Jan 30, 2017 - GCC Markets traded on a mixed note with KWSE being the top loser. Tadawul ended 0.7% lower; SABIC decreas
GCC Market Watch
January 30, 2017
GCC Market Watch
Regional Markets Today Country
Current
Bahrain (BAX)
1,304.1
0.1
6.9
Kuwait (KWSE)
6,839.1
(1.5)
19.0
Oman (MSI)
5,751.4
(0.2)
(0.5)
Qatar (DSMI)
10,747.8
(1.3)
3.0
S.Arabia (TASI)
7,132.4
(0.7)
(1.1)
UAE (DFM)
3,678.8
0.3
4.2
UAE (ADSM)
4,590.9
0.1
1.0
102.3
0.3
2.9
S&P GCC
%Chg 1D
%Chg YTD
Source: Bloomberg Note: S&P GCC index as of previous day
Regional market wrap-up GCC Markets traded on a mixed note with KWSE being the top loser. Tadawul ended 0.7% lower; SABIC decreased 0.8% and STC declined 1%. DFM increased 0.3% with Damac up 0.8% and Arabtec 3% higher. ADX was marginally in green (+0.1%); ADCB gained 1% and Etisalat increased 0.6%. DSM ended (1.3%) with all sectors in red; Ooredoo (-2.6%) and QNB (-1.4%). KWSE was in red (-1.5%) with NBK down 1.3% and KFH 1.6% lower. MSM closed 0.2% lower led by Bank Muscat (-0.4%) and HSBC Oman (-2.4%). BHB was 0.1% higher as Batelco gained 0.7% and Ithmaar rose 2.1%.
CDS-5years Dubai
Bahrain
AbuDhabi Qatar KSA
Current
140
249
58
83 112
Previous day
140
245
58
83 112
Week ago
142
270
60
85 113
Month ago
150
303
61
80 113
Year ago
261
374
124
128 177
For 4Q16 Results Monitor. Refer to Page 10.
In the news…
Waha Capital reported a 31% YoY decline in 2016 net profits. The company has not published its detailed results. Waha Capital's financial investments increased by 27% YoY, while total assets increased by 4.2% YoY. Total cash balances have declined by 50% YoY bringing the bank's liquid assets (cash/total assets) ratio to 6%. Total EPS as at end of 2016 stood at AED 0.22 compared to AED 0.31 end of 2015. Source: Company Announcement
Aramex has reported 4Q16 earnings of AED 132mn, up 129% YoY and 83% QoQ. The earnings are higher than our estimate of AED 76mn and consensus median of AED 86mn. The earnings beat comes despite revenues (AED 1,140mn) being largely in line with our projections (AED 1,110mn). On a segment wise basis, International Express continued to deliver solid growth with revenues up 30% YoY, Domestic Express revenues were up 30% YoY (driven by Fastway acquisition with results consolidated from 1Q16) while Freight Forwarding segment continues to struggle with revenues down 9% YoY. Source: Company Announcement
Agthia reported 4Q16 profit of AED 54.1mn (+4% YoY) beating our estimate of SAR 49.6mn. Sales came in at SAR 489mn (flat YoY), in line with our estimate of SAR 495mn. Net profit for the year increased by 10% YoY and sales for the year is up by 8% YoY. Source: Company Announcement
Source: Bloomberg as of LTD
International Indices
GCC- Equities
Country
Current
%Chg 1D
%Chg YTD
DJIA
20,093.8
(0.0)
1.7
S&P
2,294.7
(0.1)
2.5
NASDAQ
5,660.8
0.1
5.2
FTSE
7,129.7
(0.8)
(0.2)
DAX
11,723.8
(0.8)
2.1
NIKKEI
19,368.9
(0.5)
1.3
915.9
(0.1)
6.2
MSCI EM
Source: Bloomberg @Jan-30 03:18 PM
Oil Price Trend
Aug-16
Dec-16
Apr-16
Dec-15
Apr-15
Aug-15
Dec-14
Apr-14
Aug-14
Aug-13
Apr-13
Dec-13
Brent Future Contract
140 120 100 80 60 40 20
SICO Research
Commodity and Currency Monitor Current
%Chg 1D
%Chg YTD
OPEC Basket
52.88
(0.1)
(0.8)
Brent Future
55.59
0.1
(2.2)
Nymex 1M Fut
53.34
0.3
(0.7)
Gold Spot
1,190.7
0.2
3.3
USD / Yen
114.72
0.4
(1.6)
Euro / USD
1.0632
(0.5)
0.8
Source: Bloomberg @Jan-30 03:18 PM
Raneem Seroor +973 -17515000 (extn - 5096)
[email protected]
GCC Market Statistics Country
Mcap
Vol
Turnover
Trades
$ bn
mn shr
$ mn
VWAP
15A
16E
15A
15A
15A
Saudi
439.5
244.4
1,167.2
98,075
15.2
14.9
1.6
4.1
11.4
UAE
208.6
664.1
282.3
6,008
12.4
12.2
1.5
4.5
12.0
90.6
662.7
219.9
11,106
17.1
16.4
1.3
3.5
7.7
156.2
6.2
50.3
3,054
13.3
13.7
1.7
3.6
12.1
Bahrain
20.0
9.7
3.2
88
11.8
10.7
0.8
4.0
7.4
Oman
21.8
11
8
494
11.3
8.9
1.1
5.4
10.8
GCC
937
1598
1,731
118,825
12.8
13.1
1.6
4.0
10.7
Kuwait Qatar
Source: SICO Research, Bloomberg, Reuters, Zawya
© SICO 2017 All Rights Reserved Attention is drawn to the disclaimer and other information in the end
P/E (x)
P/B(x) D/Yld(%) ROE(%)
SICO RESEARCH
GCC MARKET WATCH
GCC Market Cap Heavyweights Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2015--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2015
2015
2015
2016E
SABIC (KSA)
96.110
3,590
76.9
-0.8
5.0
98.500
63.250
5.6
11.6
5.7
1.8
15.4
16.0
Etisalat (UAE)
18.250
824
43.2
0.6
-2.9
20.200
15.850
6.4
15.8
4.4
3.6
19.2
18.7
165.200
80
38.1
-1.4
1.4
173.000
133.500
2.2
19.1
1.8
2.3
12.3
10.6
STC (KSA)
67.720
398
36.1
-1.0
-6.7
74.000
51.000
9.9
15.3
5.9
2.2
14.6
16.0
Al Rajhi (KSA)
66.800
2,073
28.9
0.5
5.9
67.500
48.600
2.3
16.1
2.2
2.3
15.2
13.3
Saudi Electric (KSA)
22.030
1,411
24.5
-2.1
-2.4
23.950
13.800
0.5
2.6
3.2
1.5
59.5
16.7
QNB (Qatar)
NCB Inds Qatar (Qatar) NBK (Kuw) Samba (KSA)
43.480
301
23.2
-1.3
2.0
46.300
32.000
2.1
18.3
