MENA Weekly Investment Report

Transcription

1. Weekly Investment Report Sunday , November 05, 2017 Economic & Market News Reuters: U.S. job growth accelerated in October after hurricane-related disruptions in the prior month, but wages grew at their slowest annual pace in more than 1-1/2 years in a sign that inflation probably will remain benign. Non-farm payrolls increased by 261,000 last month as 106,000 leisure and hospitality workers returned to work, according to official data. That was the largest gain since July 2016 but below economists’ expectations for a jump of 310,000 jobs. Data for September was revised to show a gain of 18,000 jobs instead of a decline of 33,000 as previously reported. Average hourly earnings slipped one cent in October, leaving them unchanged in percentage terms, in part due to the return of the lower-paid leisure and hospitality workers. Wages shot up 0.5% in September. They were up 2.4% on a YoY basis last month, the smallest gain since February 2016, after a 2.8% advance in the prior month. October’s job growth acceleration reinforced the Federal Reserve’s assessment that “the labor market has continued to strengthen,” and the sluggish wage data did little to change expectations it will raise interest rates in December. Zawya: Saudi Arabia's largest banks reported a drop in loans in the third quarter as credit growth stalled due to a weaker economy, potentially putting future profits at risk. The seven largest banks reported an average drop in loans of around 4.9% at the end of September, compared to the same period of last year. Bank profit growth during the quarter has generally been in line with analysts' forecasts due to widening net interest margins and lower costs. The kingdom's economy has fallen into recession as the oil sector has stagnated and the public sector is hit by austerity policies to curb a state budget in an era of lower oil prices. The sharpest fall in loans and advances during the period was registered by Saudi British Bank , which registered a 7.3% dip from the year earlier period to SAR 116.7 billion (USD 31 billion) at the end of September. Central bank data shows outstanding bank loans to the private sector in September shrank 1.2% from a year earlier, the seventh straight month of falling bank lending. Banks were also hit by a fall in deposits during the quarter, with Banque Saudi Fransi the only one of the seven largest lenders to post a rise in deposits. Saudi banking deposits have come under strain as the government has drawn down cash parked with banks to help plug its budget deficit. Al Masah Capital: For the second week in a row, tech companies powered US markets’ with APPLE’s stellar earnings driving the markets to another set of all-time highs. The renewed expectations on OPEC extending its production cuts led oil prices to two year highs with crude reaching USD62.07 per barrel and WTI at USD55.64 per barrel. For the regional