MENA Markets Weekly Wrap - 8 March

Transcription

1. Research @Markaz.com Weekly Wrap 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 (USD Bn) Price Indicators M.Cap (USD Bn) WTD % MTD % YTD 3-Yr 5-Yr P/E % CAGR CAGR TTM Companies 104 7,468 9,309 4,643 5,788 6,688 2,461 1,618 4,108 -2.8 -2.1 -1.9 -5.3 -4.7 -4.7 -5.0 -2.6 -0.6 -2.8 -2.1 -1.9 -5.3 -4.7 -4.7 -5.0 -2.6 -0.6 -10.7 1.5 -11.0 2.6 -10.7 -3.8 -8.5 1.4 -7.9 4.4 -7.8 8.1 -11.0 -11.3 0.5 6.1 3.2 -10.8 -3.7 -4.9 -5.4 0.6 -8.1 1.9 -8.7 15 17 13 12 14 14 6 12 8 Saudi Arabia Kuwait UAE Qatar Bahrain Oman 44,346 25,916 2,250 5,283 2,149 2,972 6,463 1,471 0.4 0.6 -1.8 -2.6 0.4 0.6 -1.8 -2.6 -8.9 -8.0 -14.3 -14.5 5.4 7.9 -4.0 -1.8 4.6 7.8 -0.7 -0.7 20 21 15 13 Yield Curve & CDS Watch 5,932 5,051 957 1,012 3,180 37,577 0.7 5.4 -1.9 0.7 5.4 -1.9 -9.2 -0.5 -8.9 3.1 -1.9 9.1 1.4 -1.6 5.5 14 13 21 Close Price WTD % MTD % YTD % 3-Yr CAGR 5-Yr CAGR P/E TTM 33 78 84 61 42 -1.0 -0.5 2.1 -1.5 -5.2 -1.0 -0.5 2.1 -1.5 -5.2 -6.4 -16.6 -17.2 -6.7 -14.7 -6.6 8.6 14.2 16.3 -3.4 4.2 8.0 -0.9 18 42 16 15 11 13 16 11 -8.4 -1.9 -8.8 -8.4 -1.9 -8.8 -13.5 -5.3 -11.9 8.6 -4.6 12.7 1.3 6.6 5.2 12 16 5 16 7 -0.2 -8.8 -0.2 -8.8 23.8 -17.9 -9.6 -3.8 -4.2 -2.6 10 9 969 754 539 610 710 -4.3 -5.0 -3.8 -4.2 -10.7 -4.3 -5.0 -3.8 -4.2 -10.7 -9.4 -7.0 -10.2 -4.8 -13.2 14.4 18.1 3.6 21.3 20.5 7.3 9.3 1.1 13.4 5.8 16 21 11 30 14 19 8 15 4 2 1.9 -11.0 -2.1 0.2 -2.1 1.9 -11.0 -2.1 0.2 -2.1 -6.8 -22.2 -0.3 3.0 -31.0 8.7 -11.1 14.5 0.1 5.0 4.9 -11.5 8.3 -2.9 -9.0 12 19 13 14 18 Total Companies Commercial Bank of Dubai PSC Mouwasat Medical Services Co SJSC Qatar International Islamic Bank QPSC Oman Telecommunications Co SAOG Aamal Company QPSC Country UAE KSA Qatar Oman Qatar M. Cap (USD Bn) 3.5 2.4 3.7 1.4 1.3 WTD % 14.6% 5.3% 5.1% 4.2% 3.8% MTD YTD % % 14.6% 13.5% 5.3% 4.0% 5.1% -7.7% 4.2% 16.7% 3.8% -10.2% Top 5 Losers*  Companies Country M. Cap (USD Bn) WTD % MTD % YTD % Qatar Fuel Company QPSC Air Arabia PJSC Industries Qatar QPSC Agility Public Warehousing Co KSCP Saudi British Bank SJSC Qatar UAE Qatar Kuwait KSA 4.6 1.6 13.3 4.1 13.9 -12.4% -11.4% -11.0% -10.7% -9.8% -12.4% -11.4% -11.0% -10.7% -9.8% -26.2% -23.0% -22.2% -13.2% -26.7% 206 164 132 46 44 121 67 24 16 17 18 13 131 113 60 28 11 29 8 27 56 1 15 79 1,061 127 97 65 2 6 1,303 713 155 372 186 1,358 US Treasuries (In %) KIBOR Yield Curve (%) 5-year CDS Spread Country 52-Week Current 2019 81.3 51.5 126.8 41.3 54.5 358.5 176.4 - 58.5 34.8 91.0 44.9 36.8 266.0 167.1 3,869.5 KSA Abu-Dhabi Dubai