Oman. 18.7. 6.8. 3.4. 287. 9.8. 9.6. 0.9. 5.6. 8.3. GCC. 973. 470. 1100. 85629. 13.4. 12.3. 1.6. 3.7. 11.2. Source: SICO
GCC Market Watch
May 22, 2018
GCC Market Watch
Regional Markets Today Country
Current
%Chg 1D
%Chg YTD
Bahrain (BAX)
1,265.5
(0.2)
(5.0)
Kuwait (KWSE)
4,752.8
(0.3)
(3.9)
Oman (MSI)
4,579.2
(0.4)
(10.2)
Qatar (DSMI)
8,993.2
0.6
5.5
S.Arabia (TASI)
8,044.7
0.6
11.3
UAE (DFM)
2,973.1
0.9
(11.8)
UAE (ADSM)
4,526.6
1.5
2.9
105.7
0.1
6.8
S&P GCC
Source: Bloomberg, Kuwait index since 1st April (YTD)
Regional market wrap-up GCC markets traded on a mixed note. Tadawul increased 0.6% on the back of SABIC (+3.1%) and STC (+1.5%). DFM closed positive (+0.9%) with ENBD climbing 8.4%. ADX was the top gainer within the GCC region – up 1.5%; FAB gained 3.4% and ADCB (+1.5%). DSM edged higher (+0.6%), driven by QNB (+0.6%) and Qatar Islamic Bank (+2%). KWSE was down 0.3%; Agility and Burgan Bank declined 0.4% each. MSM closed 0.4% lower; Omnatel (-0.5%), Raysut (-8.7%) and Oman Cement (-0.6%). BHB declined marginally (-0.2%) with AUB losing 1.7%.
Note: S&P GCC index as of previous day
CDS-5years
In the news… Dubai
Bahrain
AbuDhabi Qatar KSA
Current
119
368
65
96
92
Previous day
115
364
64
96
93
Week ago
114
318
62
89
87
Month ago
108
281
62
87
87
Year ago
108
220
40
60
94
Source: Bloomberg as of LTD
Mouwasat has started the trial run in Mouwasat Hospital – Al Khobar. The pilot operations will run for eight weeks. The date of launching commercial operations and the relevant financial impact will be revealed, after obtaining the required regulatory approvals. Source: Argaam
Emirates NBD will buy 99.9% stake in Denizbank for USD 3.2bn. The bank’s equity is USD 3bn as on 1Q18, translating into a 1.06x-BVPS trailing and 7.7x-EPS 2017. Source: Bloomberg, Company Announcement
Arabtec’s wholly owned subsidiary, Arabtec Construction has been awarded an AED 157mn (EGP 755mn) contract for the construction of Phase III and IV of Village E “Levana” in the Uptown Cairo Master Project. Uptown Cairo is an integrated development located in the heart of Egypt’s capital. The total built up area of both phases is approximately sixty-one thousand square metres. Phase III & IV entail the construction of 128 villas along with the surrounding roadworks and infrastructure. Source: Company Announcement
