Issuu on Google+

Kuwait Financial Centre “Markaz” Daily Morning Brief Equity watch M. Cap Indicators (USD Bn) MENA Markets Saudi (TASI) 369 Turkey ISE National 100 218 Kuwait SE WT.INDEX 105 Qatar(QE Index) 97 Abu Dhabi (ADI) 80 Morocco (CAI) 53 Dubai (DFMGI) 49 Egypt (Hermes) 64 Jordan (Amman) 23 Bahrain (BAX) 16 Oman(Muscat SM) 15 Lebanon (BSE) 12 Emerging Markets MSCI EM Index 4,103 MSCI BRIC Index 1,715 Shanghai A Share Index 2,271 SENSEX Index (India) 605 S&P GCC Composite 242 Developed Markets MSCI WORLD Index 33,362 US (S&P 500) 13,653 UK (FTSE) 2,622 Japan (Nikkei 225) 2,140 France (CAC) 1,175 Germany (DAX) 980

*

Last Close

Chg (%)

6,888 67,384 419 8,478 2,650 9,463 1,627 577 4,549 1,078 5,646 1,119

MTD %

0.01 0.71 -0.15 -0.30 -0.13 -0.64 0.25 0.95 -0.04 0.08 0.52 0.51

YTD %

2011 P/E Div. % TTM Yield

0.70 7.33 -3 1.49 31.44 -22 0.26 3.31 -16 -0.37 -3.42 1 1.71 10.31 -12 -0.09 -14.19 -13 3.08 20.24 -17 -2.29 51.12 -42 -0.06 -2.14 -13 -0.88 -5.77 -20 2.02 -0.86 -16 0.34 -4.87 -20

12 11 16 9 9 15 11 12 13 8 11 9

4.7 2.5 3.3 4.6 5.7 4.2 4.5 3.2 4.8 5.1 4.6 1.2

1,001 0.35 936 0.51 2,185 1.45 18,938 -0.63 96 -0.07

0.66 1.35 1.45 0.94 0.57

10.65 6.40 -5.18 22.54 3.93

-21 -26 -22 -25 -8

13 10 11 17 12*

2.8 3.3 2.6 1.3 3.2*

853 1,461 5,871 8,863 3,457 7,398

1.57 1.41 2.25 -0.08 3.05 2.52

12.64 16.17 5.36 4.82 9.41 25.42

-10 0 -6 -17 -17 -15

15 16 12 15 12 14

2.8 2.5 4.2 2.3 4.1 3.5

0.41 -0.03 0.74 0.44 1.64 1.27

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

HSBC/Nasd. Dub GCC $ T.Ret

Country Saudi Arabia Abu-Dhabi Dubai Qatar Oman Bahrain

Current

2011

87.73 104.23 289.06 102.40 168.00 254.50

123.32 124.89 445.00 125.39 246.00 376.66

52-week High Low 342.35 85.21 342.35 98.12 509.90 111.20 342.35 96.86 342.35 111.20 387.62 111.20

Source: Bloomberg, Reuters Eikon

Interest rate watch Inter-bank 3M Int US 3M Deposit rate rates % Rate % Kuwait 0.36 0.35 Saudi 0.62 0.35 UAE 0.36 0.35 Qatar 0.34 0.35 Oman 0.31 0.35 Bahrain 1.00 0.35 Last FOMC Meeting Date: Sep12-13

Yield curve watch Libor (In %)

Diff FY11 Diff 0.01 0.04 0.27 -0.08 0.01 0.03 -0.01 0.05 -0.04 0.03 0.65 -0.17 Next FOMC Mt Date: Oct 23-24

US Treasuries

(In %)

KIBOR yield curve (%)

Fixed Income Watch Barclays US treas. 10 Yr JP Morgan Em Bond ETF

7 Oct, 2012

5 – year CDS (USD) watch (bps)

