Jul 10, 2017 - DAX. 12,427.8. 0.3. 8.2. NIKKEI. 20,081.0. 0.8. 5.1. MSCI EM. 1,002.5. (0.4). 16.3. Source: Bloomberg @Ju
GCC Market Watch
July 10, 2017
GCC Market Watch
Regional Markets Today Country
Current
%Chg 1D
%Chg YTD
Bahrain (BAX)
1,308.3
(0.1)
7.2
Kuwait (KWSE)
6,748.5
0.4
17.4
Oman (MSI)
5,158.8
0.5
(10.8)
Qatar (DSMI)
8,995.1
1.0
(13.8)
S.Arabia (TASI)
7,236.9
1.0
0.4
UAE (DFM)
3,417.9
0.4
(3.2)
UAE (ADSM)
4,398.0
(0.3)
(3.3)
97.9
(0.3)
(1.5)
S&P GCC Source: Bloomberg
Regional market wrap-up GCC Markets traded mostly in green. Tadawul was 1% higher; SABIC gained 0.7% and NCB increased 1.9%. DFM ended (+0.4%) led by real estates in green; Damac (+3.6%) and Emaar Malls (+2.1%). ADX was 0.3% lower led by ADCB (2.4%) and FAB (-0.5%). DSM closed in green (+1%) with IQ up 1.7% and QNB 1.9% higher. KWSE was up 0.4% with KFH (+0.6%) and ZAIN (+1.2%). MSM increased 0.5% led mainly by NBO (+1%), Ooredoo Oman (+0.9%) and Omantel (+3%). BHB closed in red (-0.1%) with NBB (-0.8%) and GFH (-0.9%).
Note: S&P GCC index as of previous day
In the news…
CDS-5years Dubai
Bahrain
AbuDhabi Qatar KSA
Current
133
254
64
125 113
Previous day
133
253
61
120 112
Week ago
132
255
61
121 117
Month ago
131
240
50
109 108
Year ago
178
390
81
102 173
Source: Bloomberg as of LTD
Extra reports SAR 43.4mn in 2Q earnings; beats consensus (SAR 19mn) by huge margin. The beat was mainly due to increase in sales at SAR 1,014mn (+15% YoY) and also better margins on some products and services and lower SG&A costs. The beat was across the line and without any one-offs. Gross profit was at SAR 172.7mn (+20% YoY). Source: Company Announcement, SICO Research
BSF reports a dividend of SAR 1.05/share in 1H17 much higher than SAR 0.55/share disbursed in 1H16 and higher than our expectation of SAR 0.6/share. Source: Company Announcement
SABIC started commercial operations at its synthetic rubber ethylenepropylene-diene-monomer unit, as well as the thermoplastic specialty polymers and halobutyl rubber units at full capacity at Al-Jubail Petrochemical Company (KEMYA) joint venture plant. The financial impact of the commencement of operations would show on the company’s results in 3Q17, the company said in a bourse statement. The KEMYA rubber plant which cost USD 3.4bn is a JV between SABIC and Exxon Chemical Arabia. The project will supply over 400,000 metric tons of rubber annually, including thermoplastic polymers and carbon black for domestic markets, the Middle East and Asia, according to the statement. Source: Argaam
International Indices
GCC- Equities
Country
Current
%Chg 1D
%Chg YTD
DJIA
21,414.3
0.4
8.4
S&P
2,425.2
0.6
8.3
NASDAQ
6,153.1
1.0
14.3
FTSE
7,347.6
(0.0)
2.9
DAX
12,427.8
0.3
8.2
NIKKEI
20,081.0
0.8
5.1
1,002.5
(0.4)
16.3
MSCI EM
Source: Bloomberg @Jul-10 03:11 PM
Oil Price Trend
Jan-17
May-17
Sep-16
May-16
Jan-16
Sep-15
May-15
Jan-15
Sep-14
Jan-14
May-14
Sep-13
Brent Future Contract
140 120 100 80 60 40 20
GCC Market Statistics
Commodity and Currency Monitor Current
SICO Research
OPEC Basket
%Chg 1D
45.11
(3.0)
%Chg YTD
Country
(15.4)
Brent Future
46.20
(1.1)
(18.7)
Saudi
Nymex 1M Fut
43.72
(1.2)
(18.6)
UAE
Gold Spot
1,211.0
(0.0)
5.0
USD / Yen
114.14
(0.1)
(2.1)
Euro / USD
1.1386
(0.2)
8.0
Kuwait Qatar
Mcap
Vol
Turnover
Trades
$ bn
mn shr
$ mn
VWAP
16A
P/E (x) 17E
P/B(x) D/Yld(%) ROE(%) 16A
16A
16A
454.3
210.7
866.7
66,895
18.3
16.0
1.7
3.2
10.3
206.7
250.4
110.1
4,196
14.0
12.2
1.5
4.3
11.2
81.7
88.7
45.4
3,212
14.3
13.9
1.1
3.5
8.0
129.0
8.3
91.5
2,876
12.3
11.1
1.4
3.8
12.6
Bahrain
20.6
2.0
1.2
50
9.9
10.3
0.9
4.6
8.8
Source: Bloomberg @Jul-10 03:11 PM
Oman
19.5
7
4.6
350
8.9
8.9
1.0
5.1
11.2
GCC
912
567
1,120
77,579
13.7
12.8
1.5
3.6
10.3
Raneem Seroor +973 -17515000 (extn - 5096)
