Dec 15, 2015 - DAX. 10,379.3. 2.4. 5.9. NIKKEI. 18,565.9. (1.7). 6.4. MSCI EM. 771.2. (0.3). (19.4). Source: Bloomberg @
GCC Market Watch
December 15, 2015
GCC Market Watch
Regional Markets Today Country
Current
%Chg 1D
%Chg YTD
Bahrain (BAX)
1,197.1
(0.8)
(16.1)
Kuwait (KWSE)
5,616.2
0.2
(14.1)
Oman (MSI)
5,365.6
(0.7)
(15.4)
Qatar (DSMI)
9,789.8
0.5
(20.3)
S.Arabia (TASI)
6,771.5
1.3
(18.7)
UAE (DFM)
2,919.6
0.1
(22.6)
UAE (ADSM)
4,014.9
(0.3)
(11.3)
92.0
(0.6)
(20.4)
S&P GCC Source: Bloomberg
Note: S&P GCC index as of previous day
CDS-5years Dubai
Bahrain
Current
247
383
88
87 143
Previous day
246
379
88
87 142
Week ago
224
353
85
82 133
Month ago
202
340
75
77 160
Year ago
240
242
78
88
Regional market wrap-up GCC Markets traded mostly in the green with Tadawul being the top gainer. Tadawul recovered (+1.3%) today as SABIC increased 0.4% and Al Rajhi advanced 1.8%. DFM ended 0.1% higher; Emaar increased 2.1% and Damac advanced 3.3%. ADX decreased 0.3% driven by ADCB falling 3.5% and Taqa declining 2.3%. DSM closed in the green (+0.5%); IQ advanced 1% and QIB increased 0.9%. KWSE closed 0.2% higher with KFH up 3.8% and Al Ahli Bank 1.4% higher. MSM was 0.7% lower led by Bank Muscat declining 0.4% and NBO falling 1.5%. BHB dropped 0.8% as NBB decreased 0.7% and Seef declined 1.9%.
AbuDhabi Qatar KSA
In the news…
Almarai's Board of directors recommend to an increase in the company's share capital by 33% to SAR 8bn from SAR 6bn. The number of issued shares before the proposed increase in capital is 600mn shares, the number of issued shares after the proposed share capital increase will be 800mn shares. The objective of this proposed share capital increase is to adjust the company's share capital to its assets level, and help support its ambitious investment program announced in May 26th 2015. Source: Company Announcement
Raysut Cement (RCC) signed an agreement with Arabian Industries Company in which the Arabian Industries Company will implement the competency increase project of gas pressure reduction plant at RCC. The project is expected to be completed in May, 2016. Oman Gas Company has been nominated as the Consultant of the Project Services Management. After Project completion the production capacity of cement shall be increased to about 120,000 – 130,000 Tons per annum. The total cost of the project is estimated at about OMR 2.1mn. Source: Company Announcement
Bank Al Jazeera announced that it has taken back its decision to conduct a rights issuance which was approved earlier in the year by the board, due to the current market conditions. Source: Company Announcement
71
Source: Bloomberg as of LTD
International Indices
GCC- Equities
Country
Current
%Chg 1D
%Chg YTD
DJIA
17,368.5
0.6
(2.6)
S&P
2,021.9
0.5
(1.8)
NASDAQ
4,952.2
0.4
4.6
FTSE
5,974.7
1.7
(9.0)
DAX
10,379.3
2.4
5.9
NIKKEI
18,565.9
(1.7)
6.4
771.2
(0.3)
(19.4)
MSCI EM
Source: Bloomberg @Dec-15 04:27 PM
Oil Price Trend Nymex Crude 1M Futures
Oct-15
Jun-15
Feb-15
Oct-14
Jun-14
Feb-14
Oct-13
Jun-13
Feb-13
Oct-12
Jun-12
Feb-12
150 130 110 90 70 50 30
SICO Research
Commodity and Currency Monitor Current
%Chg 1D
%Chg YTD
OPEC Basket
32.60
(3.4)
(37.3)
Brent Spot
36.68
(1.3)
(34.2)
Nymex 1M Fut
36.34
0.1
(31.8)
Gold Spot
1,064.8
0.1
(10.4)
USD / Yen
120.99
(0.2)
(1.0)
Euro / USD
1.0990
(0.2)
(9.2)
Source: Bloomberg @Dec-15 04:27 PM
Raneem Seroor 17515000
[email protected]
GCC Market Statistics Country
Mcap
Vol
Turnover
Trades
$ bn
mn shr
$ mn
VWAP
14A
15E
14A
14A
14A
Saudi
415.9
260.8
1,351.5
86,024
12.9
13.6
1.6
4.6
12.8
UAE
177.1
286.1
121.2
4,541
10.7
9.5
1.3
4.3
12.9
84.1
100.5
52.5
2,620
14.9
13.4
1.2
3.7
8.1
140.8
5.5
604.2
2,932
11.4
11.0
1.5
4.5
11.5
Kuwait Qatar
P/E (x)
P/B(x) D/Yld(%) ROE(%)
Bahrain
18.4
4.8
3.2
43
9.1
8.2
0.9
5.2
9.1
Oman
21.3
14.6
13.7
424
8.7
8.6
1.2
4.9
13.4
GCC
858
672
2,146
96,584
11.5
11.3
1.5
4.4
12.0
Source: SICO Research, Bloomberg, Reuters, Zawya
© SICO 2015 All Rights Reserved Attention is drawn to the disclaimer and other information in the end
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
---2014--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2014
2014
2014
2015E
SABIC (KSA)
84.050
9,321
67.2
0.4
0.7
110.500
70.250
6.9
12.6
6.5
1.6
10.8
12.9
Etisalat (UAE)
15.700
2,018
37.2
0.0
57.7
16.500
9.409
8.3
19.4
4.1
3.2
15.4
18.1
STC (KSA)
65.950
603
35.2
0.0
0.3
73.250
52.750
12.3
18.8
5.3
2.2
12.0
11.9
160.500
83
30.9
0.5
-24.6
225.000
158.200
2.2
18.9
4.4
2.0
10.7
9.7
NCB
50.070
331
26.7
0.2
-8.9
72.750
48.800
2.1
19.7
2.9
2.2
11.6
11.1
Al Rajhi (KSA)
48.210
2,659
20.9
1.8
-6.3
69.000
46.600
2.3
17.0
3.6
1.9
11.5
11.7
Inds Qatar (Qatar)
99.000
128
16.5
1.0
-41.1
178.200
96.000
17.3
18.8
7.1
1.8
9.4
10.0
Saudi Electric (KSA)
14.750
1,146
16.4
0.3
-1.0
21.000
13.800
1.2
6.3
4.7
1.0
17.0
19.8
0.810
1,175
14.2
0.0
-6.5
0.905
0.762
1.3
9.8
3.5
1.5
15.6
12.1
20.740
1,819
11.1
0.4
-10.4
31.000
20.150
2.4
13.6
3.9
1.1
8.3
8.0
QNB (Qatar)
NBK (Kuw) Samba (KSA)
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
GCC Telecom and Transportation Universe Company
Last
Vol.
