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Kuwait Weekly Update


29th of December 2011 Market Performance: The Kuwaiti market closed on a positive note this week. The Price index gained 0.3% closing at 5,814 points while the Weighted index was up 0.9% closing at 405.6 points. Liquidity and activity levels increased during the week. Value traded expanded by 63%. During the week the market traded 573.4 mn shares with a value of KWD119.8mn.

Layla Al-Ammar Assistant Manager +965 2224 8000 ext. 1205 Humoud Salah N AL Sabah Assistant Analyst +965 2224 8530 Kuwait Financial Centre S.A.K. (“Markaz”) P.O. Box, 23444, Safat 13095 Ahmad Al-Jaber Street, Universal Tower Kuwait Fax: +965 2245 0647

Sector Performance The Banking index dominated value traded, 38.9% of this week‟s value was derived from activities on the Banking sector followed by Service sector and Real Estate with 27.6% and 12%, respectively. Zain Group attracted 17.4% of the value traded (KWD 20.8mn); the stock closed up 3.4% at KWD 0.900. Commercial Bank of Kuwait was second on the most active list with 17.3% of this week‟s value traded or KWD20.7mn. The stock‟s performance was positive, gaining 3.9% and closing at 790 fils. Loser, winners 146 companies were traded during the week out of which 53 closed positive, 65 were negative and 96 unchanged. First Takaful Insurance was the biggest gainer by booking a return of 78.7% (Prior to this week the company last traded on the 26th of July 2011) and closing at 134 fils; 40,000 shares were traded valued at KWD 5,160. On the other side of the spectrum, Portland Cement was the biggest loser; the stock declined by 12.3% to 710 fils. 2.9mn shares worth KWD 2.15mn were traded during this week Figure 1- Market performance

Kuwait Weekly Update


Figure 2- Sector Indicator

Kuwait Weekly Update


GAINERS First Takaful Insurance Kwt National RE (Al Aqaria) Alargan International RE Alsalam Group Holding Gulf Insurance

29-Dec 134.0 38.0 144.0 104.0 560.0

22-Dec 75.0 30.0 114.0 91.0 510.0

% chg 78.7% 26.7% 26.3% 14.3% 9.8%

LOSERS Portland Cement Warba Insurance Refrigeration Industries & W/H Gulf Investment House Al-Enma'a Real Estate

29-Dec 710.0 118 158 22 96

22-Dec 810 134 178 25 106

% chg -12.3% -11.9% -11.2% -10.2% -9.4%

No. of Companies listed in KSE No. of companies traded Gainers Losers No change Most Active Mobile Telecommunications Commercial Bank of Kuwait National Bank of Kuwait Burgan Bank Alsalam Group Holding Date Sun. 25 Dec Mon. 26 Dec Tue. 27 Dec Wed. 28 Dec Thu. 29 Dec KSE cap-wtd in week % YTD % KSE price-wtd in week % YTD % Volume traded Value traded

214 146 53 65 96 Value KD 20,860,800 20,732,750 10,919,500 6,426,300 4,799,000

Price 900 790 1,120 475 104 Price index 5,802.5 5,801.4 5,790.7 5,786.8 5,814.2 Current week 405.62 0.9% -16.2% 5,814.20 0.3% -16.4% 573,420,000 119,887,100

% chg 3.4% 3.9% 1.8% 2.2% 14.3% Value traded (KD) 25,205,130 19,978,170 21,185,570 22,281,150 31,237,080 Last week 401.90 -1.4% -17.0% 5,794.30 -0.5% -16.7% 601,947,500 73,226,210

Kuwait Weekly Update


Markaz Research Offerings Economics MENA Unrest (Apr-11) Kuwait Development Plan (Mar-11) Kuwait Investment Sector (Sept-10) The New Regulations on Kuwait Investment Sector (Jun-10) Kuwait Capital Market Law (Mar-10) The “Vicious Square” Monetary Policy options for Kuwait (Feb-08) To Leap or To Lag: Choices before GCC Regulators (Apr-07) GCC for Fundamentalists (Dec-06) GCC Leverage Risk (Nov-06)


