MENA Weekly Investment Report - 1 April

Transcription

1. Weekly Investment Report Sunday , April 01, 2018 Economic & Market News Reuters: The number of Americans filing for unemployment benefits rose just marginally last week, suggesting strong job growth in March that should underpin consumer spending. According to the Labor Department, the initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 229,000 for the week ended March 17, 2018. Claims dropped to 210,000 during the week ended Feb. 24, which was the lowest level since December 1969. Reuters had forecast claims dipping to 225,000 in the latest week. Claims have now been below the 300,000 threshold, which is associated with a strong labor market, for 159 straight weeks. That is the longest such stretch since 1970, when the labor market was much smaller. The labor market is considered to be near or at full employment. The jobless rate is at a 17-year low of 4.1%, not too far from the Fed’s forecast of 3.8% by the end of this year. Prices of singlefamily homes surged in January. Consumer spending could also get a lift from rising home prices, which are helping to boost household wealth. According to the Federal Housing Finance Agency (FHFA), the house price index jumped a seasonally adjusted 0.8% in January after increasing 0.4% in December. Home prices surged 7.3% in the 12 months through January. House price inflation is being fueled by a chronic shortage of properties available for sale. Zawya: Approximately 750,000 jobs are expected to be created in Saudi Arabia and the United States following the signing of landmark agreements worth a total of more than USD 400 billion in 10 key sectors during the ongoing visit of Crown Prince Muhammad Bin Salman, deputy premier and minister of defence. These vital sectors including defence and oil are identified for attracting investments as part of a vibrant economic partnership program in line with the Kingdom’s Vision 2030. The Kingdom and US have signed 46 deals in these sectors, of which 13 are in the oil and gas sector and six each in the defence and technology sectors. There are seven MoU in the health sector, four in manufacturing, three each in mining and petrochemicals, two in investment, and one each in the aviation and energy sectors. More than one fourth of these investments go to the defence sector with an investment of USD 128 billion. The total value of deals signed in the petrochemical sector reached USD72 billion while the deals in the oil and gas sector amounted to a total of USD 54 billion. In the investment sector, the total investment would account for USD 150 billion whereas the MoU in the aviation sector is for buying 16 wide body aircraft with values ranging between USD 2 billion and USD 5 billion. There will be USD 5 billion investments in the technology sector, USD 6 billion in mining, USD 3 billion in health, USD 12 billion in energy, and USD 400 million in manufacturing. Al Masah Capital: Global markets ended the week on a positive note, which was mainly driven by the ease in the geo-political scene. On the regional front, FTSE positive decision granting the inclusion of Tadawul in the EM index was the breaking news during the week; however, the news was already priced in by investors so