markets, five out of the eight indices ended the week on a positive note while the remaining three were net losers. Egypt came on top with +2.6% gains over the week on the back of improving economic indicators and a recent IMF declaration that Egypt’s economic growth is driven by a “broad-based” recovery across industries. Oman, Saudi, Bahrain and Qatar each advanced by +1.6%, +0.7%, +0.4% and +0.2% respectively. Kuwait was the worst performer among its peers with a -1.1% losses over the week, followed by UAE markets with Dubai losing -0.8% and Abu Dhabi -0.1%. Going into the new week, positive news-flow focusing on Emaar Development IPO (which was covered fully on the first day of the offering), and strong oil prices should have a positive effect on trading activities, although the volatile regional geo-political dynamics can always throw up a surprise. Last WTD (%) MTD (%) YTD (%) Last WTD (%) MTD (%) YTD (%) Dubai (DFMGI) 3,622.24 -0.79% -0.37% 2.59% Oil (Brent) 60.49 3.51% 5.13% 62.26% Abu Dhabi (ADSMI) 4,465.15 -0.06% -0.32% -1.79% Natural Gas 2.89 -0.89% -3.79% 23.79% Saudi (SASEIDX) 6,956.51 0.66% 0.32% -3.52% Gold 1274.01 -0.23% -0.40% 20.09% Kuwait (KWSE) 6,548.42 -1.13% 0.53% 13.92% Silver 17.12 1.24% 3.10% 23.79% Egypt (EGX30) 14,319.34 2.61% -0.16% 15.99% EURUSD 1.16 -0.01% -0.32% 6.88% Qatar (DSM) 8,146.23 0.22% -0.23% -21.95% GBPUSD 1.31 -0.40% -1.57% -11.29% Bahrain (BHSEIDX) 1,282.85 0.43% 0.48% 5.11% USDJPY 114.06 0.34% 0.39% -5.19% Oman (MSM30) 5,040.19 1.65% 0.59% -12.84% USDCHF 1.00 0.30% 0.30% -0.13% TR GCC (Reuters) 193.10 -0.72% -0.16% -4.69% AUDUSD 0.77 -0.34% -0.07% 5.15% DJ MENA 526.67 0.00% 0.26% 5.77% USDCAD 1.28 -0.34% -0.95% -7.79% Last WTD (%) MTD (%) YTD (%) US Dollar WoW (%) Euro WoW (%) DJI 23,539.19 0.45% 0.69% 19.11% 1 Month 1.333 1.58% -0.391 -0.58% S&P 500 2,587.84 0.26% 0.49% 15.59% 2 Month 1.391 0.97% -0.378 -0.90% NASDAQ 6,295.58 1.32% 0.75% 29.44% 3 Month 1.589 1.60% -0.316 -1.95% 396.06 0.67% 0.21% 9.58% 6 Month 1.453 0.00% -0.300 0.14% FTSE 100 7,560.35 0.74% 0.90% 5.85% 12 Month 1.736 -0.02% -0.187 0.16% DAX 13,478.86 1.98% 1.88% 17.40% CAC 40 5,517.97 0.43% 0.27% 13.48% Nikkei 225 22,539.12 2.41% 2.40% 17.92% SENSEX 33,685.56 1.59% 1.42% 26.51% Shanghai Composite 3,371.74 -1.32% -0.64% 8.64% Hang Seng 28,603.61 0.58% 1.27% 30.01% Indexes Indexes STOXX Europe 600 Data and News Source: Thomson Reuters Commodities & FX LIBOR 1
2. Weekly Investment Report Sunday , November 05, 2017 Economic & Market News (continued) Zawya: Fitch Ratings confirmed the strength of Saudi Arabia's economy and the effectiveness of economic reforms being carried out by the government of the Kingdom. In addition, Fitch affirmed the Kingdom's strong credit rating at ‘A+’ with stable outlook. Fitch said that Saudi Arabia’s ratings are "supported by strong fiscal and external balance sheets, including exceptionally high international reserves, low government debt, significant government assets