The UAE’s economy will grow 2.1% this year and 3.9% next year as non-oil growth rebounds on higher government spending, particularly in Dubai, according to Moody’s Investors Service. Moody’s economic forecast is almost in line with the IMF’s projections that put growth at 2% for 2018 and 3.6% next year. Fiscal consolidation in Abu Dhabi and higher oil prices will help narrow the UAE’s fiscal deficit to 0.8% from 2.3% of GDP in 2017. The UAE's consolidated fiscal position shows a diverging path between Abu Dhabi, where broad spending cuts were enacted, and Dubai, which has continued to increase spending ahead of the World Expo 2020. Moody’s said the UAE’s stable Aa2 rating is supported by the financial backing of Abu Dhabi, large hydrocarbon reserves and high wealth levels. Source: The National
International Indices
GCC- Equities
Country
Current
%Chg 1D
%Chg YTD
DJIA
25,013.3
1.2
1.2
S&P
2,733.0
0.7
2.2
NASDAQ
7,394.0
0.5
7.1
FTSE
7,871.4
0.2
2.4
DAX
13,137.9
0.5
1.7
NIKKEI
22,960.3
(0.2)
0.9
1,136.5
(0.1)
(1.9)
MSCI EM
Source: Bloomberg @May-22 03:03 PM
Oil Price Trend Brent Future Contract
Mar-18
Nov-17
Jul-17
Mar-17
Nov-16
Jul-16
Mar-16
Jul-15
Nov-15
Mar-15
Nov-14
Jul-14
140 120 100 80 60 40 20
GCC Market Statistics
SICO Research
Commodity and Currency Monitor Current
%Chg 1D
%Chg YTD
OPEC Basket
76.21
(0.3)
18.2
Brent Future
79.54
0.4
18.9
Nymex 1M Fut
72.43
0.3
19.9
Gold Spot
1,295.2
0.4
Country
Mcap
Vol
Turnover
Trades
$ bn
mn shr
$ mn
VWAP
17A
18E
17A
17A
17A
Saudi
495.6
129.6
845.0
75,738
17.7
15.3
1.9
2.6
11.5
UAE
217.8
283.8
108.7
3,627
11.5
10.1
1.3
5.6
12.1
83.3
36.7
22.6
1,596
15.0
12.7
1.3
3.7
9.5
137.0
9.1
118.0
4,328
12.8
11.4
1.4
4.5
11.1 8.7
(0.8)
Kuwait
P/E (x)
P/B(x) D/Yld(%) ROE(%)
USD / Yen
110.86
0.1
(1.5)
Qatar
Euro / USD
1.1807
0.3
(1.8)
Bahrain
20.3
4.4
1.8
53
10.2
9.5
0.9
7.4
Oman
18.7
6.8
3.4
287
9.8
9.6
0.9
5.6
8.3
GCC
973
470
1100
85629
13.4
12.3
1.6
3.7
11.2
Source: Bloomberg @May-22 03:03 PM
Meera Reddy +973 1751 5078
[email protected]
Source: SICO Research, Bloomberg, Reuters, Zawya
© SICO Bank 2018 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
---2017--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2017
2017
2017
2018E
120.57
5,968
96.5
3.1
18.3
123.80
94.90
5.8
11.3
3.5
2.2
19.6
17.1
84.58
480
45.1
1.5
23.3
86.00
65.10
9.7
16.7
1.2
2.7
16.6
16.1
160.00
1,187
40.6
0.6
27.0
160.00
115.01
1.7
20.5
3.7
2.2
11.3
10.7
Etisalat (UAE)
16.20
731
38.4
0.9
-7.4
18.85
15.75
6.7
19.5
4.9
3.2
16.7
15.9
Al Rajhi (KSA)
83.29
1,820
36.1
0.7
28.9
85.60
61.00
2.7
16.9
4.8
2.4
14.8
14.8
NCB
45.46
1,051
24.2
-1.1
23.9
48.20
26.60
2.2
18.0
3.7
1.6
9.3
8.6
Saudi Electric (KSA)
21.19
516
23.5
0.0
0.7
26.05
19.76
1.6
10.3
NA
1.2
12.8
15.8
Inds Qatar (Qatar)
106.00
417
17.6
-1.9
9.3
116.89
85.00
9.4
9.8
4.7
1.9
19.3
16.6
0.74
2,517
16.0
-0.3
6.3
0.76
0.63
1.3
10.9
3.9
1.5
14.2
13.7
28.47
610
15.2
0.1
21.1
29.60
21.50
2.2
11.5
5.3
1.3
11.3
12.1