there were no major surprises in the stocks’ performance. On the winning team, three out of the seven regional indices ended the week on a positive note, with Egypt leading the pack among its peers recording gains of +2.3%. Saudi Arabia and Abu Dhabi came in next with gains of +0.4% and +0.2%, respectively. On the losing team, Dubai was the worst performer with losses of -1.3%, followed by Bahrain -1.2%, Oman -0.6% and Kuwait -0.4%. Most of the regional indices ended the first quarter of 2018 on a positive note, led by the Egyptian market with gains of +16.2%, followed by Saudi Arabia +8.9%. For the coming period, investors’ focus will continue to be on individual markets in the region with potential opportunities and expected flow of foreign funds. Indexes Last WTD (%) MTD (%) YTD (%) Commodities & FX Last WTD (%) MTD (%) YTD (%) 70.27 1.97% 6.83% 5.08% 2.73 4.43% 2.47% -7.45% Dubai (DFMGI) 3,108.53 -1.30% -4.18% -7.76% Oil (Brent) Abu Dhabi (ADSMI) 4,585.40 0.17% -0.27% 4.25% Natural Gas Saudi (SASEIDX) 7,870.87 0.38% 6.09% 8.92% Gold 1324.00 -0.34% 0.48% 1.65% Kuwait (KWSE) 6,633.44 -0.43% -2.06% 3.52% Silver 16.32 -0.25% -0.52% -3.70% -0.24% 1.05% 2.71% Egypt (EGX30) 17,450.15 2.26% 12.78% 16.19% EURUSD 1.23 Qatar (DSM) 8,573.99 -2.85% -0.92% 0.59% GBPUSD 1.40 -0.83% 1.85% 3.72% Bahrain (BHSEIDX) 1,318.40 -1.16% -3.76% -1.00% USDJPY 106.26 1.47% -0.38% -5.69% Oman (MSM30) 4,773.51 -0.57% -4.59% -6.39% USDCHF 0.95 0.68% 0.95% -2.15% TR GCC (Reuters) 190.60 -1.39% -1.41% -0.24% AUDUSD 0.77 -0.23% -1.07% -1.58% TR MENA 134.03 -1.14% -0.73% 1.05% USDCAD 1.29 0.00% 0.48% 2.50% Last WTD (%) MTD (%) YTD (%) US Dollar WoW (%) Euro WoW (%) DJI 24,103.11 2.42% -3.70% -2.49% 1 Month 1.999 0.37% -0.384 -1.72% S&P 500 2,640.87 2.03% -2.69% -1.22% 2 Month 2.312 1.13% -0.371 -3.96% NASDAQ 6,581.13 1.12% -3.99% 2.89% 3 Month 2.452 0.22% -0.325 -1.38% 370.87 1.38% -2.31% -4.70% 6 Month 1.453 0.00% -0.300 0.14% FTSE 100 7,056.61 1.95% -2.42% -8.21% 12 Month 1.736 -0.02% -0.187 0.16% DAX 12,096.73 1.77% -2.73% -6.35% CAC 40 5,167.30 1.41% -2.88% -2.73% Nikkei 225 21,454.30 4.06% -2.78% -5.76% SENSEX 32,968.68 1.14% -3.56% -3.20% Shanghai Composite 3,168.90 0.51% -2.78% -4.18% Hang Seng 30,093.38 -0.71% -2.44% 0.58% Indexes STOXX Europe 600 Data and News Source: Thomson Reuters LIBOR 1
2. Weekly Investment Report Sunday , April 01, 2018 Economic & Market News (continued) Zawya: The residential tenants in Dubai are having it good as rental declines continue in 2018 on the back of deliveries flooding the market. Dubai residential rents decreased by 0.27% in February 2018 and 7.06% YoY. Apartment rents dropped 0.05% in February MoM and 6.5% YoY. In the apartment segment, International City and Dubai Silicon Oasis have witnessed the highest drop in rents in the last year, with rents dropping by 13% and 10%, respectively. Villa rents in Dubai registered a decrease of 1.6% MoM in February 2018 and 10.22% YoY. Areas such as Al Furjan and Jumeirah Golf Estates have witnessed significant rental declines in the last year, with rents declining by 14% and 15%, respectively. Low oil prices and a high rate of handovers in 2017 have put immense pressure on rents as supply is currently outpacing demand. Following the footsteps of Dubai, rents