and strong commitment to an ambitious reform agenda." The Fitch report said central government deficit is expected to narrow to 8.7% of GDP in 2017, from 17.2% in 2016, largely as a result of higher oil prices and because clearance of arrears that widened the 2016 deficit by 4.4% of GDP will no longer be necessary. Fitch praised the strength of the Saudi banking system, where it classified the banking sector in the Kingdom as "A", which is a very strong rating with only four countries in the world receiving such higher rating. This in turn reflects the stable profits built on huge capital. The shares for regulatory capital from the first tranche of the sector was 17.2% at the end of June 2017. Reuters: Japan’s industrial output fell less than expected in September and companies expect output to rise in October, keeping the economy on an expansion path. Labor demand remained at the strongest level in 43 years, but household spending unexpectedly fell in September, raising some concern about the lack of impact a tight jobs market had on consumer spending. The Bank of Japan is expected to signal at a policy meeting that it will hold off on expanding stimulus for the time being, but it may still struggle to explain why economic growth is not pushing up consumer prices. Manufacturers surveyed by the trade ministry expect output to rise 4.7% in October and fall 0.9% in November. Japan’s jobless rate held steady at 2.8% in September, data from the Internal Affairs Ministry showed, matching the median estimate. The jobs-to-applicants ratio also held steady at 1.52 in September from the previous month, showing labor demand remains at the strongest in 43 years. Household spending fell 0.3% percent in September from a year earlier in price-adjusted real terms, compared with economists’ median estimate of a 0.7% annual increase. Economic growth has been slow to translate into higher consumer prices, which is frustrating the BOJ’s efforts to reflate the economy. Core consumer prices rose 0.7% in September from a year ago, well away from the BOJ’s 2% inflation target. Zawya: The economy of the UAE will grow at a lower rate this year due to the continuation of lower oil prices, according to IMF, estimating oil prices to average USD 53 per barrel in the coming two-to-three years. The economies of the six GCC countries that include Saudi Arabia and the UAE, the Middle East’s two biggest economies, have been badly impacted by the steep decline in oil prices which began in 2014. The prices of the important commodity almost halved between June and December 2014, but have been on a slow recovery path since the start of last year. For the UAE in general, growth in 2017 is expected to be at 1.3% and next year 3.4%. Abu Dhabi’s economy is expected to grow by only 0.3% this year, down from a growth rate of 2.8% in 2016, which is mainly due to the fact that its oil-based GDP is predicted to contract by 2.7% this year. However, IMF