Mcap
Price
Traded
US$
Last
YTD
High
Low
ROA
ROE
DivYld
PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2014
2014
2014
2015E
Etisalat (UAE)
15.700
2,018
37.2
STC (KSA)
65.950
603
DU (UAE)
4.970
170
Ooredoo (Qatar)
70.000
Etihad Etisalat (KSA)
---Price Chg---
---52 Week---
---2014---
------------Valuation---------
0.0
57.7
16.500
9.409
8.3
19.4
4.1
3.2
15.4
18.1
35.2
0.0
0.3
73.250
52.750
12.3
18.8
5.3
2.2
12.0
11.9
6.2
-0.6
0.5
5.484
3.875
12.4
28.2
6.4
2.9
10.8
10.8
94
6.2
0.7
-43.5
123.900
60.000
2.2
6.6
5.7
0.7
10.5
11.1
29.100
431
6.0
0.7
-33.7
51.500
21.700
-1.9
(4.3)
12.9
1.2
NA
NA
ZAIN (Kuw)
0.345
2,922
4.7
-2.8
-34.9
0.590
0.345
6.1
11.5
12.9
0.8
6.9
8.3
Omantel (Oman)
1.530
326
3.0
0.0
-9.7
1.810
1.470
0.0
22.1
4.9
2.0
9.4
9.3
NMTC (Ooredoo)
1.040
2
1.8
0.0
-25.7
1.720
0.980
4.3
8.3
6.7
0.7
7.6
10.7
Batelco (Bah)
0.314
30
1.4
0.0
-4.8
0.350
0.308
4.9
8.8
8.0
1.0
10.6
9.3
18.650
79
15.5
-1.3
-11.2
23.900
17.950
6.2
12.8
1.3
1.8
22.1
19.2
Agility (Kuw)
0.495
1,181
2.1
1.0
-29.8
0.790
0.485
3.6
5.7
6.4
0.7
11.8
13.7
Air Arabia (UAE)
1.190
8,305
1.5
0.8
-20.7
1.760
1.170
5.5
10.4
7.6
1.1
10.0
9.3
Aramex (UAE)
3.020
1,459
1.2
-1.0
-2.6
3.650
2.660
10.3
14.8
4.6
2.0
13.9
12.6
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
---2014--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2014
2014
2014
2015E
160.500
83
30.9
0.5
-24.6
225.000
158.200
2.2
18.9
4.4
2.0
10.7
9.7
NCB
50.070
331
26.7
0.2
-8.9
72.750
48.800
2.1
19.7
2.9
2.2
11.6
11.1
Al Rajhi (KSA)
48.210
2,659
20.9
1.8
-6.3
69.000
46.600
2.3
17.0
3.6
1.9
11.5
11.7
0.810
1,175
14.2
0.0
-6.5
0.905
0.762
1.3
9.8
3.5
1.5
15.6
12.1
First Gulf Bk (UAE)
11.400
1,292
14.0
0.4
-22.6
16.077
11.050
2.8
17.2
7.6
1.5
9.1
9.0
Samba (KSA)
20.740
1,819
11.1
0.4
-10.4
31.000
20.150
2.4
13.6
3.9
1.1
8.3
8.0
NBAD (UAE)
7.700
256
10.9
-0.3
-39.5
12.818
7.550
1.6
15.4
4.7
1.1
7.2
7.1
ENBD (UAE)
6.700
1,531
10.1
-3.9
-24.6
10.950
6.080
1.5
11.6
5.2
0.8
7.2
5.7
11.640
1,329
9.3
0.1
-31.5
18.950
11.600
2.1
12.5
6.3
1.0
8.0
8.9
0.550
3,779
9.1
3.8
-16.0
0.727
0.530
0.7
6.5
2.4
1.5
21.8
15.5
Saudi British (KSA)
22.500
565
9.0
-0.2
-42.2
41.333
22.400
2.3
17.4
3.1
1.3
7.9
7.4
Saudi Fransi (KSA)
25.000
193
8.0
2.0
-20.2
40.900
24.200
2.0
14.2
4.2
1.1
8.6
7.5
Masraf AlRayan (Qatar)
34.200
1,856
7.0
0.4
-22.6
51.700
33.700
2.7
18.2
5.1
2.3
12.8
11.9
107.000
56
6.9
0.9
4.7
121.000
84.500
1.8
12.2
4.0
2.0
15.8
14.0
21.820
738
5.8
0.4
-28.5
36.200
21.300
1.9
14.5
4.6
1.1
7.6
7.0
0.700
1,139
4.5
0.0
-8.7
0.800
0.685
1.5
13.9
6.0
1.3
9.3
8.1
45.400
119
4.1
1.1
-27.1
65.455
43.550
1.6
11.2
7.0
0.9
7.9
7.4
NBK (Kuw)
Riyad Bk (KSA) KFH (Kuw)
QISB (Qatar) Arab Nat Bk (KSA) AUB (Bah) CBQ (Qatar)
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
2
SICO RESEARCH
GCC MARKET WATCH
GCC Oil, Gas & Petroleum Universe Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2014--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2014
2014
2014
2015E
SABIC (KSA)
84.050
9,321
67.2
0.4
0.7
110.500
70.250
6.9
12.6
6.5
1.6
10.8
12.9
Inds Qatar (Qatar)
99.000
128
16.5
1.0
-41.1
178.200
96.000
17.3
18.8
7.1
1.8
9.4
10.0
Safco (KSA)
84.760
169
9.4
-0.2
-24.8
127.500
77.750
34.5
39.4
6.6
4.5
11.1
15.2
Yansab (KSA)
40.160
204
6.0
0.9
-15.7
57.500
38.300
10.9
16.2
7.5
1.5
9.1
18.8
Nakilat (Qatar)
23.000
818
3.5
0.1
-0.4
25.300
