Saudi Arabia Daily Market Report - 4 December

Transcription

1. Daily Market Report Saudi Arabia Stock Exchange 04 December 2016 TASI Index Turnover (SAR mn) 7,093.7 6,728.6 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 7,140 7,120 7,100 7,080 7,060 7,040 7,020 7,000 6,980 6,960 6,940 Research Department research@alrajhi-capital.com Tel:+966 11 211 9370 1.34% -5%  US stock markets declined over the past week, as investors were watchful ahead of the Italian referendum to amend its constitution. The Nasdaq Composite Index dropped 2.7%, led by biotechnology stocks, while the S&P 500 fell 1.0%. However, the Dow Jones edged up 0.1%. Meanwhile, the country posted stronger-than-expected economic data over the week.  European markets dropped last week, owing to uncertainty regarding the outcome of the Italian referendum. The DAX declined 1.7%, while the FTSE 100 shed 1.6%, dragged down by energy stocks. Further, the CAC 40 lost 0.5%.  Most of the GCC markets advanced over the previous week. Qatar and Oman jumped 2.0% and 1.2%, respectively, while Dubai and Kuwait rose 1.1% and 0.9%, respectively. Further, Abu Dhabi added 0.8%. However, Bahrain declined 0.7%.  Most of the Asian markets fell last week. The Hang Seng Index and the Shanghai Composite Index declined 0.7% and 0.6%, respectively, while the KOSPI dropped 0.2%. However, the Nikkei 225 advanced 0.2%.  Brent crude gained 1.0% on Friday, as the rally post OPEC deal continued. Further, the US Senate’s legislation to extend sanctions against Iran also lifted the oil prices. The key crude contracts Brent and WTI ended at US$54.46 (+1.0%) and US$51.68 (+1.2%), respectively. TASI – Activity Trend (Last 10 Days) TASI Index (RHS) 1-Dec 30-Nov 29-Nov 28-Nov 27-Nov 24-Nov 23-Nov 22-Nov 9,000 8,500 8,000 7,500 7,000 6,500 6,000 5,500 5,000 21-Nov 12 10 8 6 4 2 20-Nov Thousands Turnover (LHS, SAR bn) Regional Indices WTD% 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 YTD% 2.6 -4.9 -0.8 0.0 6.7 3.4 -3.1 2.7 Major Com m odities / Currencies Close 1D % WTD % Gold Spot $/Oz 1,177 0.5 -0.6 Silver Spot $/Oz 16.74 1.3 1.3 Crude Oil (Brent) 54.46 1.0 0.0 OPEC Basket 49.35 10.2 10.0 Euro 1.07 0.4 0.7 USD Index 100.77 -0.3 0.0 JPY 113.510 0.9 -0.3 YTD % 10.9 20.8 19.7 57.8 -1.9 2.2 5.9 Major Global Indices Close DJ Industrial 19,170 S&P 500 2,192 Nikkei 225 18,426 Hang seng 22,565 FTSE 100 6,731 CAC 40 4,529 MSCI World 1,709 MSCI EM 853 YTD % 10.0 7.2 -3.2 3.0 7.8 -2.3 2.8 7.4 KSA (TASI) Qatar (DSM) Kuw ait (KSE) Abu Dhabi (ADSM) Dubai (DFM) Oman (MSM30) Bahrain (BSE) MSCI GCC Close 7,094 9,914 5,569 4,309 3,361 5,590 1,178 466 1D% 1.3 1.2 0.3 1.1 0.8 1.9 0.3 0.0 1D % WTD % -0.1 0.0 0.0 0.0 -0.5 0.0 -1.4 0.0 -0.3 0.0 -0.7 0.0 0.0 0.0 -0.6 0.0 Saudi commentary  Tadawul All Share Index (TASI) gained 93.48 points or 1.34% to close at 7,093.66. Fourteen of the fifteen sector indices closed higher. The advance decline ratio was 144/21. Trading turnover was around SAR 6.7bn.  