[email protected]
Source: SICO Research, Bloomberg, Reuters, Zawya
© SICO 2017 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 SABIC (KSA)
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2016--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2016
2016
2016
2017E
101.48
4,113
81.2
0.7
10.9
105.40
76.00
5.6
11.0
3.9
1.9
17.0
15.0
Etisalat (UAE)
17.45
761
41.3
0.6
-7.2
20.20
17.10
6.6
19.6
4.6
3.6
18.0
17.9
STC (KSA)
73.06
344
39.0
-0.4
0.7
78.90
51.00
8.6
14.2
5.5
2.4
17.1
16.3
127.00
1,436
32.2
1.9
-14.2
157.27
121.70
2.0
21.7
2.5
2.2
9.5
8.7
Al Rajhi (KSA)
64.44
3,595
27.9
0.5
2.1
71.70
48.60
2.5
16.5
3.5
2.0
12.9
12.1
NCB
51.03
988
27.2
1.9
19.7
58.00
32.00
2.1
17.4
3.1
1.9
11.0
10.0
Saudi Electric (KSA)
23.57
1,479
26.2
1.0
4.4
26.05
14.30
0.6
3.5
3.0
1.6
46.5
32.3
Inds Qatar (Qatar)
95.00
95
15.8
1.7
-19.1
122.00
91.10
8.3
8.8
4.2
1.7
19.5
14.0
Samba (KSA)
24.75
367
13.2
3.9
1.6
27.10
15.90
2.1
12.1
3.8
1.2
9.9
9.9
0.69
739
12.6
0.1
10.7
0.72
0.52
1.2
10.4
4.6
1.2
12.3
11.8
QNB (Qatar)
NBK (Kuw)
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
GCC Telecom and Transportation Universe Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
High
Low
ROA
ROE
DivYld
PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2016
2016
2016
2017E
20.20
17.10
6.6
19.6
4.6
3.6
18.0
17.9
---2016---
------------Valuation---------
Etisalat (UAE)
17.45
761
41.3
0.6
STC (KSA)
73.06
344
39.0
-0.4
0.7
78.90
51.00
8.6
14.2
5.5
2.4
17.1
16.3
Ooredoo (Qatar)
91.00
83
8.0
-0.8
-10.6
116.10
88.00
2.4
10.0
3.8
1.3
13.3
11.4
DU (UAE)
5.25
326
6.5
0.4
-15.3
6.99
5.20
9.6
22.4
10.5
3.1
13.7
13.3
ZAIN (Kuw)
0.42
2,768
5.7
1.2
1.7
0.52
0.32
4.5
10.2
NA
1.1
10.4
12.2
20.69
384
4.2
0.8
-13.8
29.80
16.40
-0.5
(1.3)
NA
1.0
NA
NA
Omantel (Oman)
1.19
146
2.3
3.0
-21.5
1.69
1.10
14.4
20.8
9.2
1.5
7.6
8.8
NMTC (Ooredoo)
1.10
7
1.9
1.1
-8.3
1.38
1.00
3.3
7.1
9.0
0.9
11.9
10.9
Etihad Etisalat (KSA)
Batelco (Bah) DP World (UAE)
-7.2
---52 Week---
0.24
-
1.0
0.0
-16.8
0.31
0.24
3.8
7.4
10.5
0.8
10.5
8.6
21.10
121
17.5
-1.8
20.5
23.85
15.53
NA
NA
NA
NA
NA
NA
Agility (Kuw)
0.78
998
3.3
4.1
38.4
0.81
0.40
4.0
6.5
3.7
1.0
16.0
19.7
Air Arabia (UAE)
1.04
18,173
1.3
2.0
-21.8
1.49
0.96
4.1
9.4
8.7
0.9
9.9
11.0
Aramex (UAE)
5.36
2,348
2.1
0.0
31.7
5.50
3.02
12.4
19.5
3.1
3.5
18.4
19.3
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
---2016--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2016
2016
2016
2017E
127.00
1,436
32.2
1.9
-14.2
157.27
121.70
2.0
21.7
2.5
2.2
9.5
8.7
FAB (UAE)
10.20
2,477
30.3
-0.5
2.1
11.55
8.30
1.2
13.2
2.1
2.8
22.2
24.7
Al Rajhi (KSA)
64.44
3,595
27.9
0.5
2.1
71.70
48.60
2.5
16.5
3.5
2.0
12.9
12.1
NCB
51.03
988
27.2
1.9
19.7
58.00
32.00
2.1
17.4
3.1
1.9
11.0
10.0
Samba (KSA)
24.75
367
13.2
3.9
1.6
27.10
15.90
2.1
12.1
3.8
1.2
9.9
9.9
0.69
739
12.6
0.1
10.7
0.72
0.52
1.2
10.4
4.6
1.2
12.3
11.8
NBK (Kuw) ENBD (UAE)
8.00
1,258
12.1
-1.8
-5.8
9.00
7.60
1.6
15.5
5.0
1.0
6.7
5.3
Saudi British (KSA)
25.59
138
10.2
1.8
2.4
28.40
16.40
2.1
13.1
3.0
1.2
9.9
9.0
Saudi Fransi (KSA)
31.01
761
10.0
7.7
19.2
32.10
18.00
1.8
12.3
3.7
1.3
10.6
9.7
0.49
2,042
8.9
0.6
-0.8
0.57
0.40
1.0
9.2
3.4
1.4
15.4
14.4
Riyad Bk (KSA)
10.83
799
8.7
0.7
-6.2
11.80
8.55
1.5
9.0
6.0
0.9
9.7
8.3
Masraf AlRayan (Qatar)
39.85
458
8.2
0.8
6.0
45.40
33.05
2.4
16.6
5.0
2.4
14.4
15.6
QISB (Qatar)
89.00
29
5.8
0.8
-14.3
117.00
86.90
1.6
15.6
5.3
1.5
9.8
10.0
Arab Nat Bk (KSA)
21.52
189
5.7
2.0
-2.6
23.20
14.25
1.7
12.6
4.2
0.9
7.5
8.0
AUB (Bah)
0.68
316
5.6
0.0
16.9
0.79
0.57
1.7
16.3
5.5
1.6
9.8
9.6
ADIB (UAE)
3.51
497
3.0
0.0
-7.6
4.00
3.40
1.7
20.2
6.9
1.1
5.7
7.5
CBQ (Qatar)
29.65
136
2.7
-0.3
-4.2
43.09
28.10
0.4
3.1
NA
0.6
19.3
10.8
KFH (Kuw)