19.310
2.9
22.0
5.2
3.4
14.4
13.2
7.530
7,893
3.0
1.3
-31.4
14.150
7.350
-0.1
(0.3)
NA
0.8
NA
NA
Petrorabigh (Saudi)
12.480
6,746
2.9
-0.5
-31.2
26.700
12.400
1.6
7.4
NA
1.1
16.0
9.9
Tasnee (KSA)
10.830
2,877
1.9
0.7
-59.3
29.200
10.700
2.2
6.9
9.2
0.6
6.8
NA
Sipchem (KSA)
16.290
218
1.6
0.1
-38.6
36.100
15.850
3.6
9.1
7.7
1.0
9.9
17.5
Sahara Petro (KSA)
10.970
1,304
1.3
1.0
-28.0
18.250
10.700
4.5
6.4
7.7
0.8
12.5
31.7
0.450
8,141
0.9
0.0
-10.0
0.660
0.380
3.5
4.7
NA
0.3
6.9
9.9
Kayan (KSA)
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
---2014--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2014
2014
2014
2015E
Ezdan (Qatar)
14.950
142
10.9
-0.3
0.2
21.780
13.100
3.2
4.6
2.7
1.3
29.2
27.8
Emaar (UAE)
5.330
14,887
10.4
2.1
-26.6
8.390
4.880
4.7
9.7
2.8
1.2
11.6
8.5
Aldar Properties (UAE)
2.240
8,713
4.8
0.0
-15.5
3.010
1.890
5.4
12.9
4.0
1.0
7.9
7.6
Damac (UAE)
2.190
6,174
3.3
3.3
N/A
3.518
1.471
21.6
93.3
4.2
2.7
NA
NA
Southern Cem (KSA)
72.000
41
2.7
1.7
-34.2
114.250
70.500
28.8
36.5
6.9
3.4
9.6
10.4
Saudi Cem (KSA)
65.750
66
2.7
0.8
-31.3
105.000
62.250
24.3
33.5
9.1
3.1
9.4
9.9
United Devt (Qatar)
19.500
19
1.9
0.5
-17.3
26.400
19.000
3.3
5.8
6.4
0.6
11.0
10.5
Yamamah Cem (KSA)
34.000
89
1.8
0.3
-29.1
54.000
33.700
16.1
17.6
8.8
1.8
10.3
11.0
5.900
30,663
1.7
1.9
-27.4
11.000
5.750
2.3
3.3
NA
0.4
11.1
10.4
100.900
3
1.5
1.4
-15.9
132.727
99.200
14.6
16.6
NA
2.1
13.0
11.2
33.050
52
1.3
0.7
-17.8
53.378
28.666
25.4
31.1
3.9
1.2
4.1
13.1
Arabtec Hold. (UAE)
0.982
20,474
1.2
0.8
-64.8
3.181
0.930
1.6
3.7
NA
0.8
21.1
5.2
Kuwait Cem (Kuw)
0.390
4
1.0
-4.9
-2.5
0.410
0.340
6.1
9.8
4.5
1.5
15.1
12.4
Dar Al Arkan (KSA) Qat Natl Cem (Qatar) Taiba (KSA)
Deyaar (UAE)
0.457
5,474
0.7
0.4
-46.2
0.988
0.442
4.5
6.7
NA
0.6
9.4
16.8
Saudi Real Est (KSA)
21.380
1,070
0.7
4.1
-36.0
47.500
20.450
7.6
8.2
4.7
0.7
9.3
14.2
Raysut Cem (Oman)
1.000
18
0.5
-2.0
-40.1
1.985
1.000
0.0
20.2
7.5
1.4
7.3
9.6
Drake & Scull (UAE)
0.387
13,358
0.2
1.6
-56.8
1.050
0.371
1.3
3.4
NA
0.3
8.8
59.4
Nass Corp (Bah)
0.126
-
0.1
0.0
-26.7
0.194
0.126
4.1
7.2
11.6
0.5
6.8
3.9
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
---2014--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2014
2014
2014
2015E
Almarai (KSA)
85.440
679
13.7
6.6
11.4
98.000
69.250
7.1
15.5
1.2
4.7
30.6
25.3
Savola (KSA)
46.850
877
6.7
-1.1
-40.5
85.000
46.400
8.1
19.9
4.8
2.5
12.1
15.0
154.950
112
3.7
0.6
-16.6
241.000
152.500
32.0
58.9
4.0
10.3
18.7
16.0
AlHokair (KSA)
65.320
271
3.7
-0.6
-34.0
117.000
63.000
13.6
33.1
3.4
5.7
17.1
14.8
Kt. Foods (Kuw)
2.000
148
2.8
-3.8
-28.6
3.020
2.000
11.1
20.0
4.4
2.2
10.9
12.1
Agthia (UAE)
7.350
87
1.2
-0.1
18.5
9.010
4.950
9.3
14.7
1.4
3.2
22.8
17.8
Othaim (KSA)
86.000
86
1.0
-0.2
-18.3
118.750
79.000
0.0
27.5
2.0
4.1
18.0
16.6
Sadafco (KSA)
110.260
191
1.0
-0.7
-7.3
153.000
108.500
NA
15.1
3.2
3.8
25.4
15.1
28.830
148
0.6
-1.2
3.6
37.818
22.000
3.3
8.9
1.6
1.8
20.7
16.9
0.464
-
0.2
0.0
-20.8
0.592
0.464
0.0
11.3
NA
1.4
12.0
11.1
Jarir (KSA)
Nadec (KSA) Oman Flour (Oman)
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
3
SICO RESEARCH
GCC MARKET WATCH
Bahrain
BHB dropped 0.8% as NBB decreased 0.7% and Seef declined 1.9%. ABC plunged 7.5% and Alba was 0.5% lower. BTC and Cinema went down 9.7% and 6.7% respectively. BCFC increased 1.5%.
