MENA Daily Morning Brief - 25 August

Transcription

1. Research @M arkaz.com Daily Morning Brief Equity Watch August 25, 2020 Value Traded & Advances/Decline Ratio M . C ap C lose C hange (U S D Bn) P rice % Indicators GC C M ar kets S &P G C C C omposite S audi (TA S I) Q atar(Q E Index) A bu Dhabi (A DI) Kuw ait A ll S hare Index (P R) Kuw ait A ll S hare Index (TR) Dubai (DF M G I) Bahrain (BA X) O man(M uscat S M ) Developed mar kets M S C I World Index U .S . (S &P 500) U .K. (F TS E ) Japan (Topix) Emer ging mar kets M S C I E M Index C hina (S hanghai Indx.) India (S ensex) M TD % YTD 3-Yr 5-Yr P /E % C A GR C A GR TTM 398 2,362 143 188 98 98 67 21 11 105 7,957 9,890 4,570 5,202 6,256 2,281 1,366 3,690 0.7 0.7 0.8 1.5 1.4 1.4 1.5 0.8 1.7 6.5 6.7 5.6 6.2 4.7 4.7 11.2 5.8 3.4 -9.1 1.6 -5.1 3.2 -5.1 3.4 -10.0 0.6 -17.2 0.2 -13.8 3.7 -17.5 -14.3 -15.2 1.6 -7.3 -9.3 0.2 0.9 -2.6 0.5 -9.0 1.0 -8.7 15 18 15 13 12 12 7 9 9 43,780 29,771 2,189 5,791 2,417 3,431 6,105 1,607 1.0 1.0 1.7 0.2 4.9 4.9 3.5 7.4 2.5 7.5 6.2 12.0 -19.1 -6.2 -6.6 0.2 7.9 11.5 -0.3 1.4 22 25 18 17 6,279 5,751 1,012 1,108 3,548 38,799 1.5 0.1 0.9 2.7 2.3 3.2 -0.6 11.0 -6.0 6.4 1.9 8.1 17 15 23 0.7 0.6 7.1 C ompanies V alue Traded Listed A DTV – 1M A dv ances Declines U nchanged (U S D mn) companies (U S D mn) S audi A rabia 2,514 206 137 61 8 Kuw ait 124 165 42 66 57 1,701 99 UA E 234 132 37 19 76 119 Q atar 158 46 27 17 2 134 Bahrain 3 44 27 3 14 2 O man 4 121 23 3 95 3 T otal 3 ,0 36 714 293 169 252 2 ,0 59 Yield Curve & CDS Watch LIBOR (In %) US Treasuries (In %) Blue Chip Watch C ompanies M .C ap (U S D Bn) Saudi A r abia S audi A ramco 1,861 S A BIC 71 S audi Telecom 52 A l-Rajhi Bank 44 NC B 31 United A r ab Emirates TA QA 47 E TIS ALAT 40 34 FAB 19 E mirates N BD Intl. H olding C o. 18 Kuwait 19 N BK 15 KF H 8 Zain 6 Bouby an Bank 4 A gility Q atar 46 Q atar N ational Bank Industries Q atar E zdan H olding Q atar Islamic Bank M asraf A l Ray an Top 5 Gainers * 17 11 10 9 C lose P rice C hange % M TD % YTD % 3-Yr 5-Yr C A GR C A GR P /E TTM 35 89 97 66 39 2.3 -0.2 1.1 -0.8 5.8 -0.4 -0.5 11.7 6.7 -1.0 -5.8 -5.0 0.6 -21.3 -3.5 8.9 15.2 3.1 2.1 9.8 13.0 0.9 29 261 18 17 11 2 17 12 11 36 0.9 6.1 -0.1 15.8 1.8 5.3 27.8 12.6 195.6 3.5 -24.1 -13.1 484.2 36.9 -1.9 2.8 12.2 190.3 22.9 5.6 2.2 5.2 104.2 17 12 6 51 833 617 586 556 618 1.7 1.6 0.3 1.1 1.6 5.6 6.7 6.5 4.7 -3.4 -18.3 -16.3 -2.3 -8.9 -13.1 9.2 12.0 5.3 16.5 2.5 6.4 11.0 8.8 13.8 11.1 20 24 12 33 19 18 -0.8 1.7 -11.1 11.8 6.4 13 10 1 16 4 7.4 -1.4 -0.4 0.7 29.2 1.8 5.3 -1.8 135.0 5.0 4.7 3.0 9.2 19.0 1.7 -4.6 -4.2 7.8 -0.7 38 628 13 14 5-year CDS Spread C ountry  C ompanies S audi Research and M arketing G roup S hamal A z-Zour A l-O ula P ow er and Water Industries Q atar E mirates N BD Bank S audi British Bank Top 5 Losers *  C ompanies S audi Industrial Inv estment G roup A ldar P roperties M ashreqbank N ational P etrochemical C ompany E zdan H olding G roup C ountry KS A Kuw ait Q atar UA E KS A M . C ap C hange (U S D Bn) % 1.5 9.9% 1.2 7.6% 16.8 7.4% 19.4 6.1% 14.7 4.3% M TD % 17.2% 29.2% 27.8% 10.8% YTD % -11.5% -1.8% -13.1% -22.6% M . C ap C hange (U S D Bn) % M TD % YTD % 2019 87.2 47.9 175.5 57.6 46.7 240.0 337.8 - 58.5 34.8 91.0 44.9 36.8 266.0 167.1 3,065.7 KS A A bu-Dhabi Dubai Kuw ait Q atar O man Bahrain Lebanon High Low 232.4 155.0 324.6 84.0 181.0 637.0 508.5 13,893.4 58.5 34.6 90.6 30.4 36.5 199.0 158.5 1,145.4 Interest Rate Watch Deposit Rate 3M Rate % S pread % U .S . 