said the emirate’s economy is forecasted to grow by 3.2% in 2018. The non-oil sector in Abu Dhabi and Dubai is almost growing at the same speed, around 3%. Abu Dhabi, because of the size of the oil sector and the oil sector because of the OPEC-led agreement to reduce production and exports, went down this year. But it will recover next year. US Government Bonds - Yield to Maturity (%) 4 2.937 2.822 3 2.428 2.343 2.043 2.005 2 1.418 1.470 1.270 1.301 1.100 1.177 0.977 1.015 1.603 1.625 1 0 1M 3M 6M 12M 2Y 5Y Last Week 10Y 30Y Current Week Global Equity Indexes - Rebased CBOE S&P Volatility Index - VIX 130 50 120 40 110 100 30 90 20 80 10 70 S&P 500 STOXX Europe 600 TR MENA 12 PE 11.7 11.1 9.4 1.2 2.1 1.6 - - Oct-17 Jul-17 Sep-17 Jun-17 Aug-17 Apr-17 May-17 Jan-17 Feb-17 Mar-17 Oct-16 243.9 161.7 132.4 1.1 Dec-16 347.7 300 1.6 Nov-16 Jul-16 Sep-16 Jun-16 Aug-16 Apr-16 May-16 Jan-16 Feb-16 Mar-16 Oct-15 Dec-15 Nov-15 Jul-15 Sep-15 Jun-15 Aug-15 Apr-15 May-15 Jan-15 Feb-15 Mar-15 12.3 11.6 8 4 5-Year CDS Rates (basis points) PB 600 13.6 10.3 Oct-14 MSCI Asia ex. Japan MENA Market - Price Ratios 16 Dec-14 Oct-14 Dec-14 Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Jul-17 Sep-17 Nov-14 0 60 - 0.8 0.9 1.5 62.2 101.6 82.3 - 0 - 0 Dubai Abu Dhabi Saudi Kuwait Egypt Data and News Source: Thomson Reuters Qatar Bahrain Oman Average Dubai Abu Dhabi Saudi Kuwait Egypt Qatar Bahrain Oman Average 2
3. Weekly Investment Report Sunday , November 05, 2017 Government Bonds Government Bond Name Currency Maturity Coupon Current Yield (%) YTM - Ask (%) Rating * Bid Ask 106.88 106.94 UAE - Emirate of Abu Dhabi ABU DHABI GOVT INT'L USD 08/04/2019 6.75 1.81 1.81 Aa2 United States of America US TREASURY N/B USD 31/05/2020 1.50 1.70 1.71 AAA 99.49 99.51 United Kingdom of Great Britain UK TSY 4 3/4% 2020 GBP 07/03/2020 4.75 0.42 0.43 AA 110.05 110.09 Kingdom of Bahrain KINGDOM OF BAHRAIN USD 31/03/2020 5.50 4.59 4.59 102.81 103.12 UAE - Emirate of Dubai DUBAI GOVT INT'L BONDS USD 05/10/2020 7.75 2.63 2.63 114.25 114.75 United States of America US TREASURY N/B USD 15/05/2025 2.13 2.23 2.24 AAA 99.29 99.31 State of Qatar STATE OF QATAR USD 15/06/2030 9.75 4.02 4.02 Aa3 156.19 157.19 Arab Republic of Egypt ARAB REPUBLIC OF EGYPT USD 30/04/2040 6.88 6.85 6.85 B3 100.31 101.19 United States of America US TREASURY N/B USD 15/05/2045 3.00 2.80 2.81 AAA 103.89 103.92 Kingdom of Bahrain KINGDOM OF BAHRAIN USD 19/09/2044 6.00 7.18 7.17 BB+ 85.99 86.61 Corporate Bonds Government/Parent Company Bond Name Currency Maturity Coupon Current Yield (%) YTM - Ask (%) Rating * Bid Ask Abu Dhabi Water & Electricity TAQA ABU DHABI NATL ENER USD 01/08/2018 7.25 2.23 2.23 BBB+ 103.63 103.66 Abu Dhabi Water & Electricity TAQA ABU DHABI NATL ENER USD 16/09/2019 6.25 2.50 2.50 BBB+ 106.76 106.85 Qatar Petroleum RAS LAFFAN LNG 3 USD 30/09/2019 6.75 2.73 2.74 A 107.38 107.47 National Bank of Oman NATIONAL BANK OF OMAN USD 07/10/2019 3.13 3.33 3.34 Baa3 