Bahrain Markets Turnover BD mn RHS
1,240
BSE index
2.50
1,230
2.00
1,220 1,210
1.50
1,200
1.00
1,190 0.50
1,180
15-Dec
14-Dec
13-Dec
10-Dec
9-Dec
8-Dec
7-Dec
6-Dec
3-Dec
30-Nov
2-Dec
0.00
1-Dec
1,170
Bahrain Markets Vol 000 - RHS
70
Trades (VWAP)
9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 -
60 50 40 30 20 10
15-Dec
14-Dec
13-Dec
10-Dec
9-Dec
8-Dec
7-Dec
6-Dec
3-Dec
2-Dec
1-Dec
30-Nov
-
Bah Comm Fac N/A N/A N/A N/A Top Losers Company Bah Tourism Co Arab Bnking Co $ Bah Cinema Co Seef Properties Natl Bank Bah
BAHRAIN Index (Intraday) 1,210 1,205
1,200
Top Movers Company
1,195 1,190
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
1,185 1,180
Top Gainers Company
Khaleeji Comm Bk Ahli United Bk $ Seef Properties Natl Bank Bah Arab Bnking Co $
Last Pr BD 0.66 N/A N/A N/A N/A
---Change--BD 0.01 N/A N/A N/A N/A
% 1.5 N/A N/A N/A N/A
Vol '000 4 N/A N/A N/A N/A
Last Pr BD 0.22 0.43 1.26 0.20 0.69
---Change--BD (0.02) (0.04) (0.09) (0.00) (0.01)
% (9.7) (7.5) (6.7) (1.9) (0.7)
Vol '000 23 100 5 136 102
Last Pr BD 0.064 0.70 0.20 0.69 0.43
---Change--BD % (0.00) (1.9) (0.01) (0.7) (0.04) (7.5)
Vol '000 1,509 1,139 136 102 100
Bahrain - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2014--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2014
2014
2014
2015E
AUB $ **
0.700
1,139
4.5
0.0
-8.7
0.800
0.685
1.5
13.9
6.0
1.3
9.3
8.1
NBB
0.690
102
1.9
-0.7
-10.7
0.865
0.680
1.9
14.4
3.3
1.9
13.4
12.5
Batelco
0.314
30
1.4
0.0
-4.8
0.350
0.308
4.9
8.8
8.0
1.0
10.6
9.3
ALBA
0.366
15
1.4
-0.5
-28.9
0.520
0.358
8.2
10.8
7.4
0.6
5.4
6.3
ABC $
0.430
100
1.3
-7.5
-38.6
0.770
0.430
0.9
6.1
11.6
0.3
5.2
4.8
BBK
0.424
-
1.2
0.0
-5.3
0.461
0.421
1.5
14.5
4.5
1.3
9.2
8.4
UGB
0.390
-
0.9
0.0
N/A
0.396
0.300
0.9
2.2
NA
1.9
45.8
36.2
Al Baraka
0.540
-
0.6
0.0
-31.6
0.833
0.540
0.7
9.1
6.1
0.5
4.0
3.6
Al Salam
0.087
-
0.5
0.0
-33.6
0.156
0.087
1.0
5.5
5.7
0.6
12.0
11.1
Ithmaar Bank $
0.145
-
0.4
0.0
-9.4
0.175
0.120
-0.2
(2.4)
NA
0.8
NA
-
GFH $
0.165
-
0.4
0.0
N/A
0.230
0.150
1.0
1.9
NA
0.5
33.7
32.1
Bah Islamic Bk
0.114
-
0.3
0.0
-34.8
0.181
0.113
1.0
11.8
NA
1.4
11.9
10.9
BCFC
0.660
4
0.3
1.5
-5.7
0.825
0.650
6.4
15.5
6.7
1.1
7.4
6.5
Seef Properties
0.202
136
0.2
-1.9
4.7
0.210
0.190
8.1
8.5
5.4
0.7
8.6
10.3
Zain Bahrain
0.180
-
0.2
0.0
-10.0
0.20
0.16
3.8
7.4
2.8
1.1
16.0
14.4
Esterad
0.206
-
0.1
0.0
3.0
0.240
0.188
4.0
5.1
4.8
0.8
14.7
16.8
Source: SICO Research, Bloomberg, Reuters (** PER based on diluted capital), Data as of LTD.
4
SICO RESEARCH
GCC MARKET WATCH
Kuwait
Kuwait Markets Turnover KD mn RHS
5,850
KSE Index
25,000
5,800
20,000
KWSE closed 0.2% higher with KFH up 3.8% and Al Ahli Bank 1.4% higher. ZAIN fell 2.8% and AUB Kuwait declined 1%. Gulf Bank was down 1.9% and Burgan Bank ended 1.35 lower. Americana dropped 3.8%.