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
---2016--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2016
2016
2016
2017E
101.48
4,113
81.2
0.7
10.9
105.40
76.00
5.6
11.0
3.9
1.9
17.0
15.0
Inds Qatar (Qatar)
95.00
95
15.8
1.7
-19.1
122.00
91.10
8.3
8.8
4.2
1.7
19.5
14.0
Yansab (KSA)
53.69
146
8.1
0.6
-0.6
61.75
39.90
11.2
14.6
5.6
1.9
13.1
14.6
Safco (KSA)
63.81
172
7.1
0.6
-14.5
82.00
58.50
12.1
14.4
3.9
3.8
25.3
18.9
Kayan (KSA)
9.13
5,665
3.7
1.0
3.3
9.85
5.05
0.3
1.1
NA
NA
101.7
35.0
Petrorabigh (Saudi)
12.09
606
2.8
0.9
2.8
15.10
8.65
0.1
0.4
NA
1.3
288.9
76.6
Nakilat (Qatar)
18.00
500
2.8
0.6
-22.0
25.20
15.21
3.1
19.7
5.5
1.9
10.6
9.8
Tasnee (KSA)
14.31
1,073
2.6
1.3
-18.0
20.00
11.80
0.6
3.2
NA
1.2
37.6
17.8
Sahara Petro (KSA)
13.30
413
1.6
0.5
-9.8
15.90
8.75
4.7
7.4
5.6
1.0
14.0
15.0
Sipchem (KSA)
14.12
417
1.4
-0.1
-25.3
19.75
11.80
0.4
1.2
4.6
0.9
73.9
16.9
0.69
16,308
1.3
-1.4
27.8
0.77
0.38
0.8
1.1
NA
0.5
39.7
30.0
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
---2016--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2016
2016
2016
2017E
Emaar (UAE)
7.74
3,124
15.1
0.0
8.6
8.08
6.33
6.6
13.2
1.9
1.3
10.6
9.5
Ezdan (Qatar)
12.07
254
8.8
-1.2
-20.1
20.24
10.72
3.7
6.0
4.1
1.1
17.7
17.3
Damac (UAE)
3.43
1,814
5.7
3.6
35.6
3.49
1.91
15.4
32.9
4.4
1.6
NA
NA
Aldar Properties (UAE)
2.33
7,252
5.0
-0.4
-11.4
2.99
2.10
7.8
13.3
4.7
0.8
6.6
7.1
Arabtec Hold. (UAE)
3.40
20,035
4.3
-2.0
-36.3
6.48
2.73
-26.4
(108.7)
NA
5.4
NA
NA
Saudi Cem (KSA)
51.40
53
2.1
-0.6
-27.8
71.75
47.00
20.6
27.6
5.4
2.4
8.7
15.4
Southern Cem (KSA)
54.00
32
2.0
0.0
-34.4
83.50
49.10
20.3
27.1
8.8
2.3
8.6
14.6
Dar Al Arkan (KSA)
6.09
103,993
1.8
-4.1
-1.1
7.40
4.45
1.0
1.4
NA
0.4
26.2
18.8
Taiba (KSA)
43.28
36
1.7
0.7
7.7
46.80
31.30
5.6
6.5
3.7
1.7
26.2
26.2
United Devt (Qatar)
17.07
733
1.7
0.5
-17.3
22.94
16.50
3.3
5.8
7.3
0.6
9.7
8.8
Kuwait Cem (Kuw)
0.46
-
1.2
0.0
12.2
0.53
0.37
6.6
10.4
4.2
1.8
17.5
17.5
Qat Natl Cem (Qatar)
66.50
31
1.1
2.5
-14.9
86.18
60.10
13.5
16.0
6.0
1.3
8.3
7.4
Yamamah Cem (KSA)
17.60
116
1.0
-0.3
-23.0
27.80
15.55
9.2
9.9
5.7
1.0
9.7
15.0
Deyaar (UAE)
0.52
8,822
0.8
1.4
-15.9
0.68
0.45
3.5
4.5
NA
0.6
13.9
13.9
Saudi Real Est (KSA)
22.37
501
0.7
2.9
-16.0
28.00
14.80
1.4
2.7
4.5
0.8
29.3
13.2
Raysut Cem (Oman)
1.02
-
0.5
0.0
-31.4
1.63
0.99
10.1
13.5
6.4
1.3
9.8
9.2
Drake & Scull (UAE)
0.38
15,347
0.2
-1.0
-20.0
0.58
0.33
-9.7
(38.4)
NA
0.5
NA
NA
Nass Corp (Bah)
0.13
12
0.1
-2.2
9.2
0.15
0.10
2.5
5.4
3.7
0.5
9.5
6.4
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
---2016--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2016
2016
2016
2017E
Almarai (KSA)
84.13
142
17.9
1.9
22.8
98.30
51.50
7.4
16.6
1.1
5.2
32.4
31.3
Savola (KSA)
46.46
420
6.6
3.8
15.8
51.00
27.80
-1.8
(4.7)
1.6
2.9
NA
22.6
144.91
119
3.5
2.0
25.5
149.00
81.00
29.2
48.7
4.9
8.5
17.7
17.2
2.40
-
3.4
0.0
-7.7
2.70
2.14
8.5
18.1
4.1
3.3
16.4
15.6
Jarir (KSA) Kt. Foods (Kuw) AlHokair (KSA)
43.53
419
2.4
2.0
18.3
47.50
20.20
4.3
11.7
NA
3.3
29.0
18.2
Othaim (KSA)
116.00
33
1.4
0.7
17.4
116.60
63.00
0.0
29.5
NA
4.2
22.9
20.1
Sadafco (KSA)
124.40
21
1.1
0.3
-0.1
161.75
111.00
NA
28.0
3.2
3.4
13.1
13.3
Agthia (UAE)
5.37
81
0.9
-1.1
-24.4
7.90
5.10
10.7
15.9
2.3
2.0
12.7
14.0
Nadec (KSA)
27.87
347
0.6
-0.1
16.3
36.20
16.50
2.6
7.2
NA
1.7
23.6
18.7
0.89
5
0.4
0.0
27.4
0.94
0.58
18.8
24.1
5.0
2.2
9.1
9.1
Oman Flour (Oman)
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
3
SICO RESEARCH
GCC MARKET WATCH
Bahrain
BHB closed in red (-0.1%) with NBB (-0.8%) and GFH (0.9%). BBK was down 0.5% and KHCB fell 2.8%. Nass ended 2.2% lower. Alba gained 0.8% and Bahrain Duty Free was up 0.7%. The most traded stock today was Al Salam Bank with 671K shares traded.
