Kuwait Financial Centre Markaz Weekly Wrap - 05 March

Transcription

1. Kuwait Financial Centre “Markaz” Weekly Wrap 05 March, 2017 Equity Watch Indicators MENA Markets Saudi (TASI) Turkey ISE National 100 Qatar(QE Index) Abu Dhabi (ADI) Kuwait SE WT.INDEX Dubai (DFMGI) Morocco (CAI) Egypt (Hermes) Jordan (Amman) Bahrain (BAX) Oman(Muscat SM) Lebanon (BSE) Emerging Markets MSCI EM Index MSCI BRIC Index Shanghai Index (China) SENSEX Index (India) S&P GCC Composite Developed Markets MSCI WORLD Index US (S&P 500) UK (FTSE) Japan (Nikkei 225) Germany (DAX) M. Cap (USD Bn) Last Close WTD % MTD % YTD % 2016 P/E Div. % TTM Yield 438 156 136 119 98 84 59 37 22 21 17 9 7,017 89,722 10,721 4,596 425 3,584 11,947 1,106 4,208 1,342 5,815 1,223 -0.42 1.66 -1.87 -1.22 -0.61 -1.38 1.44 0.51 1.13 -0.58 -0.59 0.00 0.63 2.56 0.18 0.97 0.12 -1.29 0.18 3.22 0.60 -0.60 0.61 0.00 -2.7 14.8 2.7 1.1 11.7 1.5 2.6 1.5 3.4 9.9 0.6 0.8 4 9 0 6 -0 12 30 73 -4 0 7 4 15 10 15 11 17 10 20 9 14 10 10 6 4.1 2.8 3.8 5.5 3.4 4.6 3.5 4.7 4.7 4.5 5.3 2.1 4,284 2,035 4,367 737 894 931 838 3,371 28,832 101 -1.32 -1.35 -1.04 -0.21 -0.96 -0.57 -0.15 -0.70 0.31 0.32 8.0 8.9 3.7 8.3 1.1 9 9 -12 2 4 15 15 16 21 15 2.5 2.3 1.8 1.4 3.4 35,354 21,470 2,453 3,056 1,216 1,849 2,383 7,374 19,469 12,060 0.44 0.67 1.80 0.96 0.94 0.56 0.82 1.53 1.83 1.90 5.6 6.4 3.2 1.9 5.0 5 10 14 0 7 23 22 26 19 16 2.4 2.4 3.9 1.7 2.7 Yield Curve Watch LIBOR (In %) US Treasuries (In %) KIBOR Yield Curve (%) * - P/E & Div. Yield for GCC as per Zawya Fixed Income Watch (*Bond & Sukuk Index) Government Bonds YTM % 2016-End, % YTD Chng, % Spread (bps) Duration (yrs) US Tres. 10yr 2.494 2.431 0.063 8.95 Germany U.K Japan 10yr 10yr 10yr 0.356 1.180 0.065 0.208 1.250 0.041 0.148 -0.069 0.024 -213.8 -131.4 -242.9 9.83 8.97 9.95 India 10yr 6.869 6.610 0.258 437.4 7.12 China 10yr 3.387 3.005 0.382 89.3 8.50 S&P GCC MENA* 3.31 3.38 -0.070 81.6 n/a Interest Rate Watch Deposit rate Commodity/Currency/Volatility Watch Precious Metals Close Gold $/oz 1,234.22 Silver $/oz 17.96 IPE Brent $/bbl 55.90 CRB Commodity Index 434.42 Volatility & Currency CBOE VIX index 10.96 USD (1 EUR =) 1.06 Yen (1 USD =) 113.99 KWD (1 USD =) 0.31 KWD (1 EUR =) 0.32 WTD % MTD % YTD % -1.78 -1.15 7.2 -2.12 -1.88 12.7 -0.16 -1.08 -1.6 0.58 0.42 2.9 -4.45 -0.56 -1.59 -0.06 -0.65 -15.17 -0.42 -1.09 0.01 -0.40 -21.9 -1.0 2.5 0.1 -0.9 2016 Price Close 1,151.46 15.934 56.82 422.27 2016% 9 16 52 13 14.04 1.0513 116.87 0.30538 0.321 -23 -3 -3 1 -3 Blue Chip Watch M. % Cap W Last (USD T Bn) D Saudi Arabia (SAR) SABIC 78 97.8 0.5 STC 35 65.8 0.0 AL-RAJHI BANK 28 64.0 -1.2 SAUDI ELECTRIC 27 24.5 3.2 NCB 22 41.0 -1.0 United Arab Emirates (AED) ETISALAT 42 17.7 -5.9 DP WORLD 18 21.4 1.7 FGB 