5,750 5,700
15,000
5,650
10,000
5,600
5,000
5,550
15-Dec
14-Dec
13-Dec
10-Dec
9-Dec
8-Dec
7-Dec
6-Dec
3-Dec
30-Nov
2-Dec
-
1-Dec
5,500
Kuwait Markets Vol 000 - LHS
200,000
Trades (VWAP)
4,000 Top Gainers Company
Damac Kwti Hld 2,000 Almadina Fin&Inv Abyaar Real Est Acico Industries Investors Hlding Top Losers Company
15-Dec
14-Dec
13-Dec
10-Dec
9-Dec
8-Dec
7-Dec
6-Dec
3-Dec
2-Dec
1-Dec
-
30-Nov
-
Kwt Cable Vision Glf Franchising Alrai Media Kwt Cement Co Natl Petro Svc
KUWAIT Index (Intraday)
---Change--KWD % 0.212 240.9 0.003 7.5 0.002 7.1 0.020 7.1 0.002 6.3
Vol '000 0 11,273 1,254 3 16,147
Last Pr KWD 0.023 0.043 0.142 0.390 0.590
---Change--KWD % (0.003) (10.0) (0.003) (5.6) (0.008) (5.3) (0.020) (4.9) (0.030) (4.8)
Vol '000 0 149 1 4 0
Last Pr KWD 0.026 0.036 0.028 0.028 0.022
Investors Hlding Almadina Fin&Inv Hits Telecom Hld Aldar Nat R.E. Natl Ranges Co
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
Top Movers Company
8:45 AM
5,620 5,615 5,610 5,605 5,600 5,595 5,590 5,585 5,580 5,575
Last Pr KWD 0.300 0.036 0.030 0.300 0.026
---Change--KWD 0.00 0.00 0.00
% 6.3 7.5 4.9
Vol '000 16,147 11,273 7,377 5,108 4,889
Kuwait - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2014--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
Bn
%
%
LCY
LCY
%
%
2014
2014
2014
2015E
NBK
0.810
1,175
14.2
0.0
-6.5
0.905
0.762
1.3
9.8
3.5
1.5
15.6
12.1
KFH
0.550
3,779
9.1
3.8
-16.0
0.727
0.530
0.7
6.5
2.4
1.5
21.8
15.5
ZAIN
0.345
2,922
4.7
-2.8
-34.9
0.590
0.345
6.1
11.5
12.9
0.8
6.9
8.3
AUB Kuwait
0.206
517
4.6
-1.0
-8.3
0.236
0.204
1.5
13.9
6.0
1.3
9.3
8.1
Boubyan Bank
0.435
89
3.1
0.0
11.4
0.462
0.357
1.2
10.2
1.1
3.0
31.1
27.2
Kuwait Inv Pro Co
0.580
400
3.0
0.0
-17.1
0.730
0.570
0.6
6.2
4.3
1.3
15.6
14.5
Gulf Bank
0.265
31
2.8
-1.9
-4.1
0.295
0.257
0.7
7.1
NA
1.6
22.8
15.8
Kt. Food (Americana)
2.000
148
2.8
-3.8
-28.6
3.020
2.000
11.1
20.0
4.4
2.2
10.9
12.1
Mabanee
0.930
798
2.8
0.0
11.4
1.020
0.730
11.6
19.1
NA
3.0
16.8
16.5
Burgan Bank
0.375
154
2.7
-1.3
-18.0
0.471
0.375
0.9
9.9
3.8
1.0
10.9
10.2
CBK
0.500
33
2.5
0.0
-20.6
0.660
0.495
0.9
6.8
3.6
1.3
18.5
11.7
Agility (PWC)
0.495
1,181
2.1
1.0
-29.8
0.790
0.485
3.6
5.7
6.4
0.7
11.8
13.7
Al Ahli Bank
0.370
62
2.1
1.4
-9.8
0.420
0.305
1.1
6.8
3.5
1.1
15.9
15.4
ooredoo
1.040
2
1.8
0.0
-25.7
1.720
0.980
4.3
8.3
6.7
0.7
7.6
10.7
Viva Kuwait
1.000
4,602
1.7
0.0
53.8
1.120
0.475
22.5
NM
NA
10.0
12.4
10.7
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
5
SICO RESEARCH
GCC MARKET WATCH
Oman
Oman Markets Turnover OR mn RHS
5,600
MSM index
6.0
5,550
5.0
5,500
4.0
5,450
3.0
5,400
2.0
5,350
15-Dec
14-Dec
13-Dec
10-Dec
9-Dec
8-Dec
7-Dec
6-Dec
30-Nov
3-Dec
0.0
2-Dec
1.0
5,250
1-Dec
5,300
MSM was 0.7% lower led by Bank Muscat declining 0.4% and NBO falling 1.5%. HSBC Oman and Bank Sohar 3.8% and 3.7% respectively. Raysut Cement ended 2% lower; Raysut signed an agreement to increase its production capacity to 120,000 -130,000 tons per annum. Ooredoo decreased 0.6%, while Al Anwar Holding gained 0.6%.
Oman Markets Vol 000 - LHS
25,000
Trades (VWAP)
1,200 1,000
20,000
800
15,000
600 10,000
400
5,000
200
15-Dec
14-Dec
13-Dec
10-Dec
9-Dec
8-Dec
7-Dec
6-Dec
3-Dec
30-Nov
2-Dec
-
1-Dec
-
Jazeera Steel Dofar Cattlefeed Oman Invest &Fin Gf Chemicals Al Anwar Holding Top Losers Company HSBC Oman Bank Sohar Port Services Batna Dev. Inv. Raysut Cement Co
Oman Index (Intraday)
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
Top Movers Company
8:45 AM
5,430 5,420 5,410 5,400 5,390 5,380 5,370 5,360 5,350 5,340 5,330
Top Gainers Company
Last Pr OMR 0.13 0.21 0.16 0.24 0.16
---Change--OMR 0.00 0.01 0.00 0.00 0.00
% 3.1 2.5 1.9 1.7 0.6
Vol '000 135 10 761 54 568
Last Pr OMR 0.10 0.16 0.14 0.09 1.00
---Change--OMR (0.004) (0.006) (0.004) (0.002) (0.020)
% (3.8) (3.7) (2.9) (2.3) (2.0)
Vol '000 278 47 20 25 18
---Change--OMR % (0.00) (0.4) 0.00 1.9 0.00 0.6
Vol '000 5,829 3,064 965 761 568
Last Pr OMR 0.24 0.48 0.07 0.16 0.16
Oman Hotels Bank Muscat Bank Nizwa Oman Invest &Fin Al Anwar Holding
Oman - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2014--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2014
2014
2014
2015E 9.3
Omantel
1.530
326
3.0
0.0
-9.7
1.810
1.470
0.0
22.1
4.9
2.0
9.4
Bank Muscat
0.476
3,064
2.8
-0.4
-14.1
0.613
0.466
0.0
12.9
5.0
0.8
6.7
6.4
Ooredoo Oman
0.712
59
1.2
-0.6
13.4
0.812
0.550
0.0
19.6
5.3
2.3
12.2
10.5
NBO
0.268
81
0.9
-1.5
-6.7
0.360
0.256
0.0
14.6
5.8
1.0
7.1
7.1
Bank Dhofar
0.211
560
0.8
0.0
-31.5
0.322
0.210
0.0
10.2
4.1
1.0
10.2
7.9
Ahli Bank Oman
0.193
-
0.7
0.0
-13.3
0.232
0.159
0.0
13.1
4.7
1.4
10.9
10.2
Bank Sohar
0.155
47
0.6
-3.7
-24.4
0.228
0.155
0.0
16.4
3.1
1.2
7.5
7.4
HSBC Oman
0.101
278
0.5
-3.8
-28.4
0.152
0.100
0.0
4.0
5.4
0.7
16.5
18.4
Raysut Cement
1.000
18
0.5
-2.0
-40.1
1.985
1.000
0.0
20.2
7.5
1.4
7.3
9.6
Shell Oman Mktg
2.000
25
0.5
0.0
0.0
2.100
1.900
0.0
37.2
4.8
5.6
15.5
13.6
Oman Cement
0.446
73
0.4
-0.9
-13.9
0.552
0.430
0.0
8.2
6.7
0.9
11.2
13.9
OMINVEST
0.422
-
0.4
0.0
11.6
0.506
0.340
0.0
8.2
4.7
1.1
9.8
7.5
Salalah Port Ser
0.648
-
0.3
0.0
0.0
0.660
0.632
NA
NA
NA
NA
NA
NA
Bank Nizwa
0.072
965
0.3
0.0
-10.0
0.096
0.060
NA
NA
NA
NA
NA
NA
Renaissance
0.165
-
0.1
0.0
-65.2
0.512
0.155
0.0
9.1
5.7
0.3
2.7
124.1
Galfar
0.073
509
0.1
0.0
-50.1
0.180
0.072
0.0
0.2
NA
0.2
125.3
5.5
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
6
SICO RESEARCH
GCC MARKET WATCH
Qatar
DSM closed in the green (+0.5%); IQ advanced 1% and QIB increased 0.9%. Qatar Navigation was 1.5% higher and Al Meera rose 1.4%. CBQ was up 1.1% and Al Rayan gained 0.4%. QNB and Doha Bank ended 0.5% higher each. Barwa Real Estate was 0.8% higher, while Ezdan Real Estate decreased 0.3%. Nationals were net buyers.