Tadawul to reclassify sectors under GICS by early 2017: The Saudi Stock Exchange (Tadawul) is planning to reclassify its current market sectors to match global standards by adopting the Global Industry Classification Standard (GICS) by January 2017. (Argaam)  SAMA confirms that its systems have not been hacked: Saudi Arabian Monetary Agency (SAMA), the Saudi central bank, denied media reports that its information systems were hacked by cyber attacks. (SAMA)  SAMA issues new regulations for auto insurance claims: Saudi Arabian Monetary Agency (SAMA), which oversees the kingdom’s insurance market, has ordered insurers to settle thirdparty motor claims of maximum SAR 2,000 within five working days from the date they are received. (Argaam) Interest Rates 1M 3M 12M 3M Chg 1Y LIBOR (USD) 0.65 0.95 1.64 0.51 SAIBOR 1.85 2.07 2.47 0.92 EIBOR 0.77 1.41 2.10 0.46 Data Sources: Bloomberg Updated as of 04/Dec/2016 7:54 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) Company Safco Thimar Lazurde SIIG Al Hokair Last Price 80.14 34.19 21.51 18.33 37.12 Chg % 8.2 ` 7.1 6.6 6.3 Vol (mn) Value Trd (SAR mn) 1.102 88.60 2.526 84.41 5.359 112.31 1.468 26.39 0.996 36.49 Company Last Price Ash-Sharqiyah Devt 45.9 Emaar Eco City 17.2 Saudi Arabian Re 40.6 Zain Saudi 8.2 Maaden 40.0 Chg % -1.9 -1.4 -0.6 -0.5 -0.5 Vol (mn) Value Trd (SAR mn) 1.986 92.89 1.858 32.52 1.748 71.99 7.736 63.94 2.786 112.54 TASI – Top Index Movers / Losers (Heavy weight stocks) YTD % (RHS) 1.8 25.0 1.6 20.0 1.4 15.0 1.2 10.0 1.0 Company Sabic Safco Al Rajhi Bk SIIG Savola Last Price 96.88 80.14 63.92 18.33 39.69 Chg % 2.6 8.2 0.8 6.6 2.7 Index Imp Value Trd (SAR mn) 15.9 5.51 10.4 1.10 6.0 2.66 4.3 1.47 4.2 0.51 Company Emaar Eco City Maaden Samba Zain Saudi Sadafco Last Price 17.22 39.99 23.04 8.20 130.65 Chg % -1.4 -0.5 -0.2 -0.5 -0.5 Index Imp Value Trd (SAR mn) -0.8 32.52 -0.8 112.54 -0.5 21.28 -0.1 63.94 -0.1 19.04 Chg % 0.0 1.0 4.6 5.7 3.9 -0.5 4.2 2.6 3.8 2.6 Vol (mn) Value Trd (SAR mn) 89.859 538.31 41.754 601.04 26.013 224.20 10.335 117.24 8.611 111.16 7.736 63.94 7.458 96.46 6.942 47.44 6.314 41.25 6.181 34.79 5.0 0.8 0.0 0.6 0.4 -5.0 0.2 -10.0 0.0 -15.0 Insurance Real Estate Agri TASI – Small Cap (<5% index weight) Sectors’ Performance 1D % (LHS) 3 MTD % (LHS) YTD % (RHS) 3 2 2 1 1 Media Hotels Multi invt Transport Energy Retail Building Industries Cement 0 -1 30.0 20.0 10.0 0.0 -10.0 -20.0 -30.0 -40.0 -50.0 -60.0 Last Price 52Wk High 15.23 15.23 19.39 19.39 18.33 18.40 72.50 73.00 63.92 64.50 % Diff 0.0% 0.0% 0.4% 0.7% 0.9% Company Last Price Dar Al Arkan 5.95 Alinma Bk 14.35 Saudi Kayan 8.66 Petro Rabigh 11.51 Takw een Advanced 12.95 Zain Saudi 8.20 Sahara Petro 12.86 Methanol Chemicals 6.81 Nama Chemicals 6.49 Saudi Re For Coo 5.64 TASI - Stocks Closer to 52 Week Low TASI – Stocks Closer to 52 Week High Company Sanad Coop Ins Weqaya For Takaf SIIG STC Al Rajhi Bk TASI – Volume Leaders Value Trd (SAR mn) 0.000 0.000 26.385 60.586 169.294 Company Sanad Coop Ins Weqaya For Takaf Etihad Atheeb Malath Insurance Alinma Tokio Mar