Page 1

Kuwait Financial Centre “Markaz” Daily Morning Brief Equity watch M. Cap Last Indicators (USD Bn) Close MENA Markets Saudi (TASI) 379 7,278 Turkey ISE National 100 193 60,479 Kuwait SE WT.INDEX 103 412 Qatar(QE Index) 98 8,727 Abu Dhabi (ADI) 74 2,500 Morocco (CAI) 57 10,294 Dubai (DFMGI) 51 1,649 Egypt (Hermes) 56 472 Jordan (Amman) 24 4,679 Bahrain (BAX) 17 1,139 Oman(Muscat SM) 14 5,949 Lebanon (BSE) 13 1,189 Emerging Markets MSCI EM Index 4,092 1,010 MSCI BRIC Index 1,786 985 Shanghai A Share Index 2,512 2,469 SENSEX Index (India) 558 17,151 S&P GCC Composite 250 100 Developed Markets MSCI WORLD Index 31,888 817 US (S&P 500) 12,832 1,370 UK (FTSE) 2,523 5,666 Japan (Nikkei 225) 2,262 9,471 France (CAC) 1,094 3,205 Germany (DAX) 915 6,625

*

Chg (%)

MTD %

YTD %

-0.96 -0.17 -0.35 -0.14 -0.50 0.59 -1.55 0.00 -1.33 0.05 -0.91 0.00

-7.11 -3.12 -2.04 -0.72 -2.09 -5.98 0.02 -4.61 -0.27 -1.19 4.55 -2.87

13.40 17.97 1.48 -0.59 4.05 -6.66 21.86 23.70 0.67 -0.44 4.46 1.06

-3 -22 -16 1 -12 -13 -17 -42 -13 -20 -16 -20

13 10 14 9 8 11 11 10 13 8 14 10

3.8 2.5 3.1 4.3 6.0 3.9 4.1 4.2 4.7 5.3 5.9 0.5

Interest rate watch

0.47 -2.00 11.66 0.75 -1.70 11.97 -0.09 4.16 7.15 0.33 -1.46 10.97 -0.74 -5.60 8.28

-21 -26 -22 -25 -8

12 10 13 14 12*

2.7 2.8 2.2 1.5 3.8*

Yield curve watch

0.13 -0.05 0.26 -1.74 0.51 0.63

-10 0 -6 -17 -17 -15

15 17 11 17 10 11

2.6 2.2 4.3 2.0 4.4 3.8

-3.25 -2.76 -1.77 -6.08 -6.38 -4.63

2011 P/E Div. % TTM Yield

7.93 8.90 1.69 12.01 1.44 12.32

17 April, 2012

5 – year CDS (USD) watch (bps) Country Saudi Arabia Abu-Dhabi Dubai Qatar Oman Bahrain

Current

2011

118.76 116.29 360.05 120.25 209.50 358.68

123.32 124.89 445.00 125.39 246.00 376.66

52-week High Low 137.30 94.04 148.50 89.96 509.90 319.53 146.93 90.16 290.50 143.00 387.62 220.22

Source: Bloomberg, Reuters Eikon

Inter-bank 3M Int US 3M Deposit rate rates % Rate % Kuwait 0.46 0.49 Saudi 0.60 0.49 UAE 0.30 0.49 Qatar 0.40 0.49 Oman 0.15 0.49 Bahrain 0.85 0.49 Last FOMC Meeting Date: Mar 13

Libor (In %)

Diff FY10 Diff -0.03 0.04 0.11 -0.08 -0.19 0.03 -0.09 0.05 -0.34 0.03 0.36 -0.17 Next FOMC Meet Date: Apr 24-25

US Treasuries

(In %)

- P/E & Div. Yield for GCC as per Zawya

Fixed Income Watch Barclays US treas. 10 Yr JP Morgan Em Bond ETF HSBC/Nasd. Dub GCC $ T.Ret

Last 232 112 137

Chg (%) MTD % 0.18 1.98 0.06 0.17 0.00 0.12

YTD % 0.34 3.56 2.81

2011 231.43 108.36 133.00

2011% 15 2 8

2011

2011%

1564.11 27.78 107.38 482.01

10 -10 14 -7

KIBOR yield curve (%)

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 =)

Blue chip watch

Close 1,651.60 31.45 118.68 488.05 19.55 1.31 80.38 0.2778 0.3648

Chg (%) MTD % YTD % -0.42 -0.03 -2.09 -0.87 0.00 -0.53 0.63 0.15 -0.38

-0.98 -2.36 -3.36 -1.84 26.13 1.58 3.00 -0.10 1.51

5.59 13.21 10.52 1.25 -16.45 -1.37 -4.30 0.18 -1.18

23.4 1.2955 76.92 0.27825 0.3605

32 -3 -5 -1 -4

Corporate earnings watch Company Name

Etihad Etisalat Co. Saudi Vit Cly Pipe Co. Tabouk Agri Dev Co. Saudi Htls & Rst Areas