Qatar Markets Turnover QT mn RHS
10,800 10,600 10,400 10,200 10,000 9,800 9,600 9,400 9,200 9,000
DSM index
2,500 2,000 1,500 1,000
500
15-Dec
14-Dec
13-Dec
10-Dec
9-Dec
8-Dec
7-Dec
6-Dec
3-Dec
2-Dec
30-Nov
1-Dec
-
Qatar Markets Vol 000 - LHS
40,000
Trades (VWAP)
10,000
32,000
8,000
24,000
6,000
16,000
4,000
8,000
2,000
15-Dec
14-Dec
13-Dec
10-Dec
9-Dec
8-Dec
7-Dec
6-Dec
3-Dec
2-Dec
30-Nov
Last Pr QAR 56.20 42.80 61.90 46.00 92.00
Qa Gen Ins Reins Qa Meat&Livestk Islamic Fin Sec Al Ahli Bk Qatar Qatar Navigation Top Losers Company
-
1-Dec
-
Top Gainers Company
Qa Cinema & Film Medicare Group Qatar Oman Inves Qa Islamic Ins Salam Intl Inv
Qatar Index (Intraday) 9,820 9,800 9,780
Top Movers Company
9,760
9,740
Masraf Al Rayan Qa Gas Transport Vodafone Qatar Barwa Real Est Mazaya Qatar
9,720
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
9,680
9:00 AM
9,700
---Change--QAR 3.80 1.70 1.90 1.10 1.40
% 7.3 4.1 3.2 2.4 1.5
Vol '000 3 1 0 13 42
Last Pr QAR 34.20 109.10 11.41 64.00 11.24
---Change--QAR % (3.80) (10.0) (6.00) (5.2) (0.57) (4.8) (2.90) (4.3) (0.31) (2.7)
Vol '000 3 59 30 0 42
Last Pr QAR 34.20 23.00 10.90 38.30 13.60
---Change--QAR % 0.15 0.4 0.03 0.1 (0.10) (0.9) 0.30 0.8 0.10 0.7
Vol '000 1,856 818 449 414 201
Qatar - Performance and Valuation of Major Listed Companies Company QNB
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
LCY
('000)
bn
%
%
LCY
LCY
---2014---
Low ROA
------------Valuation---------
ROE
DivYld
PBV
PER
PER*
%
%
2014
2014
2014
2015E
160.50
83
30.9
0.5
-24.6
225.000
158.200
2.2
18.9
4.4
2.0
10.7
9.7
Industries Qatar
99.00
128
16.5
1.0
-41.1
178.200
96.000
17.3
18.8
7.1
1.8
9.4
10.0
Ezdan Real Estate
14.95
142
10.9
-0.3
0.2
21.780
13.100
3.2
4.6
2.7
1.3
29.2
27.8
Al Rayan
34.20
1,856
7.0
0.4
-22.6
51.700
33.700
2.7
18.2
5.1
2.3
12.8
11.9
Qatar Islamic Bk
107.00
56
6.9
0.9
4.7
121.000
84.500
1.8
12.2
4.0
2.0
15.8
14.0
Q. Elec.& Water
204.00
17
6.2
0.0
8.8
228.000
162.000
12.8
23.3
3.7
3.3
14.7
14.2
Ooredoo
70.00
94
6.2
0.7
-43.5
123.900
60.000
2.2
6.6
5.7
0.7
10.5
11.1
Qatar Insurance
81.50
30
4.1
-0.1
3.4
108.500
66.261
7.2
18.1
2.7
2.6
15.0
12.2
Barwa Real Estate
38.30
414
4.1
0.8
-8.6
54.400
35.250
7.5
18.5
5.7
0.9
5.4
5.1
CBQ
45.40
119
4.1
1.1
-27.1
65.455
43.550
1.6
11.2
7.0
0.9
7.9
7.4
Qatar Gas (Nakilat)
23.00
818
3.5
0.1
-0.4
25.300
19.310
2.9
22.0
5.2
3.4
14.4
13.2
Qatar Fuel
140.00
21
3.2
0.0
-31.5
225.000
131.600
11.2
17.1
6.4
1.7
10.4
9.9
Doha Bank
44.00
122
3.1
0.5
-22.8
59.300
43.200
1.9
12.0
9.1
1.0
8.4
7.8
Qatar Navigation
92.00
42
2.9
1.5
-7.5
109.900
81.200
6.1
8.0
5.9
0.8
10.0
8.9
Qatar Intl.Islamic Bk
61.30
14
2.5
1.0
-25.0
90.100
60.500
2.3
15.5
6.5
1.7
11.2
11.5
Al Khaliji Bank
17.00
19
1.7
-2.3
-22.9
22.750
16.700
1.9
18.9
5.9
1.1
5.7
10.4
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
7
SICO RESEARCH
GCC MARKET WATCH
Saudi Arabia
Tadawul recovered (+1.3%) today as SABIC increased 0.4% and Al Rajhi advanced 1.8%. NCB was 0.2% higher and Samba went up 0.4%. Almarai rose 6.6%; the company is interested in buying USD 1.5bn in National Food Products Company (NFPC). BSF gained 2%, while SABB was 0.2% lower. Savola dropped 1.1% and Herfy fell 2.8%.
