MENA Weekly Market Wrap - 12 April

Transcription

1. Research @Markaz.com Weekly Wrap Equity Watch Indicators 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 M.Cap (USD Bn) Saudi Arabia Saudi Aramco 1,705 64 SABIC Saudi Telecom 49 37 Al-Rajhi Bank NCB 29 United Arab Emirates 36 ETISALAT 36 FAB 14 Emirates NBD 13 DP World 9 AD Comm Bank Kuwait 15 NBK 14 KFH 6 Zain 5 Boubyan Bank 3 Agility Qatar 48 Qatar National Bank Industries Qatar 12 10 Qatar Islamic Bank 8 Masraf Al Rayan Mesaieed Petro. 7 April 12, 2020 Value Traded & Advances/Decline Ratio M. Cap Close (USD Bn) Price WTD % MTD % YTD 3-Yr 5-Yr P/E % CAGR CAGR TTM 354 2,148 128 120 85 85 55 21 11 93 7,006 8,990 4,114 4,596 5,431 1,830 1,300 3,472 4.3 3.8 6.3 9.5 -2.2 -2.0 6.2 -2.2 2.6 6.9 7.7 9.5 10.1 -4.7 -4.0 3.3 -3.7 0.7 -19.7 -16.5 -13.8 -19.0 -26.8 -25.1 -33.8 -19.2 -12.8 -2.2 -4.7 -0.3 -4.8 -4.9 -5.3 -3.1 -2.2 -2.9 0.4 -19.5 -13.7 -1.4 -1.9 -14.6 -11.1 15 16 13 10 11 11 4 10 7 44,346 24,387 1,954 5,041 1,972 2,790 5,843 1,430 11.0 12.1 7.9 7.9 6.4 7.9 3.0 1.9 -16.4 2.5 -13.6 6.2 -22.5 -7.3 -16.9 -0.9 2.1 5.9 -3.8 -2.1 20 20 14 13 5,932 4,612 783 888 2,931 31,160 6.8 1.2 12.9 4.7 1.7 5.7 -20.3 -2.7 -8.3 -5.1 -24.5 1.9 -3.0 -7.5 1.4 14 12 17 YTD % 3-Yr CAGR 5-Yr CAGR P/E TTM 32 80 93 55 37 1.3 4.7 3.3 1.5 4.9 6.3 13.7 5.9 2.8 5.8 -9.1 -15.2 -8.9 -15.4 -25.5 -7.2 10.1 8.8 13.0 -1.1 8.4 8.2 -2.7 19 43 17 14 10 12 15 8 16 3 21.1 7.2 21.7 0.6 -1.4 25.4 7.7 16.2 3.9 3.3 -20.2 -7.7 -35.4 19.1 -5.7 4.3 -5.9 2.5 -10.2 - 0.5 6.2 -2.3 -7.9 - 11 15 3 11 16 680 607 458 470 559 -2.9 -1.9 -1.9 -2.5 -3.3 -5.6 -4.0 -11.2 -3.4 -1.8 -33.3 -25.2 -23.7 -23.0 -31.7 5.0 11.5 -0.9 11.2 8.3 1.1 5.5 -1.1 7.9 2.9 12 17 9 24 11 19 7 16 4 2 5.6 4.4 4.4 2.9 24.1 13.1 9.2 7.9 4.3 40.3 -7.7 -29.4 1.1 -3.6 -18.4 8.3 -13.3 15.0 -3.5 11.3 5.7 -12.3 8.9 -4.5 -4.9 12 17 13 13 22 Qatar UAE Qatar KSA UAE 171 28 7 1,436 164 31 88 45 153 UAE 107 132 40 37 55 130 Qatar 77 46 44 2 - 65 Bahrain 1 44 19 9 16 3 Oman 2 121 17 20 84 11 Total 1,676 713 322 184 207 1,797 US Treasuries (In %) KIBOR Yield Curve (%) 5-year CDS Spread Country 2019 154.0 128.7 307.1 84.0 131.4 402.5 488.2 - 58.5 34.8 91.0 44.9 36.8 266.0 167.1 3,065.7 Deposit Rate 3M Rate % U.S. 0.9 Kuwait 1.2 KSA** 1.8 UAE 1.0 Qatar 0.8 Oman 2.3 Bahrain 1.1 Euro Region -0.4 Last FOMC Meeting Date: Mar 15 WTD % 31.5% 24.4% 24.1% 22.0% 21.7% MTD % 30.5% 10.6% 40.3% 39.1% 16.2% YTD % -12.3% -32.8% -18.4% -31.3% -35.4% WTD % MTD % YTD % Precious Metals -13.5% -9.8% -8.8% -6.7% -5.4% -16.5% -11.7% -8.5% -5.7% -7.2% -38.2% -38.1% -23.2% -15.3% -36.3% 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 Spread % 0.3 0.9 0.1 -0.1 1.4 0.2 -1.3 Commodity Watch Companies