Page 1

Kuwait Financial Centre “Markaz” Daily Morning Brief Equity watch Indicators

M. Cap Last (USD Bn) Close

MENA Markets Saudi (TASI) Turkey ISE National 100 Kuwait SE WT.INDEX Qatar(QE Index) Abu Dhabi (ADI) Morocco (CAI) Dubai (DFMGI) Egypt (Hermes) Jordan (Amman) Bahrain (BAX) Oman(Muscat SM) Lebanon (BSE) Emerging Markets MSCI EM Index MSCI BRIC Index Shanghai A Share Index SENSEX Index (India) S&P GCC Composite Developed Markets MSCI WORLD Index US (S&P 500) UK (FTSE) Japan (Nikkei 225) France (CAC) Germany (DAX)

Chg (%)

MTD %

YTD %

2011 P/E Div. % TTM Yield

359 198 102 96 75 52 47 56 23 17 15 12

6,855 62,781 407 8,273 2,475 9,958 1,498 492 4,424 1,121 5,561 1,150

-0.07 0.00 0.75 0.07 0.11 0.00 -0.43 -0.95 -0.17 -0.05 -0.29 0.00

2.16 0.38 1.20 1.85 1.12 -0.95 3.19 2.77 0.77 -0.48 -2.26 0.98

6.82 22.46 0.36 -5.76 3.03 -9.70 10.70 28.97 -4.84 -1.96 -2.35 -2.25

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

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

4.2 2.5 3.4 4.5 6.1 4.0 4.6 3.6 5.0 5.4 4.7 1.1

3,844 1,614 2,373 534 238

938 880 2,329 17,521 94

0.00 0.00 0.00 0.00 0.03

1.01 1.41 -0.08 0.52 1.31

3.75 0.02 1.06 13.37 2.29

-21 -26 -22 -25 -8

12 3.1 9 3.5 12 2.6 14 1.5 12* 3.8*

30,809 12,700 2,413 2,196 1,012 802

789 1,355 5,663 9,021 3,169 6,410

0.00 0.00 0.00 0.00 0.00 0.00

-0.21 -0.55 1.64 0.16 -0.87 -0.10

4.15 7.72 1.62 6.69 0.28 8.68

-10 0 -6 -17 -17 -15

14 14 11 15 10 11

July 9, 2012

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

Current

2011

123.33 124.50 346.59 125.51 210.00 341.57

123.32 124.89 445.00 125.39 246.00 376.66

52-week High Low 137.30 94.04 148.50 89.96 509.90 328.63 146.93 90.16 290.50 156.50 387.62 235.38

Source: Bloomberg, Reuters Eikon

Interest rate watch Inter-bank 3M Int US 3M Deposit rate rates % Rate % Kuwait 0.50 0.45 Saudi 0.60 0.45 UAE 0.30 0.45 Qatar 0.40 0.45 Oman 0.50 0.45 Bahrain 1.00 0.45 Last FOMC Meeting Date: Jun 19-20

Yield curve watch Libor (In %)

Diff FY11 Diff 0.05 0.04 0.15 -0.08 -0.15 0.03 -0.05 0.05 0.05 0.03 0.55 -0.17 Next FOMC Mt Date: Jul 31-Aug 1

US Treasuries

(In %)

2.8 2.6 4.2 2.2 4.4 4.1

*

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

KIBOR yield curve (%)