Last 240 121 144

Chg (%) MTD % -0.47 -0.64 0.13 0.48 0.03 0.31

YTD % 3.57 11.58 8.36

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

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 %

1,780.90 34.49 112.02 493.44 14.33 1.30 78.65 0.2805 0.3656

-0.43 -1.26 -0.50 -0.13 -1.51 -0.12 -0.23 -0.17 -0.08

0.58 0.09 -0.33 -0.78 -8.90 -1.62 -1.00 0.16 -1.50

13.86 24.15 4.32 2.37 -38.76 -0.60 -2.20 -0.80 -1.39

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 73 91.5 Al-Rajhi Bank 29 71.3 Saudi Telecom 22 41.0 Saudi Electricity Co. 14 13.1 Samba Fin. Group 11 44.7 United Arab Emirates (AED) ETISALAT 21 9.8 NBAD 10 9.6 First Gulf Bank 8 10.0 Emirates NBD 4 3.0 Emaar Properties 6 3.7 Kuwait (KWD) 11 0.7 ZAIN 15 1.0 NBK 8 0.8 KFH Gulf Bank 4 0.4 3 0.7 Comm. Bk. Kuwait Qatar (QAR) Industries Qatar 21 141.4 26 135.6 QNB Ezdan Real Est. Co. 14 19.5 9 103.9 Q-TEL Comr’cialBk of Qatar 5 73.0

% M T D

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

0.0 0.0 2.0 -0.4 0.0

0.5 0.0 3.3 -0.4 0.9

-5 3 21 -6 -4

-8 -16 -21 -1 -24

11 13 9 22 9

5.5 4.6 4.9 5.4 3.7

5,303 2,093 2,408 1,360 1,158

-35 14 7 2 5

0.2 0.7 0.0 0.0 0.8

1.7 5.5 0.1 -0.3 6.0

8 21 29 1 44

-15 12 -11 7 -28

13 6.1 10 3.1 8 10.0 10 6.7 10 2.7

1,866 1,046 1,017 648 614

17 2 14 -13 146

0.0 -1.0 0.0 0.0 0.0

0.0 0.0 0.0 0.0 0.0

-18 -3 -8 -9 -10

-41 -14 -16 -11 -14

10 15 29 45 -

8.8 4.0 1.9 0.0 0.0

71 40 22 5 0.1

1 -40 -3 -36 -5

-0.2 0.1 -0.5 -1.0 -1.2

0.5 -0.1 -1.0 -1.5 -2.0

6 -2 -12 10 -13

-4 14 -27 -5 -9

10 11 81 11 9

5.3 3.0 0.8 2.5 8.2

2,129 2,112 198 641 546

3 17 91 -11 7

Pct Chg

Corporate earnings watch Company Name

Advanced Petrochem

% Gr YoY

9M

Country

Saudi

Currency

SAR(Mn)

LFY

211.00

PFY

% Ch

422.00

-50.0

News & Views 

Falconcity of Wonders plans to construct a 11-storey high pyramid in Dubai, which will accommodate offices and a museum at a cost of AED120m. It is expected to take 24-30 months from receipt of clearance from authorities.

Sharjah Healthcare City, the largest healthcare city in the UAE will span 2.4mn square metres. Scheduled to open next year, the city will operate as a Free Zone under Sharjah Health Authority. It will offer 100% foreignowned investment opportunities for small, medium, large hospitals , labs, rehabilation and wellness centres etc.

IMF chief, Christine Lagarde appreciates Gulf oil exporters for their part in stabilizing oil prices. The GCC states have maintained high production levels to compensate for the lower supplies from Iran as a result of sanctions.

KSA’s Emaar EC, developer of King Abdullah Economic City signs a SAR 91mn contract with Al Harbi Contracting for infrastructure works in the city. The 365-day contract involves asphalt-paving and lighting of roads, in addition to setting up water, telecom, electricity and sewage grids.

1H12 witnessed stabilization of rents for Class 1 logistics facilities in Dubai. This was observed in Jebel Ali Free Zone and Dubai Investments Park: Knight Frank.

KSA’s Royal Commission for Jubail and Yanbu signed three contracts for a combined value of SAR 160mnfor infrastructure projects in the Jubail and Yanbu industrial cities.

PAT (Mn) 2Q12

Earnings Type

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


DMB07102012