Complex Made Simple

Qatar market trades sideways as earnings season enters hot phase

The Doha-based gauge lost 0.21% on Thursday, finishing at 9,723.52 points.

Al Khalij Commercial Bank (Al Khaliji) gained 0.21% to reach QR18.74. Earlier in the day, the lender announced that it has completed the senior bond issue of $500m under its Euro Medium Term Note Program (EMTN) with a tenor of 5 years and a coupon of 3.25%. Al Ahli Bank closed unchanged at QR55.10. Earlier in the day, the lender said the interim financial statements for the 3rd quarter revealed a net profit of QR413.6m for the nine months period ended September 30, 2013 in comparison to a net profit of QR367m for the corresponding period last year.