STC (KSA) 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$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2017--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2017
2017
2017
2018E
STC (KSA)
84.58
480
45.1
1.5
23.3
86.00
65.10
9.7
16.7
1.2
2.7
16.6
16.1
Etisalat (UAE)
16.20
731
38.4
0.9
-7.4
18.85
15.75
6.7
19.5
4.9
3.2
16.7
15.9
4.80
484
6.0
0.4
-5.9
5.90
4.73
9.4
21.5
4.5
2.7
12.8
13.3
66.50
48
5.9
0.8
-26.7
106.50
65.71
2.2
8.7
5.3
0.9
10.8
8.7
0.38
706
5.7
0.0
-12.4
0.57
0.38
5.2
11.8
9.2
1.1
10.3
9.5
19.03
3,003
3.9
-1.4
28.3
21.50
12.94
-1.7
(4.8)
NA
1.0
NA
NA
DU (UAE) Ooredoo (Qatar) ZAIN (Kuw) Etihad Etisalat (KSA) NMTC (Ooredoo)
0.88
4
1.5
-1.4
-18.9
1.30
0.77
2.9
6.3
8.0
0.7
11.2
10.6
Omantel (Oman)
0.73
399
1.4
-0.5
-39.6
1.41
0.73
1.8
13.9
9.6
1.0
6.8
8.1
Batelco (Bah)
0.24
354
1.1
0.0
17.6
0.27
0.20
0.4
0.7
10.4
0.9
114.3
9.3
22.40
69
18.6
1.1
-10.4
27.06
20.56
NA
NA
NA
NA
NA
NA 12.8
DP World (UAE) Agility (Kuw)
0.75
251
3.3
-0.4
7.5
0.86
0.54
4.2
7.2
2.0
1.0
13.8
Air Arabia (UAE)
1.17
1,120
1.5
0.0
-5.6
1.33
0.96
5.0
11.0
8.5
0.9
8.7
8.7
Aramex (UAE)
3.89
1,310
1.6
-0.3
-9.5
5.50
3.75
10.3
18.3
4.2
2.3
13.1
12.4
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
---2017--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2017
2017
2017
2018E
160.00
1,187
40.6
0.6
27.0
160.00
115.01
1.7
20.5
3.7
2.2
11.3
10.7
Al Rajhi (KSA)
83.29
1,820
36.1
0.7
28.9
85.60
61.00
2.7
16.9
4.8
2.4
14.8
14.8
FAB (UAE)
11.75
1,736
34.9
3.1
14.6
12.65
10.05
2.0
14.1
5.9
1.4
14.6
11.3
NCB
45.46
1,051
24.2
-1.1
23.9
48.20
26.60
2.2
18.0
3.7
1.6
9.3
8.6
ENBD (UAE)
10.70
4,256
16.2
8.4
30.5
11.00
7.95
1.7
15.0
3.7
1.2
7.7
6.9
NBK (Kuw)
0.74
2,517
16.0
-0.3
6.3
0.76
0.63
1.3
10.9
3.9
1.5
14.2
13.7
Samba (KSA)
28.47
610
15.2
0.1
21.1
29.60
21.50
2.2
11.5
5.3
1.3
11.3
12.1
Saudi British (KSA)
30.58
217
12.2
-0.6
13.3
34.00
22.24
2.1
12.2
4.9
1.4
11.6
10.4
Riyad Bk (KSA)
14.93
290
11.9
-0.2
19.4
15.36
10.20
1.8
10.3
2.5
1.2
11.4
11.5
0.52
1,271
11.4
-0.2
-1.5
0.59
0.42
1.1
10.0
2.9
1.8
18.0
16.4
Saudi Fransi (KSA)
32.05
236
10.3
-0.2
12.1
33.50
25.30
1.8
11.5
3.9
1.2
10.9
10.8
Arab Nat Bk (KSA)
32.00
86
8.5
-0.2
29.6
33.65
19.30
1.8
12.7
5.2
1.3
10.6
9.6
115.79
236
7.5
2.0
19.4
116.00
86.90
1.7
16.3
4.3
1.8
11.4
12.6
34.00
758
7.0
1.7
-9.9
45.40
33.06
2.1
15.7
5.9
1.9
12.6
12.4
0.59
529
4.7
-1.7
-11.5
0.70
0.59
1.8
15.9
7.3
1.2
8.1
26.4
CBQ (Qatar)
38.99
359
4.3
1.0
34.9
39.45
24.50
0.4
3.7
2.6
0.9
26.1
16.1
ADIB (UAE)
3.80
219
3.3
-0.8
0.5
4.14
3.49
1.6
19.2
7.6
1.1
6.1
6.1
KFH (Kuw)
QISB (Qatar) Masraf AlRayan (Qatar) AUB (Bah)
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