Last Price 52Wk Low 15.23 15.23 19.39 19.39 3.12 2.80 8.00 7.10 16.60 13.60 % Diff 0.0% 0.0% 11.4% 12.7% 22.1% Value Trd (SAR mn) 0.000 0.000 10.519 6.786 15.410 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 7,094 1.3 1.3 2.6 Qatar 9,914 1.2 1.2 -4.9 Dubai 3,361 0.8 0.0 6.7 Abu Dhabi 4,309 1.1 0.0 0.0 Kuw ait 5,569 0.3 0.3 -0.8 Oman 5,590 1.9 1.9 3.4 Bahrain 1,178 0.3 0.3 -3.1 Data Sources: Al Rajhi Capital, Bloomberg Country Abu Dhabi – Activity Trend (Last 10 Days) ADSMI Index (RHS) 3.0 1.6 20.0 2.0 1.4 15.0 Services Telcom Transport Insurance Investment Bank Reality Consumer Insurance Services Industrial Fin.Services Banks Telecome -15.0 -20.0 YTD % (RHS) 20.0 15.0 10.0 0.2 -10.0 -3.0 -15.0 -4.0 -5.0 Insurance -1.0 -2.0 Agri MTD % (LHS) Div Yld 12M (%) 3.3 4.1 4.1 5.7 4.4 5.1 4.8 Last Price Change % 8.08 3.3 0.91 3.2 5.24 2.8 0.47 2.2 6.82 2.1 Vol (mn) 0.13 78.23 7.32 3.82 10.69 Company Last Price Change % National General Ins 1.72 -10.0 Marka 1.06 -3.6 DXBI 1.47 -2.7 Amlak Finance 0.45 -2.4 Drake & Scull Intl 0.51 -2.1 Vol (mn) 0.01 0.07 251.73 6.42 33.63 Company Intl Fish Farming Etisalat Al Khazna Ins UNB Aldar Prop Last Price Change % 1.72 13.2 18.65 6.0 0.37 2.8 4.50 2.3 2.48 0.8 Vol (mn) 0.000 5.308 0.150 0.251 11.756 Company Al Ain Ahlia Ins Fujairah Cement Green Crescent Ins Agthia Group FGB Last Price Change % 55.00 -8.3 0.83 -6.7 0.52 -3.7 6.15 -2.4 11.60 -2.1 Vol (mn) 0.005 0.005 10.000 0.160 4.121 Qatar – Top Gainers / Losers 0.0 -5.0 Real Estate -10.0 Real Estate 0.0 Insurance -5.0 1.0 0.4 0.0 0.0 Transport 5.0 0.6 5.0 Consumer 10.0 0.8 10.0 1D % (LHS) 25.0 1.0 YTD % (RHS) Qatar – Sector Performances YTD % (RHS) P/B (x) Current 1.6 1.5 1.2 1.4 1.0 1.1 0.4 Abu Dhabi – Top Gainers / Losers 15.0 5.0 4.0 3.0 2.0 1.0 0.0 -1.0 -2.0 1.8 1.2 MTD % (LHS) P/E (x) 2017E 13.9 -4.0 1.0 6.3 8.5 -8.2 NA Company ENBD Union Properties DIB Islamic Arab Ins Emaar Prop 35.0 30.0 25.0 20.0 15.0 10.0 5.0 0.0 -5.0 -10.0 20.0 30-Nov 29-Nov 28-Nov 27-Nov 24-Nov 22-Nov 21-Nov 20-Nov 23-Nov MTD % (LHS) YTD % (RHS) 7.0 Qatar – Activity Trend (Last 10 Days) 1D % (LHS) 1D % (LHS) P/E (x) 2016E 15.1 12.7 11.0 11.2 NA 9.1 NA Dubai – Top Gainers / Losers 4,500 6.0 4,000 17-Nov 0.0 P/E (x) 12M 16.8 14.4 11.0 11.1 18.9 10.6 9.6 Abu Dhabi – Sector Performances Telecom Turnover (LHS, AED bn) 0.5 -5.0 Energy 27-Nov 24-Nov 23-Nov 22-Nov 21-Nov 20-Nov 17-Nov 0.0 MTD % (LHS) Bank 0.4 Turnover US$ mn 1,794 89 294 86 53 15 1 0.0 ADSM 0.8 1D % (LHS) Real Estate 1.2 5.0 DSM 1.6 30-Nov 2.0 29-Nov DFMGI Index (RHS) 3,380 3,360 3,340 3,320 3,300 3,280 3,260 3,240 28-Nov Turnover (LHS, AED bn) Volume mn shr 374 10.5 793 105 175 26 0.8 Dubai – Sector Performances DFM Dubai – Activity Trend (Last 10 Days) MCap US$ bn 443 125 79 115 83 17 18 5.0 0.0 -5.0 -10.0 Company Safco Thimar Lazurde SIIG Al Hokair Last Price 80.14 34.19 21.51 18.33 37.12 Chg % 8.2 ` 7.1 6.6 6.3 Vol (mn) Value Trd (SAR mn) 1.102 88.60 2.526 84.41 5.359 112.31 1.468 26.39 0.996 36.49 Company Last Price Ash-Sharqiyah