Bahrain Markets BSE index
4.50 4.00 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00
10-Jul
9-Jul
6-Jul
5-Jul
4-Jul
3-Jul
2-Jul
29-Jun
27-Jun
26-Jun
25-Jun
28-Jun
Turnover USD mn RHS
1,322 1,320 1,318 1,316 1,314 1,312 1,310 1,308 1,306 1,304 1,302
Bahrain Markets Vol 000 - RHS
8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 -
10-Jul
9-Jul
6-Jul
5-Jul
4-Jul
3-Jul
Trades (VWAP)
2-Jul
29-Jun
28-Jun
27-Jun
26-Jun
25-Jun
90 80 70 60 50 40 30 20 10 -
ALBA Bah Duty Free N/A N/A N/A Top Losers Company Khaleeji Comm Bk Nass Corp Gulf Fin House $ Natl Bank Bah BBK
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
1,312 1,311 1,311 1,310 1,310 1,309 1,309 1,308 1,308 1,307 1,307
Top Gainers Company
Al Salam Bk Khaleeji Comm Bk Ahli United Bk $ ALBA BBK
Last Pr BD 0.49 0.77 N/A N/A N/A
---Change--BD 0.00 0.01 N/A N/A N/A
% 0.8 0.7 N/A N/A N/A
Vol '000 218 2 N/A N/A N/A
Last Pr BD 0.11 0.13 0.58 0.66 0.39
---Change--BD (0.00) (0.00) (0.01) (0.01) (0.00)
% (2.8) (2.2) (0.9) (0.8) (0.5)
Vol '000 437 12 13 4 214
Last Pr BD 0.091 0.11 0.68 0.49 0.39
---Change--BD % (0.00) (2.8) 0.00 0.8 (0.00) (0.5)
Vol '000 671 437 316 218 214
Bahrain - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--- ---52 Week--Last
YTD
High
Low
ROA
---2016--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2016
2016
2016
2017E
AUB $ **
0.68
316
5.6
0.0
16.9
0.79
0.57
1.7
16.3
5.5
1.6
9.8
9.6
NBB
0.66
4
2.0
-0.8
0.1
0.70
0.63
1.9
14.9
3.8
1.8
13.0
12.4
ALBA
0.49
218
1.8
0.8
53.1
0.49
0.26
4.1
5.0
NA
0.7
14.4
12.0
GFH $
0.58
13
1.4
-0.9
25.1
0.75
0.21
7.3
12.2
4.2
0.7
6.6
67.8
BBK
0.39
214
1.1
-0.5
-2.5
0.40
0.33
1.5
15.1
7.7
1.1
7.5
7.5
Batelco
0.24
-
1.0
0.0
-16.8
0.31
0.24
3.8
7.4
10.5
0.8
10.5
8.6
ABC $
0.29
-
0.9
0.0
-21.6
0.40
0.28
0.6
4.8
10.3
0.2
4.9
4.8
UGB
0.39
-
0.9
0.0
N/A
0.39
0.30
0.2
1.6
NA
2.2
137.9
137.9
Al Salam
0.09
671
0.5
0.0
-22.9
0.13
0.08
1.0
5.1
5.5
0.6
12.0
10.8
Al Baraka
0.42
-
0.5
0.0
-10.0
0.49
0.35
0.6
11.5
2.3
0.4
3.3
3.1
Ithmaar Bank $
0.15
66
0.4
0.0
16.0
0.26
0.10
0.0
0.2
NA
1.0
-
-
Bah Islamic Bk
0.14
-
0.4
0.0
13.8
0.15
0.08
0.8
7.5
3.6
1.2
16.8
15.7
BCFC
0.73
4
0.3
0.0
9.0
0.74
0.65
6.5
17.4
6.8
1.0
6.0
5.7
Seef Properties
0.24
41
0.3
0.0
13.0
0.25
0.19
7.2
8.0
5.7
0.8
10.2
11.4
Zain Bahrain
0.10
-
0.1
0.0
N/A
0.12
0.09
3.6
6.6
5.2
0.5
8.3
8.4
Esterad
0.11
-
0.0
0.0
-37.9
0.19
0.11
1.8
2.2
4.8
0.4
18.7
18.7
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
6,800
KSE Index
50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 -
6,750 6,700 6,650 6,600 6,550 6,500
10-Jul
9-Jul
6-Jul
5-Jul
4-Jul
3-Jul
2-Jul
29-Jun
28-Jun
27-Jun
26-Jun
25-Jun
6,450
KWSE was up 0.4% with KFH (+0.6%) and ZAIN (+1.2%). Agility rose 4.1% and Mabanee was up 0.7%. AUB Kuwait declined 0.5% and Burgan Bank was 0.6% lower.
