Issuu on Google+

Kuwait Financial Centre “Markaz” Daily Morning Brief Equity watch M. Cap Indicators (USD Bn) MENA Markets Saudi (TASI) 347 Turkey ISE National 100 198 Kuwait SE WT.INDEX 102 Qatar(QE Index) 96 Abu Dhabi (ADI) 75 Morocco (CAI) 51 Dubai (DFMGI) 47 Egypt (Hermes) 54 Jordan (Amman) 22 Bahrain (BAX) 16 Oman(Muscat SM) 15 Lebanon (BSE) 12 Emerging Markets MSCI EM Index 3,768 MSCI BRIC Index 1,573 Shanghai A Share Index 2,284 SENSEX Index (India) 522 S&P GCC Composite 234 Developed Markets MSCI WORLD Index 30,635 US (S&P 500) 12,718 UK (FTSE) 2,434 Japan (Nikkei 225) 2,133 France (CAC) 1,013 Germany (DAX) 824

*

Last Close

Chg (%)

MTD %

YTD %

2011 P/E Div. % TTM Yield

6,641 62,675 406 8,295 2,457 9,789 1,517 476 4,387 1,115 5,499 1,143

-0.33 0.02 0.40 0.14 -0.16 1.24 0.93 0.18 0.02 0.23 0.40 0.06

-1.02 3.48 -3 0.21 22.25 -22 0.82 -0.00 -16 2.12 -5.51 1 0.38 2.27 -12 -2.63 -11.23 -13 4.45 12.05 -17 -0.67 24.65 -42 -0.06 -5.62 -13 -1.03 -2.50 -20 -3.36 -3.45 -16 0.36 -2.85 -20

12 10 15 9 7 11 10 9 12 8 11 10

4.3 2.5 3.4 4.5 6.2 4.1 4.5 3.8 5.0 5.5 4.8 1.2

919 858 2,249 17,103 92

0.04 -0.49 -1.74 -0.64 0.03

-1.04 -1.19 -3.48 -1.87 -0.60

1.64 -2.55 -2.38 10.67 0.36

-21 -26 -22 -25 -8

12 3.1 9 3.5 11 2.7 14 1.5 11* 3.8*

784 1,354 5,662 8,724 3,180 6,566

0.01 -0.23 -0.07 0.05 -0.03 0.13

-0.81 -0.63 1.64 -3.14 -0.52 2.33

3.53 7.64 1.62 3.18 0.64 11.31

-10 0 -6 -17 -17 -15

14 14 11 15 10 11

July 17, 2012

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

Current

2011

121.04 121.26 343.78 119.77 210.00 346.67

123.32 124.89 445.00 125.39 246.00 376.66

52-week High Low 137.30 94.04 148.50 89.96 509.90 330.47 146.93 90.16 290.50 160.50 387.62 235.53

Source: Bloomberg, Reuters Eikon

Interest rate watch Inter-bank 3M Int US 3M Deposit rate rates % Rate % Kuwait 0.38 0.46 Saudi 0.61 0.46 UAE 0.25 0.46 Qatar 0.40 0.46 Oman 0.44 0.46 Bahrain 0.35 0.46 Last FOMC Meeting Date: Jun 19-20

Yield curve watch Libor (In %)

Diff FY11 Diff -0.08 0.04 0.15 -0.08 -0.21 0.03 -0.06 0.05 -0.02 0.03 -0.11 -0.17 Next FOMC Mt Date: Jul 31-Aug 1

US Treasuries

(In %)

2.8 2.6 4.2 2.3 4.4 4.0

- 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 242 117 141

Chg (%) MTD % 0.26 1.51 0.59 2.73 0.00 0.36

YTD % 4.75 7.86 6.11

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 =)

