Saudi Arabia Daily Market Report - 28 December

Transcription

1. Daily Market Report Saudi Arabia Stock Exchange 28 December 2016 TASI Index Turnover (SAR mn) 7,257.2 5,965.8 Global commentary TASI Intra Day Movement Intraday Previous Close 10:00 10:15 10:30 10:45 11:00 11:15 11:30 11:45 12:00 12:15 12:30 12:45 13:00 13:15 13:30 13:45 14:00 14:15 14:30 14:45 7,280 7,260 7,240 7,220 7,200 7,180 7,160 7,140 7,120 7,100 Research Department research@alrajhi-capital.com Tel:+966 11 211 9370 1.27% 29%  US stock markets gained on Tuesday, but witnessed lower volumes amid Christmas holidays. Further, the better-than-expected economic data also supported the indices. The Nasdaq Composite Index advanced 0.5% logging its record high, while the S&P 500 rose 0.2%, led by materials sector. Further, the Dow Jones edged up 0.1%.  European markets rose on Tuesday although trading remained thin. The DAX gained 0.2%, driven by media, consumer & cyclical and technology sectors, while the CAC 40, too, added 0.2%, led by Veolia Environnement and Danone. However, the FTSE 100 was closed on account of a holiday.  Most GCC markets advanced yesterday. Oman and Kuwait gained 0.6% and 0.5%, respectively, while Abu Dhabi rose 0.3%, led by telecom and banking stocks. Further, Bahrain, too, added 0.3%. However, Qatar dropped 0.4%, dragged down by telecom shares, while Dubai fell 0.3%.  Asian markets are trading on a mixed note this morning. The KOSPI is trading down 0.7%, owing to a political turmoil in South Korea, while the Shanghai Composite Index is down 0.3%. However, the Nikkei 225 and the Hang Seng Index are trading on a flat note.  Brent crude jumped 1.7% on Tuesday, as the Saudi energy minister stated that the OPEC members have formed a committee to ensure that the oil producers comply with the agreed output cuts. Key crude contracts Brent and WTI ended at US$ 56.09 (+1.7%) and US$ 53.90 (+1.7%), respectively. TASI – Activity Trend (Last 10 Days) Thousands Turnover (LHS, SAR bn) TASI Index (RHS) 8 9,000 8,500 8,000 7,500 7,000 6,500 6,000 5,500 5,000 6 4 2 27-Dec 26-Dec 25-Dec 22-Dec 21-Dec 20-Dec 19-Dec 18-Dec 15-Dec 14-Dec - Regional Indices WTD% 2.4 -1.2 1.2 0.7 0.7 0.4 1.0 1.4 YTD% 5.0 -1.2 2.3 3.8 12.4 6.6 -0.4 5.3 Major Com m odities / Currencies Close 1D % WTD % Gold Spot $/Oz 1,142 0.3 0.7 Silver Spot $/Oz 16.02 0.3 1.7 Crude Oil (Brent) 55.92 -0.3 1.4 OPEC Basket 52.25 0.5 1.9 Euro 1.05 0.1 0.1 USD Index 102.98 0.0 0.0 JPY 117.680 -0.2 -0.3 YTD % 7.6 15.6 22.9 67.1 -3.6 4.4 2.1 Major Global Indices Close DJ Industrial 19,945 S&P 500 2,269 Nikkei 225 19,427 Hang seng 21,568 FTSE 100 7,068 CAC 40 4,848 MSCI World 1,761 MSCI EM 845 YTD % 