3.6
1.6
9.6
9.6
117.500
135
19.5
-0.9
0.0
122.000
94.500
12.3
13.2
4.3
2.1
16.0
19.4
0.740
2,126
13.6
-1.3
13.8
0.750
0.550
1.2
10.0
3.8
1.4
13.9
14.2
22.700
450
12.1
-0.5
-6.8
25.200
15.900
2.3
13.2
4.0
1.1
8.7
8.5
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
GCC Telecom and Transportation Universe Company Etisalat (UAE) STC (KSA)
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
High
Low
ROA
ROE
DivYld
PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2015
2015
2015
2016E
20.200
15.850
6.4
15.8
4.4
3.6
19.2
18.7
18.250
824
43.2
0.6
-2.9
---52 Week---
---2015---
------------Valuation---------
67.720
398
36.1
-1.0
-6.7
74.000
51.000
9.9
15.3
5.9
2.2
14.6
16.0
106.200
74
9.3
-2.6
4.3
110.000
78.600
2.2
8.1
2.8
1.6
16.1
15.4
DU (UAE)
6.020
60
7.5
-0.7
-2.9
6.990
5.190
10.8
24.8
7.1
3.5
14.2
15.3
ZAIN (Kuw)
0.500
16,360
6.8
-2.0
22.0
0.520
0.320
4.6
9.2
6.0
1.3
12.6
11.4
22.330
647
4.6
-1.2
-6.9
32.200
16.400
-2.4
(6.2)
NA
1.1
NA
171.9
Omantel (Oman)
1.430
210
2.8
0.0
-5.6
1.685
1.400
6.0
8.7
8.0
2.0
22.1
8.7
NMTC (Ooredoo)
1.220
9
2.1
1.7
1.7
1.320
1.000
1.8
3.5
8.2
0.9
23.1
13.7
Ooredoo (Qatar)
Etihad Etisalat (KSA)
Batelco (Bah)
0.282
87
1.2
0.7
-1.4
0.312
0.274
5.0
9.3
8.9
0.9
9.5
10.9
19.090
526
15.8
-0.6
9.0
20.000
15.530
4.6
10.2
1.6
1.8
17.9
17.9
Agility (Kuw)
0.740
3,453
3.1
-1.3
19.4
0.770
0.420
3.7
5.9
3.8
1.0
16.8
17.5
Air Arabia (UAE)
1.410
17,368
1.8
0.0
6.0
1.490
1.170
4.7
10.2
6.4
1.3
12.9
10.7
Aramex (UAE)
4.500
10,153
1.8
9.0
10.6
4.550
2.800
9.4
14.3
3.3
3.0
21.2
17.7
DP World (UAE)
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
GCC Banking Large Caps Company QNB (Qatar)
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2015--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2015
2015
2015
2016E
165.200
80
38.1
-1.4
1.4
173.000
133.500
2.2
19.1
1.8
2.3
12.3
10.6
Al Rajhi (KSA)
66.800
2,073
28.9
0.5
5.9
67.500
48.600
2.3
16.1
2.2
2.3
15.2
13.3
NCB
43.480
301
23.2
-1.3
2.0
46.300
32.000
2.1
18.3
3.6
1.6
9.6
9.6
First Gulf Bk (UAE)
13.050
725
16.0
-0.4
1.6
13.500
10.500
2.7
17.8
7.7
1.8
9.9
9.8
NBAD (UAE)
10.400
914
14.8
0.0
4.1
10.800
7.500
1.3
13.5
3.8
1.5
10.8
10.7
NBK (Kuw)
0.740
2,126
13.6
-1.3
13.8
0.750
0.550
1.2
10.0
3.8
1.4
13.9
14.2
ENBD (UAE)
8.590
78
13.0
-0.1
1.2
9.000
7.100
1.7
14.8
4.7
1.2
7.3
6.6
Samba (KSA)
22.700
450
12.1
-0.5
-6.8
25.200
15.900
2.3
13.2
4.0
1.1
8.7
8.5
0.620
3,920
11.3
-1.6
14.8
0.630
0.427
0.9
7.5
2.5
1.8
22.3
20.8
Saudi British (KSA)
22.850
181
9.1
-0.7
-8.6
25.900
16.400
2.3
16.0
3.6
1.2
7.9
8.3
Riyad Bk (KSA)
11.090
480
8.9
-1.0
-4.0
11.800
8.550
1.8
11.2
6.3
0.9
8.2
8.6
Masraf AlRayan (Qatar)
40.500
342
8.3
-1.3
7.7
43.350
32.100
2.5
5.1
4.3
2.5
14.7
14.7
KFH (Kuw)
Saudi Fransi (KSA) QISB (Qatar) Arab Nat Bk (KSA) AUB (Bah) CBQ (Qatar)
25.590
111
8.2
-0.9
-1.7
27.800
18.000
2.2
15.0
4.5
1.1
7.6
7.5
107.300
31
7.0
-1.3
3.3
117.000
86.200
1.8
15.1
4.0
1.9
13.0
11.9
20.800
95
5.5
0.0
-5.8
22.500
14.250
1.8
13.9
4.8
1.0
7.0
7.1
0.740
-
5.0
0.0
15.6
0.755
0.600
1.6
15.2
5.8
1.4
9.6
8.7
34.300
706
3.1
-0.9
5.5
45.241
30.200
1.2
8.1
8.7
0.6
7.9
19.7
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
2
SICO RESEARCH
GCC MARKET WATCH
GCC Oil, Gas & Petroleum Universe Company SABIC (KSA)
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2015--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2015
2015
2015
2016E
96.110
3,590
76.9
-0.8
5.0
98.500
63.250
5.6
11.6
5.7
1.8
15.4
16.0
117.500
135
19.5
-0.9
0.0
122.000
94.500
12.3
13.2
4.3
2.1
16.0
19.4
Yansab (KSA)
58.940
79
8.8
0.0
9.1
59.750
26.500
5.6
7.8
3.4
2.2
27.5
15.0
Safco (KSA)
73.070
108
8.1
-0.7
-2.1
82.000
58.000
23.8
27.6
8.2
4.0
14.3
30.0
Nakilat (Qatar)
24.250
101
3.7
-1.6
5.0
25.200
20.500
3.2
23.9
5.1
3.1
13.8
13.6
Kayan (KSA)
8.560
8,078
3.4
-1.6
-3.2
9.450
4.500
-2.8
(9.3)
NA
1.0
NA
63.9
Tasnee (KSA)
16.070
553
2.9
-1.7
-8.0
18.250
7.900
-3.1
(14.5)
NA
1.3
NA
36.3
Petrorabigh (Saudi)
12.100
1,254
2.8
-1.5
2.9
13.500
8.100
-1.6
(8.5)
4.1
1.3
NA
NA
Sipchem (KSA)
18.870
304
1.8
0.4
-0.2
19.750
10.250
1.7
4.9
3.2
1.2
24.0
93.5
Sahara Petro (KSA)
15.600
1,650
1.8
-0.8
5.8
15.900
7.400
0.5
0.8
3.2
1.2
158.5
21.6
0.560
2,801
1.1
0.0
3.7
0.610
0.420
3.9
5.2
NA
0.4
7.3
19.5
Inds Qatar (Qatar)
Dana Gas (UAE)
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
GCC Real Estate, Construction & Materials Universe Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2015--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2015
2015
2015
2016E
Emaar (UAE)
7.510
9,743
14.6
-0.5
5.3
7.790
4.970
5.3
11.1
2.0
1.4
13.2
10.9
Ezdan (Qatar)
15.320
942
11.2
-1.2
1.4
20.240
13.500
3.7
5.5
3.3
1.4
24.5
24.0
Aldar Properties (UAE)
2.580
3,759
5.5
-0.8
-1.9
2.990
2.190
6.8
13.2
3.9
1.0
8.0
7.7
Damac (UAE)
2.670
7,413
4.4
0.8
5.5
2.880
1.910
21.4
59.8
3.4
1.6
NA
NA
Southern Cem (KSA)
72.450
30
2.7
-1.9
-12.0
83.500
52.500
25.1
33.6