0.1 Kuw ait 1.2 KS A ** 0.8 UA E 0.1 Q atar 0.3 O man 2.1 Bahrain 1.9 E uro Region -0.6 Last F O MC M eeting Date: Jul 28/29 KS A UA E UA E KS A Q atar 2.7 4.5 3.2 3.5 10.5 -2.6% -1.9% -1.6% -1.4% -1.4% P r ecious M etals 24.7% -5.0% 20.2% -3.7% -1.6% -4.8% 12.9% 14.6% 1.8% 135.0% G old $ /oz S ilv er $ /oz IP E Brent $ /bbl Bitcoin/U S D C ur r ency Watch U S D (1 E U R =) Yen (1 U S D =) KWD (1 U S D =) C N Y (1 E U R =) C BO E VIX index Market News  52-Week C urrent 1.1 0.7 0.0 0.2 2.0 1.8 -0.7 5YR Rate 10YR Rate 0.3 0.7 0.9 2.6 1.1 2.2 0.7 1.4 1.4 1.8 4.8 6.1 2.6 5.0 -0.7 -0.5 N ext F O MC M t Date: S ep 15/16 Commodity Watch C ountry 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  KIBOR Yield Curve (%) C lose P rice C hange % M TD % YTD % 1,932.4 26.5 45.1 11,761 -0.4 -0.6 1.8 1.0 -2.1 8.9 4.2 3.6 1.2 106.0 0.3 6.9 22.4 -0.1 0.2 -0.0 0.0 -0.8 0.1 0.1 0.0 -0.8 -8.5 52-Week High Low 27.4 48.9 -31.6 64.1 2,063.2 29.2 68.7 12,297 1,454.3 12.0 19.5 4,841.7 5.1 -2.4 0.9 -0.6 62.3 1.2 112.1 0.3 7.2 82.7 1.1 102.3 0.3 6.9 11.5 Bahrain's government has raised its debt ceiling to 15 billion dinars from 13 billion dinars to help finance public spending. – Zawya  Top U.S. and Chinese officials see progress on resolving issues over the Phase 1 trade deal and both sides are committed to the success of the agreement. - Reuters Saudi inflation to hover between 4-6% y/y in the coming 12 months and then swing into negative territory by July 2021 due to base effects. Price pressures are likely to remain subdued in the next year due to oil-virus shocks, and labour market policies. – MUFG  Sovereign wealth funds invested $4.4 billion in real estate in the first seven months of 2020, 65% down from the same period a year ago - Reuters This report has been prepared and issued by Kuwait Financial Centre K.P.S.C (Markaz), which is regulated by the Capital Markets Authority and the Central Bank of Kuwait. The report is owned by Markaz and is privileged an d p ro pr ieta r y a nd i s subject to copyrights. Sale of any copies of this report is strictly prohibited. This report cannot be quoted without the prior written consent of Markaz. Any user after obtaining Markaz permission to use this report must clearl y mention the sour c e a s “Markaz “. This Report is intended to be circulated for general information only and should not to be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any financial instruments or to participate in any p a rti c ul a r tra d in g strategy in any jurisdiction. The information and statistical data herein have been obtained from sources we believe to be reliable but in no way are warranted by us as to its accuracy or completeness. Markaz has no obligation to update, mod if y o r amend this report. For further information, please contact ‘Markaz’ at P.O. Box 23444, Safat 13095, Kuwait. Tel: 00965 1804800 Fax: 00965 22450647. Email: research@markaz.com