Close

Chg (%) MTD % YTD %

1,589.79 27.29 103.37 481.40 17.11 1.23 78.92 0.2795 0.3457

-0.02 -0.04 0.95 0.49 2.21 -0.35 0.20 0.00 -0.38

-0.46 -0.69 5.70 1.22 0.18 3.06 1.08 0.00 2.37

1.64 -1.76 -3.73 -0.13 -26.88 5.48 -2.53 -0.43 4.28

23.4 1.2955 76.92 0.27825 0.3605

32 -3 -5 -1 -4

Blue chip watch M. Cap Last (USD Companies Bn) Saudi Arabia (SAR) SABIC 69 86.5 Al-Rajhi Bank 29 73.8 Saudi Telecom 19 36.5 Saudi Electricity Co. 14 12.9 Samba Fin. Group 11 44.7 United Arab Emirates (AED) ETISALAT 20 9.1 NBAD 9 8.2 First Gulf Bank 7 8.5 Emirates NBD 4 2.7 Emaar Properties 5 3.2 Kuwait (KWD) 11 0.7 ZAIN 16 1.1 NBK 7 0.7 KFH Gulf Bank 4 0.4 3 0.7 Comm. Bk. Kuwait Qatar (QAR) Industries Qatar 20 133.9 25 131.5 QNB Ezdan Real Est. Co. 15 19.9 9 104.8 Q-TEL Comr’cialBk of Qatar 5 70.0

Pct Chg

% M T D

% P Y 2011 / Div T % E yield D (ttm)

1.5 0.3 0.0 0.0 0.7

-6.7 0.0 -7.6 0.0 -0.9

-10 6 8 -7 -4

-8 -16 -21 -1 -24

9 14 8 22 9

-0.4 -0.2 -0.2 -0.7 2.5

-0.8 -0.8 6.1 -1.5 15.4

0 3 10 -9 26

-15 12 -11 7 -28

-1.4 1.9 0.0 1.2 0.0

-6.8 3.9 -4.1 -3.4 -5.1

-23 4 -15 -14 -6

0.0 -0.2 0.3 -0.2 0.1

7.1 0.2 -0.1 1.3 2.3

1 -5 -10 11 -17

PAT (Mn) 1Q12

% Gr YoY

5.8 4.4 5.5 5.4 3.7

7,271 2,093 2,521 -583 1,158

-5 14 60 NM 5

12 9 7 8 10

6.6 3.6 11.8 7.5 3.1

1,809 1,041 935 641 606

0 12 7 -55 44

-41 -14 -16 -11 -14

9 15 26 38 -

9.4 3.8 2.1 0.0 0.0

71 81 20 7 0.3

1 0 -11 -25 -75

-4 14 -27 -5 -9

10 11 154 11 9

5.6 3.0 0.8 2.5 8.6

1,907 2,112 144 711 471

-9 17 291 -12 6

Corporate earnings watch Earnings

Company Name

Type

Natl Agr Market Co Sahara Petro Chem Co Tabouk Agr Dev Co Saudi Tasnee

6M 6M 3M 3M

Country

Saudi Arabia Saudi Arabia Saudi Arabia Saudi Arabia

PFY

% Ch

SAR (Mn)

-0.51

-5.11

N.M.

SAR (Mn)

96.25

310.5

-69.0

SAR (Mn)

10.40

18.25

-43.0

SAR(Mn)

580.1

594.20

-2.4

Currency

LFY

News & Views 

 

Kuwait's Al Safwa Group Holding Co. has said that it has signed a deal with one of its creditor banks for a complete and final settlement of a debt worth 38.3 million Kuwaiti dinars (USD135.8 million). National Bank of Abu Dhabi has appointed Mohammed Ali Yasin as the managing director of its brokerage arm, Abu Dhabi Financial Services. Gulf Finance house an Islamic investment bank based in Bahrain, has said that it reached a deal with banks to restructure a USD100 million facility and will repay the debt over six years. Kuwait's Securities House has said that it is interested in merging with, or acquiring, Al Aman Investment Co. Kuwait's Gulf Group Holding Co. intends to list its shares on the local bourse. GGHC expects to begin posting profits starting from 2013 as the industrial gas plant of its 53% owned local unit Technogas begins operations in October. Mobile Telecommunications Co. Saudi Arabia, has sold just 54% of its USD1.6 billion rights issue by late Monday, with one day left in the issue.

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


DMB17072012