14.5 11.0 2.1 -1.6 13.2 4.6 5.9 6.4 KSA (TASI) Qatar (DSM) Kuw ait (KSE) Abu Dhabi (ADSM) Dubai (DFM) Oman (MSM30) Bahrain (BSE) MSCI GCC Close 7,257 10,305 5,745 4,469 3,542 5,761 1,211 478 1D% 1.3 -0.4 0.5 0.3 -0.3 0.6 0.3 0.8 1D % WTD % 0.1 0.1 0.2 0.2 0.1 0.0 0.0 0.0 0.1 0.0 0.2 0.2 0.1 0.1 0.3 0.4 Saudi commentary  Tadawul All Share Index (TASI) gained 90.81 points or 1.27 % to close at 7,257.17. All of the sixteen sector indices closed lower. The advance decline ratio was 156/12. Trading turnover was around SAR 6 bn.  Tadawul to launch parallel market 26 February: The Saudi stock Exchange (Tadawul) plans to launch Nomu - Parallel Market on 26 February, 2017, after the Capital Market Authority (CMA) issued the listing rules last Thursday. (Mubasher)  SABB board recommends dividends at SAR0.35/shr: The board of the Saudi British Bank (SABB) recommended on Tuesday the distribution of cash dividends to shareholders for the second half of the year at SAR 0.35 per share or 3.5% of capital. (Mubasher)  Talks ongoing between STC, Mobily on towers sale: Saudi Telecom Company (STC) is still in talks with Etihad Etisalat Co. (Mobily) to explore options on their telecom towers in the kingdom, Amjad Shacker, the company’s GM of corporate communication. (Argaam)  Solidarity submits capital cut request to SAMA: Solidarity Saudi Takaful Co. (Solidarity) on Monday submitted its application to reduce capital to the Saudi Arabian Monetary Authority (SAMA). (Argaam) Interest Rates 1M 3M 12M 3M Chg 1Y LIBOR (USD) 0.76 1.00 1.69 0.39 SAIBOR 1.81 2.04 2.43 0.53 EIBOR 0.96 1.44 2.11 0.39 Data Sources: Bloomberg Updated as of 28/Dec/2016 8:02 AM Please see penultimate page for additional important disclosures. Al Rajhi Capital (Al Rajhi) is a foreign broker-dealer unregistered in the USA. Al Rajhi research is prepared by research analysts who are not registered in the USA. Al Rajhi research is distributed in the USA pursuant to Rule 15a-6 of the Securities Exchange Act of 1934 solely by Rosenblatt Securities, an SEC registered and FINRA-member broker-dealer. 1
2. Daily Market Report Saudi Arabia Stock Exchange TASI – Large Cap (>10% Index weight) Sectors’ Performance TASI – Top Gainers / Losers 1D % (LHS) 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 MTD % (LHS) YTD % (RHS) 30.0 25.0 20.0 15.0 10.0 5.0 0.0 -5.0 TASI Petrochem Banks Telecom TASI – Mid Cap (5 -10% index weight) Sectors’ Performance 1D % (LHS) MTD % (LHS) 25.0 6.0 20.0 5.0 15.0 4.0 10.0 3.0 5.0 2.0 0.0 1.0 -5.0 0.0 -10.0 Real Estate 1D % (LHS) MTD % (LHS) YTD % (RHS) 20 15 10 5 50.0 40.0 30.0 20.0 10.0 0.0 -10.0 -20.0 -30.0 -40.0 -50.0 Media Hotels Multi invt Transport