99.63 99.72 Qatari Diar Real Estate Invest QATARI DIAR FINANCE QSC USD 21/07/2020 5.00 3.01 3.01 Aa3 105.13 105.88 Stichting Waha Aerospace WAHA AEROSPACE BV USD 28/07/2020 3.93 2.61 2.61 AA 101.88 102.63 Qatar Petroleum RAS LAFFAN LNG II USD 30/09/2020 5.30 3.11 3.11 A 103.51 103.59 Investment Corp of Dubai EMIRATES NBD PJSC EUR 23/03/2022 1.75 1.00 1.00 A+ 103.20 103.90 Saudi Electricity Co SAUDI ELECTRICITY GLOBAL USD 03/04/2022 4.21 2.98 2.99 A 105.04 105.79 Emaar Malls Group PJSC EMG SUKUK LTD USD 18/06/2024 4.56 3.83 3.83 Baa2 104.25 104.69 Emirate of Sharjah United Arab SHARJAH SUKUK LTD USD 17/09/2024 3.76 3.24 3.25 BBB+ 103.19 103.50 Qatar Petroleum RAS LAFFAN LNG 3 USD 30/09/2027 5.84 3.68 3.68 A 113.42 113.75 Qatar Gas Transport Co Ltd NAKILAT INC USD 31/12/2033 6.07 4.05 4.05 A 117.01 117.48 Port & Free Zone World FZE DP WORLD LTD USD 02/07/2037 6.85 4.92 4.92 BBB+ 124.09 125.09 Burgan Bank SAK BURGAN TIER 1 FINANCING USD Perpetual 7.25 5.93 7.24 102.33 103.04 Emirates NBD PJSC EMIRATES NBD 2014 TIER 1 USD Perpetual 6.38 4.77 6.12 104.25 104.75 Data and News Source: Thomson Reuters * Thomson Reuters composite rating; NR = No Rating 3
4. Weekly Investment Report Sunday , November 05, 2017 Money Markets UAE EIBOR Deposit Rates Swap Rates 1 Week 1 Month 2 Months 3 Months 6 Months 12 Months 1.0862 1.3163 N/A 1.5732 1.8145 2.2137 T/N 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months 1.14 0.75 1.27 1.34 1.10 1.59 1.80 1.93 1 Year 2 Years 3 Years 4 Years 5 Years 7 Years 10 Years 1.88 2.16 2.43 2.63 2.83 3.22 3.66 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months 1.46 2.03 1.79 2.05 2.39 2.24 Saudi SAIBOR Deposit Rates Swap Rates Kuwait KIBOR Deposit Rates Swap Rates Egypt EGIBR 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months 0.45 1.28 1.35 1.89 2.02 2.25 2.45 1 Year 2 Years 3 Years 4 Years 5 Years 7 Years 10 Years 2.09 2.41 2.64 2.82 2.98 3.28 3.63 O/N 1 Month 3 Months 6 Months 1 Year 2 Years 3 Years 0.75 1.56 1.81 2.00 2.31 1.88 2.13 O/N T/N 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months 1.84 1.97 0.5 0.37 1.21 1.28 1.35 1.40 1.63 1 Year 2 Years 3 Years 4 Years 5 Years 7 Years 10 Years 1.97 2.16 2.26 0.00 2.40 2.4900 2.6300 O/N < 1 Week 1 Week < 1 Month 1 Month > 1 Month 10.90 9.20 9.31 11.10 11.10 8.85 Re Discount Lending Benchmark 9.25 9.75 8.75 Bank Rates T-Bill Yields QIBOR Qatar T/N 1.18 Deposit Rates 1 Week 1 Month 3 Months 6 Months 9 Months 1 Year 2 Years 3 Years 10.80 11.30 11.50 11.65 11.75 11.80 12.40 12.70 O/N 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months 0.82 0.88 0.97 1.06 1.14 1.29 1.37 1.47 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months 1.16 1.18 1.15 1.25 1.45 1.38 1.90 O/N Deposit O/N Lending Repo Rate 0.75 4.50 4.50 QCB Interest Rates Bahrain BHIBOR O/N 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months 1.30 1.58 2.25 2.33 2.50 2.63 2.90 3.10 O/N Deposit 1W Deposit O/N Repo O/N Secured 1.15 1.50 3.25 3.25 Interest Rates Swap Rates 1 Year 2 Years 3 Years 4 Years 5 Years 7 Years 10 Years 2.63 2.87 2.98 3.05 3.11 3.22 3.35 Data and News Source: Thomson Reuters 4