---2017--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2017
2017
2017
2018E
SABIC (KSA)
120.57
5,968
96.5
3.1
18.3
123.80
94.90
5.8
11.3
3.5
2.2
19.6
17.1
Inds Qatar (Qatar)
106.00
417
17.6
-1.9
9.3
116.89
85.00
9.4
9.8
4.7
1.9
19.3
16.6
Yansab (KSA)
72.10
262
10.8
1.5
22.5
74.50
52.00
11.9
14.4
4.5
2.4
17.1
15.9
Safco (KSA)
63.37
215
7.0
-0.4
-2.7
73.10
57.00
10.5
12.7
2.8
3.8
30.1
18.6
Petrorabigh (Saudi)
24.42
1,123
5.7
0.7
48.5
31.80
11.00
2.4
15.4
NA
2.1
15.0
18.3
Kayan (KSA)
13.99
6,761
5.6
1.5
31.0
15.20
7.95
1.7
4.8
NA
1.5
31.4
12.8
Tasnee (KSA)
20.38
2,376
3.6
0.9
24.3
22.20
12.44
1.8
8.6
NA
1.6
19.2
18.3
Nakilat (Qatar)
14.10
166
2.1
0.7
-12.4
19.60
13.05
2.8
15.1
7.1
1.3
9.2
8.4
Sahara Petro (KSA)
17.53
1,559
2.1
1.4
6.3
20.08
12.16
5.9
8.0
5.7
1.4
17.3
17.1
1.07
8,921
2.0
0.0
32.1
1.15
0.38
2.2
2.9
NA
0.7
24.5
20.2
20.69
672
2.0
1.2
18.6
24.30
12.76
2.7
7.6
2.4
1.3
17.3
14.7
Dana Gas (UAE) Sipchem (KSA)
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
---2017--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2017
2017
2017
2018E
Emaar (UAE)
5.28
7,458
10.3
-0.2
-19.2
8.43
4.89
5.5
12.7
2.7
0.8
6.6
6.2
Ezdan (Qatar)
9.00
217
6.6
1.9
-25.5
15.79
6.19
3.4
5.6
5.6
0.8
14.1
14.9
Emaar Development
5.42
4,519
5.9
-0.7
6.5
5.93
5.00
12.7
46.3
NA
4.3
7.9
6.9
Aldar Properties (UAE)
2.11
11,128
4.5
1.0
-4.1
2.50
2.00
5.5
8.9
5.7
0.7
8.3
7.4
Damac (UAE)
2.39
2,041
3.9
0.0
-27.6
4.57
2.17
11.0
20.8
10.5
1.0
NA
NA
Dar Al Arkan (KSA)
11.77
21,709
3.4
4.8
-18.3
15.26
5.74
2.2
3.0
NA
0.7
23.0
42.4
Saudi Cem (KSA)
50.80
46
2.1
1.0
7.1
60.40
37.20
11.1
14.7
15.3
2.7
17.1
15.2
Southern Cem (KSA)
40.34
43
1.5
0.1
-16.7
55.80
39.60
8.8
11.5
3.7
1.8
15.3
16.2
United Devt (Qatar)
13.95
71
1.4
1.5
-3.0
19.20
12.50
2.9
4.9
9.0
0.4
9.2
9.0
Taiba (KSA)
30.77
52
1.2
0.3
-11.5
46.40
30.40
4.5
5.3
NA
NA
23.0
23.0
Saudi Real Est (KSA)
33.02
1,355
1.1
7.7
47.4
33.20
18.20
1.9
3.9
NA
NA
29.9
19.5
Qat Natl Cem (Qatar)
54.50
8
1.0
0.6
-13.4
81.00
51.17
8.6
10.5
6.7
1.1
10.9
10.9
Yamamah Cem (KSA)
16.38
43
0.9
0.3
-7.1
18.20
15.80
2.5
3.0
NA
1.0
30.4
15.9
Arabtec Hold. (UAE)
2.06
6,845
0.8
3.0
-13.4
3.64
1.58
1.1
15.9
NA
1.9
25.1
20.6
Deyaar (UAE)
0.48
20,022
0.7
0.8
-3.1
0.60
0.45
2.0
2.6
NA
0.5
21.0
13.7
Drake & Scull (UAE)
1.21
4,111
0.4
0.8
-46.5
2.45
1.00
-16.3
(113.9)
NA
1.9
NA
13.0
Raysut Cem (Oman)
0.63
101
0.3
-8.7
-19.0
1.09
0.62
3.0
3.7
4.6
0.8
21.7
7.0
Nass Corp (Bah)
0.11
-
0.1
0.0
-7.5
0.14
0.10
2.5
6.0
4.4
0.4
6.9
11.3
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
---2017--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2017
2017
2017
2018E
Almarai (KSA)