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

Last 241 115 141

Chg (%) MTD % 0.41 0.92 0.00 0.80 0.00 0.29

YTD % 4.14 5.83 6.03

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 %

1,582.50 27.07 98.19 481.45

0.00 0.00 0.00 0.00

17.1 1.23 79.63 0.2795 0.3452

0.00 0.01 0.01 0.00 0.06

-0.91 -1.49 0.40 1.23 0.12 3.03 0.18 0.00 2.52

1.18 -2.56 -8.56 -0.12 -26.92 5.45 -3.40 -0.43 4.43

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 72 89.5 Al-Rajhi Bank 30 74.0 Saudi Telecom 21 38.7 Saudi Electricity Co. 14 13.0 Samba Fin. Group 11 46.1 United Arab Emirates (AED) ETISALAT 20 9.3 NBAD 9 8.3 First Gulf Bank 7 8.4 Emirates NBD 4 2.7 Emaar Properties 5 3.1 Kuwait (KWD) 11 0.7 ZAIN 16 1.1 NBK 8 0.7 KFH Gulf Bank 4 0.4 4 0.8 Comm. Bk. Kuwait Qatar (QAR) Industries Qatar 20 132.0 26 133.2 QNB Ezdan Real Est. Co. 14 19.6 9 105.2 Q-TEL Comr’cialBk of Qatar 5 69.2

Pct Chg

% M T D

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

0.0 -0.3 0.8 0.0 0.4

-3.5 0.3 -2.0 0.8 2.2

-7 6 14 -6 -1

-8 -16 -21 -1 -24

9 14 9 23 10

0.1 0.2 0.1 -1.8 0.0

1.0 -0.5 5.3 -2.2 10.0

2 4 9 -10 20

-15 12 -11 7 -28

1.4 0.0 0.0 0.0 4.0

-4.1 3.9 -1.4 -1.1 0.0

-21 4 -12 -11 -1

-0.2 -0.4 0.0 -0.5 -0.1

5.6 1.4 -1.5 1.6 1.2

-1 -4 -12 12 -18

PAT (Mn)

Corporate earnings watch Earnings

Company Name

Type

The Saudi Inv Bank Riyad Bank

6M

Al Safat R E Co

3M

6M

Country

Saudi Arabia Saudi Arabia Kuwait

Currency

LFY

SAR (Mn)

435.00

416.27

PFY

% Ch

4.5

SAR(Bn)

1.82

1.6

15.0

KWD(Mn)

-0.21

-0.52

N.M.

News & Views

1Q12

% Gr YoY

5.6 4.4 5.2 5.4 3.6

7,271 2,011 2,521 -583 1,145

-5 18 60 NM 2

13 9 7 8 10

6.5 3.6 11.9 7.5 3.2

1,809 1,041 935 641 606

0 12 7 -55 44

-41 -14 -16 -11 -14

10 15 27 39 -

9.2 3.8 2.1 0.0 0.0

71 81 20 7 0.3

1 0 -11 -25 -75

-4 14 -27 -5 -9

9 11 152 11 9

5.7 3.0 0.8 2.5 8.7

1,907 2,004 144 711 471

-9 17 291 -12 6

  

A Hong Kong-based investor, HPF Private Investment Fund Co, has bought full ownership of Amman-based Jordan Dubai Capital for 92 million Jordanian dinar (USD 130 million) from Dubai International Capital and other shareholders. Qatar has mandated banks to arrange a series of investor meetings in Asia starting next week and may issue a U.S. dollar Islamic bond, depending on market conditions. Saudi Arabia will build four industrial clusters around Riyadh dedicated to women entrepreneurs with the aim of reducing unemployment rate among Saudi women. Kuwait's Zain telecom has said that its Iraqi unit has been fined USD12,877 a day since September 1 for failing to list on the bourse but will seek to have the penalty that has reached USD4 million scrapped. Kuwait Airways Corp. has decided to ground several ageing planes for repeated malfunctions. Qatar Steel, a wholly-owned subsidiary of local conglomerate Industries Qatar, has signed a memorandum of understanding with Algeria to build a 5 million ton steel plant. Saudi Aramco has announced the launch of its new wholly-owned corporate venturing subsidiary called Saudi Aramco Energy Ventures (SAEV). A five-year development ban on the coasts of Sitra in Bahrain has been lifted to pave way for major infrastructure and housing projects. Abu Dhabi's nominal gross domestic product grew 30 per cent to hit Dh806 billion (USD219 billion) in 2011.

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

DMB09072012  

DMB09072012

Read more
Read more
Similar to
Popular now
Just for you