Kuwait Markets Vol 000 - LHS
200,000
Trades (VWAP)
4,000 Top Gainers Company
Last Pr KWD 0.049 0.032 0.040 0.089 0.899
Nat Cleaning 2,000 Credit Rating Kwt Fin & Inv Burgan Drilling Eyas Education -
10-Jul
9-Jul
6-Jul
5-Jul
4-Jul
3-Jul
2-Jul
29-Jun
28-Jun
27-Jun
26-Jun
25-Jun
-
Top Losers Company Kwt Nat Cinema Glf Franchising Yiaco Medical Co Warba Ins Co Gulf Ins Co
KUWAIT Index (Intraday) 6,760 6,750 6,740
Top Movers Company
6,730
6,720
Alimtiaz Invest Co Abyaar Real Est Aayan Leasing Kuwait Remal RE Kwt Projects Co
6,710
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
6,690
8:45 AM
6,700
---Change--KWD 0.008 0.005 0.005 0.009 0.049
% 19.0 18.1 13.6 11.3 5.8
Vol '000 372 0 16 0 79
Last Pr KWD 1.350 0.060 0.161 0.072 0.501
---Change--KWD % (0.320) (19.2) (0.010) (14.3) (0.021) (11.5) (0.006) (7.5) (0.029) (5.5)
Vol '000 3 9 5 0 3
Last Pr KWD 0.171 0.024 0.040 0.080 0.333
---Change--KWD % 0.01 3.0 0.00 3.0 0.00 3.4 0.00 3.9 (0.00) (0.6)
Vol '000 19,738 6,496 4,409 4,279 3,411
Kuwait - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--- ---52 Week--Last
YTD
High
Low
ROA
---2016--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2016
2016
2016
2017E
NBK
0.69
739
12.6
0.1
10.7
0.72
0.52
1.2
10.4
4.6
1.2
12.3
11.8
KFH
0.49
2,042
8.9
0.6
-0.8
0.57
0.40
1.0
9.2
3.4
1.4
15.4
14.4
AUB Kuwait
0.21
1,994
5.9
-0.5
17.4
0.25
0.17
NA
NA
NA
NA
NA
NA
ZAIN
0.42
2,768
5.7
1.2
1.7
0.52
0.32
4.5
10.2
NA
1.1
10.4
12.2
Kt. Food (Americana)
2.40
-
3.4
0.0
-7.7
2.70
2.14
8.5
18.1
4.1
3.3
16.4
15.6
Agility (PWC)
0.78
998
3.3
4.1
38.4
0.81
0.40
4.0
6.5
3.7
1.0
16.0
19.7
Boubyan Bank
0.41
275
3.1
0.5
8.5
0.43
0.35
1.3
11.2
1.2
2.1
21.5
21.5
Gulf Bank
0.24
112
2.5
0.8
-0.4
0.30
0.22
0.8
7.8
2.8
1.3
17.0
15.7
Mabanee
0.76
666
2.4
0.7
-6.1
0.87
0.70
7.9
15.4
1.3
2.1
13.9
13.3
Burgan Bank
0.33
57
2.4
-0.6
13.6
0.34
0.28
1.0
10.8
1.5
1.1
9.9
8.1
ooredoo
1.10
7
1.9
1.1
-8.3
1.38
1.00
3.3
7.1
9.0
0.9
11.9
10.9
Al Ahli Bank
0.33
-
1.8
0.0
9.0
0.35
0.29
0.6
4.9
3.0
1.0
19.6
17.6
CBK
0.31
72
1.8
0.6
-16.6
0.46
0.27
1.0
7.0
4.4
0.9
12.8
14.6
Kuwait Inv Pro Co
0.33
3,411
1.7
-0.6
-33.4
0.58
0.33
0.6
8.3
6.9
0.8
9.3
7.5
Viva Kuwait
0.80
30
1.4
-2.8
-14.3
0.95
0.79
15.0
37.1
1.3
3.3
10.0
10.0
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
5
SICO RESEARCH
GCC MARKET WATCH
Oman Oman Markets Turnover USD mn RHS
5,180
MSM index
8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0
5,160 5,140 5,120 5,100
5,080 5,060
10-Jul
9-Jul
6-Jul
5-Jul
4-Jul
3-Jul
2-Jul
29-Jun
28-Jun
27-Jun
26-Jun
5,040
25-Jun
MSM increased 0.5% led mainly by NBO (+1%), Ooredoo Oman (+0.9%) and Omantel (+3%).
Oman Markets 700 600 500 400 300 200 100 -
10-Jul
9-Jul
6-Jul
5-Jul
4-Jul
Trades (VWAP)
3-Jul
2-Jul
29-Jun
27-Jun
26-Jun
25-Jun
28-Jun
Vol 000 - LHS
16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 -
Top Gainers Company Om Natl Eng Inv Omantel Glf Inv Serv United Finance Al Anwar Cer Til Top Losers Company Oman Invest &Fin Jazeera Steel N/A N/A N/A
Oman Index (Intraday)
Bank Muscat Om Fisheries Co Bank Nizwa Ooredoo Oman Al Jazeira Svc
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
5,165 5,160 5,155 5,150 5,145 5,140 5,135 5,130 5,125 5,120 5,115
Last Pr OMR 0.14 1.19 0.08 0.14 0.13
---Change--OMR 0.01 0.04 0.00 0.00 0.00
% 8.7 3.0 2.5 2.2 1.6
Vol '000 59 146 160 50 94
Last Pr OMR 0.18 0.25 N/A N/A N/A
---Change--OMR (0.004) (0.002) N/A N/A N/A
% (2.2) (0.8) N/A N/A N/A
Vol '000 216 34 N/A N/A N/A
Last Pr OMR 0.38 0.13 0.10 0.46 0.16
---Change--OMR 0.00 -
% 0.9 -
Vol '000 2,540 860 415 395 359
Oman - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2016--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2016
2016
2016
2017E
Bank Muscat
0.38
2,540
2.6
0.0
-16.4
0.47
0.36
1.5
12.0
6.1
0.7
5.8
5.9
Omantel
1.19
146
2.3
3.0
-21.5
1.69
1.10
14.4
20.8
9.2
1.5
7.6
8.8
Bank Dhofar
0.23
-
1.0
0.0
5.6
0.25
0.19
1.3
12.2
NA
0.9
8.1
7.5
OMINVEST
0.51
10
0.8
0.0
9.1
0.53
0.44
1.0
10.4
NA
1.4
13.9
13.9
NBO
0.21
144
0.8
1.0
-7.0
0.25
0.21
1.6
13.6
7.6
0.7
5.6
5.6
Ooredoo Oman
0.46
395
0.8
0.9
-30.3
0.77
0.45
11.6
20.5
9.1
1.3
6.5
6.8
HSBC Oman
0.13
10
0.6
0.0
4.2
0.14
0.10
0.8
5.4
4.0
0.8
14.8
14.8
Ahli Bank Oman
0.17
-
0.6
0.0
-14.3
0.21
0.16
1.6
12.6
6.0
1.0
8.1
7.3
Bank Sohar
0.15
-
0.6
0.0
-0.3
0.17
0.13
0.9
7.4
NA
0.9
12.0
9.6
Raysut Cement
1.02
-
0.5
0.0
-31.4
1.63
0.99
10.1
13.5
6.4
1.3
9.8
9.2
Shell Oman Mktg
1.88
-
0.5
0.0
-6.3
2.03
1.88
17.9
38.5
6.0
4.0
11.1
11.9
Oman Cement
0.45
-
0.4
0.0
-5.9
0.50
0.43
6.4
7.9
6.7
0.9
11.5
11.4
Bank Nizwa
0.10
415
0.4
0.0
14.5
0.10
0.07
0.0
0.1
NA
1.3
1,518
121.6
Salalah Port Ser
0.63
-
0.3
0.0
0.0
0.65
0.57
NA
NA
NA
NA
NA
NA
Renaissance
0.21
-
0.2
0.0
-11.7
0.30
0.20
-5.7
(27.2)
NA
0.5
NA
NA
Galfar
0.07
85
0.1
0.0
-21.3
0.11
0.07
-1.2
(8.0)
NA
0.3
NA
NA
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
6
SICO RESEARCH
GCC MARKET WATCH
Qatar
DSM closed in green (+1%) with IQ up 1.7% and QNB 1.9% higher. Qatar insurance advanced 3%. Al Rayan and QIB ended 0.8% higher each. Barwa Real Estate was up 1.7%. Ooredoo was down 0.8% and Doha Bank declined 0.7%. Nationals were net buyers.