8.3
3.1
9.8
10.5
Saudi Cem (KSA)
62.750
86
2.6
-1.2
-11.9
71.750
47.000
20.9
29.1
9.6
2.9
10.2
10.7
United Devt (Qatar)
22.550
68
2.2
-0.2
9.2
22.940
17.860
3.6
6.4
6.7
0.7
11.6
12.5
Arabtec Hold. (UAE)
1.370
37,684
1.7
3.0
4.6
1.870
1.040
-17.2
(50.3)
NA
1.9
NA
NA
Dar Al Arkan (KSA)
5.950
44,560
1.7
-3.9
-3.4
7.400
4.300
1.4
2.0
NA
0.4
17.9
17.4
Taiba (KSA)
39.290
38
1.6
-0.6
-2.2
41.400
30.400
9.1
11.1
5.1
1.5
13.5
13.5
Qat Natl Cem (Qatar)
90.700
17
1.5
-1.4
5.5
93.000
80.000
14.7
17.0
4.0
1.9
11.6
11.2
0.450
300
1.1
0.0
9.8
0.455
0.360
6.4
10.2
4.3
1.8
17.1
17.1
20.180
368
1.1
-1.9
-11.7
30.400
15.550
15.9
17.3
14.9
1.1
6.4
7.8
0.630
7,390
1.0
0.0
1.9
0.707
0.431
4.7
6.4
NA
0.8
12.5
24.3
Saudi Real Est (KSA)
24.600
110
0.8
-1.4
-7.6
28.000
14.800
2.9
4.3
4.1
0.9
20.0
16.0
Raysut Cem (Oman)
1.440
22
0.7
0.0
-2.7
1.625
0.900
10.3
14.4
3.5
1.9
13.7
12.2
Drake & Scull (UAE)
0.536
34,992
0.3
1.5
11.7
0.640
0.319
-9.9
(31.5)
NA
0.6
NA
NA
Nass Corp (Bah)
0.145
-
0.1
0.0
20.8
0.149
0.088
2.6
4.8
3.4
0.6
12.0
6.4
Kuwait Cem (Kuw) Yamamah Cem (KSA) Deyaar (UAE)
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
GCC Consumer Universe Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2015--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2015
2015
2015
2016E
Almarai (KSA)
69.860
328
14.9
0.1
2.0
70.000
46.125
7.5
16.7
1.2
4.6
29.2
27.3
Savola (KSA)
37.510
246
5.3
-2.2
-6.5
44.900
27.800
6.7
17.5
5.3
1.9
11.2
11.1
2.620
977
3.7
0.0
0.8
2.640
1.860
6.4
11.5
3.7
2.9
24.0
23.9
127.500
66
3.1
-0.4
10.4
141.000
81.000
34.0
57.9
6.0
7.6
13.9
15.7
Kt. Foods (Kuw) Jarir (KSA) AlHokair (KSA)
31.890
242
1.8
-1.6
-13.3
54.500
20.200
41.4
114.1
7.1
2.6
2.3
12.2
Othaim (KSA)
103.540
25
1.2
-0.9
4.8
110.000
63.000
0.0
28.5
1.9
4.2
20.2
19.0
Agthia (UAE)
6.900
130
1.1
0.9
-2.8
7.900
5.360
10.1
15.8
1.8
2.7
17.9
16.4
116.300
106
1.0
1.1
-6.6
161.750
111.000
NA
27.0
3.0
3.7
14.5
16.0
22.810
613
0.5
0.4
-4.8
25.000
15.227
3.9
10.8
2.0
1.4
13.7
16.4
0.780
-
0.3
0.0
11.4
0.780
0.408
16.6
21.3
3.5
2.0
9.6
9.6
Sadafco (KSA) Nadec (KSA) Oman Flour (Oman)
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
3
SICO RESEARCH
GCC MARKET WATCH
Bahrain
BHB was 0.1% higher as Batelco gained 0.7% and Ithmaar rose 2.1%. KHCB was up 2.4%, while BBK decreased 0.5%. The most traded stock today was Ithmaar Bank with 6mn traded shares.
Bahrain Markets Turnover USD mn RHS
1,320
BSE index
5.00 4.50 4.00 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00
1,300 1,280 1,260 1,240
1,220 1,200 1,180
30-Jan
29-Jan
26-Jan
25-Jan
24-Jan
23-Jan
22-Jan
19-Jan
18-Jan
17-Jan
16-Jan
15-Jan
1,160
Bahrain Markets Vol 000 - RHS
140
Trades (VWAP)
12,000
120
Top Gainers Company
Last Pr BD 0.13 0.25 0.28 N/A N/A
10,000
100
8,000
80
6,000
60
4,000
40
Top Losers Company
30-Jan
29-Jan
26-Jan
25-Jan
24-Jan
23-Jan
22-Jan
19-Jan
18-Jan
17-Jan
-
16-Jan
2,000
-
15-Jan
20
Last Pr BD 0.38 N/A N/A N/A N/A
BBK N/A N/A N/A N/A
BAHRAIN Index (Intraday)
12:40 PM
12:20 PM
12:00 PM
11:40 AM
11:20 AM
11:00 AM
10:40 AM
10:20 AM
10:00 AM
9:40 AM
Top Movers Company
9:20 AM
1,306 1,306 1,305 1,305 1,304 1,304 1,303 1,303 1,302 1,302 1,301 1,301
Khaleeji Comm Bk Ithmaar Bank $ Batelco N/A N/A
Last Pr BD 0.245 0.13 0.27 0.65 0.50
Ithmaar Bank $ Khaleeji Comm Bk ALBA Bah Comm Fac Al Baraka $
---Change--BD 0.00 0.01 0.00 N/A N/A
% 2.4 2.1 0.7 N/A N/A
Vol '000 2,984 6,022 87 N/A N/A
---Change--BD % (0.00) (0.5) N/A N/A N/A N/A N/A N/A N/A N/A
Vol '000 105 N/A N/A N/A N/A
---Change--BD 0.01 0.00 -
% 2.1 2.4 -
Vol '000 6,022 2,984 204 185 118
Bahrain - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2015--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2015
2015
2015
2016E
AUB $ **
0.740
-
5.0
0.0
15.6
0.755
0.600
1.6
15.2
5.8
1.4
9.6
8.7
NBB
0.710
-
2.0
0.0
-1.4
0.740
0.575
1.9
14.9
3.5
2.1
13.5
12.4
GFH $
0.695
-
1.6
0.0
36.3
0.695
0.150
-0.3
(0.3)
NA
1.0
NA
NA
Batelco
0.282
87
1.2
0.7
-1.4
0.312
0.274
5.0
9.3
8.9
0.9
9.5
10.9
ABC $
0.360
-
1.1
0.0
-2.7
0.515
0.310
0.6
4.6
NA
0.3
6.2
6.2
BBK
0.380
105
1.1
-0.5
-5.0
0.400
0.310
1.5
14.8
6.5
1.1
7.7
7.7
ALBA
0.268
204
1.0
0.0
-16.3
0.370
0.260
5.1
6.4
4.1
0.4
6.3
8.4
UGB
0.362
-
0.8
0.0
3.4
0.388
0.300
0.4
2.6
NA
2.0
71.4
68.0
Ithmaar Bank $
0.245
6,022
0.7
2.1
96.0
0.255
0.095
-0.8
(13.0)
NA
1.8
-
-
Al Salam
0.114
-
0.6
0.0
-3.4
0.120
0.081
0.7
3.9
4.4
0.8
19.8
14.1
Al Baraka
0.500
118
0.6
0.0
2.0
0.553
0.370
0.7
12.1
5.7
0.4
3.5
3.7
Bah Islamic Bk
0.127
-
0.3
0.0
3.3
0.131
0.082
1.3
2.8
NA
0.2
11.5
24.3
BCFC
0.645
185
0.3
0.0
-3.7
0.755
0.645
6.4
16.4
6.9
0.9
6.1
5.4
Seef Properties
0.210
-
0.3
0.0
-2.8
0.220
0.178
7.1
7.4
5.7
0.7
9.8
10.0
Zain Bahrain
0.095
-
0.1
0.0
-5.0
0.17
0.10
4.5
8.4
5.3
0.6
6.8
8.5
Esterad
0.150
-
0.1
0.0
-11.2
0.193
0.140
2.3
3.0
6.6
0.6
18.5
18.5
Source: SICO Research, Bloomberg, Reuters (** PER based on diluted capital), Data as of LTD.
