forming financial positions amid an anticipation to cash dividends’ announcement.
The financial analyst revealed that earnings per share to current prices ratio is attractive for investors, noting that raising global oil prices by 5% affected the QSE positively.
Moreover, he expected that the bourse will maintain its positive performance by hitting resistance of 10,400 points, then moving to 10,500 points.
Translated by: Kholoud Mohamed Hussein