in Abu Dhabi have also been declining over the last 2 years. Apartment rents registered a 1.12% MoM decrease in February and an 11.08% YoY decrease. Villa rents decreased 0.92% MoM and 9.49% YoY. In the apartment segment, areas such as Al Reef Downtown and Al Reem Island noticed the steepest decline in rents in the last year, with rents dropping by 15% and 13%, respectively. Reuters: Euro zone businesses rounded off the first quarter of 2018 with their slowest growth in over a year and much weaker than expected as new business took another hit from a stubbornly strong Euro. According to the HIS Markit’s PMI, there is also a risk the slowdown could be widespread as growth rates in Germany and France both eased back this month, with German business confidence waning. While the Euro zone’s racing economy may have taken its feet off the pedals, growth remained strong. The IHS Markit’s data pointed to a robust first-quarter GDP growth of 0.7%, a touch faster than the 0.6% rate predicted in a Reuter’s poll. However, the indicator did slump to 55.3 this month, far below all forecasts in a Reuter’s poll which had predicted a more modest dip to 56.7 from February’s final reading of 57.1. Even though the decline in the composite PMI seems quite dramatic, the immediate impact on the economy remains limited as the data indicates a slowing of momentum, but still corresponds to healthy growth rates. Export orders weakened quite markedly as well, a first sign that the stronger Euro and global political uncertainty are dampening some of the Euro zone growth potential. Since the start of the year the Euro is up more than 2% against the Dollar and is expected to strengthen further making the bloc’s goods and services more expensive for foreign buyers. Zawya: According to the World Travel and Tourism Council (WTTC), the direct contribution of travel and tourism to the UAE economy is forecast to rise by 5% to AED 72.6 billion in 2018, and will hit AED 108.4 billion in 10 years, reflecting the vibrant growth potential the sector offers. In 2017, the sector had a direct contribution of 5.1% of the UAE total GDP at AED 69.1 billion, and is expected to account for 4.9% of the GDP by 2028, at an annual growth of 4.1%. On other hand, the total contribution, including wider effects from investment, the supply chain and induced income impacts, is expected to grow by 4.9% to AED 161.6 billion to account for 11.2% of GDP in 2018. It is forecast to surge by 3.8% per annum to AED 234.2 billion by 2028, contributing to 10.6% of GDP. In terms of job generation, the sector also plays a major role. In 2017, it directly supported 300,000 jobs, or 4.9% of total employment, which is expected to rise by 4.1% in 2018 and surge by 2.4% to 396,000 jobs or 5.6% of the total jobs in 2028. However, in 2017, the total contribution of the sector in employment generation was 9.5% or 585,500 jobs, expected to rise by 3.2% in 2018 to 604,500 jobs, rising by 1.8% per annum to 720,000 in 2028, accounting for 10.2% of the nation's total employment. US Government Bonds - Yield to Maturity (%) 4 3 2.632 1.932 1.723 1.715 2 3.067 2.971 10Y 30Y 2.287 2.274 2.039 2.090 1.927 2.832 2.744 2.565 1.675 1.621 1 0 1M 3M 6M 12M 2Y 5Y Last Week Current Week Global Equity Indexes - Rebased CBOE S&P Volatility Index - VIX 140 50 130 40 120 110 30 100 20 90 80 10 70 Oct-14 Dec-14Mar-15May-15 Jul-15 Sep-15Nov-15 Jan-16Mar-16May-16 Jul-16 Sep-16Nov-16 Jan-17Mar-17May-17 Jul-17 Sep-17Nov-17 Jan-18Mar-18 S&P 500 STOXX Europe 600 TR MENA MSCI Asia ex. Japan PE MENA Market - Price Ratios 16 4 5-Year CDS Rates (basis points) PB 600 14.4 12.4 10.8 12 8 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 0 60 12.3 11.4 7.6 1.0 7.6 1.3 1.8 2.7 - - 1.1 - 0.8 0.8 291.6 300 253.8 148.3 109.5 1.5 60.4 88.5 86.3 - 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 , April 01, 2018 Government Bonds Government Bond Name Currency Maturity Coupon Current Yield (%) YTM - Ask (%) Rating * Bid Ask 104.14 104.18 UAE - Emirate of Abu Dhabi ABU DHABI GOVT INT'L USD 08/04/2019 6.75 2.58 2.58 AA United States of America US TREASURY N/B USD 31/05/2020 1.50 2.33 2.33 AAA 98.27 98.28 United Kingdom of Great Britain UK TSY 4 3/4% 2020 GBP 07/03/2020 4.75 0.75 0.74 AAA 107.64 107.67 Kingdom of Bahrain KINGDOM OF BAHRAIN USD 31/03/2020 5.50 4.59 4.59 102.46 102.73 UAE - Emirate of Dubai DUBAI GOVT INT'L BONDS USD 05/10/2020 7.75 3.24 3.24 110.75 111.75 United States of America US TREASURY N/B USD 15/05/2025 2.13 2.70 2.70 AAA 96.31 96.34 State of Qatar STATE OF QATAR USD 15/06/2030 9.75 4.39 4.39 Aa3 150.18 151.18 Arab Republic of Egypt ARAB REPUBLIC OF EGYPT USD 30/04/2040 6.88 7.09 7.09 B 97.63 98.63 United States of America US TREASURY N/B USD 15/05/2045 3.00 2.97 2.97 AAA 100.63 100.66 Kingdom of Bahrain KINGDOM OF BAHRAIN USD 19/09/2044 6.00 7.72 7.72 BB- 80.75 81.00 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 2.59 2.59 A 101.51 101.52 Abu Dhabi Water & Electricity TAQA ABU DHABI NATL ENER USD 16/09/2019 6.25 3.21 3.21 A 104.27 104.35 Qatar Petroleum RAS LAFFAN LNG 3 USD 30/09/2019 6.75 3.27 3.27 A 105.01 105.08 National Bank of Oman NATIONAL BANK OF OMAN USD 07/10/2019 3.13 3.45 3.45 Baa3 99.52 99.59 Qatari Diar Real Estate Invest QATARI DIAR FINANCE QSC USD 21/07/2020 5.00 3.50 3.50 Aa3 103.29 104.04 Stichting Waha Aerospace WAHA AEROSPACE BV USD 28/07/2020 3.93 3.33 3.33 AA 100.75 101.50 Qatar Petroleum RAS LAFFAN LNG II USD 30/09/2020 5.30 3.51 3.51 A 102.58 102.66 Investment Corp of Dubai EMIRATES NBD PJSC EUR 23/03/2022 1.75 1.00 1.00 A+ 102.89 103.59 Saudi Electricity Co SAUDI ELECTRICITY GLOBAL USD 03/04/2022 4.21 3.56 3.55 A 102.43 103.18 Emaar Malls Group PJSC EMG SUKUK LTD USD 18/06/2024 4.56 4.17 4.17 Baa2 102.13 102.56 Emirate of Sharjah United Arab SHARJAH SUKUK LTD USD 17/09/2024 3.76 3.74 3.74 A3 100.11 100.39 Qatar Petroleum RAS LAFFAN LNG 3 USD 30/09/2027 5.84 4.26 4.26 A 109.12 109.43 Qatar Gas Transport Co Ltd NAKILAT INC USD 31/12/2033 6.07 4.55 4.55 A 112.07 112.50 Port & Free Zone World FZE DP WORLD LTD USD 02/07/2037 6.85 5.05 5.05 BBB+ 121.97 122.97 Burgan Bank SAK BURGAN TIER 1 FINANCING USD Perpetual 7.25 6.81 7.90 100.62 101.26 Emirates NBD PJSC EMIRATES NBD 2014 TIER 1 USD Perpetual 6.38 4.84 6.65 103.50 104.50 Data and News Source: Thomson Reuters * Thomson Reuters composite rating; NR = No Rating 3