Qatar Markets Turnover USD mn RHS
9,050
DSM index
120
9,000
100
8,950
80
8,900
60
8,850
40
8,800
10-Jul
9-Jul
6-Jul
5-Jul
4-Jul
3-Jul
2-Jul
29-Jun
26-Jun
28-Jun
-
27-Jun
20
8,700
25-Jun
8,750
Qatar Markets Vol 000 - LHS
16,000
Trades (VWAP)
6,000
4,000 8,000
2,000
10-Jul
9-Jul
6-Jul
5-Jul
4-Jul
3-Jul
2-Jul
29-Jun
28-Jun
27-Jun
26-Jun
Qa Islamic Ins Gulf Warehousing Ezdan Real Est Qa Indus Manf Co Ooredoo
Qatar Index (Intraday) 9,050 9,000
Top Movers Company
8,950
8,900
Vodafone Qatar Qa Nat Bk United Dvlpmnt Gulf Intr Serv Qa Gas Transport
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
8,850
8,800
Qatar Ins Co Qa Nat Cement Co Qa Nat Bk Barwa Real Est Industries Qatar Top Losers Company
-
25-Jun
-
Top Gainers Company
Last Pr QAR 68.10 66.50 127.00 32.45 95.00
---Change--QAR 2.00 1.60 2.40 0.55 1.60
% 3.0 2.5 1.9 1.7 1.7
Vol '000 20 31 1,436 183 95
Last Pr QAR 63.00 45.10 12.07 41.55 91.00
---Change--QAR (1.90) (0.70) (0.15) (0.45) (0.70)
% (2.9) (1.5) (1.2) (1.1) (0.8)
Vol '000 3 4 254 4 83
Last Pr QAR 8.09 127.00 17.07 21.29 18.00
---Change--QAR % (0.06) (0.7) 2.40 1.9 0.08 0.5 (0.01) (0.0) 0.10 0.6
Vol '000 2,061 1,436 733 608 500
Qatar - Performance and Valuation of Major Listed Companies Company QNB
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2016--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2016
2016
2016
2017E
127.00
1,436
32.2
1.9
-14.2
157.27
121.70
2.0
21.7
2.5
2.2
9.5
8.7
Industries Qatar
95.00
95
15.8
1.7
-19.1
122.00
91.10
8.3
8.8
4.2
1.7
19.5
14.0
Ezdan Real Estate
12.07
254
8.8
-1.2
-20.1
20.24
10.72
3.7
6.0
4.1
1.1
17.7
17.3
Al Rayan
39.85
458
8.2
0.8
6.0
45.40
33.05
2.4
16.6
5.0
2.4
14.4
15.6
Ooredoo
91.00
83
8.0
-0.8
-10.6
116.10
88.00
2.4
10.0
3.8
1.3
13.3
11.4
Qatar Islamic Bk
89.00
29
5.8
0.8
-14.3
117.00
86.90
1.6
15.6
5.3
1.5
9.8
10.0
Q. Elec.& Water
187.00
25
5.7
-0.5
-17.6
247.90
182.00
10.8
19.7
4.0
2.5
13.3
12.2
Qatar Insurance
68.10
20
4.6
3.0
-7.6
79.74
61.00
3.9
14.7
2.2
2.0
16.1
12.7
Barwa Real Estate
32.45
183
3.5
1.7
-2.4
41.80
29.00
5.6
9.0
7.7
0.7
7.9
7.9
Qatar Gas (Nakilat)
18.00
500
2.8
0.6
-22.0
25.20
15.21
3.1
19.7
5.5
1.9
10.6
9.8
108.60
17
2.7
0.6
-18.6
151.38
102.50
9.2
12.5
7.1
1.4
11.2
10.9
CBQ
29.65
136
2.7
-0.3
-4.2
43.09
28.10
0.4
3.1
NA
0.6
19.3
10.8
Qatar Navigation
74.20
52
2.3
1.6
-22.4
97.00
62.10
3.2
5.1
4.7
0.6
11.9
8.5
Qatar Intl.Islamic Bk
54.60
32
2.3
0.9
-13.1
71.50
50.50
1.9
12.9
7.3
1.2
10.5
10.9
Doha Bank
29.80
443
2.1
-0.7
-11.6
39.11
28.50
1.2
9.3
10.1
0.8
7.3
6.4
Al Khaliji Bank
13.25
46
1.3
0.8
-22.1
18.49
11.79
0.7
5.9
NA
0.7
12.4
11.0
Qatar Fuel
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
7
SICO RESEARCH
GCC MARKET WATCH
Saudi Arabia
Tadawul was 1% higher; SABIC gained 0.7% and NCB increased 1.9%. Samba advanced 3.9% and SABB was up 1.8%. BSF rallied 7.7%, as the bank reported a dividend of SAR 1.05/share for 1H17; higher than estimates. Savola rose 3.8% and Almarai gained 1.9%. Extra jumped 10%, after the company reporting SAR 43.4mn in 2Q17 earnings, above estimates of SAR 19mn by huge margin.
