MENA Daily Fixed Income Report - 30 December

Transcription

1. Research @Markaz.com Daily Morning Brief Equity Watch GCC Markets S&P GCC Composite Saudi (TASI) Qatar(QE Index) Abu Dhabi (ADI) Kuwait All Share Index (PR) Kuwait All Share Index (TR) Dubai (DFMGI) Bahrain (BAX) Oman(Muscat SM) Developed markets MSCI World Index U.S. (S&P 500) U.K. (FTSE) Japan (Topix) Emerging markets MSCI EM Index China (Shanghai Indx.) India (Sensex) Blue Chip Watch Companies Value Traded & Advances/Decline Ratio M. Cap Close Change (USD Bn) Price % Indicators M.Cap (USD Bn) December 30, 2020 MTD % YTD 3-Yr 5-Yr P/E % CAGR CAGR TTM 456 2,434 150 199 107 107 73 21 11 115 8,747 10,500 5,099 5,578 6,715 2,525 1,497 3,642 0.2 0.4 -0.6 -0.1 0.4 0.4 0.4 0.5 0.5 1.4 0.0 2.3 2.7 2.2 2.3 4.4 1.3 -0.0 -1.1 5.1 4.3 6.6 0.7 7.2 0.5 5.1 -11.2 4.9 -7.4 8.6 -8.7 -9.2 -7.0 4.0 -8.5 -10.6 3.8 4.8 0.1 3.4 -4.3 4.3 -7.6 15 20 17 15 20 20 9 9 9 49,095 33,479 2,568 6,537 2,682 3,727 6,603 1,819 0.2 -0.2 1.5 1.7 3.8 2.9 5.4 3.7 13.7 8.4 15.4 11.7 -12.5 -4.9 5.7 0.0 10.0 12.8 1.1 3.3 28 29 17 20 7,116 6,109 1,245 1,267 3,542 47,613 1.2 -0.5 0.5 5.1 -0.4 7.8 13.6 10.8 15.4 9.8 -0.9 12.7 20 15 30 3.0 0.7 11.8 Close Price- Change % MTD % YTD % 3-Yr CAGR 5-Yr CAGR P/E TTM 35 102 106 74 43 0.6 1.0 -0.1 0.5 -2.5 5.1 -1.7 -0.9 2.8 -0.4 8.4 4.1 13.3 -11.8 15.6 20.8 5.8 5.8 9.2 17.0 5.0 34 20 19 11 1 17 13 42 11 -0.7 -0.5 0.5 0.0 1.9 -4.7 -0.3 4.4 4.3 -1.8 172.6 5.5 -13.1 574.5 -17.3 37.2 -0.5 8.7 209.5 10.8 24.7 1.4 10.6 104.9 8.5 17 15 35 9 845 680 611 572 678 0.5 0.6 0.8 0.7 0.9 0.6 5.2 -2.7 5.4 -17.1 -7.8 1.8 -6.3 -4.7 10.3 16.3 12.1 17.3 8.7 6.7 15.2 11.8 12.0 18.8 23 32 14 47 23 18 11 2 17 5 -0.6 -1.0 -0.6 -0.6 -0.0 1.5 -0.5 10.8 3.5 6.3 -12.6 6.5 191.7 12.5 14.6 12.6 4.1 14.1 21.2 6.3 6.3 -0.3 2.4 10.1 3.8 14 44 14 16 Saudi Arabia 1,871 Saudi Aramco SABIC 81 Saudi Telecom 56 49 Al-Rajhi Bank NCB 35 United Arab Emirates 43 TAQA 41 ETISALAT 39 FAB 21 Intl. Holding Co. 18 Emirates NBD Kuwait 19 NBK 17 KFH 9 Zain 6 Boubyan Bank 5 Agility Qatar 45 Qatar National Bank Industries Qatar 18 13 Ezdan Holding 11 Qatar Islamic Bank Masraf Al Rayan 9 Companies Saudi Arabia 2,314 206 112 79 15 3,226 Kuwait 83 166 66 43 57 253 UAE 130 122 20 21 81 206 Qatar 46 46 7 33 6 91 Bahrain 1 44 17 4 23 2 Oman 3 121 20 5 96 3 Total 2,577 705 242 185 278 3,782 Yield Curve & CDS Watch LIBOR (In %) Ahli Bank National Building and Marketing Co Yamama Cement Co Saudi Cement Co Yanbu Cement Co Country Qatar KSA KSA KSA KSA M. Cap Change (USD Bn) % 2.4 10.0% 1.4 9.3% 1.6 2.8% 2.5 2.5% 1.7 2.5% 