5. Weekly Investment Report Sunday , November 05, 2017 Top Weekly Performers by Country (* indicates native currency; Data as of the previous Thursday) Close * WTD % YTD % Mkt. Cap. (AED mln) MASHREQBANK PSC 65.00 -12.16% 4.84% 11,539 38,013 TAKAFUL EMARAT INSURANCE PJSC 1.86 -6.06% -26.77% 279 -1.65% 46,406 DRAKE AND SCULL INTERNATIONAL 1.99 -4.33% 3.65% 2,131 -5.26% 5,880 UNION PROPERTIES PJSC 0.89 -2.84% -15.13% 3,809 1.28% -24.04% 11,070 AMLAK FINANCE PJSC 1.10 -2.65% -12.70% 1,650 Close * WTD % YTD % Mkt. Cap. (AED mln) Close * WTD % YTD % Mkt. Cap. (AED mln) NATIONAL BANK OF FUJAIRAH PJSC 4.60 15.00% 0.00% 6,286 ABU DHABI SHIP BUILDING PJSC 2.10 -9.87% -25.80% 445 AXA GREEN CRESCENT INSURANCE CO 0.78 13.04% 11.43% 156 RAS AL KHAIMAH FOR WHITE CEMENT 1.00 -9.09% -18.70% 500 ABU DHABI NATIONAL HOTELS CO 2.95 11.32% -6.94% 2,950 FOODCO HOLDING PJSC 4.30 -8.51% -6.52% 430 RAS AL KHAIMAH POULTRY 3.40 11.11% -1.45% 294 COMMERCIAL BANK INTERNATIONAL 0.77 -6.10% 0.00% 1,338 ABU DHABI AVIATION 3.00 7.14% 0.00% 1,334 GULF PHARMACEUTICAL INDUSTRIES 2.31 -5.71% 9.65% 2,598 Top Gainers Close * WTD % YTD % Mkt. Cap. (SAR mln) Top Losers Close * WTD % YTD % Mkt. Cap. (SAR mln) ARABIAN SHIELD COOPERATIVE INSUR 42.30 13.25% 4.96% 846 AL KATHIRI HOLDING CO 15.10 -15.17% 0.00% 47 RED SEA INTERNATIONAL CO 20.40 12.21% -30.85% 1,224 TRADE UNION COOPERATIVE INSUR 20.88 -7.45% 21.75% 574 AMANA COOPERATIVE INSURANCE CO 26.00 11.02% 34.62% 364 ABDULLAH SAAD MOHAMMED ABO 11.20 -6.35% 0.00% 179 WALAA COOPERATIVE INSURANCE CO 30.65 10.85% 36.83% 1,226 YANBU CEMENT COMPAY SJSC 26.45 -5.54% -34.69% 4,166 RAYDAN COMPANY CJSC 18.00 9.09% 0.00% 405 TAKWEEN ADVANCED INDUSTRIES 9.93 -5.25% -26.99% 943 Top Gainers Close (fils) * WTD % YTD % Mkt. Cap. (KWD mln) Close (fils) * WTD % YTD % Mkt. Cap. (KWD mln) 121.00 12.04% -25.31% 6 KUWAIT CABLE VISION COMPANY 23.10 -19.79% -63.97% 1 AMWAL INTERNATIONAL INVEST 38.70 10.57% 61.25% 7 WARBA INSURANCE COMPANY KSCP 68.10 -14.98% -33.24% 12 AJIAL REAL ESTATE ENTERTAINMENT 192.00 9.71% 6.11% 36 NATIONAL RANGES CO KPSC 22.00 -13.73% -18.52% 6 NAFAIS HOLDING COMPANY KSCP 600.00 7.14% -30.90% 60 WETHAQ TAKAFUL INSURANCE CO 38.00 -13.64% 22.58% 4 FIRST TAKAFUL INSURANCE CO KPSC 69.90 6.07% 42.65% 7 AL MAL INVESTMENT COMPANY KPSC 28.00 -11.95% -33.46% 9 Close * WTD % YTD % Mkt. Cap. (EGP mln) Top Losers Close * WTD % YTD % Mkt. Cap. (EGP mln) OCTOBER PHARMA FOR PHARMA 69.71 20.98% 0.00% 418 MINAPHARM PHARMACEUTICALS SAE 67.42 -15.62% -4.48% 829 NATIONAL COMPANY FOR HOUSING 34.39 19.37% 143.38% 550 NOZHA INTERNATIONAL HOSPITAL 69.56 -13.05% 9.17% 501 EL SHAMS HOUSING AND URBAN 6.09 18.48% 97.73% 737 REACAP FINANCIAL INVESTMENTS SAE 4.91 -12.63% 63.67% 521 ARAB CO FOR LAND RECLAMATION 9.69 17.17% 54.05% 50 EL SHAMS PYRAMIDS CO FOR HOTELS 