17 13.9 1.5 NBAD 15 10.7 1.9 EMAAR PROP 15 7.6 0.4 Kuwait (KWD) NBK 14 0.76 2.7 KFH 10 0.61 -1.6 ZAIN 7 0.48 -1.0 KWT FOOD CO. 3 2.62 0.0 BOUBYAN BANK 3 0.43 0.0 Qatar (QAR) QNB 38 150.7 -3.1 INDUSTRIE QAT 19 115.4 -4.6 EZDAN HOLIDIN 11 15.6 -2.3 OOREDOO 9 107.8 -1.4 MASRAF AL RAY 8 40.8 -0.9 Companies % M T D 0.8 0.4 -0.4 2.1 1.5 % P Y 2016 / Div T % E yield D (ttm) 6.8 19 -9.3 6 1.6 21 9.4 42 -3.8 -16 16 15 13 49 9 PAT (Mn) 2016 6.9 17,839 6.7 8,532 2.4 8,126 4.3 2,105 2.7 9,317 % Gr YoY -6.1 17 22.2 -14 8.2 2 7.1 26 6.9 25 17 18 11 11 12 4.5 1.4 7.2 4.2 2.0 8,421 6,026 5,296 3,620 2 0 1 -11 2.7 0.0 -1.0 0.0 1.2 16.9 -13 13.0 10 15.9 17 0.8 30 8.9 -6 15 15 12 19 23 3.9 2.8 7.4 3.8 1.4 295 165 157 41 5 13 2 17 -0.2 -3.4 2.4 1.7 1.6 1.8 -1.8 3.1 5.9 8.4 12 6 -5 36 0 11 24 23 16 15 2.1 3.5 3.2 3.3 4.9 12,365 2,955 1,812 2,193 2,075 10 -34 9 4 0 Note: 1 Weekend Details – Turkey, Morocco & Lebanon – Saturday & Sunday; MENA, Ex-Turkey, Morocco & Lebanon – Friday & Saturday; US, European & Emerging Markets – Saturday & Sunday. Markaz Research can now be accessed on Bloomberg. Type “MRKZ” <Go>. US 3M Rate % Diff 1.10 1.10 1.10 1.10 1.10 1.10 1.10 1.10 1.10 1.10 Next FOMC Mt FY16 Diff -0.15 -0.14 0.65 0.65 -0.14 -0.45 -0.11 0.75 -0.89 -0.74 0.80 0.80 -1.49 -1.41 -0.77 -0.65 -1.96 -1.90 -1.45 -1.20 Date: Mar 14/15 5 year CDS (USD) Watch (bps) Country Current 2016 Saudi Arabia Abu-Dhabi Dubai Qatar Oman Bahrain 99.02 49.79 133.22 71.41 250.50 226.74 113.67 67.98 159.77 88.2 263.5 302.72 52-week High Low 188.01 99.02 114.91 49.79 237.07 125.34 121.84 70.54 309.50 108.50 391.57 226.45 Corporate Earnings Watch Company Name Bank of Sharjah Aayan Real Estate Co. Al Khalij Comm. Bank Qatar Industrial Manufacturing Qatar National Cement Co. -5 -8 14 36 3 0.3 1.1 1.8 1.9 2.3 3M Int rates % Kuwait 0.95 Saudi 1.75 UAE 0.96 Qatar 0.99 Oman 0.21 Bahrain 1.90 Euro -0.39 UK 0.33 Switzerland -0.86 Japan -0.35 Last FOMC Mt Date: Jan 31/Feb 1 Earnings LFY PFY % Chg Type Country Currency 12M UAE AED(Mn) 392 243 61.0 12M Kuwait KWD(Mn) 2.75 2.71 1.4 12M Qatar QAR(Mn) 427 626 -31.8 12M Qatar QAR(Mn) 194 169 14.8 12M Qatar QAR(Mn) 475 464 2.5 News & Views  With fourth-quarter earnings season Europe 600 Index have reported compared with 5% for corporations Analysts expect this trend to continue  Abu Dhabi has achieved a rec-ord low cost for electricity generated by solar power in a deal with an Asian consortium to build the world’s largest singlesite solar facility in the emirate, at 2.42 US cents per kilowatt hour (kWh) for 1.17GW power. almost over, companies in the Stoxx 11% year-over-year profit growth, in the Standard & Poor's 500 index. in 2017. 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