4
SICO RESEARCH
GCC MARKET WATCH
Kuwait
Kuwait Markets Turnover USD mn RHS
7,000
KSE Index
350,000 300,000
6,800
250,000
6,600
KWSE was in red (-1.5%) with NBK down 1.3% and KFH 1.6% lower. ZAIN fell 2% and Viva Kuwait was 2.2% lower. Burgan Bank declined 1.5% and Gulf Bank decreased 1.8%. AUB Kuwait was down 0.9% and Agility ended 1.3% lower. Ooredoo gained 1.7%.
200,000 6,400 150,000 6,200
100,000
30-Jan
29-Jan
26-Jan
25-Jan
24-Jan
23-Jan
22-Jan
19-Jan
18-Jan
17-Jan
-
16-Jan
50,000
5,800
15-Jan
6,000
Kuwait Markets Vol 000 - LHS
1,200,000
Trades (VWAP)
16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 -
1,000,000 800,000 600,000 400,000 200,000
30-Jan
29-Jan
26-Jan
25-Jan
24-Jan
23-Jan
22-Jan
19-Jan
18-Jan
16-Jan
17-Jan
15-Jan
-
Hilal Cement Co Metal &Recycling Kuwait Foundry Alrai Media Top Losers Company Ekttitab Hldg Co Arab Real Est Co Yiaco Medical Co Al Mudon Intl Real Est Securities House
KUWAIT Index (Intraday) 7,000 6,950
Top Movers Company
6,900
Ithmaar Bank Abyaar Real Est Al-Mal Inv Co Aayan Leasing Kwt Syrian Hldg
6,850
12:25 PM
12:05 PM
11:45 AM
11:25 AM
11:05 AM
10:45 AM
10:25 AM
10:05 AM
9:45 AM
9:25 AM
9:05 AM
8:45 AM
6,800
6,750
Top Gainers Company
Last Pr KWD 0.130 0.075 0.310 0.164
---Change--KWD 0.010 0.005 0.020 0.010
% 8.3 7.1 6.9 6.5
Vol '000 38 64 1,377 1,680
Last Pr KWD 0.050 0.052 0.270 0.057 0.061
---Change--KWD (0.005) (0.005) (0.025) (0.005) (0.005)
% (9.1) (8.8) (8.5) (8.1) (7.6)
Vol '000 7,927 8,300 36 7,922 15,458
Last Pr KWD 0.073 0.039 0.029 0.053 0.057
---Change--KWD (0.01) (0.00) (0.00) (0.00) -
% (6.4) (1.3) (6.5) (7.0) -
Vol '000 39,158 38,132 35,068 34,867 24,647
Kuwait - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2015--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2015
2015
2015
2016E
NBK
0.740
2,126
13.6
-1.3
13.8
0.750
0.550
1.2
10.0
3.8
1.4
13.9
14.2
KFH
0.620
3,920
11.3
-1.6
14.8
0.630
0.427
0.9
7.5
2.5
1.8
22.3
20.8
ZAIN
0.500
16,360
6.8
-2.0
22.0
0.520
0.320
4.6
9.2
6.0
1.3
12.6
11.4
AUB Kuwait
0.228
385
5.4
-0.9
17.5
0.236
0.180
1.6
15.2
5.8
1.4
9.6
8.7
Kt. Food (Americana)
2.620
977
3.7
0.0
0.8
2.640
1.860
6.4
11.5
3.7
2.9
24.0
23.9
Agility (PWC)
0.740
3,453
3.1
-1.3
19.4
0.770
0.420
3.7
5.9
3.8
1.0
16.8
17.5
Boubyan Bank
0.410
481
3.1
0.0
3.8
0.420
0.362
1.2
11.4
1.2
2.8
25.2
25.2
Kuwait Inv Pro Co
0.560
1,856
2.9
-1.8
12.0
0.580
0.495
0.6
5.5
4.1
1.3
15.6
15.6
Gulf Bank
0.270
2,248
2.9
-1.8
12.5
0.295
0.202
0.7
7.4
0.1
1.5
21.1
20.1
Mabanee
0.900
163
2.7
0.0
5.9
0.910
0.740
8.5
17.1
1.1
2.5
15.8
16.2
Burgan Bank
0.335
2,091
2.4
-1.5
9.8
0.355
0.295
1.0
9.6
5.3
1.1
9.0
8.8
ooredoo
1.220
9
2.1
1.7
1.7
1.320
1.000
1.8
3.5
8.2
0.9
23.1
13.7
CBK
0.410
-
2.0
0.0
0.0
0.500
0.295
1.1
8.2
3.2
1.0
12.5
16.5
Al Ahli Bank
0.325
223
1.8
0.0
8.3
0.365
0.290
0.8
5.5
3.1
0.9
17.3
19.5
Viva Kuwait
0.880
95
1.5
-2.2
-5.4
1.060
0.820
15.9
NM
NA
4.7
11.6
11.3
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
5
SICO RESEARCH
GCC MARKET WATCH
Oman Oman Markets
30-Jan
18.0 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0
29-Jan
26-Jan
25-Jan
24-Jan
MSM index
23-Jan
22-Jan
19-Jan
17-Jan
16-Jan
15-Jan
18-Jan
Turnover USD mn RHS
5,780 5,770 5,760 5,750 5,740 5,730 5,720 5,710 5,700 5,690
MSM closed 0.2% lower led by Bank Muscat (-0.4%) and HSBC Oman (-2.4%). Ooredoo Oman declined 0.6% and Galfar was 1.2% lower. Bank Nizwa declined 1.1%, while Bank Dhofar gained 0.4% and Ahli Bank Oman was up 1%.