Saudi Markets Turnover SAR mn RHS
7,400
TASI
7,000 6,000
7,200
5,000
7,000
4,000
6,800
3,000
6,600
2,000
15-Dec
14-Dec
13-Dec
10-Dec
9-Dec
8-Dec
7-Dec
6-Dec
30-Nov
3-Dec
-
2-Dec
1,000
6,200
1-Dec
6,400
Saudi Markets 140,000 120,000 100,000 80,000 60,000 40,000 20,000 -
15-Dec
14-Dec
13-Dec
10-Dec
9-Dec
Trades (VWAP)
8-Dec
7-Dec
6-Dec
2-Dec
1-Dec
30-Nov
3-Dec
Vol 000 - LHS
350,000 300,000 250,000 200,000 150,000 100,000 50,000 -
Last Pr SAR 52.25 20.70 13.13 26.20 39.87
Sa Res & Mkting Saudi Paper Emaar Econ City Sppc Allianz Sf Top Losers Company Herfy Food Natl Gas & Ind Natl Agr Dev Savola Group Dallah Healthcare
SAUDI ARABIA Index (Intraday)
Alinma Dar Al Arkan Emaar Econ City Know Eco City Sa Basic Ind
3:30 PM
3:10 PM
2:50 PM
2:30 PM
2:10 PM
1:50 PM
1:30 PM
1:10 PM
12:50 PM
12:30 PM
12:10 PM
11:50 AM
11:30 AM
11:10 AM
Top Movers Company
10:50 AM
6,820 6,800 6,780 6,760 6,740 6,720 6,700 6,680 6,660 6,640 6,620
Top Gainers Company
---Change--SAR % 4.75 10.0 1.86 9.9 1.17 9.8 2.30 9.6 2.84 7.7
Vol '000 192 5,264 24,605 1,634 249
Last Pr SAR 84.99 24.58 28.83 46.85 65.23
---Change--SAR (2.42) (0.52) (0.34) (0.52) (0.50)
% (2.8) (2.1) (1.2) (1.1) (0.8)
Vol '000 107 152 148 877 131
Last Pr SAR 14.08 5.90 13.13 15.93 84.05
---Change--SAR 0.26 0.11 1.17 1.05 0.34
% 1.9 1.9 9.8 7.1 0.4
Vol '000 56,556 30,663 24,605 13,901 9,321
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
---2014--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2014
2014
2014
2015E
SABIC
84.05
9,321
67.2
0.4
0.7
110.500
70.250
6.9
12.6
6.5
1.6
10.8
12.9
Saudi Telecom
65.95
603
35.2
0.0
0.3
73.250
52.750
12.3
18.8
5.3
2.2
12.0
11.9
NCB
50.07
331
26.7
0.2
-8.9
72.750
48.800
2.1
19.7
2.9
2.2
11.6
11.1
Al Rajhi Bank
48.21
2,659
20.9
1.8
-6.3
69.000
46.600
2.3
17.0
3.6
1.9
11.5
11.7
Saudi Electricity
14.75
1,146
16.4
0.3
-1.0
21.000
13.800
1.2
6.3
4.7
1.0
17.0
19.8
Al Marai Company
85.44
679
13.7
6.6
11.4
98.000
69.250
7.1
15.5
1.2
4.7
30.6
25.3
Samba
20.74
1,819
11.1
0.4
-10.4
31.000
20.150
2.4
13.6
3.9
1.1
8.3
8.0
SAFCO
84.76
169
9.4
-0.2
-24.8
127.500
77.750
34.5
39.4
6.6
4.5
11.1
15.2
Riyad Bank
11.64
1,329
9.3
0.1
-31.5
18.950
11.600
2.1
12.5
6.3
1.0
8.0
8.9
Saudi British Bank
22.50
565
9.0
-0.2
-42.2
41.333
22.400
2.3
17.4
3.1
1.3
7.9
7.4
Banque Saudi Fransi
25.00
193
8.0
2.0
-20.2
40.900
24.200
2.0
14.2
4.2
1.1
8.6
7.5
Savola Group
46.85
877
6.7
-1.1
-40.5
85.000
46.400
8.1
19.9
4.8
2.5
12.1
15.0
Etihad Etisalat
29.10
431
6.0
0.7
-33.7
51.500
21.700
-1.9
(4.3)
12.9
1.2
NA
NA
Arab National Bank
21.82
738
5.8
0.4
-28.5
36.200
21.300
1.9
14.5
4.6
1.1
7.6
7.0
National Industry
10.83
2,877
1.9
0.7
-59.3
29.200
10.700
2.2
6.9
9.2
0.6
6.8
NA
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
8
SICO RESEARCH
GCC MARKET WATCH
UAE
Top Gainers Company Natl Co Bldg Mat Eshraq Properties Sharjah Islamic Methaq First Gulf Bk Top Losers Company Al Khazna Ins Co Ad Shipbldg Co. Rak Properties Ad Commercial Bk Rak Ceramics Top Movers Company Eshraq Properties Ad Commercial Bk Aldar Properties Dana Gas Buhaira Nat Ins
---Change--AED % 0.01 2.4 0.01 2.2 0.03 2.1 0.01 1.8 0.05 0.4
Vol '000 112 11,562 14 880 1,292
Last Pr AED 0.33 2.42 0.46 5.50 3.30
---Change--AED % (0.02) (5.7) (0.14) (5.5) (0.02) (4.2) (0.20) (3.5) (0.09) (2.7)
Vol '000 100 0 1,318 9,033 13
Last Pr AED 0.47 5.50 2.24 0.45 2.50
---Change--AED % 0.01 2.2 (0.20) (3.5) -
Vol '000 11,562 9,033 8,713 8,141 8,042
Top Gainers Company Gulf Navigation Damac Properties Alsalamsudan Ekttitab Hldg Co Hits Telecom Top Losers Company Db Isl Ins&Reins Emirates Nbd Mashreq Bank Takaful Emarat Ins Dfm Top Movers Company Gulf Navigation Arabtec Amlak Finance Emaar Properties Gulf Fin House
1:05 PM
12:45 PM
11:45 AM
12:25 PM
Last Pr AED 0.57 2.19 1.32 0.36 0.34
---Change--AED % 0.05 9.0 0.07 3.3 0.04 3.1 0.01 2.9 0.01 2.7
Vol '000 55,242 6,174 6 195 11,331
Last Pr AED 0.48 6.70 100.00 1.60 1.08