Saudi Markets Turnover USD mn RHS
7,600
TASI
1,200
10-Jul
9-Jul
6-Jul
5-Jul
-
4-Jul
7,000
3-Jul
200
2-Jul
400
7,100
29-Jun
600
7,200
28-Jun
800
7,300
27-Jun
7,400
26-Jun
1,000
25-Jun
7,500
Saudi Markets Vol 000 - LHS
250,000
Trades (VWAP)
200,000 150,000 100,000
50,000
9-Jul
United Electronics (Extra) Sa Res & Mkting Tihama Banque Sa Fransi Sppc Top Losers Company
10-Jul
6-Jul
5-Jul
4-Jul
3-Jul
2-Jul
29-Jun
28-Jun
27-Jun
26-Jun
-
25-Jun
Top Gainers Company
90,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 -
Dar Al Arkan Gulf Gen Coop Ins Jabal Omar Al Ahsa Dev. Assir Trading
SAUDI ARABIA Index (Intraday)
Dar Al Arkan Alinma Saudi Kayan Sppc 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
7,280 7,260 7,240 7,220 7,200 7,180 7,160 7,140 7,120 7,100
Last Pr SAR 36.90 44.70 35.74 31.01 17.69
---Change--SAR % 3.34 10.0 4.02 9.9 2.95 9.0 2.22 7.7 0.82 4.9
Vol '000 750 1,311 1,340 761 5,317
Last Pr SAR 6.09 15.31 70.47 12.36 16.98
---Change--SAR % (0.26) (4.1) (0.19) (1.2) (0.86) (1.2) (0.15) (1.2) (0.20) (1.2)
Vol '000 103,993 144 263 425 55
Last Pr SAR 6.09 14.78 9.13 17.69 9.36
---Change--SAR % (0.26) (4.1) 0.15 1.0 0.09 1.0 0.82 4.9 0.29 3.2
Vol '000 103,993 26,647 5,665 5,317 4,216
Saudi Arabia - Performance and Valuation of Major Listed Companies Company SABIC
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2016--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2016
2016
2016
2017E
101.48
4,113
81.2
0.7
10.9
105.40
76.00
5.6
11.0
3.9
1.9
17.0
15.0
Saudi Telecom
73.06
344
39.0
-0.4
0.7
78.90
51.00
8.6
14.2
5.5
2.4
17.1
16.3
Al Rajhi Bank
64.44
3,595
27.9
0.5
2.1
71.70
48.60
2.5
16.5
3.5
2.0
12.9
12.1
NCB
51.03
988
27.2
1.9
19.7
58.00
32.00
2.1
17.4
3.1
1.9
11.0
10.0
Saudi Electricity
23.57
1,479
26.2
1.0
4.4
26.05
14.30
0.6
3.5
3.0
1.6
46.5
32.3
Al Marai Company
84.13
142
17.9
1.9
22.8
98.30
51.50
7.4
16.6
1.1
5.2
32.4
31.3
Samba
24.75
367
13.2
3.9
1.6
27.10
15.90
2.1
12.1
3.8
1.2
9.9
9.9
Saudi British Bank
25.59
138
10.2
1.8
2.4
28.40
16.40
2.1
13.1
3.0
1.2
9.9
9.0
Banque Saudi Fransi
31.01
761
10.0
7.7
19.2
32.10
18.00
1.8
12.3
3.7
1.3
10.6
9.7
Riyad Bank
10.83
799
8.7
0.7
-6.2
11.80
8.55
1.5
9.0
6.0
0.9
9.7
8.3
SAFCO
63.81
172
7.1
0.6
-14.5
82.00
58.50
12.1
14.4
3.9
3.8
25.3
18.9
Savola Group
46.46
420
6.6
3.8
15.8
51.00
27.80
-1.8
(4.7)
1.6
2.9
NA
22.6
Arab National Bank
21.52
189
5.7
2.0
-2.6
23.20
14.25
1.7
12.6
4.2
0.9
7.5
8.0
Etihad Etisalat
20.69
384
4.2
0.8
-13.8
29.80
16.40
-0.5
(1.3)
NA
1.0
NA
NA
National Industry
14.31
1,073
2.6
1.3
-18.0
20.00
11.80
0.6
3.2
NA
1.2
37.6
17.8
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
8
SICO RESEARCH
GCC MARKET WATCH
UAE
Top Movers Company Dana Gas Aldar Properties Rak Properties Int Fish Farming Eshraq Properties
---Change--AED % 0.07 4.6 0.01 1.6 0.10 0.6 N/A N/A N/A N/A
Vol '000 4,165 6,116 761 N/A N/A
Last Pr AED 2.37 0.77 0.52 6.96 0.51
---Change--AED % (0.24) (9.2) (0.03) (3.8) (0.02) (3.7) (0.17) (2.4) (0.01) (1.9)
Vol '000 0 1 95 1,265 707
Last Pr AED 0.69 2.33 0.65 1.59 0.93
---Change--AED % (0.01) (1.4) (0.01) (0.4) 0.01 1.6 0.07 4.6 -
Vol '000 16,308 7,252 6,116 4,165 3,861
Top Gainers Company Marka Damac Properties Emaar Malls Air Arabia Union Prop Top Losers Company Arabtec Tabreed Emirates Nbd Almadina Fin&Inv Ekttitab Hldg Co Top Movers Company Union Prop Arabtec Air Arabia DSI Gulf Fin House
1:05 PM
12:45 PM
11:45 AM
11:25 AM
11:05 AM
10:45 AM
10:25 AM
9:45 AM
10:05 AM
9-Jul
6-Jul
5-Jul
3,380
Last Pr AED 0.72 3.43 2.45 1.04 0.94
---Change--AED % 0.03 4.8 0.12 3.6 0.05 2.1 0.02 2.0 0.02 1.7
Vol '000 2,913 1,814 1,767 18,173 57,314