5-year CDS Spread Country 52-Week Current 2019 70.4 39.6 113.8 38.2 38.6 217.5 254.3 - 58.5 34.8 91.0 44.9 36.8 266.0 167.1 3,065.7 KSA Abu-Dhabi Dubai Kuwait Qatar Oman Bahrain Lebanon High Low 232.4 155.0 324.6 84.0 181.0 637.0 508.5 13,893.4 58.5 34.8 90.8 34.3 36.5 199.0 158.5 3,039.4 Interest Rate Watch Deposit Rate 3M Rate % Spread % U.S. 0.1 Kuwait 1.0 KSA** 1.0 UAE 0.1 Qatar 0.6 Oman 2.2 Bahrain 1.9 Euro Region -0.6 Last FOMC Meeting Date: Dec 15/16 MTD YTD % % 8.7% 6.9% 67.0% 204.7% 4.8% 14.9% 5.0% -13.0% 17.0% 7.6% Top 5 Losers*  US Treasuries (In %) KIBOR Yield Curve (%) Top 5 Gainers*  Companies Value Traded Listed ADTV – 1M Advances Declines Unchanged (USD mn) companies (USD mn) 0.9 0.9 -0.0 0.5 2.1 1.8 -0.6 5YR Rate 10YR Rate 0.4 0.9 0.5 2.6 0.7 2.1 0.5 1.3 1.7 1.6 3.7 5.4 3.9 4.7 -0.7 -0.6 Next FOMC Mt Date: Jan 26/27 Commodity Watch Companies Country Commercial Bank of Kuwait Abu Dhabi Commercial Bank Advanced Petrochemical Co Qatar Insurance Co National Petrochemical Co Kuwait UAE KSA Qatar KSA M. Cap Change (USD Bn) % 3.3 11.5 3.9 2.1 4.3 -2.9% -1.8% -1.6% -1.5% -1.5% MTD % YTD % Precious Metals 0.0% -0.2% 8.9% -5.9% 1.2% -5.5% -23.4% 35.6% -24.1% 42.4% Gold $/oz Silver $/oz IPE Brent $/bbl Bitcoin/USD Currency Watch USD (1 EUR =) Yen (1 USD =) KWD (1 USD =) CNY (1 EUR =) CBOE VIX index CAGR – Compounded annual growth rate | ADTV – Average daily traded value | M. Cap - Market capitalization TTM – Trailing twelve months | YTD – Year to date | * Mcap > USD 1bn Note: **12yr for Saudi Arabia; TR = Total Return\PR = Price Return; Total Return is Price Return + Dividend Return Market News 52-Week Close Price 1,878.0 26.2 51.1 27,370 Change % 0.4 0.1 0.5 0.9 MTD % 5.7 15.8 7.4 38.9 YTD % 23.8 46.8 -22.6 281.8 High Low 2,063.2 29.2 68.9 27,370 1,469.8 12.0 19.3 4,841.7 1.2 103.6 0.3 6.5 23.1 0.3 -0.2 0.1 -0.1 6.4 2.7 -0.7 0.1 -0.7 12.2 9.3 -4.6 0.8 -6.2 67.5 1.2 112.1 0.3 7.2 82.7 1.1 102.3 0.3 6.5 12.1  Saudi Arabia’s trade exchange with Arab states fell by 18.97% in the January-October period to SAR 150.44 billion, compared with SAR 185.66 billion in the same period in 2019 – Zawya  FTSE Russell may delete more Chinese companies from global benchmarks, after Trump administration barred U.S. investment in Chinese firms with military backing - Reuters  UAE’s automobile sales will likely reach 2019 levels in 2022 or a year later after slumping 30% this year – Zawya  US Federal Reserve extended the end date for its Main Street Lending Program by eight days. 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