Latest news with #IndustriesQatar
Business Recorder
12 hours ago
- Business
- Business Recorder
Major Gulf bourses subdued on Israel-Iran conflict
Major stock markets in the Gulf were subdued in early trade on Tuesday with investors cautious as fighting between Iran and Israel entered its fifth day, sparking fears of potential regional instability. Iranian media reported explosions and heavy air defence fire in Tehran. In Israel, air raid sirens sounded in Tel Aviv in response to Iranian missiles. US President Donald Trump, returning early from the G7 summit in Canada on Monday night, urged Iranians to evacuate Tehran, citing the country's rejection of a deal to curb nuclear weapons development. Saudi Arabia's benchmark index traded flat, a day after posting a 1.3% gain. ACWA Power Company declined 3.7% and oil giant Saudi Aramco was down 0.4%. Gulf markets rebound amid Israel-Iran conflict The Qatari index inched 0.1% higher, helped by a 0.2% gain in petrochemical maker Industries Qatar. Investors are also watching for details from the US Federal Reserve meeting scheduled to start later in the day, with a decision expected on Wednesday. The Fed is expected to hold rates steady but the focus yet again will be on the path its Chair Jerome Powell charts out for future rate cuts. Traders are currently pricing in two cuts by this year-end. In Abu Dhabi, the index was up 0.1% in a choppy trade. Dubai's main share index added 0.1%, with blue-chip developer Emaar Properties putting on 1.2%.
Qatar Tribune
23-05-2025
- Business
- Qatar Tribune
QSE bull run continues as stocks gain for 6th week in row
Satyendra Pathak Doha The Qatar Stock Exchange (QSE) posted a robust performance this week, with the benchmark QSE Index climbing 199.67 points, or 1.9 percent, to close at 10,774.29 points. The market rally for the sixth consecutive week was supported by gains in key blue-chip stocks and a notable rise in trading activity, reflecting renewed investor confidence. Market capitalisation rose in tandem, increasing by 1.9 percent to reach QR636.5 billion from QR624.6 billion in the previous trading week. Of the 53 companies traded, a significant majority—41 stocks—registered gains, while only 12 ended in the red. Qatar German for Medical Devices (QGMD) emerged as the week's top gainer, soaring 13.2 percent. On the other end of the spectrum, Vodafone Qatar was the worst performing stock, shedding 4.9 percent over the week. Leading the rally were heavyweights Qatar Islamic Bank, Industries Qatar and QNB Group. Qatar Islamic Bank made the largest contribution to the index, adding 76.54 points, followed by Industries Qatar and QNB Group, which contributed 27.25 points and 23.60 points respectively. Trading activity picked up considerably during the week. The total traded value rose by 36.3 percent to QR3,194.1 million from QR2,343.7 million in the prior week. Estithmar Holding was the top value traded stock, with transactions totaling QR247.9 million. In terms of volume, the market saw a 35.9 percent jump, with 1,475.4 million shares changing hands compared to 1,085.3 million shares the previous week. The number of transactions also surged by 37.6 percent, reaching 132,263. Mazaya Real Estate Development topped the volume chart, accounting for 139 million shares. Foreign institutional investors continued to show confidence in Qatari equities, registering net buying of QR184.1 million, though slightly down from QR199.3 million the week before. Meanwhile, Qatari institutions remained on the sell side with net selling of QR63.5 million. Foreign retail investors turned bullish with net buying of QR15.4 million, reversing the prior week's net selling of QR36.8 million. In contrast, Qatari retail investors continued to offload equities, recording net selling of QR136.0 million compared to QR109.4 million in the previous week. Despite the strong weekly performance, global foreign institutions remain net sellers of Qatari equities year-to-date by $149.1 million. Similarly, GCC institutions are net short by $35.9 million YTD. The market's upward trajectory this week, backed by institutional interest and stronger trading volumes, paints a cautiously optimistic picture. However, continued foreign outflows on a year-to-date basis suggest that investor sentiment could remain sensitive to global macroeconomic developments and regional dynamics.
Yahoo
06-05-2025
- Business
- Yahoo
Industries Qatar QSC (DSMD:IQCD) Q1 2025 Earnings Call Highlights: Navigating Challenges with ...