Capital Markets


Power (2011) Airports (2011) Ports (2011) Water (2011) Roads & Railways (2011) ICT (2011)

MENA Real Estate MENA Market Outlook Kuwait Qatar Syria

KSA Egypt Algeria

Abu Dhabi Lebanon

Periodic Research Real Estate Strategic Research MENA Real Estate Perspectives Weekly Real Estate Market Commentary International Real Estate Market Outlook U.S.A. Banking

Stress Testing Kuwait Banks (May-11) GCC Banks - Done with Provisions? (Jan-10) Shelter in a Storm (Mar-09) Banking Sweet spots (Apr-08) Oil & Gas Diworsification: The GCC Oil Stranglehold (Jan-09) Monthly Regional Petroleum Projects Commentary Daily Oil & Gas Bulletin

Dubai Jordan

Strategic Research KSE 15 Index (Sept-11) How is the GCC preparing for a AA+ World? (Sept-11) GCC Outlook 2H11 (Aug-11) What to expect in 2011 (Jan-11) The Golden Portfolio (Sept-10) Persistence in Performance (Jun-10) What to expect in 2010 (Jan-10) What is left for 2009? (Sept-09) Missing the Rally (Jun-09) This Too Shall Pass (Jan-09) Fishing in Troubled Waters (Dec-08) Down and Out: Saudi Stock Outlook (Oct-08) Mr. GCC Market-Manic Depressive (Sept-08) Global Investment Themes (June-08) To Yield or Not To Yield (May-08) China and India: Too Much Too Fast (Oct-07) A Potential USD 140b Industry: Review of Asset Management Industry in Kuwait (Sep-07) A Gulf Emerging Portfolio: And Why Not? (Jun-07) Derivatives Market in GCC (Mar-07) Managing GCC Volatility (Feb-07) Periodic Research Annual GCC Market Outlook Quarterly Thought Speaks GCC Equity Funds GCC Corporate Earnings GCC Equity Research Statistics Monthly Market Review Weekly MENA Market Intelligence KSE Market Review International Market Update Daily Markaz Daily Morning Brief Markaz Kuwait Watch Daily Fixed Income Update Company Research (See the list attached)

Disclaimer 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 “. The 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 no representation or warranty, expressed or implied, is made that such information and data is accurate or complete, and therefore should not be relied upon as such. Opinions, estimates and projections in this report constitute the current judgment of the author as of the date of this report. They do not necessarily reflect the opinion of Markaz and are subject to change without notice. Markaz has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate, or if research on the subject company is withdrawn. This report may not consider the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. Investors are urged to seek financial advice regarding the appropriateness of investing in any securities or investment strategies discussed or recommended in this report and to understand that statements regarding future prospects may not be realized. Investors should note that income from such securities, if any, may fluctuate and that each security‟s price or value may rise or fall. Investors should be able and willing to accept a total or partial loss of their investment. Accordingly, investors may receive back less than originally invested. Past performance is not necessarily indicative of future performance. Kuwait Financial Centre S.A.K (Markaz) does and seeks to do business, including investment banking deals, with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. This report may provide the addresses of, or contain hyperlinks to, websites. Except to the extent to which the report refers to website material of Markaz, Markaz has not reviewed the linked site and takes no responsibility for the content contained therein. Such address or hyperlink (including addresses or hyperlinks to Markaz‟s own website material) is provided solely for your convenience and information and the content of the linked site does not in any way form part of this document. Accessing such website or following such link through this report or Markaz‟s website shall be at your own risk. For further information, please contact „Markaz‟ at P.O. Box 23444, Safat 13095, Kuwait; Email: ; Tel: 00965 1804800; Fax: 00965 22450647.

KSE Market Weekly Review 29122011  

KSE Market Weekly Review 29122011

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