Oman Markets
30-Jan
1,000 900 800 700 600 500 400 300 200 100 -
29-Jan
26-Jan
25-Jan
24-Jan
Trades (VWAP)
23-Jan
22-Jan
19-Jan
17-Jan
16-Jan
15-Jan
18-Jan
Vol 000 - LHS
35,000 30,000 25,000 20,000 15,000 10,000 5,000 -
Top Gainers Company Om Untd Insu Ahli Bank ACWA Barka AL BATINAH POWER Bank Dhofar Top Losers Company Const Materials Om & Em Inv Em Batna Dev. Inv. HSBC Oman Om Natl Eng Inv
Oman Index (Intraday) 5,765 5,760
5,755
Top Movers Company
5,750
Glf Inv Serv Bank Muscat Al Madina Takaful Insurance Om Fisheries Co HSBC Oman
5,745
12:05 PM
11:45 AM
11:25 AM
11:05 AM
10:45 AM
10:25 AM
10:05 AM
9:45 AM
9:25 AM
9:05 AM
5,735
8:45 AM
5,740
Last Pr OMR 0.37 0.19 0.72 0.19 0.26
---Change--OMR % 0.00 1.1 0.00 1.0 0.00 0.6 0.00 0.5 0.00 0.4
Vol '000 45 229 31 53 50
Last Pr OMR 0.04 0.14 0.10 0.12 0.16
---Change--OMR % (0.002) (5.3) (0.006) (4.1) (0.003) (3.1) (0.003) (2.4) (0.003) (1.8)
Vol '000 300 223 81 629 10
Last Pr OMR 0.12 0.46 0.09 0.10 0.12
---Change--OMR % (0.00) (0.4) (0.00) (1.1) (0.00) (2.4)
Vol '000 980 949 869 790 629
Oman - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2015--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2015
2015
2015
2016E
Bank Muscat
0.464
949
2.9
-0.4
-1.7
0.488
0.366
1.6
13.0
5.1
0.8
6.4
6.2
Omantel
1.430
210
2.8
0.0
-5.6
1.685
1.400
6.0
8.7
8.0
2.0
22.1
8.7
Bank Dhofar
0.256
50
1.1
0.4
11.3
0.270
0.205
1.4
13.6
5.3
1.2
9.3
8.4
Ooredoo Oman
0.620
182
1.0
-0.6
-6.1
0.772
0.598
0.0
20.1
6.5
1.9
9.7
8.6
NBO
0.242
89
0.9
0.0
2.1
0.272
0.218
1.9
15.8
6.4
0.9
5.9
6.4
OMINVEST
0.516
-
0.9
0.0
0.8
0.570
0.391
1.1
10.0
1.7
1.5
14.3
14.3
Raysut Cement
1.440
22
0.7
0.0
-2.7
1.625
0.900
10.3
14.4
3.5
1.9
13.7
12.2
Ahli Bank Oman
0.194
229
0.7
1.0
-1.0
0.200
0.168
1.6
13.0
5.2
1.2
10.0
9.9
Bank Sohar
0.159
196
0.7
0.0
-0.6
0.192
0.137
1.3
12.5
5.1
1.0
9.1
8.0
HSBC Oman
0.122
629
0.6
-2.4
1.7
0.133
0.094
0.6
4.2
3.2
0.8
18.9
15.3
Shell Oman Mktg
2.000
-
0.5
0.0
0.0
2.000
1.850
17.5
39.0
5.6
4.9
13.4
13.6
Oman Cement
0.486
84
0.4
0.0
2.5
0.500
0.426
6.0
7.3
6.2
1.0
13.7
12.9
Bank Nizwa
0.086
383
0.3
-1.1
3.6
0.090
0.065
NA
NA
NA
NA
NA
NA
Salalah Port Ser
0.632
-
0.3
0.0
0.0
0.648
0.616
NA
NA
NA
NA
NA
NA
Renaissance
0.215
125
0.2
0.0
-10.4
0.338
0.123
-4.7
(16.3)
4.4
0.3
NA
NA
Galfar
0.085
153
0.1
-1.2
-9.6
0.121
0.053
-5.3
(30.6)
NA
0.3
NA
NA
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
6
SICO RESEARCH
GCC MARKET WATCH
Qatar
DSM ended (-1.3%) with all sectors in red; Ooredoo (2.6%) and QNB (-1.4%). IQ closed 0.9% lower and Qatar Electricity & Water fell 1.2%. Barwa Real Estate declined 1.4% and Ezdan Real Estate ended (-1.2%). Doha Bank fell 2.1% and CBQ went down 0.9%. Al Rayan and QIB decreased 1.3% each. Nationals were net buyers.
Qatar Markets Turnover USD mn RHS
11,100 11,050 11,000 10,950 10,900 10,850 10,800 10,750 10,700 10,650 10,600 10,550
DSM index
140 120 100
80 60 40 20
30-Jan
29-Jan
26-Jan
25-Jan
24-Jan
23-Jan
22-Jan
19-Jan
18-Jan
17-Jan
16-Jan
15-Jan
-
Qatar Markets Vol 000 - LHS
24,000
Trades (VWAP)
6,000
16,000
4,000
8,000
2,000
30-Jan
29-Jan
26-Jan
25-Jan
24-Jan
23-Jan
22-Jan
19-Jan
18-Jan
17-Jan
16-Jan
Dlala Brokerage Qatar Navigation Mazaya Qatar Qatar Fuel Co Qa Meat&Livestk
Qatar Ins Co Ooredoo Qa Gen Ins Reins Al Meera Cons Goods Doha Bk Ltd
Qatar Index (Intraday) 10,950 10,900
10,850
Top Movers Company
10,800
Vodafone Qatar Ezdan Real Est Qa Comm Bk Barwa Real Est Masraf Al Rayan
10,750
1:00 PM
12:40 PM
12:20 PM
12:00 PM
11:40 AM
11:20 AM
11:00 AM
10:40 AM
10:20 AM
10:00 AM
9:40 AM
9:20 AM
9:00 AM
10,700 10,650
Last Pr QAR 22.39 94.00 14.57 162.80 69.80
Top Losers Company
-
15-Jan
-
Top Gainers Company
---Change--QAR 0.27 0.50 0.07 0.70 0.20
% 1.2 0.5 0.5 0.4 0.3
Vol '000 1 5 238 41 13
Last Pr QAR 84.70 106.20 40.60 179.50 37.40
---Change--QAR % (2.70) (3.1) (2.80) (2.6) (0.90) (2.2) (3.90) (2.1) (0.80) (2.1)
Vol '000 80 74 2 5 81
Last Pr QAR 9.49 15.32 34.30 35.30 40.50
---Change--QAR % (0.02) (0.2) (0.18) (1.2) (0.30) (0.9) (0.50) (1.4) (0.55) (1.3)