4. Weekly Investment Report Sunday , April 01, 2018 Money Markets UAE EIBOR Deposit Rates Swap Rates 1 Week 1 Month 2 Months 3 Months 6 Months 12 Months 1.6902 1.9083 N/A 2.3325 2.6097 2.7912 T/N 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months 1.63 1.30 1.81 2.03 2.26 2.41 2.54 2.66 1 Year 2 Years 3 Years 4 Years 5 Years 7 Years 10 Years 2.49 2.69 2.89 3.02 3.13 3.32 3.59 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months 2.02 2.03 2.27 2.45 2.39 2.67 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 1.41 1.81 1.86 2.00 1.70 2.27 2.38 1 Year 2 Years 3 Years 4 Years 5 Years 7 Years 10 Years 2.56 2.83 2.99 3.13 3.24 3.42 3.66 O/N 1 Month 3 Months 6 Months 1 Year 2 Years 3 Years 0.75 1.75 2.00 2.19 2.50 2.39 2.25 O/N T/N 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months 1.87 2.57 0.12 0.12 1.25 1.40 2.03 2.25 2.36 1 Year 2 Years 3 Years 4 Years 5 Years 7 Years 10 Years 2.02 2.54 2.65 0.00 2.74 2.7600 2.8200 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 1.62 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 1.82 1.73 1.80 1.97 1.55 2.39 2.52 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 1.85 2.15 2.75 2.88 3.05 3.25 3.37 3.57 O/N Deposit 1W Deposit O/N Repo O/N Secured 1.65 1.95 3.75 3.75 Interest Rates Swap Rates 1 Year 2 Years 3 Years 4 Years 5 Years 7 Years 10 Years 3.20 3.42 3.55 3.59 3.61 3.59 3.65 Data and News Source: Thomson Reuters 4
5. Weekly Investment Report Sunday , April 01, 2018 Top Weekly Performers by Country (* indicates native currency; Data as of the previous Thursday) Close * WTD % YTD % Mkt. Cap. (AED mln) DUBAI REFRESHMENTS PJSC 12.80 -11.72% -11.72% 1,152 MARKA PJSC 0.47 -10.38% -15.43% 233 160 AL SAFWA MUBASHER FINANCIAL SER 0.66 -9.88% -27.00% 370 -19.12% 105 EMIRATES REFRESHMENTS PSC 2.97 -9.73% -26.67% 89 6.09% 21,600 DXB ENTERTAINMENTS PJSC 0.49 -7.60% -23.46% 3,888 WTD % YTD % Mkt. Cap. (AED mln) Top Losers Close * WTD % YTD % Mkt. Cap. (AED mln) 0.92 9.52% 13.58% 6,418 UNITED ARAB BANK PJSC 1.22 -15.28% -32.84% 2,516 NATIONAL BANK OF FUJAIRAH PJSC 2.99 7.14% -35.72% 4,392 RAK PROPERTIES PJSC 0.68 -12.82% -4.23% 1,360 ABU DHABI AVIATION 3.09 6.92% 1.31% 1,374 ABU DHABI ISLAMIC BANK PJSC 3.71 -9.29% -1.85% 11,753 ABU DHABI NATIONAL ENERGY CO 0.80 3.90% 45.45% 4,853 AL QUDRA HOLDING PJSC 1.18 -9.23% -8.53% 955 ARKAN BUILDING MATERIALS CO PJSC 0.68 3.03% 1.49% 1,190 NATIONAL TAKAFUL CO PJSC 0.48 -7.69% 4.35% 72 Top Gainers Close * WTD % YTD % Mkt. Cap. (SAR mln) Close * WTD % YTD % Mkt. Cap. (SAR mln) SAUDI STEEL PIPES CO SJSC 22.38 25.73% 39.01% 1,141 WAFRAH FOR INDUSTRY AND DEV 16.34 -15.95% -20.68% 327 SAUDI ARABIAN REFINERIES CO SJSC 41.05 11.85% 31.99% 616 AL KATHIRI HOLDING CO 21.20 -11.37% -3.64% 67 22.30 -8.91% 7.73% 1,561 Close * WTD % YTD % Mkt. Cap. (AED mln) NATIONAL CEMENT CO PSC 3.40 25.93% 17.24% 1,220 EMIRATES NBD BANK PJSC 10.75 4.37% 31.10% 59,746 DUBAI ISLAMIC INSURANCE & REINS 0.71 3.06% -11.39% DAR AL TAKAFUL PJSC 0.70 2.95% EMAAR DEVELOPMENT PJSC 5.40 1.89% Close * DANA GAS PJSC Dubai Top Gainers Saudi Abu Dhabi Top Gainers Kuwait Egypt Top Losers UNITED INTERNATIONAL TRANSPORT 37.90 9.86% 39.34% 2,697 AL ANDALUS PROPERTY CO SJSC AL ALAMIYA FOR COOPERATIVE INS 26.15 9.69% 8.06% 1,046 AL HASSAN GHAZI IBRAHIM SHAKER 10.48 -7.75% -10.43% 660 AXA COOPERATIVE INSURANCE CO 27.25 7.71% 37.63% 1,226 JARIR MARKETING CO SJSC 177.00 -7.14% 20.90% 15,930 Close (fils) * WTD % YTD % Mkt. Cap. (KWD mln) Top