Earnings Type

LFY

PFY

3M

Saudi

Country

SAR(Mn)

1,210

1,000

21

3M

Saudi

SAR(Mn)

19.00

19.1

-0.5

3M

Saudi

SAR(Mn)

3.5

8.1

-57

Currency

% Ch

M. % % P PAT (Mn) 3M Saudi SAR(Mn) 97 37 164 Cap Pct M Y 2011 / Div Last % Gr (USD Chg T T % E yield 4Q11 Companies YoY Bn) D D (ttm) News & Views Saudi Arabia (SAR)  Saudi Arabia's Mohammad al-Mojil Group said it will appoint a local bank SABIC 78 98.0 -1.3 -9.3 2 -8 10 5.1 5,266 -8 as an advisor to help with its debt restructuring. The group also plans to Al-Rajhi Bank 30 75.5 -1.0 -8.8 9 -16 15 4.3 2,011 21 take a subordinated loan of SAR 100mn ($26.7mn) from Al-Mojil Saudi Telecom 20 38.3 -1.5 -6.1 13 -21 10 5.2 2,337 2 Investment Ltd. Saudi Electricity Co. 15 13.4 -3.2 -16.3 -4 -1 25 5.2 -522 NM  Saudi Chemical Co. said it plans to invest SAR 230mn ($61mn) to build a new pharmaceutical plant in the industrial area of Hail. The facility will Samba Fin. Group 13 54.0 2.4 -4.8 16 -24 11 3.1 943 5 target the world's leading drug manufacturers for licenses to manufacture United Arab Emirates (AED) their products. ETISALAT 18 8.6 0.0 -3.6 -6 -15 12 7.0 704 -65  Qatar Airways Chief Executive criticized Europe's tax on airlines for carbon NBAD 9 8.6 -0.5 -0.7 8 12 9 3.5 724 -1 emissions, saying it will hit fast-growing Middle East carriers the hardest. First Gulf Bank 8 9.3 -1.0 -4.4 20 -11 7 10.8 1,022 18  Qatar's sovereign wealth fund said it signed an agreement to acquire Emirates NBD 4 2.9 0.0 -5.6 -2 7 6 6.9 2,531 523 Smeralda Holding, owner of luxury resorts on Costa Smeralda in Sardinia, Emaar Properties 5 3.2 -0.3 4.3 23 -28 11 3.2 717 162 from US-based Colony Capital. Kuwait (KWD)  Horizon Terminals Ltd, a subsidiary of Emirates National Oil Co has awarded a contract to Indian construction firm Punj Lloyd to build an oil 11 0.7 -1.4 -11.1 -20 -41 10 9.0 75 -14 ZAIN products terminal at Jebel Ali and construct a 60KM fuel pipeline to Dubai 17 1.1 0.0 -1.9 4 -14 15 3.8 77 -0 NBK International Airport. 8 0.7 -1.3 -5.1 -11 -16 26 2.0 10 10 KFH  Dubai World is planning to invest AED 13.6bn in new projects in the next Gulf Bank 4 0.4 1.2 -6.5 -11 -11 36 0.0 31 252 three years as part of an ongoing expansion strategy worldwide, its 4 0.8 0.0 0.0 0 -14 NM 0.0 -7 NM Comm. Bk. Kuwait chairman said. Qatar (QAR)  Tamweel PJSC may consider tapping the debt market again this year Industries Qatar 21 139.2 0.4 -0.9 5 -4 10 5.4 1,686 19 after the mortgage lender raised $300mn from the sale of Islamic bonds 26 134.9 0.5 -0.1 -2 14 11 3.0 2,004 29 QNB in January, acting CEO said. 14 19.7 -0.5 -1.0 -11 -27 151 0.8 144 NM Ezdan Real Est. Co.  Omani lender Bank Nizwa plans to raise $156mn by selling 40% of capital 8 127.7 -0.1 -5.4 18 -5 11 2.3 603 33 in an IPO on the Muscat Securities Market. Subscription will start on April Q-TEL 23. 5 75.9 1.2 -1.2 -10 -9 10 7.9 379 23 Comr’cial Bk of Qatar Note: 1 Weekend Details – Saudi Arabia – Thursday & Friday; Turkey, Morocco & Lebanon – Saturday & Sunday; MENA Ex-Saudi Arabia, Turkey, Morocco & Lebanon – Friday & Saturday; US, European & Emerging Markets – Saturday & Sunday. Markaz Research can now be accessed on Bloomberg. Type “MRKZ” <Go>. This report has been prepared and issued by Kuwait Financial Centre S.A.K (Markaz), which is regulated by 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

DMB17042012  

DMB17042012

Read more
Read more
Similar to
Popular now
Just for you