28.86 -9.98% -9.98% 136 MISR KUWAIT INVESTMENT 0.90 15.38% 5.88% 18 GRAND CAPITAL FOR FINANCIAL 4.44 -9.94% -5.53% 35 Close WTD % YTD % Mkt. Cap. Top Losers Close * WTD % YTD % Mkt. Cap. (QAR mln) AAMAL CO QPSC 7.50 3.45% -44.97% 4,768 SALAM INTERNATIONAL INVESTMENT 7.00 -9.09% -36.65% 807 QATAR NATIONAL CEMENT CO QSC 62.99 3.26% -19.43% 4,154 AL KHALEEJ TAKAFUL GROUP QPSC 10.97 -7.11% -48.01% 283 EZDAN HOLDING GROUP QSC 9.50 3.26% -37.13% 25,427 INVESTMENT HOLDING GROUP 6.55 -5.21% 0.00% 549 OOREDOO QSC 87.80 2.57% -13.75% 28,379 QATAR FUEL CO QSC 92.00 -4.86% -31.03% 9,230 12,592 QATARI GERMAN COMPANY 6.66 -4.86% -34.06% 78 Close * WTD % YTD % Mkt. Cap. (AED mln) SHUAA CAPITAL PSC 1.16 5.45% -21.62% 1,235 EMIRATES ISLAMIC BANK PJSC 7.00 3.70% 0.00% EMIRATES NBD BANK PJSC 8.35 2.45% AIR ARABIA PJSC 1.26 2.44% COMMERCIAL BANK OF DUBAI PSC 3.95 Dubai Top Gainers Kuwait Saudi Abu Dhabi Top Gainers AFAQ EDUCATIONAL SERVICES CO Egypt Top Gainers Qatar Top Gainers QATAR INSURANCE CO SAQ 45.00 Data and News Source: Thomson Reuters 2.25% -38.97% Top Losers Top Losers Top Losers 5
6. Weekly Investment Report Sunday , November 05, 2017 Top 50 MENA Stocks by Market Capitalization (* indicates native currency; Latest data) Country Market Cap (USD mln) Close * YTD % 52w High * 52w Low * P/E P/B Dividend Yield 1 SAUDI BASIC INDUSTRIES CORPORATION SA 79,518 99.40 2 EMIRATES TELECOMMUNICATIONS GROUP AE 42,153 17.80 0.1% 8.6% 105.40 83.50 16.0 1.9 6.0% -0.3% -5.3% 19.00 17.10 17.4 3.7 4.5% 3 SAUDI TELECOM COMPANY SJSC SA 35,893 67.30 -1.5% -7.2% 78.90 59.00 13.9 2.2 5.9% 4 FIRST ABU DHABI BANK PJSC AE 30,564 10.30 -0.5% 3.1% 11.55 8.50 11.6 1.1 4.4% 5 QATAR NATIONAL BANK QPSC QA 6 AL RAJHI BANKING & INVESTMENT CORP SA 29,624 121.10 -0.3% -18.2% 157.27 118.50 8.6 1.5 2.6% 28,036 64.70 0.6% 2.7% 71.70 57.00 12.1 2.0 0.0% 7 SAUDI ELECTRICITY COMPANY SJSC SA 26,888 24.20 -0.4% 8.0% 26.05 17.60 10.9 1.4 2.9% 8 NATIONAL COMMERCIAL BANK SJSC SA 25,813 48.40 2.1% 13.6% 58.00 37.00 10.1 1.6 3.3% 9 DP WORLD LTD AE 20,128 24.25 2.1% 38.5% 24.60 15.53 19.6 2.0 1.6% 10 EMAAR PROPERTIES PJSC AE 16,201 8.31 0.2% 16.5% 8.95 6.37 10.6 1.4 1.8% 11 SAUDI ARABIAN MINING CO SJSC SA 15,860 50.90 -1.4% 30.5% 54.00 37.30 232.5 2.3 0.0% 12 INDUSTRIES QATAR QSC QA 15,342 95.75 0.3% -18.5% 122.00 85.00 22.4 1.7 4.2% 13 JABAL OMAR DEVELOPMENT CO SJSC SA 15,242 61.50 2.0% -17.7% 76.00 59.10 65.7 5.6 0.0% 14 NATIONAL BANK OF KUWAIT SAKP KW 14,911 762.00 -0.7% 23.1% 800.00 561.90 14.7 1.4 3.7% 15 ALMARAI CO SJSC SA 14,587 54.70 -0.7% -0.2% 78.64 46.40 26.4 3.9 1.3% 16 EMIRATES NBD BANK PJSC AE 12,637 8.35 0.0% -1.6% 9.00 7.60 6.2 0.8 4.8% 17 SAMBA FINANCIAL GROUP SJSC SA 11,946 22.40 0.9% -8.0% 27.10 19.30 9.1 1.0 4.2% 18 KUWAIT FINANCE HOUSE KSCP KW 11,116 583.00 -1.4% 18.8% 650.00 436.36 17.2 1.8 2.7% 19 ABU DHABI COMMERCIAL BANK PJSC AE 10,475 7.40 0.1% 7.2% 7.68 5.66 9.6 1.2 5.4% 20 EMIRATES ISLAMIC BANK PJSC AE 10,351 7.00 0.0% 0.0% 11.95 1.57 