Kuwait Financial Centre Markaz Weekly Wrap - 17 December

Transcription

1. Kuwait Financial Centre “Markaz” Weekly Wrap 17 Dec 2017 Equity Watch Indicators MENA Markets Saudi (TASI) Turkey ISE National 100 Abu Dhabi (ADI) Qatar(QE Index) 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 FM Index Shanghai A Share Index 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 % 443 178 130 95 92 79 66 44 22 20 14 8 7,076 109,330 4,339 8,212 400 3,355 12,384 1,416 3,992 1,266 5,062 1,133 -0.14 1.31 1.46 5.64 1.51 -1.12 -0.02 3.59 1.20 -0.14 -0.08 1.28 1.02 5.57 1.31 6.45 0.25 -1.89 -1.47 1.44 0.72 -1.41 -0.94 1.57 -1.9 39.9 -4.6 -21.3 5.2 -5.0 6.4 30.1 -1.9 3.7 -12.5 -6.6 4 9 6 0 -0 12 30 73 -4 0 7 4 15 9 11 12 14 9 20 14 14 8 11 6 4.4 2.9 5.5 5.0 3.7 5.2 3.4 2.7 4.7 5.2 5.9 7.7 1,119 0.70 1,102 0.05 3,421 -0.73 33,463 0.64 97 0.79 0.23 0.54 -1.56 1.92 1.42 29.7 23.7 5.3 25.7 -2.4 9 2 -12 2 4 16 15 16 24 15 2.2 3.1 1.9 1.2 3.4 0.78 1.27 2.60 -0.14 0.34 19.1 19.5 4.9 18.7 13.8 5 10 14 0 7 21 24 20 19 16 2.4 2.2 3.8 1.6 2.6 5,189 121 4,914 902 894 39,077 2,086 24,063 2,676 2,756 7,491 3,558 22,694 1,399 13,068 0.58 0.92 1.31 0.87 0.18 2016 P/E Div. % TTM Yield Yield Curve Watch LIBOR (In %) US Treasuries (In %) KIBOR Yield Curve (%) Interest Rate Watch - P/E & Div. Yield for GCC as per Zawya * Fixed Income Watch (*Bond & Sukuk Index) Deposit rate Government Bonds YTM % 2016-End, % YTD Chng, % Spread (bps) Duration (yrs) Kuwait 1.40 Saudi 1.50 UAE 1.38 Qatar 1.38 Oman 0.19 Bahrain 2.60 Euro -0.44 UK 0.76 Switzerland -0.90 Japan -0.10 Last FOMC Meeting Date: Dec 12/13 US Tres. 10yr 2.355 2.431 -0.076 8.91 Germany U.K Japan 10yr 10yr 10yr 0.301 1.144 0.044 0.208 1.250 0.041 0.093 -0.106 0.003 -205.4 -121.1 -231.1 9.43 8.47 9.95 India 10yr 7.107 6.610 0.497 475.2 7.03 China 10yr 3.888 3.005 0.883 153.3 8.27 S&P GCC MENA* 3.38 3.38 0.000 102.5 n/a Commodity/Currency/Volatility Watch Precious Metals Gold $/oz Silver $/oz IPE Brent $/bbl CRB Commodity Index Volatility & Currency CBOE VIX index USD (1 EUR =) Yen (1 USD =) KWD (1 USD =) KWD (1 EUR =) Close WTD % MTD % YTD % 1,255.18 0.59 -1.95 9.0 16.05 1.34 -2.34 0.7 63.23 -0.27 -0.78 11.3 430.42 -0.24 -0.08 1.9 9.42 1.18 112.57 0.30 0.35 -1.67 0.10 0.81 0.07 0.17 -17.59 1.17 -0.42 -0.12 0.99 -32.9 -10.5 3.8 1.3 -9.4 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 % % % 2016 P/E (USD Last Chg MTD YTD % (ttm) Bn) Saudi Arabia (SAR) SABIC 81 100.9 -0.1 0.4 10.3 20 16 STC 36 68.1 -2.2 -1.1 -6.2 6 14 AL-RAJHI BANK 28 64.0 0.5 0.1 1.4 21 12 NCB 27 50.3 -0.7 -1.1 18.1 -17 11 SAUDI ELECTRIC 24 21.8 -9.6 -9.0 -3.3 44 9 United Arab Emirates (AED) ETISALAT 40 17.1 3.3 4.0 -9.3 17 17 FIRST AD BK 30 10.2 -1.0 1.0 2.1 26 12 20 24.2 -0.2 0.4 37.9 -14 20 DP WORLD EMAAR PROPERTI 14 7.0 -8.3 -7.9 -2.5 25 8 EMIRATES NBD 12 8.2 0.6 0.0 -4.0 15 6 Kuwait (KWD) 14 0.72 1.7 0.4 17.0 -13 14 NBK KFH 11 0.58 2.1 4.0 17.5 10 17 6 0.44 -0.5 -0.7 7.1 17 11 ZAIN 4 0.80 3.9 0.6 41.0 29 15 P-AGILITY BOUBYAN BANK 3 0.42 1.7 1.0 11.9 -6 22 Qatar (QAR) 32 124.5 5.5 6.4 -15.9 12 9 QNB 16 95.0 5.6 7.0 -19.1 6 22 INDUSTRIES QAT EZDAN HOLDING 8 11.4 14.1 42.5 -47 -5 4.5 7 85.0 3.6 6.4 -22 36 4.1 OOREDOO MASRAF AL RAYA 7 36.0 4.7 6.1 -10 0 5.5 Companies PAT (Mn) Div % Gr yield 9m 2017 YoY 6.9 6.7 2.4 2.7 4.3 4.7 4.4 1.6 2.2 4.9 3.9 2.7 8.0 1.7 1.4 2.6 4.2 4.5 4.1 5.5 14,728 7,525 6,668 7,246 12,429 12 10 10 3 95 6,475 6,310 4,348 6,169 5 40 20 15 238 138 122 49 34 9 12 -2 14 15 10,251 2,358 1,562 1,559 1,411 6 -32 0 -15 9 3M Int rates % US 3M Rate % Diff FY16 Diff 1.57 -0.17 1.57 -0.07 1.57 -0.19 1.57 -0.19 1.57 -1.38 1.57 1.03 1.57 -2.01 1.57 -0.81 1.57 -2.47 1.57 -1.67 Next FOMC Mt Date: Jan -0.14 0.65 -0.45 0.75 -0.74 0.80 -1.41 -0.65 -1.90 -1.20 30/31 5 year CDS (USD) Watch (bps) Country Current 2016 Saudi Arabia Abu-Dhabi Dubai Qatar Oman Bahrain 95.08 63.08 138.85 103.35 227.00 291.61 113.67 67.98 159.77 88.2 263.5 302.72 52-week High Low 126.39 82.30 69.96 38.72 162.41 103.91 124.66 56.64 276.00 178.00 317.43 209.09 Corporate Earnings Watch Company Name - Earnings Type Country Currency LFY PFY % Chg News & Views  The UAE, Saudi Arabia and Bahrain followed the US in raising key interest rates on Wednesday, following the announcement from the Federal Reserve. The repo rate for borrowing short-term liquidity from the UAE central bank against certificates of deposit has been increased by 25 bps to 1.75 per cent. Saudi Arabia’s central bank raised its reverse repo rate, the rate at which commercial banks deposit money with the central bank, by 25 basis points to 1.50 per cent. Bahrain’s central bank also raised its key interest rate by 25 basis points. The central bank’s key policy interest rate on the one-week deposit facility was raised to 1.75 per cent from 1.50 per cent.  Moody’s Investors Service has affirmed Sharjah's long-term A3 issuer rating and stable outlook thanks to its resilient and diversified economy and the introduction of revenue-raising measures such as value-added tax (VAT) in 2018.  Saudi Arabia’s King Salman approved 72 billion riyals ($19.2 billion) worth of measures to stimulate growth in the private sector as authorities seek to pull the economy out of a slump caused by low oil prices.  The European Central Bank says economic growth and inflation are picking up across the Eurozone, and projected inflation of 1.7% is close to the central bank's target, but the ECB has left stimulus unchanged. Note: 1 Weekend Details – Turkey, Morocco & Lebanon – Saturday & Sunday; MENA, Ex-Turkey, Morocco & Lebanon – Friday & Saturday; US, European & Emerging Markets – Saturday & Sunday. 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