Losers Close (fils) * WTD % YTD % Mkt. Cap. (KWD mln) 1,372.00 52.44% 23.38% 552 AL MUDON INTERNATIONAL REAL EST 28.00 -27.65% -15.15% 3 AMAR FINANCE AND LEASING CO 49.00 38.03% -10.91% 10 SULTAN CENTER FOOD PRODUCTS CO 28.90 -24.54% -56.87% 17 KUWAIT TELECOMMUNICATIONS CO 950.00 24.51% 18.90% 474 KUWAIT CABLE VISION COMPANY 11.40 -24.00% -40.00% 0 AL AHLEIA INSURANCE CO SAKP 540.00 17.39% 16.13% 108 GULF FRANCHISING HOLDING CO KSCP 49.20 -23.13% -30.70% 2 KUWAIT REAL ESTATE HOLDING CO 26.50 15.22% -17.19% 5 BOUBYAN INTERNATIONAL INDUSTRY 25.00 -21.88% -32.25% 4 Top Gainers Close * WTD % YTD % Mkt. Cap. (EGP mln) Top Losers Close * WTD % YTD % Mkt. Cap. (EGP mln) BPE HOLDING FOR FINANCIAL INVEST 11.82 136.40% 136.40% 2.41 -20.46% -11.72% 11 MISR NATIONAL STEEL SAE 49.51 26.40% PALM HILLS DEVELOPMENTS CO 5.11 19.67% EGYPTIAN RESORTS CO SAE 2.41 NORTH UPPER EGYPT DEVELOPMENT Top Gainers Top Gainers Qatar Top Losers KUWAIT FOOD COMPANY KSCP 1,380 GENIAL TOURS CO SAE 162.51% 1,484 TRANS OCEANS TOURS SAE 0.07 -12.50% 16.67% 7 31.03% 11,785 PAINTS AND CHEMICAL INDUSTRIES 46.00 -11.42% 10.98% 1,103 18.72% 63.95% 2,528 EGYPT GAS CO SAE 90.35 -10.35% -16.44% 2,166 7.32 18.06% 42.41% 46 NAEEM HOLDING FOR INVESTMENTS 0.59 -9.23% 43.90% 184 Close * WTD % YTD % Mkt. Cap. (QAR mln) Top Losers Close * WTD % YTD % Mkt. Cap. (QAR mln) EZDAN HOLDING GROUP QSC 11.10 20.65% -8.11% 29,443 QATAR ISLAMIC INSURANCE CO QPSC 48.20 -16.87% -12.32% 723 QATAR INSURANCE CO SAQ 40.50 18.08% -10.45% 12,916 QATAR INTERNATIONAL ISLAMIC BNK 50.01 -13.10% -8.41% 7,573 GULF INTERNATIONAL SERVICES QSC 19.31 13.52% 9.10% 3,589 QATAR FIRST BANK LLC 6.38 -12.84% -2.30% 1,277 VODAFONE QATAR QSC 8.60 11.69% 7.23% 7,270 QATAR NAVIGATION QPSC 56.50 -7.54% 1.00% 6,473 QATAR CINEMA AND FILM DIST 25.18 11.12% 0.72% 158 QATAR INSURANCE CO SAQ 37.50 -7.41% -17.08% 11,964 Data and News Source: Thomson Reuters 5
6. Weekly Investment Report Sunday , April 01, 2018 Top 50 MENA Stocks by Market Capitalization (* indicates native currency; Latest data) Country Market Cap (USD mln) Close * MTD % YTD % 52w High * 52w Low * P/E P/B Dividend Yield 1 SAUDI BASIC INDUSTRIES CORPORATION SA 93,120 116.40 11.3% 14.3% 120.00 94.25 18.9 2.1 3.6% 2 SAUDI TELECOM COMPANY SJSC SA 44,213 82.90 9.1% 20.8% 85.00 65.10 16.4 2.7 4.8% 3 EMIRATES TELECOMMUNICATIONS GROUP AE 41,796 17.65 2.6% 0.9% 18.85 15.75 17.8 3.5 4.5% 4 NATIONAL COMMERCIAL BANK SJSC SA 34,720 65.10 11.5% 18.1% 65.30 37.00 13.3 2.1 2.6% 5 FIRST ABU DHABI BANK PJSC AE 34,717 11.70 1.3% 14.1% 12.00 10.05 13.0 1.2 6.0% 6 QATAR NATIONAL BANK QPSC QA 32,974 130.00 8.8% 3.2% 151.00 115.01 9.1 1.5 0.0% 7 AL RAJHI BANKING & INVESTMENT CORP SA 32,673 75.40 3.1% 16.7% 78.20 61.00 13.4 2.2 5.3% 8 SAUDI ELECTRICITY COMPANY SJSC SA 22,934 20.64 2.3% -2.0% 26.05 19.76 12.4 1.2 3.4% 9 DP WORLD LTD AE 18,675 22.50 -8.0% -10.0% 27.06 20.30 15.9 1.7 1.8% 10 INDUSTRIES QATAR QSC QA 17,461 105.10 1.7% 8.4% 115.00 85.00 19.2 1.9 4.8% 11 SAUDI ARABIAN MINING CO SJSC SA 17,044 54.70 7.3% 5.0% 57.10 39.50 89.4 2.4 0.0% 12 EMIRATES NBD BANK PJSC AE 16,268 10.75 21.5% 31.1% 11.00 7.95 7.7 1.0 3.7% 13 NATIONAL BANK OF KUWAIT SAKP KW 15,573 750.00 2.3% 8.2% 761.90 609.52 14.9 1.4 3.6% 14 ALMARAI CO SJSC SA 14,720 55.20 7.2% 2.6% 78.64 50.00 26.3 