Energy Retail Building Industries Cement 0 Vol (mn) Value Trd (SAR mn) 6.847 113.28 5.518 185.06 1.459 20.27 1.732 40.76 9.383 70.22 Company Wala'a Insurance Arabian Shield United Co-Operat Amana Coop Ins Sadafco Last Price 22.5 41.3 13.0 8.5 124.8 Chg % -2.6 -2.3 -1.0 -0.4 -0.2 Vol (mn) Value Trd (SAR mn) 1.320 30.25 3.183 132.99 1.018 13.28 1.676 14.19 0.010 1.23 TASI – Top Index Movers / Losers (Heavy weight stocks) Company Samba NCB Sabic Riyad Bank Alaw al Last Price 24.99 42.97 93.11 11.72 14.02 Chg % 5.0 2.0 0.9 2.5 8.3 Index Imp Value Trd (SAR mn) 12.3 1.58 6.0 1.46 5.2 3.56 4.6 1.71 3.4 1.46 Company Wala'a Insurance Arabian Shield Mobily Arabian Cement United Co-Operat Last Price 22.51 41.28 24.50 45.49 12.97 Chg % -2.6 -2.3 -0.1 -0.1 -1.0 Index Imp Value Trd (SAR mn) -0.2 30.25 -0.1 132.99 -0.1 39.14 -0.1 35.95 0.0 13.28 Chg % 3.4 1.5 5.4 1.2 1.8 2.0 4.6 10.0 10.0 0.0 Vol (mn) Value Trd (SAR mn) 73.700 443.27 47.277 719.68 9.383 70.22 9.380 84.36 8.846 199.83 8.735 73.40 7.343 109.97 6.847 113.28 5.518 185.06 5.447 46.24 Last Price 52Wk High 15.23 15.23 19.39 19.39 18.56 18.60 33.30 33.40 24.99 25.10 % Diff 0.0% 0.0% 0.2% 0.3% 0.4% TASI – Volume Leaders Company Dar Al Arkan Alinma Bk Methanol Chemicals Saudi Kayan Saudi Elec ME Spec Cables Saptco Sasco Tihama Zain Saudi Last Price 6.08 15.19 7.60 9.00 23.00 8.33 15.20 16.85 34.09 8.45 TASI - Stocks Closer to 52 Week Low TASI – Stocks Closer to 52 Week High Company Sanad Coop Ins Weqaya For Takaf Sipchem National Gas & Ind Samba Chg % 10.0 10.0 8.3 7.0 5.4 Agri TASI – Small Cap (<5% index weight) Sectors’ Performance 25 Last Price 16.85 34.09 14.02 24.07 7.60 YTD % (RHS) 7.0 Insurance Company Sasco Tihama Alaw al Buruj Coop Ins Methanol Chemicals Value Trd (SAR mn) 0.000 0.000 12.898 11.201 39.331 Company Sanad Coop Ins Weqaya For Takaf Etihad Atheeb Malath Insurance Tabuk Cement Last Price 52Wk Low 15.23 15.23 19.39 19.39 2.98 2.80 8.70 7.10 12.75 10.25 % Diff 0.0% 0.0% 6.4% 22.5% 24.4% Value Trd (SAR mn) 0.000 0.000 1.303 36.440 1.675 Data Sources: Al Rajhi Capital, Bloomberg Disclosures Please refer to the important disclosures at the back of this report. 2
3. Daily Market Report Saudi Arabia Stock Exchange Performance of Regional markets Last Index Change (%) Close 1D 1M YTD Saudi Arabia 7,257 1.3 3.7 5.0 Qatar 10,305 -0.4 5.2 -1.2 Dubai 3,542 -0.3 5.4 12.4 Abu Dhabi 4,469 0.3 3.7 3.8 Kuw ait 5,745 0.5 3.4 2.3 Oman 5,761 0.6 5.0 6.6 Bahrain 1,211 0.3 3.2 -0.4 Data Sources: Al Rajhi Capital, Bloomberg MCap US$ bn 451 131 83 118 86 17 19 Country ADSMI Index (RHS) 0.5 P/E (x) 12M 17.2 14.9 11.6 11.5 19.5 10.9 9.9 YTD % (RHS) 40.0 30.0 5.0 25.0 20.0 15.0 Services