Vol '000 2,134 942 706 559 342
Qatar - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
LCY
('000)
bn
%
%
LCY
LCY
---2015---
Low ROA
------------Valuation---------
ROE
DivYld
PBV
PER
PER*
%
%
2015
2015
2015
2016E
QNB
165.20
80
38.1
-1.4
1.4
173.000
133.500
2.2
19.1
1.8
2.3
12.3
10.6
Industries Qatar
117.50
135
19.5
-0.9
0.0
122.000
94.500
12.3
13.2
4.3
2.1
16.0
19.4
15.32
942
11.2
-1.2
1.4
20.240
13.500
3.7
5.5
3.3
1.4
24.5
24.0
Ooredoo
106.20
74
9.3
-2.6
4.3
110.000
78.600
2.2
8.1
2.8
1.6
16.1
15.4
Al Rayan
40.50
342
8.3
-1.3
7.7
43.350
32.100
2.5
5.1
4.3
2.5
14.7
14.7
Q. Elec.& Water
235.10
18
7.1
-1.2
3.6
247.900
185.000
11.4
21.2
3.2
3.5
17.2
15.4
Qatar Islamic Bk
107.30
31
7.0
-1.3
3.3
117.000
86.200
1.8
15.1
4.0
1.9
13.0
11.9
Qatar Insurance
84.70
80
5.7
-3.1
-0.1
91.700
68.762
5.2
18.1
2.2
3.6
19.8
20.6
162.80
41
4.1
0.4
12.0
165.000
120.370
12.5
18.3
5.1
2.1
11.9
14.3
Barwa Real Estate
35.30
559
3.8
-1.4
6.2
38.900
29.000
10.7
18.3
6.2
0.8
4.5
7.2
Qatar Gas (Nakilat)
24.25
101
3.7
-1.6
5.0
25.200
20.500
3.2
23.9
5.1
3.1
13.8
13.6
CBQ
34.30
706
3.1
-0.9
5.5
45.241
30.200
1.2
8.1
8.7
0.6
7.9
19.7
Qatar Navigation
94.00
5
3.0
0.5
-1.7
98.000
83.400
5.4
8.1
5.3
0.8
9.8
10.6
Qatar Intl.Islamic Bk
68.40
114
2.8
-0.6
8.9
73.300
58.100
2.0
14.4
5.8
1.9
13.2
11.7
Doha Bank
37.40
81
2.7
-2.1
7.2
42.500
32.900
1.7
11.2
8.0
0.7
7.0
7.9
Al Khaliji Bank
16.51
0
1.6
-0.5
-2.9
18.490
15.710
1.2
10.6
6.1
1.0
9.5
11.4
Ezdan Real Estate
Qatar Fuel
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
7
SICO RESEARCH
GCC MARKET WATCH
Saudi Arabia
Tadawul ended 0.7% lower; SABIC decreased 0.8% and STC declined 1%. NCB was down 1.3% and SABB was 0.7% lower. Riyad Bank fell 1% and BSF ended 0.9% lower. Savola dropped 2.2%. Mobily ended 1.2% lower and ZAIN KSA closed 2.9% lower. Al Rajhi Bank gained 0.5% today.
Saudi Markets Turnover USD mn RHS
7,300
TASI
1,600 1,400 1,200 1,000 800 600 400 200 -
7,200 7,100
7,000 6,900 6,800 6,700
30-Jan
29-Jan
26-Jan
25-Jan
24-Jan
23-Jan
22-Jan
19-Jan
18-Jan
17-Jan
16-Jan
15-Jan
6,600
Saudi Markets Vol 000 - LHS
350,000 300,000 250,000 200,000 150,000 100,000 50,000 -
Trades (VWAP)
120,000
100,000 80,000
60,000 40,000
20,000
Alsorayai Group Sa Indust Dev Dar Al Arkan Amiantit Chemanol
SAUDI ARABIA Index (Intraday)
Dar Al Arkan Alinma Saudi Kayan Mesc Zain Ksa
2:25 PM
2:05 PM
1:45 PM
1:25 PM
1:05 PM
12:45 PM
12:25 PM
12:05 PM
11:25 AM
11:45 AM
11:05 AM
10:45 AM
10:25 AM
9:45 AM
Top Movers Company
10:05 AM
7,200 7,190 7,180 7,170 7,160 7,150 7,140 7,130 7,120
Allianz Sf Nama Chems Co Wataniya Ins Arabian Shield Al Alamiya Coop Ins Top Losers Company
30-Jan
29-Jan
26-Jan
25-Jan
24-Jan
23-Jan
22-Jan
19-Jan
18-Jan
17-Jan
16-Jan
15-Jan
-
Top Gainers Company
Last Pr SAR 37.49 4.80 31.04 65.36 26.88
---Change--SAR 3.36 0.40 1.81 3.25 1.17
% 9.8 9.1 6.2 5.2 4.6
Vol '000 3,459 4,207 1,659 1,443 1,673
Last Pr SAR 12.33 10.45 5.95 7.54 7.14
---Change--SAR (0.71) (0.44) (0.24) (0.26) (0.23)
% (5.4) (4.0) (3.9) (3.3) (3.1)
Vol '000 5,591 3,314 44,560 3,358 2,061
Last Pr SAR 5.95 15.10 8.56 8.67 8.75
---Change--SAR (0.24) (0.06) (0.14) 0.08 (0.26)
% (3.9) (0.4) (1.6) 0.9 (2.9)
Vol '000 44,560 24,098 8,078 7,448 6,716
Saudi Arabia - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2015--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2015
2015
2015
2016E
SABIC
96.11
3,590
76.9
-0.8
5.0
98.500
63.250
5.6
11.6
5.7
1.8
15.4
16.0
Saudi Telecom
67.72
398
36.1
-1.0
-6.7
74.000
51.000
9.9
15.3
5.9
2.2
14.6
16.0
Al Rajhi Bank
66.80
2,073
28.9
0.5
5.9
67.500
48.600
2.3
16.1
2.2
2.3
15.2
13.3
Saudi Electricity
22.03
1,411
24.5
-2.1
-2.4
23.950
13.800
0.5
2.6
3.2
1.5
59.5
16.7
NCB
43.48
301
23.2
-1.3
2.0
46.300
32.000
2.1
18.3
3.6
1.6
9.6
9.6
Al Marai Company
69.86
328
14.9
0.1
2.0
70.000
46.125
7.5
16.7
1.2
4.6
29.2
27.3
Samba
22.70
450
12.1
-0.5
-6.8
25.200
15.900
2.3
13.2
4.0
1.1
8.7
8.5
Saudi British Bank
22.85
181
9.1
-0.7
-8.6