3.8 1.4% 15 SAMBA FINANCIAL GROUP SJSC SA 14,293 26.80 8.5% 13.9% 27.55 20.50 10.7 1.2 5.6% 16 EMIRATES ISLAMIC BANK PJSC AE 14,047 9.50 0.0% -3.1% 10.20 4.90 73.5 7.1 0.0% 17 JABAL OMAR DEVELOPMENT CO SJSC SA 12,541 50.60 -3.8% -14.4% 75.60 48.05 349.2 4.6 0.0% 18 SAUDI BRITISH BANK SJSC SA 12,540 31.35 10.8% 16.1% 32.50 21.25 11.9 1.4 4.5% 19 KUWAIT FINANCE HOUSE KSCP KW 11,426 593.00 0.7% 3.0% 650.00 467.00 18.3 1.8 2.9% 20 EMAAR PROPERTIES PJSC AE 11,307 5.80 -6.0% -11.3% 8.43 5.68 7.3 0.8 0.0% 21 RIYAD BANK SJSC SA 11,104 13.88 5.5% 10.3% 14.20 10.10 10.6 1.1 5.3% 22 YANBU NATIONAL PETROCHEMICALS CO SA 10,965 73.10 8.1% 23.9% 74.30 52.00 17.3 2.5 4.4% 23 BANQUE SAUDI FRANSI SJSC SA 9,434 29.35 0.9% 3.0% 33.40 25.20 10.0 1.1 4.8% 24 ABU DHABI COMMERCIAL BANK PJSC AE 9,342 6.60 -9.6% -2.9% 7.50 6.50 8.3 1.1 6.4% 25 ABU DHABI NATIONAL OIL CO FOR DIST AE 8,985 2.64 -1.9% -0.4% 2.90 2.50 18.3 11.6 2.2% 26 KINGDOM HOLDING CO SA 8,914 9.02 -1.2% 1.3% 11.30 7.90 52.8 1.1 5.5% 27 ALINMA BANK SJSC SA 8,248 20.62 4.0% 7.6% 20.92 14.00 15.3 1.5 3.9% 28 SAUDI ARABIA FERTILIZERS CO SJSC SA 7,856 70.70 7.1% 8.4% 73.10 57.00 33.5 4.3 2.5% 29 ARAB NATIONAL BANK SA 7,813 29.30 14.9% 18.3% 29.90 19.15 9.7 1.2 4.1% 30 EZDAN HOLDING GROUP QSC QA 7,648 10.50 15.4% -13.1% 16.30 6.19 16.4 0.9 0.0% 31 EMAAR MALLS PJSC AE 7,619 2.15 1.4% 0.9% 2.70 2.00 13.4 1.7 4.7% 32 MASRAF AL RAYAN QPSC QA 7,279 35.34 -6.0% 0.0% 45.40 33.32 13.1 2.0 0.0% 33 OOREDOO QSC QA 7,262 82.52 -5.1% -9.1% 108.50 78.00 13.4 1.1 4.2% 34 DUBAI ISLAMIC BANK PJSC AE 7,146 5.31 -12.4% -14.2% 6.63 5.25 6.8 1.0 8.5% 35 MOBILE TELECOMMUNICATIONS CO KW 6,941 480.00 0.4% 10.6% 570.00 407.00 12.1 1.4 7.3% Company Name Data and News Source: Thomson Reuters 6
7. Weekly Investment Report Sunday , April 01, 2018 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 QATAR ISLAMIC BANK QPSC QA 6,327 97.50 1.6% 0.5% 105.00 86.90 10.5 1.2 5.1% 37 SAVOLA GROUP COMPANY SJSC SA 6,294 44.20 19.8% 12.0% 51.00 35.15 23.4 2.7 2.3% 38 EMAAR DEVELOPMENT PJSC AE 5,881 5.40 2.1% 6.1% 5.93 5.00 0.0 2.6 0.0% 39 COMMERCIAL INTERNATIONAL BANK EG 5,876 89.01 15.3% 15.1% 92.10 72.00 14.5 3.6 1.1% 40 EMIRATES INTEGRATED TELECO AE 5,875 4.76 -4.8% -6.7% 6.20 4.73 12.6 2.7 7.4% 41 RABIGH REFINING AND PETROCHEMICAL SA 5,793 24.80 3.8% 50.7% 25.50 11.00 15.3 2.2 2.0% 42 QATAR ELECTRICITY AND WATER CO QSC QA 5,679 188.00 9.9% 5.6% 222.00 161.99 12.8 2.3 4.1% 43 SAUDI KAYAN PETROCHEMICAL CO SJSC SA 5,464 13.66 6.4% 27.7% 13.84 7.85 30.7 1.5 0.0% 44 AHLI UNITED BANK BSC BA 5,389 0.71 -2.7% 1.4% 0.76 0.62 9.2 1.2 6.0% 45 MESAIEED PETROCHEMICAL HOLDING CO QA 5,070 14.69 1.5% 16.7% 15.50 10.51 17.0 1.3 4.8% 46 DAMAC PROPERTIES DUBAI CO PSC AE 4,926 2.99 -0.3% -9.4% 4.57 2.48 0.0 1.3 0.0% 47 ALDAR PROPERTIES PJSC AE 4,560 2.13 -1.4% -3.2% 2.50 2.09 8.4 0.7 0.0% 48 JARIR MARKETING CO SJSC SA 4,248 177.00 4.1% 20.9% 193.00 125.00 18.4 9.8 4.9% 49 AGILITY PUBLIC WAREHOUSING CO KSCP KW 3,853 865.00 2.4% 7.9% 984.00 545.45 15.9 1.1 1.7% 50 ALAWWAL BANK SA 3,743 12.28 -0.2% 4.1% 13.24 10.25 10.5 1.0 2.0% Company Name Total MCap; Weighted Avg Div Yield 718,577 3.4% Data and News Source: Thomson Reuters Disclaimer: This report is prepared by Al Masah Capital Limited (“AMCL”). AMCL is a company incorporated in the