Revenue: Marginal increase in Q1 2025 compared to Q4 2024 due to improved selling prices, partially offset by reduced volumes. Net Earnings: Marginal growth in Q1 2025 compared to Q4 2024, with a 20% increase after adjusting for non-recurring income. Cash and Bank Balances: QAR9.2 billion as of March 31, 2025. Operating Cash Flow: Positive operating cash flow of QAR670 million in Q1 2025. Capital Expenditure: QAR640 million invested in Q1 2025. Total Assets: QAR40.7 billion as of March 31, 2025. Total Equity: QAR36.1 billion as of March 31, 2025. Petrochemicals Segment Net Profit: QAR263 million in Q1 2025, down 26% year-over-year. Fertilizer Segment Net Profit: QAR553 million in Q1 2025, down 13% year-over-year. Steel Segment Net Profit: QAR116 million in Q1 2025, down 26% year-over-year. Average Selling Prices: Blended average product prices improved by 3% year-over-year to USD490 per metric ton. Sales Volume: Declined by 6% year-over-year in Q1 2025. Production Volume: Increased marginally due to higher operating days and an additional facility. Warning! GuruFocus has detected 6 Warning Sign with DSMD:IQCD. Release Date: May 05, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Blended average product prices improved by 3% compared to the first quarter of 2024, contributing positively to net earnings. The group's financial position remains robust with cash and bank balances of QAR9.2 billion and no long-term debt obligations. The fertilizer segment reported a revenue increase of 14% quarter-on-quarter due to higher sales volume and selling prices. The petrochemicals segment saw a significant 31% improvement in net earnings quarter-on-quarter due to reduced operating costs. The steel segment restarted some facilities, leading to a moderate improvement in production by 8% compared to the previous quarter. Sales volume for the first quarter of 2025 declined by 6% compared to the first quarter of 2024 due to weaker demand and supply bottlenecks. Operating costs increased due to unplanned shutdowns, adverse inventory changes, and general inflation. The petrochemicals segment reported a 26% decline in net profit compared to the same quarter last year due to lower revenue and increased operating costs. The fertilizer segment experienced a 13% decline in net profit year-over-year, primarily due to lower sales volume and increased operating costs. The steel segment's net profit decreased by 26% compared to the same period last year, driven by lower revenue and reduced earnings from associates. Q: How does Industries Qatar foresee sales volumes for the rest of the year given the recent weak performance? A: Saffan Mohammed, Senior Financial Management Analyst at QatarEnergy, explained that sales volumes are influenced by market conditions and timing of shipments. While some volumes were not sold in the first quarter, they are expected to be sold in subsequent quarters. The company anticipates normalization in production and sales volumes, with additional volumes expected from Qatar Steel due to the start of an additional facility. Q: Are there any updates on the blue ammonia project? A: Saffan Mohammed confirmed that the blue ammonia project is on track and will be online as previously announced. Q: How is the global market uncertainty affecting Industries Qatar's sales and client behavior? A: Abdulla Al-Hay, Manager at QatarEnergy, stated that despite global uncertainties, the marketing team is working hard to ensure all products are sold at maximum value. As a low-cost producer, Industries Qatar has a competitive advantage, which helps mitigate the impact of global market uncertainties. Q: Can you provide more details on the planned and unplanned shutdowns in the fertilizer segment? A: Saffan Mohammed mentioned that the first quarter experienced both planned and unplanned shutdowns. Another planned shutdown is expected in either the second or third quarter, depending on upstream shutdowns by Qatar Energy. The company plans production and inventory management to minimize the impact of these shutdowns on sales volumes. Q: What is the rationale behind the recent share buyback announcement, and is it expected to be a regular occurrence? A: Abdulla Al-Hay explained that the buyback initiative was driven by the Board's belief in the company's strong financial position and undervaluation of its shares. The buyback, with a ticket value of up to QAR1 billion, aims to enhance shareholder value. The program is initially set for six months, with the possibility of extension if necessary. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
14-04-2025
- Business
- Zawya
Mideast Stocks: Most Gulf markets extend gains on US tariff relief
Most Gulf stock markets ended higher on Sunday, extending gains from the previous session after temporary U.S. tariff relief boosted sentiment, though global trade uncertainty remains a concern. In a stunning reversal, U.S. President Donald Trump on Wednesday announced a temporary lowering of hefty duties he had imposed on dozens of countries. Saudi Arabia's benchmark index gained 0.8%, helped by a 3.9% rise in Riyad Bank and a 0.4% increase in Al Rajhi Bank. The Qatari index added 0.2%, with petrochemicals and commodities-focused conglomerate Industries Qatar closing with a gain of 0.7%. Outside of the Gulf, Egypt's blue-chip index advanced 1.2%. Almost all constituents were in positive territory, including a 3.9% jump for tobacco monopoly Eastern Company. SAUDI ARABIA rose 0.8% to 11,593 QATAR was up 0.2% to 10,118 EGYPT gained 1.2% to 31,175 BAHRAIN finished flat at 1,902 OMAN added 0.1% to 4,276 KUWAIT lost 0.2% to 8,361 (Reporting by Ateeq Shariff in Bengaluru Editing by David Goodman)
Reuters
13-04-2025
- Business
- Reuters
Most Gulf markets extend gains on US tariff relief
April 13 (Reuters) - Most Gulf stock markets ended higher on Sunday, extending gains from the previous session after temporary U.S. tariff relief boosted sentiment, though global trade uncertainty remains a concern. In a stunning reversal, U.S. President Donald Trump on Wednesday announced a temporary lowering of hefty duties he had imposed on dozens of countries. The Qatari index (.QSI), opens new tab added 0.2%, with petrochemicals and commodities-focused conglomerate Industries Qatar ( opens new tab closing with a gain of 0.7%. Outside of the Gulf, Egypt's blue-chip index (.EGX30), opens new tab advanced 1.2%. Almost all constituents were in positive territory, including a 3.9% jump for tobacco monopoly Eastern Company ( opens new tab.