Telcom Transport Insurance Investment 0.0 10.0 5.0 0.0 Abu Dhabi – Sector Performances 1D % (LHS) MTD % (LHS) YTD % (RHS) 14.0 10.0 8.0 4,500 6.0 4.0 2.0 Consumer Insurance Services Industrial Fin.Services Banks Telecome Energy ADSM 25.0 20.0 15.0 10.0 5.0 0.0 -5.0 -10.0 -15.0 -20.0 Kuwait – Sector Performances 1D % (LHS) 3.0 MTD % (LHS) YTD % (RHS) 25.0 Oil&Gas Healthcare Insurance Basic material Consumer Telecom -1.5 Services -1.0 Parallel -5.0 Fin. Services 0.0 Bank 0.0 Real estate 5.0 0.5 Industrial 10.0 1.0 Investment 15.0 1.5 KSE 20.0 2.0 -0.5 P/B (x) Current 1.7 1.6 1.3 1.4 1.0 1.1 0.4 Div Yld 12M (%) 3.2 3.9 3.9 5.5 4.2 5.0 4.6 Company Takaful House Mashreq Bk Islamic Arab Ins Dubai Islamic Ins Gulf Navigation Last Price Change % 1.04 12.6 65.00 7.2 0.50 5.0 0.57 5.0 1.59 0.6 Vol (mn) 17.34 0.01 69.10 2.63 1.78 Company Union Properties DFM Ajman Bank DXB Entertainments Shuaa Capital Last Price Change % 1.15 -1.7 1.26 -1.6 1.32 -1.5 0.45 -1.5 1.47 -1.3 Vol (mn) 32.63 2.67 1.72 20.22 1.70 Company Last Price Change % Al Wathba Natl Ins 6.00 13.0 Abu Dhabi Nat Hotels 3.20 10.3 Intl Fish Farming 1.93 3.2 Investbank 2.25 2.3 Methaq Takaful 0.93 2.2 Vol (mn) 0.527 0.170 9.104 2.450 6.748 Company Green Crescent Ins Arkan Building Mat Abu Dhabi Aviati Eshraq Propertie Agthia Group Vol (mn) 0.062 0.084 1.400 8.540 0.123 Last Price Change % 0.60 -4.8 0.85 -3.4 3.00 -3.2 1.00 -2.9 6.80 -2.2 Kuwait – Top Gainers / Losers 2.5 Technology 5,460 5,440 5,420 5,400 5,380 5,360 5,340 5,320 5,300 5,280 6-Nov 3-Nov 2-Nov 1-Nov 31-Oct 30-Oct 26-Oct 25-Oct 27-Oct Turnover (LHS, KWD mn) KWSEIDX Index (RHS) 40 35 30 25 20 15 10 5 0 24-Oct Thousands Kuwait – Activity Trend (Last 10 Days) Real Estate 27-Dec 26-Dec 25-Dec 22-Dec 21-Dec 20-Dec 19-Dec 18-Dec 15-Dec 14-Dec 4,000 0.0 -2.0 -4.0 P/E (x) 2017E 14.4 -4.0 1.0 6.3 8.5 -8.2 NA Abu Dhabi – Top Gainers / Losers 5,000 12.0 0.0 P/E (x) 2016E 15.6 13.9 11.7 11.9 NA 9.4 NA Dubai – Top Gainers / Losers 35.0 -5.0 Abu Dhabi – Activity Trend (Last 10 Days) Turnover (LHS, AED bn) MTD % (LHS) Reality 21-Dec 20-Dec 19-Dec 18-Dec 15-Dec 14-Dec 0.0 1D % (LHS) 10.0 Bank 0.4 27-Dec 0.8 26-Dec 1.2 25-Dec DFMGI Index (RHS) 3,600 3,580 3,560 3,540 3,520 3,500 3,480 3,460 22-Dec Turnover (LHS, AED bn) Turnover US$ mn 1,590 35 79 25 63 7 2 Dubai – Sector Performances DFM Dubai – Activity Trend (Last 10 Days) Volume mn shr 322 4.9 299 46 207 11 7.5 -10.0 -15.0 Company Last Price Change % GFH 116 9.4 Hets telecom 39.5 6.8 City finance 44.5 6.0 Human Soft 1780 6.0 Al Salam Group Hldg 45.5 5.8 Vol (mn) 2.431 3.600 1.380 0.055 11.872 Company Hilal Cement Co Housing Finance Kuw ait Fin & Invest Ifa Hotels & Res Al-Mazaya Hldg Vol (mn) 0.004 3.627 0.044 0.000 2.566 Last Price Change % 118 -7.8 48.5 -6.7 33 -5.7 160 -4.8 110 -3.5 -20.0 Data Sources: Al Rajhi Capital, Bloomberg Disclosures Please refer to the important disclosures at the back of this report. 3