Cayman Islands as an Exempt Company established under the laws of the Cayman Monetary Authority.The information contained in this report does not constitute any offer to sell securities or the solicitation of any offer to buy, or recommendation for investment in, any securities in any jurisdiction. The information in this report is not intended as financial advice and is only intended to be used by experienced investment persons with appropriate investment knowledge and ones that AMCL is satisfied meet the regulatory criteria to be classified as a ‘Professional Client’ as defined under the Rules & Regulations of the appropriate financial authority. More-over, none of the report is intended as a prospectus within the meaning of the applicable laws of any jurisdiction and none of the report is directed to any person in any country in which the distribution of such report is unla wful. This report provides general information only. The information and opinions in the report constitute a judgment as at the date indicated and are subject to change without notice. The information may therefore not be accurate or current. The information and opinions contained in this report have been compiled or arrived at from sources believed to be reliable in good faith, but no representation or warranty, express, or implied, is made by AMCL, as to their accuracy, completeness or correctness and AMCL does also not warrant that the information is up to date. Any reference to third party research material or any other report contained in this report represents the respective research organization's estimates and views and does not represent the views of AMCL and its officers and employees do not accept any liability or responsibility whatsoever with respect to its accuracy or correctness and AMCL has included such reports or made reference to such reports in good faith. This report may also provide the addresses of, or contain hyperlinks to websites. Except to the extent to which the report refers, AMCL takes no responsibility whatsoever for the contents therein. Such addresses or hyperlinks are provided solely for your convenience and information and the content of the linked site does not in any way form part of this report. Accessing such website or following such link through this report shall be at your own risk. Moreover, you should be aware of the fact that investments in un dertakings, securities or other financial instruments involve general and specific risks. Past results do not guarantee future performance. AMCL does not accept any liability for any loss arising from the use of material presented in this report. AMCL may seek to do business, or may already have had some business dealings, with companies covered in this report. As a result, investors should be aware that AMCL may be considered as having a conflict of interest that could affect the objectivity of research produced. Investors should consider any AMCL research as only a single factor in making any investment decision. This document has not been reviewed by, approved by or filed with the CIMA. This report or any portion hereof may not be reprinted, sold or redistributed without our prior written consent of the Company. Copyright © 2015 Al Masah Capital Limited 7