Kuwait Qatar Oman Bahrain Lebanon High Low 96.1 62.7 148.5 64.2 76.4 358.5 299.1 13,893.4 58.5 34.6 90.6 30.4 36.5 199.0 158.5 738.9 Interest Rate Watch Deposit Rate 3M Rate % Spread % U.S. 0.8 Kuwait 2.6 KSA** 1.1 UAE 1.2 Qatar 1.2 Oman 2.3 Bahrain 1.9 Euro Region -0.6 Last FOMC Meeting Date: Jan 28/29 1.9 0.4 0.4 0.4 1.5 1.2 -1.3 5YR Rate 10YR Rate 0.6 1.4 1.6 1.4 2.6 3.6 4.4 -0.9 Next FOMC Mt Date: Mar 0.8 2.4 2.4 1.8 2.0 5.5 4.7 -0.7 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 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 OPEC failed to reach agreement with Russia on fresh supply cuts after Moscow argued it was too early to predict the impact of a coronavirus outbreak on global energy demand. Existing deal for output cuts will now expire in March, allowing OPEC members and non-OPEC producers in theory to pump at will in an already oversupplied market - Reuters Abu Dhabi's Etihad Airways narrowed losses to $870 million in 2019 as capacity cuts helped it sell more overall seats even though it carried fewer passengers. - Reuters 952 121 100 122 2 6 LIBOR (In %) Top 5 Gainers*   Value Traded Listed ADTV – 1M Advances Declines Unchanged (USD mn) companies (USD mn) 393 2,217 130 134 110 110 73 27 13 Saudi Arabia 1,759 Saudi Arabian Oil Co SABIC 63 Saudi Telecom 45 41 Al-Rajhi Bank NCB 34 United Arab Emirates FAB 39 ETISALAT 37 20 Emirates NBD 13 DP World ADCB 12 Kuwait 21 NBK 17 KFH 8 Zain 6 Boubyan Bank Agility 4 Qatar 49 Qatar National Bank Industries Qatar 13 10 Qatar Islamic Bank 8 Masraf Al Rayan Mesaieed Petro 6  March 08, 2020   Close Price 1,673.9 17.3 45.3 8,748.9 WTD % 5.6 3.9 -10.4 2.6 MTD % 5.6 3.9 -10.4 2.6 52-Week YTD % High Low 10.3 1,673.9 1,270.3 -2.9 19.6 14.3 -31.4 74.5 50.1 22.0 12,921.3 3,848.5 1.1 105.3 0.3 6.9 41.9 2.4 -2.6 -0.2 -0.9 4.6 2.4 -2.6 -0.2 -0.9 4.6 0.7 -3.0 0.8 -0.5 204.4 1.1 112.2 0.3 7.2 40.1 1.1 105.3 0.3 6.7 11.5 Kuwait Petroleum Corp (KPC) has offered its first Khafji crude oil cargo from the Saudi Arabia-Kuwait Neutral Zone for export in April, five years after a dispute-disrupted supply. Oil production from the Neutral Zone was expected to reach 550,000 bpd before the end of the year. – Reuters Kuwait's central bank lowered its discount rate to 2.5% from 2.75%, a day after the U.S. Fed's emergency rate cut. KSA, UAE & others have also followed suit.– 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 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 “. 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