25.900
16.400
2.3
16.0
3.6
1.2
7.9
8.3
Riyad Bank
11.09
480
8.9
-1.0
-4.0
11.800
8.550
1.8
11.2
6.3
0.9
8.2
8.6
Banque Saudi Fransi
25.59
111
8.2
-0.9
-1.7
27.800
18.000
2.2
15.0
4.5
1.1
7.6
7.5
SAFCO
73.07
108
8.1
-0.7
-2.1
82.000
58.000
23.8
27.6
8.2
4.0
14.3
30.0
Arab National Bank
20.80
95
5.5
0.0
-5.8
22.500
14.250
1.8
13.9
4.8
1.0
7.0
7.1
Savola Group
37.51
246
5.3
-2.2
-6.5
44.900
27.800
6.7
17.5
5.3
1.9
11.2
11.1
Etihad Etisalat
22.33
647
4.6
-1.2
-6.9
32.200
16.400
-2.4
(6.2)
NA
1.1
NA
171.9
National Industry
16.07
553
2.9
-1.7
-8.0
18.250
7.900
-3.1
(14.5)
NA
1.3
NA
36.3
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
8
SICO RESEARCH
GCC MARKET WATCH
UAE
Ad Shipbldg Co. Sharjah Cement Rak Cement Co Natl Marine Drdg Gulf Cement Co Top Losers Company Int Fish Farming Ad Natl Ins Co Green Crescent Ins Methaq Rak Ceramics Top Movers Company Eshraq Properties Int Fish Farming Arkan Bld Mt Co Rak Properties Aldar Properties
Em Islamic Bk Aramex Amanat Gulf Fin House Arabtec Top Losers Company Mashreq Bank Tabreed Int Fin Advisors Ekttitab Hldg Co Almadina Fin&Inv Top Movers Company Amanat Gulf Fin House DXB Entertainment Arabtec DSI
Last Pr AED 3.59 4.50 1.14 2.37 1.37
---Change--AED % 0.46 14.7 0.37 9.0 0.05 4.6 0.07 3.0 0.04 3.0
Vol '000 1 10,153 206,993 92,634 37,684
Last Pr AED 85.00 1.90 0.59 0.62 0.70
---Change--AED % (5.05) (5.6) (0.07) (3.6) (0.01) (1.7) (0.01) (1.6) (0.01) (1.4)
Vol '000 0 4,547 93 2,795 4,990
Last Pr AED 1.14 2.37 1.20 1.37 0.54
---Change--AED % 0.05 4.6 0.07 3.0 0.01 0.8 0.04 3.0 0.01 1.5
Vol '000 206,993 92,634 40,856 37,684 34,992
1:05 PM
12:45 PM
11:45 AM
11:25 AM
12:25 PM
1:05 PM
12:45 PM
30-Jan
29-Jan
26-Jan
25-Jan
24-Jan
23-Jan
22-Jan
19-Jan
17-Jan
18-Jan
16-Jan
Top Gainers Company
Vol '000 28,364 7,936 4,119 4,055 3,759
3,630
15-Jan
Vol '000 7,936 1 700 1,668 387
12:05 PM
-
---Change--AED % (0.29) (9.9) (0.20) (7.7) (0.02) (2.4) (0.02) (2.2) (0.05) (2.0)
12:25 PM
3,640 11:45 AM
200,000
11:25 AM
3,650
2,000
11:05 AM
3,660
4,000
10:25 AM
400,000
10:45 AM
3,670
6,000
10:05 AM
8,000
9:45 AM
3,680
600,000
Last Pr AED 2.63 2.40 0.83 0.90 2.47
11:05 AM
3,690 10,000
800,000
Vol '000 14 200 2 1 632
10:45 AM
29-Jan
26-Jan
25-Jan
24-Jan
23-Jan
22-Jan
30-Jan
3,700
12,000
1,000,000
---Change--AED % 0.40 14.3 0.05 5.3 0.04 4.6 0.19 4.3 0.04 4.1
---Change--AED % 0.03 2.8 (0.29) (9.9) 0.01 1.1 (0.02) (0.8)
Trades (VWAP)
1,200,000
Last Pr AED 3.20 1.00 0.91 4.60 1.02
Last Pr AED 1.09 2.63 0.89 0.79 2.58
Vol 000 - LHS
1,400,000
500 450 400 350 300 250 200 150 100 50 30-Jan
29-Jan
26-Jan
25-Jan
24-Jan
23-Jan
22-Jan
19-Jan
18-Jan
17-Jan
15-Jan
16-Jan
Top Gainers Company
DUBAI Index (Intraday)
Dubai Markets DFM index
12:05 PM
Dubai Markets Turnover USD mn RHS
3,730 3,720 3,710 3,700 3,690 3,680 3,670 3,660 3,650 3,640 3,630
19-Jan
18-Jan
17-Jan
15-Jan
16-Jan
-
30-Jan
29-Jan
26-Jan
25-Jan
24-Jan
23-Jan
22-Jan
19-Jan
18-Jan
1,000
100,000
17-Jan
2,000
200,000
50
16-Jan
3,000
300,000
100
15-Jan
4,000
400,000
10:25 AM
500,000
150
9:45 AM
6,000 5,000
10:05 AM
Trades (VWAP)
9:25 AM
Vol 000 - LHS
9:05 AM
600,000
9:25 AM
700,000
200
8:45 AM
250
4,610 4,605 4,600 4,595 4,590 4,585 4,580 4,575 4,570 4,565
9:05 AM
4,720 4,700 4,680 4,660 4,640 4,620 4,600 4,580 4,560 4,540 4,520
ABUDHABI Index (Intraday)
Abu Dhabi Markets
ADSM index
8:45 AM
Abu Dhabi Markets Turnover USD mn RHS
DFM increased 0.3% with Damac up 0.8% and Arabtec 3% higher. Aramex rallied 9%; after the compnay reported AED 132mn for 4Q16 net income, up 129% YoY, likely due to a one off. DSI gained 1.5%. DFM and DXBE ended 0.8% higher each. DIB declined 1.1% and Du decreased 0.7%. Emaar ended 0.5% lower. Foreigners were net sellers.
ADX was marginally in green (+0.1%); ADCB gained 1% and Etisalat increased 0.6%. Agthia was up 0.9%, the company reported 4Q16 net income at AED 54.1mn, up by 4% YoY. Eshraq rose 2.8% and Taqa was up 2%. Aldar declined 0.8% and FGB decreased 0.4%. Foreigners were net sellers.