4. Daily Market Report Saudi Arabia Stock Exchange 10 .0 8.0 6.0 4.0 MSM 30 Bank Industry Services 2.0 0.0 Bahrain – Sector Performances Last Price Change % 0.227 3.2 0.107 1.9 0.115 1.8 0.640 1.3 0.164 0.6 Vol (mn) 0.055 0.158 0.171 0.211 0.830 Company Sembcorp Bank Nizw a Bank Muscat NA NA Last Price Change % 0.235 -4.1 0.078 -1.3 0.410 -1.0 NA NA NA NA Vol (mn) 0.078 2.459 0.325 NA NA 1D % (LHS) MTD % (LHS) Bahrain – Top Gainers / Losers YTD % (RHS) Services 2.5 2.0 1.5 1.0 0.5 0.0 -0.5 -1.0 -1.5 -2.0 Company NBO Gulf Invest Svcs Al Sharqiya Inv Ooredoo Al Anw ar Holding -2.0 6-Nov 3-Nov 2-Nov 1-Nov 31-Oct 30-Oct 27-Oct 26-Oct 25-Oct 1,152 1,150 1,148 1,146 1,144 1,142 1,140 1,138 Oman – Top Gainers / Losers YTD % (RHS) Industries BHSEASI Index (RHS) 9.0 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 24-Oct Thousands Turnover (LHS, BHD mn) MTD % (LHS) Insurance Bahrain – Activity Trend (Last 10 Days) 1D % (LHS) Hotel & T ourism 1-Nov 31-Oct 30-Oct 27-Oct 26-Oct 25-Oct 24-Oct 0 0.6 0.5 0.4 0.3 0.2 0.1 0.0 -0.1 -0.2 -0.3 -0.4 -0.5 Banks 4 6-Nov 8 3-Nov MSM30 Index (RHS) 5,540 5,520 5,500 5,480 5,460 5,440 5,420 2-Nov Turnover (LHS, OMR mn) Oman – Sector Performances BSE Oman – Activity Trend (Last 10 Days) 0.0 -2.0 -4.0 -6.0 -8.0 -10.0 -12.0 -14.0 -16.0 -18.0 Company NBB Ahli United Bk BMMI NA NA Last Price Change % 0.705 2.2 0.635 0.8 0.835 0.6 NA NA NA NA Vol (mn) 0.002 0.300 0.025 NA NA Company Bahrain Islamic Bk Khaleeji Com Bk Albaraka Banking Nass Corp NA Last Price Change % 0.108 -6.1 0.055 -3.5 0.470 -2.1 0.105 -0.9 NA NA Vol (mn) 0.153 0.170 0.081 0.100 NA Data Sources: Al Rajhi Capital, Bloomberg Disclosures Please refer to the important disclosures at the back of this report. 4
5. Daily Market Report Saudi Arabia Stock Exchange IMPORTANT DISCLOSURES FOR U .S. PERSONS This research report was prepared by Al Rajhi Capital (Al Rajhi), a company authorized to engage in securities activities in Saudi Arabia. Al Rajhi is not a registered broker-dealer in the United States and, therefore, is not subject to U.S. rules regarding the preparation of research reports and the independence of research analysts. This research report is provided for distribution to “major U.S. institutional investors” in reliance on the exemption from registration provided by Rule 15a-6 of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”). 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