---Change--AED % (0.02) (4.0) (0.27) (3.9) (4.00) (3.8) (0.04) (2.4) (0.02) (1.8)
Vol '000 87 1,531 5 979 4,261
Last Pr AED 0.57 0.98 1.17 5.33 0.40
---Change--AED % 0.05 9.0 0.01 0.8 0.03 2.6 0.11 2.1 0.00 0.3
Vol '000 55,242 20,474 16,248 14,887 14,272
1:05 PM
15-Dec
14-Dec
13-Dec
10-Dec
9-Dec
8-Dec
7-Dec
6-Dec
3-Dec
30-Nov
Last Pr AED 0.42 0.47 1.48 0.57 11.40
2-Dec
1-Dec
-
15-Dec
14-Dec
13-Dec
10-Dec
9-Dec
8-Dec
7-Dec
6-Dec
3-Dec
2-Dec
1-Dec
30-Nov
2,700
500
12:45 PM
1,000 50,000
50
12:05 PM
1,500
100 2,800
12:25 PM
100,000
12:05 PM
150
11:45 AM
2,500
2,000
11:25 AM
150,000
11:05 AM
2,900
200
10:45 AM
200,000
10:25 AM
3,500
250
3,000
2,950 2,940 2,930 2,920 2,910 2,900 2,890 2,880 2,870
4,000 3,000
300 3,100
Trades (VWAP)
250,000
350
3,200
Vol 000 - LHS
300,000
400
11:25 AM
15-Dec
14-Dec
13-Dec
9-Dec
8-Dec
7-Dec
10-Dec
DUBAI Index (Intraday)
Dubai Markets DFM index
10:05 AM
Dubai Markets Turnover AED mn RHS
3,300
6-Dec
3-Dec
2-Dec
30-Nov
15-Dec
14-Dec
13-Dec
9-Dec
10-Dec
8-Dec
7-Dec
6-Dec
3-Dec
2-Dec
1-Dec
30-Nov
1-Dec
-
-
11:05 AM
50,000
10:45 AM
100,000
500
10:25 AM
150,000
1,000
9:45 AM
200,000
1,500
10:05 AM
5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 -
9:25 AM
Trades (VWAP)
9:45 AM
Vol 000 - LHS
9:05 AM
250,000
9:25 AM
300,000
2,000
8:45 AM
2,500
4,035 4,030 4,025 4,020 4,015 4,010 4,005 4,000 3,995 3,990 3,985
9:05 AM
4,300 4,250 4,200 4,150 4,100 4,050 4,000 3,950 3,900 3,850
ABUDHABI Index (Intraday)
Abu Dhabi Markets
ADSM index
8:45 AM
Abu Dhabi Markets Turnover AED mn RHS
DFM ended 0.1% higher; Emaar increased 2.1% and Damac advanced 3.3%. Arabtec gained 0.8% and DSI was up 1.6%. DIB was 0.2% higher and GFH closed 0.3% higher, while ENBD dropped 3.9%. Aramex declined 1% and Du decreased 0.6%. Emaar Malls fell 1.2%. Nationals were net sellers. ADX decreased 0.3% driven by ADCB falling 3.5% and Taqa declining 2.3%. UNB was 1.1% lower, ADIB dropped 1.4% and NBAD was down 0.3%, while FGB gained 0.4% and SIB advanced 2.1%. Eshraq was 2.2% higher. Nationals 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
---2014--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2014
2014
2014
2015E
Etisalat
15.70
2,018
37.2
0.0
57.7
16.500
9.409
8.3
19.4
4.1
3.2
15.4
18.1
First Gulf Bank
11.40
1,292
14.0
0.4
-22.6
16.077
11.050
2.8
17.2
7.6
1.5
9.1
9.0
NBAD
7.70
256
10.9
-0.3
-39.5
12.818
7.550
1.6
15.4
4.7
1.1
7.2
7.1
Emaar
5.33
14,887
10.4
2.1
-26.6
8.390
4.880
4.7
9.7
2.8
1.2
11.6
8.5
Emirates NBD
6.70
1,531
10.1
-3.9
-24.6
10.950
6.080
1.5
11.6
5.2
0.8
7.2
5.7
Emaar Mall
2.53
3,827
9.0
-1.2
-5.6
3.500
2.300
8.4
16.1
NA
2.4
24.4
19.1
ADCB
5.50
9,033
8.4
-3.5
-21.8
8.910
5.050
2.1
15.8
6.8
1.2
7.6
6.3
DU
4.97
170
6.2
-0.6
0.5
5.484
3.875
12.4
28.2
6.4
2.9
10.8
10.8
Dubai Islm Bank
5.50
4,458
5.9
0.2
-20.3
7.670
4.850
2.2
16.7
7.3
1.4
8.2
7.8
Aldar Properties
2.24
8,713
4.8
0.0
-15.5
3.010
1.890
5.4
12.9
4.0
1.0
7.9
7.6
Damac Properties
2.19
6,174
3.3
3.3
N/A
3.518
1.471
21.6
93.3
4.2
2.7
3.7
3.8
Union National Bk
4.30
408
3.2
-1.1
-25.9
7.150
4.220
2.2
12.5
5.8
0.7
5.9
5.4
DFM
1.08
4,261
2.4
-1.8
-46.3
2.240
1.050
8.8
9.3
6.5
1.0
11.4
20.9
Arabtec
0.98
20,474
1.2
0.8
-64.8
3.181
0.930
1.6
3.7
NA
0.8
21.1
5.2
AD Nat Engy (Taqa)
0.43
447
0.7
-2.3
-46.3
0.900
0.360
-2.5
(34.4)
NA
0.5
NA
2.3
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
9
SICO RESEARCH
GCC MARKET WATCH
NOTES
Contact Details BMB Centre, 1 Floor P.O Box 1331, Diplomatic Area Manama Kingdom of Bahrain
* PER 2015E : 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 2015 (based on results announced so far) 3. SICO estimates based on past performance and normalized operations 4. Assumption of status-quo of profits in 2014 where the none of the above is available
2014 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 2015. 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.
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