MENA Daily Morning Brief - 5 March

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) Saudi Arabia 1,762 Saudi Aramco SABIC 63 Saudi Telecom 45 41 Al-Rajhi Bank NCB 34 United Arab Emirates 40 FAB 36 ETISALAT 20 Emirates NBD 13 DP World 12 ADCB Kuwait 21 NBK 17 KFH 8 Zain 6 Boubyan Bank 4 Agility Qatar 48 Qatar National Bank Industries Qatar 13 10 Qatar Islamic Bank 8 Masraf Al Rayan Mesaieed Petro 6 MTD % YTD 3-Yr 5-Yr P/E % CAGR CAGR TTM Companies 104 7,525 9,247 4,670 5,842 6,751 2,479 1,629 4,102 -0.7 -0.4 -0.1 -2.8 -0.9 -0.9 -2.2 -0.5 0.1 -2.4 -1.4 -2.6 -4.7 -3.8 -3.8 -4.3 -1.9 -0.7 -10.4 1.3 -10.3 2.6 -11.3 -4.5 -8.0 0.5 -7.0 4.5 -6.9 8.2 -10.3 -11.3 1.2 6.8 3.0 -10.9 -1.9 -4.6 -5.3 0.4 -7.9 2.1 -8.9 15 17 13 12 14 14 6 12 9 Saudi Arabia Kuwait UAE Qatar Bahrain Oman 1,145 139 92 68 7 3 206 164 132 46 44 121 65 25 21 15 16 13 135 111 51 30 11 31 6 28 60 1 17 77 1,063 127 96 60 2 6 Total 1,453 713 155 369 189 1,355 44,346 26,184 2,341 5,343 2,243 3,130 6,816 1,503 2.9 4.2 1.4 -0.2 4.8 6.0 3.6 -0.6 -4.9 -3.1 -9.6 -12.7 6.7 9.6 -2.5 -1.1 5.2 8.6 -0.3 -0.5 20 21 16 13 Yield Curve & CDS Watch 5,932 4,998 980 1,038 3,156 38,409 1.0 0.6 -0.6 3.2 4.6 0.3 -6.9 -1.2 -6.9 3.6 -2.3 9.8 1.3 -1.5 5.5 15 13 21 Close Price Change % MTD % YTD % 3-Yr CAGR 5-Yr CAGR P/E TTM 33 79 84 61 42 0.4 -0.6 -1.9 -0.9 -0.3 1.8 -1.0 -4.5 -6.2 -16.4 -17.4 -6.3 -14.1 -7.1 8.4 14.1 16.4 -3.4 4.8 8.1 -1.2 18 42 16 15 11 13 15 12 16 7 -5.0 -0.8 -2.5 0.4 -2.8 -6.8 -3.2 -6.0 -0.9 -8.7 -12.0 -6.5 -9.2 22.9 -17.8 7.8 -5.3 13.8 -9.2 -3.9 1.5 6.5 5.9 -4.4 -3.3 12 15 5 10 9 971 764 548 610 732 -1.8 -0.7 -3.0 -4.1 -3.8 -2.1 -4.2 -7.9 -9.3 -5.8 -8.7 -4.8 -10.5 13.9 17.9 4.2 20.8 22.4 6.4 9.3 1.4 12.7 6.1 16 21 11 30 14 19 8 15 4 2 2.8 -2.6 -0.5 -0.5 -0.8 -0.2 -12.6 -2.4 -0.9 -3.1 -8.7 -23.5 -0.7 1.8 -31.6 7.9 -11.9 14.7 -0.1 2.9 4.4 -11.7 8.6 -2.2 -9.1 12 18 13 14 18 Companies Etihad Etisalat Company SJSC Commercial Bank PSQC Mobile Telecom Co Saudi Arabia SJSC Qatar National Bank QPSC Southern Province Cement Co SJSC LIBOR (In %) Country KSA Qatar KSA Qatar KSA M. Cap Change (USD Bn) % 4.7 4.6% 5.0 3.2% 1.6 3.1% 47.7 2.8% 2.1 2.6% MTD % 0.3% 0.3% 4.0% -0.2% -7.0% YTD % -8.0% -3.4% -10.4% -8.7% -13.8% Companies Country M. Cap Change (USD Bn) % MTD % YTD % United Development Company QPSC Aramex PJSC Qatar Fuel Company QPSC First Abu Dhabi Bank PJSC Boubyan Petrochemical Company KSCP Qatar UAE Qatar UAE Kuwait -7.9% -7.4% -8.1% -6.8% -6.3% -26.8% -15.7% -22.5% -12.0% -11.5% 1.1 1.2 4.8 39.7 