76.4 5.3 0.0% 21 KINGDOM HOLDING CO SA 10,159 10.28 -1.2% -14.0% 12.95 9.80 67.4 1.3 4.9% 22 SAUDI BRITISH BANK SJSC SA 9,720 24.30 -1.6% -2.8% 28.55 18.55 9.5 1.1 2.9% 23 RIYAD BANK SJSC SA 9,472 11.84 -0.7% 2.5% 12.06 9.90 10.9 0.9 5.5% 24 BANQUE SAUDI FRANSI SJSC SA 9,241 28.75 1.2% 10.2% 33.40 22.10 9.9 1.1 3.7% 25 YANBU NATIONAL PETROCHEMICALS CO SA 8,370 55.80 0.2% 3.3% 61.75 44.00 14.3 2.0 5.4% 26 DUBAI ISLAMIC BANK PJSC AE 8,182 6.08 -0.7% 9.2% 6.29 5.01 8.4 1.2 7.4% 27 EMAAR MALLS PJSC AE 8,151 2.30 -0.4% -12.2% 2.80 2.25 15.7 1.8 4.3% 28 OOREDOO QSC QA 7,449 87.80 2.2% -13.8% 116.10 80.00 14.7 1.2 4.0% 29 ALINMA BANK SJSC SA 7,040 17.60 0.8% 16.6% 18.46 13.65 14.2 1.3 2.8% 30 MASRAF AL RAYAN QPSC QA 6,998 35.23 -1.4% -6.3% 45.40 33.05 12.7 2.1 5.7% 31 MOBILE TELECOMMUNICATIONS CO KW 6,868 480.00 3.0% 17.1% 570.00 390.00 11.9 1.6 7.3% 32 EMIRATES INTEGRATED TELECOMM AE 6,697 5.38 -0.2% 0.0% 6.49 5.20 14.7 3.2 0.0% 33 EZDAN HOLDING GROUP QSC QA 6,674 9.50 0.0% -37.1% 16.58 8.88 13.1 0.8 5.3% 34 DAMAC PROPERTIES DUBAI CO PSC AE 6,425 3.90 -1.3% 54.2% 4.57 1.91 7.5 1.8 6.4% 35 SAUDI ARABIA FERTILIZERS CO SJSC SA 6,422 57.80 0.0% -22.9% 82.00 57.00 22.2 3.5 4.3% Company Name Data and News Source: Thomson Reuters MTD % 6
7. Weekly Investment Report Sunday , November 05, 2017 Top 50 MENA Stocks by Market Capitalization — Continued (* indicates native currency; Latest data) Country Market Cap (USD mln) Close * MTD % YTD % 52w High * 52w Low * P/E P/B Dividend Yield 36 ARAB NATIONAL BANK SA 6,346 23.80 1.3% 7.4% 25.50 16.20 8.0 1.0 3.8% 37 QATAR ISLAMIC BANK QPSC QA 6,070 97.00 0.0% -6.6% 110.50 86.90 10.1 1.2 4.9% 38 SAVOLA GROUP COMPANY SJSC SA 5,624 39.50 -0.5% -1.5% 51.00 30.30 0.0 2.5 0.0% 39 QATAR ELECTRICITY AND WATER CO QSC QA 5,270 180.90 -1.1% -20.3% 247.90 171.52 12.3 2.3 4.1% 40 COMMERCIAL INTERNATIONAL BANK EGP EG 5,158 78.14 -0.9% 6.9% 88.80 53.00 15.9 3.8 0.6% 41 AHLI UNITED BANK BSC BA 5,139 0.68 0.0% 16.9% 0.79 0.57 9.0 1.2 6.0% 42 ALDAR PROPERTIES PJSC AE 5,010 2.34 -1.7% -11.0% 2.78 2.10 6.7 0.8 4.7% 43 MESAIEED PETROCHEMICAL HOLDING CO QA 4,152 12.48 -0.2% -21.0% 16.50 12.00 14.5 1.1 0.0% 44 SAUDI KAYAN PETROCHEMICAL CO SJSC SA 3,696 9.24 2.2% 4.4% 9.85 6.60 14.1 1.0 0.0% 45 ALAWWAL BANK SA 3,487 11.44 -0.5% -18.0% 14.20 9.60 19.8 1.0 0.0% 46 AGILITY PUBLIC WAREHOUSING CO KSCP KW 3,412 774.00 -0.3% 37.3% 984.00 436.36 0.0 1.0 1.6% 47 JARIR MARKETING CO SJSC SA 3,394 141.40 0.7% 22.2% 158.80 90.00 15.8 8.6 0.0% 48 RABIGH REFINING AND PETROCHEMICAL SA 3,345 14.32 0.3% 21.9% 15.10 8.95 13.0 1.4 0.0% 49 QATAR INSURANCE CO SAQ QA 3,305 45.00 1.1% -39.0% 77.39 43.07 19.1 1.3 2.9% 50 BOUBYAN BANK KSCP KW 3,302 439.00 -0.2% 16.7% 476.00 366.67 23.2 2.3 1.3% Company Name Total MCap; Weighted Avg Div Yield 651,861 3.6% Data and News Source: Thomson Reuters Disclaimer: This report is prepared by Al Masah Capital Management Limited (“AMCML”). 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