Devt 45.9 Emaar Eco City 17.2 Saudi Arabian Re 40.6 Zain Saudi 8.2 Maaden 40.0 Chg % -1.9 -1.4 -0.6 -0.5 -0.5 Vol (mn) Value Trd (SAR mn) 1.986 92.89 1.858 32.52 1.748 71.99 7.736 63.94 2.786 112.54 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 Kuwait – Sector Performances Oil&Gas Healthcare Insurance Basic material Telecom Consumer Parallel Services Bank Fin. Services Industrial Real estate Investment KSE Technology 1D % (LHS) MTD % (LHS) YTD % (RHS) 10.0 6.0 4.0 MSM 30 Bank Industry Last Price Change % 118 -7.8 48.5 -6.7 33 -5.7 160 -4.8 110 -3.5 Vol (mn) 0.004 3.627 0.044 0.000 2.566 Oman – Top Gainers / Losers Services 2.0 0.0 Company NBO Gulf Invest Svcs Al Sharqiya Inv Ooredoo Al Anw ar Holding 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 -2.0 Bahrain – Sector Performances MTD % (LHS) Bahrain – Top Gainers / Losers YTD % (RHS) Services 1D % (LHS) Industries 2.5 2.0 1.5 1.0 0.5 0.0 -0.5 -1.0 -1.5 -2.0 Vol (mn) 2.431 3.600 1.380 0.055 11.872 -20.0 8.0 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 Company Hilal Cement Co -5.0 Housing Finance -10.0 Kuw ait Fin & Invest Ifa Hotels & Res -15.0 Al-Mazaya Hldg Oman – Sector Performances 0.6 0.5 0.4 0.3 0.2 0.1 0.0 -0.1 -0.2 -0.3 -0.4 -0.5 Last Price Change % 116 9.4 39.5 6.8 City finance 44.5 6.0 Human Soft 1780 6.0 Al Salam Group Hldg 45.5 5.8 0.0 Insurance 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) Company 25.0 GFH 20.0 Hets telecom 5.0 Hotel & T ourism Bahrain – Activity Trend (Last 10 Days) -1.5 YTD % (RHS) 10.0 Banks 1-Nov 31-Oct 30-Oct 27-Oct 26-Oct 25-Oct 24-Oct 0 6-Nov 4 3-Nov 8 2-Nov MSM30 Index (RHS) 5,540 5,520 5,500 5,480 5,460 5,440 5,420 -1.0 MTD % (LHS) Kuwait – Top Gainers / Losers 15.0 BSE 6-Nov 5,460 5,440 2.5 5,420 2.0 5,400 1.5 5,380 5,360 1.0 5,340 0.5 5,320 5,300 0.0 5,280 -0.5 Oman – Activity Trend (Last 10 Days) Turnover (LHS, OMR mn) 1D % (LHS) 3.0 3-Nov 2-Nov 1-Nov 31-Oct 30-Oct 26-Oct 25-Oct 40 35 30 25 20 15 10 5 0 27-Oct Turnover (LHS, KWD mn) KWSEIDX Index (RHS) 24-Oct Thousands Kuwait – 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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6. Daily Market Report Saudi Arabia Stock Exchange Disclaimer and additional disclosures for Equity Research Disclaimer This research document has been prepared by Al Rajhi Capital Company (“Al Rajhi Capital”) of Riyadh, Saudi Arabia. It has been prepared for the general use of Al Rajhi Capital’s clients and may not be redistributed, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of Al Rajhi Capital. Receipt and review of this research document constitute your agreement not to redistribute, retransmit, or disclose to others the contents, opinions, conclusion, or information contained in this document prior to public disclosure of such information by Al Rajhi Capital. The information contained was obtained from various public sources believed to be reliable but we do not guarantee its accuracy. 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