Country Abu Dhabi Islamic Bank Mabanee Company National Bank of Ras Al Khaimah National Shipping Company of Saudi Arabia Gulf Bank UAE Kuwait UAE KSA Kuwait 3.3 1.9 1.7 3.6 1.9 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 ➢ Economies in the Middle East and North Africa will face $116 billion (Dh425.7 billion) in costs from the impact of coronavirus and the drop in oil prices in 2020. –Reuters ➢ Efforts to conclude the OPEC+ deal hit the buffers when Mexico insisted it would only cut its output by a quarter of the amount demanded by OPEC+. – Reuters High Low 232.4 155.0 324.6 84.0 181.0 637.0 501.6 13,893.4 58.5 34.6 90.6 30.4 36.5 199.0 158.5 769.0 Interest Rate Watch Top 5 Losers*  M. Cap (USD Bn) 52-Week Current KSA Abu-Dhabi Dubai Kuwait Qatar Oman Bahrain Lebanon Top 5 Gainers*  Qatar Aluminum Manufacturing Co. Network International Holdings Mesaieed Petrochemical Holding Co Rabigh Refining and Petrochemical Co. Emirates NBD Bank 206 202 LIBOR (In %) MTD % M. Cap (USD Bn) 1.1 2.7 7.1 3.5 14.4 1,288 Kuwait Yield Curve & CDS Watch WTD % Country Value Traded Listed ADTV – 1M Advances Declines Unchanged (USD mn) companies (USD mn) Saudi Arabia Close Price Companies Companies 5YR Rate 10YR Rate 0.4 0.7 2.0 2.6 2.8 3.5 2.2 2.7 3.3 3.2 11.0 10.6 4.4 7.9 -0.6 -0.3 Next FOMC Mt Date: Apr 28/29 52-Week Close Price 1,688.9 15.3 31.5 6,883.2 WTD % 4.5 6.5 -7.7 2.1 MTD % 7.5 9.7 38.4 7.2 YTD % 11.3 -14.1 -52.3 -4.0 High Low 1,688.9 19.6 74.5 12,921 1,270.3 12.0 22.7 4,841.7 1.1 108.5 0.3 7.0 43.4 1.2 0.0 0.0 -0.8 -7.4 -0.9 0.9 -0.9 -0.7 -19.0 -2.5 -0.1 2.6 1.0 214.6 1.1 112.2 0.3 7.2 82.7 1.1 102.3 0.3 6.7 11.5 ➢ The IMF and the World Bank are providing emergency funds to developing and lowincome countries across the world to strengthen their efforts to battle the rapidly spreading coronavirus. – Reuters ➢ 16.8 million people filed for U.S. unemployment benefits in the last three weeks as the country shut down to stop the spread of the novel coronavirus. – 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 “. This Report is intended to be circulated for general information only and should not to be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any financial instruments or to participate in any particular trading strategy in any jurisdiction. The information and statistical data herein have been obtained from sources we believe to be reliable but in no way are warranted by us as to its accuracy or completeness. Markaz has no obligation to update, modify or amend this report. For further information, please contact ‘Markaz’ at P.O. Box 23444, Safat 13095, Kuwait. Tel: 00965 1804800 Fax: 00965 22450647. Email: research@markaz.com