UAE - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2015--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2015
2015
2015
2016E 18.7
Etisalat
18.25
824
43.2
0.6
-2.9
20.200
15.850
6.4
15.8
4.4
3.6
19.2
First Gulf Bank
13.05
725
16.0
-0.4
1.6
13.500
10.500
2.7
17.8
7.7
1.8
9.9
9.8
NBAD
10.40
914
14.8
0.0
4.1
10.800
7.500
1.3
13.5
3.8
1.5
10.8
10.7
Emaar
7.51
9,743
14.6
-0.5
5.3
7.790
4.970
5.3
11.1
2.0
1.4
13.2
10.9
Emirates NBD
8.59
78
13.0
-0.1
1.2
9.000
7.100
1.7
14.8
4.7
1.2
7.3
6.6
ADCB
7.14
332
10.9
1.0
3.5
7.680
5.660
2.2
18.8
5.9
1.6
8.3
9.7
Emaar Mall
2.56
2,445
9.1
0.0
-2.3
3.100
2.300
7.0
11.3
3.9
2.2
20.1
16.9
DU
6.02
60
7.5
-0.7
-2.9
6.990
5.190
10.8
24.8
7.1
3.5
14.2
15.3
Dubai Islm Bank
6.04
7,151
6.5
-1.1
8.4
6.230
4.900
2.3
20.6
7.5
1.8
7.5
6.9
Aldar Properties
2.58
3,759
5.5
-0.8
-1.9
2.990
2.190
6.8
13.2
3.9
1.0
8.0
7.7
Damac Properties
2.67
7,413
4.4
0.8
5.5
2.880
1.910
21.4
59.8
3.4
1.6
3.6
4.3
Union National Bk
4.56
32
3.4
0.0
0.4
4.850
3.210
1.8
11.0
4.4
0.8
7.0
7.7
DFM
1.32
2,353
2.9
0.8
5.6
1.590
1.060
3.0
3.2
3.8
1.3
40.5
46.9
Arabtec
1.37
37,684
1.7
3.0
4.6
1.870
1.040
-17.2
(50.3)
NA
1.9
NA
NA
AD Nat Engy (Taqa)
0.51
2,130
0.8
2.0
-3.8
0.680
0.390
-1.6
(31.0)
NA
1.1
NA
NA
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
9
SICO RESEARCH
GCC MARKET WATCH
Results Monitor (Q4-2016) Cur r (m n)
Mc a p $ mn Net Sa udi R e f or Coope r a t iv e R e ins ur a nc e Co. KSA SA R 177 Ma s hr e q Ba nk UAE AED 4 ,3 5 3 Wa ha c a pit a l (OA SI S I N T L LE A SI ) UAE AED 1 ,2 1 8 N a t iona l Ce nt r a l Cooling Co. (T a br e e d) UAE AED 396 A r a b I nt l Logis t ic s UAE AED 1 ,6 4 6 A gt hia G r oup UAE AED 1 ,1 1 7 G ulf Ba nk Kuwa it KWD 2 ,8 7 0 Om a n Or ix Om a n OMR 88 SH A R QI YA I N V Om a n OMR 31 Wataniya Insurance Co. KSA SAR 78 WALAA INS KSA SAR 288 ALLIANZ SF KSA SAR 182 Qatar Meat & livestock Co Qatar QAR 346 Viva Kuwait Kuwait KWD 1,539 Kuwait International Bank Kuwait KWD 810 Trade Union Cooperative Insurance Co. KSA SAR 139 GULF UNION KSA SAR 75 SANAD KSA SAR 81 MALATH KSA SAR 67 MEDGULF KSA SAR 708 SALAMA KSA SAR 40.2 Bupa Arabia KSA SAR 2,765 National Bank of Fujairah UAE AED 1,211 ISLAMIC FIN SEC Qatar QAR 67 Q. Natl. Cement Co. Qatar QAR 1,498 Qatar Intl.Islamic Bank Qatar QAR 2,898 Qatar Insurance Co. Qatar QAR 5,883 PORTLAND CEMENT Kuwait KWD 353 Esterad Investment Company Bahrain BHD 52 ACE Arabia Cooperative Insurance Co. KSA SAR 124 Al Alamiya KSA SAR 274 VOLTAMP ENERGY S Oman OMR 80 ACWA POWER BARKA Oman OMR 59 United Power Oman OMR 42 NAT ALUMINIUM PR Oman OMR 16 United Finance Oman OMR 82 National Finance Oman OMR 57 Muscat Finance Oman OMR 81 Source: SICO Research, Company Reports, Reuters, Bloomberg, Zawya, Stock Exchanges Note*: Preliminary Com pa ny
Count r y
-----4 Q 2 0 1 6 ------4 Q-1 6 For e c a s t I nc % YoY % QoQ Me dia n Va r % 4 2 .4 -4 % NM NA NA 440 -2 1 % 6% NA NA 1 9 .5 -8 4 % -7 6 % NA NA 98 7% -1 0 % NA NA 132 129% 94% 86 54% 54 4% -1 % 4 7 .3 14% 1 0 .1 8% -1 6 % NA NA 1 .7 17% 29% NA NA 0 .1 NM -5 4 % NA NA 20.1 NM 150% NA NA 26.3 125% -34% NA NA 5.1 -29% -20% NA NA 24.1 36% 5% NA NA 10.8 6% 11% 9.4 14% 4.7 11% 215% NA NA 10.3 NM -62% NA NA 16.7 158% NM NA NA (4.0) M, NM NA NA (25.4) NM NM NA NA 12.0 NM -80% NA NA 10.8 NM 44% NA NA 104 -48% -57% 199 -48% 70 -34% 54% NA NA 2.9 NM NM NA NA 120 14% 15% NA NA 119 -7% -47% 316 -62% 319 -9% 194% 307 4% 1.8 NM 238% NA NA 0.002 NM -99% NA NA 11.4 83% 50% NA NA 4.9 18% -60% NA NA 1.1 17% 33% NA NA 3.3 22% 20% NA NA 0.4 49% 159% NA NA 0.02 -92% NM NA NA 1.2 -16% 45% NA NA 2.1 20% 44% NA NA 1.5 63% 14% NA NA
10
SICO RESEARCH
GCC MARKET WATCH
NOTES
Contact Details BMB Centre, 1 Floor P.O Box 1331, Diplomatic Area Manama Kingdom of Bahrain
* PER 2016E : The P/E Ratios for the companies in this report are based on the following estimates (in descending order of preference) 1. Broker Consensus / SICO Estimates (where available) 2. Annualized performance of 2016 (based on results announced so far) 3. SICO estimates based on past performance and normalized operations 4. Assumption of status-quo of profits in 2015 where the none of the above is available
2015 ROA / ROE may not tally with reported figures from individual companies as SICO Research has tried to normalize financials to remove the impact of exception items.
LTD stands for last traded day.
The Sector Universes in Page 2 & 3 have been compiled on the basis of market capitalisations of the biggest companies in the respective sectors (while ensuring a fair representation from each country).
In each market page the ‘# Trans’ has been smoothened on days when markets are closed in order to avoid distortion in the graphs. Smoothening of the data assumes the number of transactions on days where the markets were closed, is the same as the preceding day.
Intra-day index movements’ graphs are based on ticks of 5 minutes.
Last / Closing Prices used in this report are the ‘last actual trades’ and may differ from the official closing prices quoted by individual stock exchanges (which in some cases are volume weighted averages).
This report is provided for information purpose only and the actual performance / valuation ratios of individual companies may vary from those published in this report. Readers are strongly advised to check relevant company sources / stock exchanges site before taking any investment decision.
st
Investment Research
[email protected]
Head of Research Nishit Lakhotia, CFA, CAIA Tel: (Direct) +973 – 17515021
Brokerage Fadhel Makhlooq Tel: (Direct): +973 – 17515202
Visit us at www.sicobahrain.com
Securities & Investment Company BSC Disclaimer This report does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for any securities. The information and opinions contained in this report have been compiled or arrived at from sources believed to be reliable and in good faith, but no representation or warranty, express or implied, is made as to their accuracy, completeness or correctness and are subject to change without notice. Investors must make their own investment decisions. Past performance is not necessarily a guide to future performance. Nothing in this report should be construed as investment or financial advice or as an advice to buy or sell the securities of the company referred to in this report. SICO and/or its clients may have positions in or options on the securities mentioned in this report or any related investments, may effect transactions or may buy, sell or offer to buy or sell such securities or any related investments. Additional information on the contents of this report is available on request.
Copyright Notice © Securities and Investment Company 2017. This report is being supplied to the recipient for information and not for circulation and may not be reproduced, redistributed or passed on to any other person or published, in whole or in part.
11