Last Pr AED 3.40 2.08 8.00 0.72 0.43
---Change--AED % (0.07) (2.0) (0.04) (1.9) (0.15) (1.8) (0.01) (1.4) (0.01) (1.2)
Vol '000 20,035 1,060 1,258 3,991 1,184
Last Pr AED 0.94 3.40 1.04 0.38 2.13
---Change--AED % 0.02 1.7 (0.07) (2.0) 0.02 2.0 (0.00) (1.0) -
Vol '000 57,314 20,035 18,173 15,347 11,511
1:05 PM
4-Jul
3-Jul
10-Jul
3,390
10-Jul
9-Jul
6-Jul
5-Jul
4-Jul
3-Jul
2-Jul
29-Jun
28-Jun
27-Jun
25-Jun
10-Jul
9-Jul
6-Jul
5-Jul
4-Jul
3-Jul
2-Jul
29-Jun
28-Jun
27-Jun
25-Jun
26-Jun
Ad Shipbldg Co. Rak Cement Co Natl Co Bldg Mat Ad Commercial Bk Ad Natl Energy
-
Last Pr AED 1.59 0.65 17.45 N/A N/A
12:25 PM
-
12:45 PM
50,000
3,350
12:05 PM
100,000
20
12:25 PM
40
3,360
12:05 PM
3,370
3,380
3,410 3,400
11:45 AM
150,000
3,420
11:25 AM
60
3,390
3,430
11:05 AM
80
200,000
3,400
3,440
5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 -
10:25 AM
100
250,000
3,410
Trades (VWAP)
300,000
120
Top Losers Company
2-Jul
Vol 000 - LHS
350,000
140
26-Jun
DFM index
3,420
Int Fish Farming Rak Properties Emirates Telecom N/A N/A
DUBAI Index (Intraday)
Dubai Markets
Turnover USD mn RHS
10:45 AM
Dubai Markets
29-Jun
28-Jun
27-Jun
25-Jun
9-Jul
-
10-Jul
6-Jul
5-Jul
4-Jul
3-Jul
2-Jul
29-Jun
28-Jun
27-Jun
26-Jun
500
-
10:05 AM
50,000
9:25 AM
20
1,500 1,000
9:45 AM
100,000
9:05 AM
30
2,000
9:25 AM
150,000
-
Top Gainers Company
3,000 2,500
8:45 AM
40
10
3,430
Trades (VWAP)
200,000
50
25-Jun
Vol 000 - LHS
250,000
60
4,435 4,430 4,425 4,420 4,415 4,410 4,405 4,400 4,395 4,390 4,385 4,380
8:45 AM
70
26-Jun
4,460 4,450 4,440 4,430 4,420 4,410 4,400 4,390 4,380 4,370 4,360
ABUDHABI Index (Intraday)
Abu Dhabi Markets
ADSM index
9:05 AM
Abu Dhabi Markets Turnover USD mn RHS
DFM ended (+0.4%) led by real estates in green; Damac (+3.6%) and Emaar Malls (+2.1%). Deyaar increased 1.4%. DFM gained 0.9%. DIB and Du closed 0.4% higher each. Arabtec fell 2% and DSI was 1% lower. Foreigners were net sellers.
ADX was 0.3% lower led by ADCB (-2.4%) and FAB (-0.5%). Taqa fell 1.9% and Dana was 1.4% lower. Agthia decreased 1.1% and Aldar was 0.4% lower. Etisalat was in green (+0.6%). Nationals were net buyers.
UAE - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2016--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2016
2016
2016
2017E
Etisalat
17.45
761
41.3
0.6
-7.2
20.20
17.10
6.6
19.6
4.6
3.6
18.0
17.9
FAB
10.20
2,477
30.3
-0.5
2.1
11.55
8.30
1.2
13.2
2.1
2.8
22.2
24.7
Emaar
7.74
3,124
15.1
0.0
8.6
8.08
6.33
6.6
13.2
1.9
1.3
10.6
9.5
Emirates NBD
8.00
1,258
12.1
-1.8
-5.8
9.00
7.60
1.6
15.5
5.0
1.0
6.7
5.3
ADCB
6.96
1,265
10.6
-2.4
0.9
7.68
5.66
1.6
15.7
5.3
1.5
9.7
8.7
Emaar Mall
2.45
1,767
8.7
2.1
-6.5
3.00
2.38
7.5
11.9
4.1
2.0
17.0
15.0
Dubai Islm Bank
5.62
1,634
7.6
0.4
0.9
6.29
5.01
1.9
20.5
8.0
1.6
9.0
7.3
DU
5.25
326
6.5
0.4
-15.3
6.99
5.20
9.6
22.4
10.5
3.1
13.7
13.3
Damac Properties
3.43
1,814
5.7
3.6
35.6
3.49
1.91
15.4
32.9
4.4
1.6
5.6
5.6
Aldar Properties
2.33
7,252
5.0
-0.4
-11.4
2.99
2.10
7.8
13.3
4.7
0.8
6.6
7.1
Arabtec
3.40
20,035
4.3
-2.0
-36.3
6.48
2.73
-26.4
(109)
NA
5.4
NA
NA
Union National Bk
4.60
246
3.4
-1.5
1.3
5.20
3.82
1.5
9.4
4.3
0.8
8.4
7.2
ADIB
3.51
497
3.0
0.0
-7.6
4.00
3.40
1.7
20.2
6.9
1.1
5.7
7.5
DFM
1.16
3,108
2.5
0.9
-7.2
1.64
1.03
2.9
3.2
4.3
1.2
36.6
28.0
AD Nat Engy (Taqa)
0.51
707
0.8
-1.9
-3.8
0.65
0.44
-2.1
(123)
NA
3.5
NA
NA
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 2017E : 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 2016 where the none of the above is available
2016 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.
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