1.0 -6.9% -5.6% -5.2% -5.0% -4.7% 5-year CDS Spread Country 2019 78.9 44.7 117.2 41.3 50.2 283.5 179.0 - 58.5 34.8 91.0 44.9 36.8 266.0 167.1 3,065.7 High Low 96.1 62.7 148.5 64.2 76.4 347.5 299.1 13,893.4 58.5 34.6 90.6 30.4 36.5 199.0 158.5 714.7 Interest Rate Watch Deposit Rate 3M Rate % Spread % U.S. 0.9 Kuwait 2.5 KSA** 1.2 UAE 1.2 Qatar 1.9 Oman 2.3 Bahrain 1.9 Euro Region -0.6 Last FOMC Meeting Date: Jan 28/29 1.6 0.2 0.3 0.9 1.3 1.0 -1.5 5YR Rate 10YR Rate 0.8 1.6 1.9 1.7 2.6 3.7 4.4 -0.8 Next FOMC Mt Date: Mar 1.0 2.4 2.4 2.0 2.2 5.4 4.7 -0.6 17/18 Commodity Watch Precious Metals 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 Market News Zawya 52-Week Current KSA Abu-Dhabi Dubai Kuwait Qatar Oman Bahrain Lebanon 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 UAE central bank's new guidelines to banks to mitigate coronoavirus risk will support the economy amid outbreak, but will diminish transparency. The measures include re-scheduling loan contracts, temporary deferrals on monthly loan payments, and reducing fees and commissions for affected customers. – Moody’s Saudi Basic Industries Corporation (SABIC) reported a 74% decline in net profits for 2019. – US Treasuries (In %) KIBOR Yield Curve (%) Top 5 Losers*   Value Traded Listed ADTV – 1M Advances Declines Unchanged (USD mn) companies (USD mn) 397 2,223 129 134 111 111 74 27 13 Top 5 Gainers*   March 05, 2020   Close Price 1,635.4 17.2 51.1 8,753.3 Change % -0.2 -1.4 -0.0 MTD % 3.2 3.1 1.2 2.6 52-Week YTD % High Low 7.8 1,660.4 1,270.3 -3.6 19.6 14.3 -22.5 74.5 50.5 22.1 12,921.3 3,842.9 1.1 107.5 0.3 6.9 32.0 -0.3 0.4 0.0 -0.5 -13.1 1.0 -0.5 0.0 -0.9 -20.2 -0.7 -1.0 1.0 -0.5 132.1 1.1 112.2 0.3 7.2 40.1 1.1 105.3 0.3 6.7 11.5 The real estate sector in Kuwait has continued its positive trajectory that started four years ago, as it recorded sale transactions worth KWD 3.7 billion in 2019, signaling the second-highest level since 2015.– Kuwait Finance House Number of Ultra High Net worth Individuals in the GCC is expected to grow by 26% over the next 5 years to over 9,100. KSA will host 57% of these UHNWI & the UAE will be home to 23% over the 5 year period– Knight Frank 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 and proprietary and is 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 clearly mention the source as “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 particular trading strategy in any jurisdiction. 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