60.42
148
16.1
0.0
12.4
78.64
50.00
7.2
15.9
1.2
4.2
27.7
25.8
Savola (KSA)
38.04
252
5.4
-0.2
-3.7
51.00
35.15
4.4
11.8
NA
2.3
19.8
14.6
173.64
32
4.2
-0.2
18.3
193.00
136.80
31.5
55.0
4.8
9.6
18.0
16.8
1.26
-
1.8
0.0
N/A
2.70
0.90
11.0
23.1
NA
NA
9.1
9.4
Othaim (KSA)
70.07
198
1.7
-0.6
13.9
92.00
51.10
0.0
30.5
2.1
4.2
14.0
19.3
AlHokair (KSA)
27.42
220
1.5
-0.3
-9.8
48.30
26.10
0.0
-
NA
1.9
NA
10.3
Sadafco (KSA)
98.02
26
0.8
-0.1
-25.1
138.00
94.30
NA
-
4.1
2.5
NA
11.2
Agthia (UAE)
4.80
30
0.8
0.0
0.0
5.71
3.61
7.5
11.8
3.1
1.6
14.0
14.3
Nadec (KSA)
34.10
65
0.8
-0.7
5.4
40.70
25.55
1.0
2.8
NA
2.0
72.3
19.3
0.75
13
0.3
0.0
-19.7
0.94
0.67
NA
NA
NA
NA
NA
NA
Jarir (KSA) Kt. Foods (Kuw)
Oman Flour (Oman)
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
3
SICO RESEARCH
GCC MARKET WATCH
Bahrain Bahrain Markets Turnover USD mn RHS
1,280
BSE index
2.50
0.50
1,255
0.00 22-May
21-May
17-May
14-May
9-May
8-May
20-May
1,260
16-May
1.00
15-May
1,265
10-May
1.50
13-May
2.00
1,270
7-May
1,275
BHB declined marginally (-0.2%) with AUB losing 1.7%. ABC gained 1.6% and NBB was up 0.8%. BBK increased 0.5%. GFH was the top traded stock with 2mn shares traded.
Bahrain Markets 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 -
22-May
21-May
20-May
17-May
16-May
Trades (VWAP)
15-May
14-May
13-May
9-May
8-May
7-May
90 80 70 60 50 40 30 20 10 -
10-May
Vol 000 - RHS
Top Gainers Company Arab Bnking Co $ Natl Bank Bah BBK N/A N/A Top Losers Company Ahli United Bk $ N/A N/A N/A N/A
BAHRAIN Index (Intraday)
Gulf Fin House $ Arab Bnking Co $ Ahli United Bk $ Batelco Al Salam Bk
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
1,269 1,268 1,267 1,266 1,265 1,264 1,263 1,262 1,261 1,260 1,259
Last Pr BD 0.32 0.61 0.45 N/A N/A
---Change--BD 0.01 0.01 0.00 N/A N/A
% 1.6 0.8 0.5 N/A N/A
Vol '000 1,329 3 25 N/A N/A
Last Pr BD 0.59 N/A N/A N/A N/A
---Change--BD (0.01) N/A N/A N/A N/A
% (1.7) N/A N/A N/A N/A
Vol '000 529 N/A N/A N/A N/A
Last Pr BD 0.390 0.32 0.59 0.24 0.11
---Change--BD 0.01 (0.01) -
% 1.6 (1.7) -
Vol '000 2,000 1,329 529 354 179
Bahrain - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--- ---52 Week--Last
YTD
High
Low
ROA
---2017--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2017
2017
2017
2018E 26.4
AUB $ **
0.59
529
4.7
-1.7
-11.5
0.70
0.59
1.8
15.9
7.3
1.2
8.1
ALBA
0.61
-
2.3
0.0
-1.6
0.66
0.42
6.5
9.1
4.3
0.8
9.3
5.8
NBB
0.61
3
2.3
0.8
3.2
0.65
0.55
2.0
14.1
3.8
1.9
13.9
23.0
GFH $
0.39
2,000
1.4
0.0
-7.1
0.65
0.33
2.8
6.8
5.9
1.2
13.8
9.8
BBK
0.45
25
1.3
0.5
7.7
0.47
0.39
1.4
12.9
6.7
1.2
9.4
14.7
Batelco
0.24
354
1.1
0.0
17.6
0.27
0.20
0.4
0.7
10.4
0.9
114.3
9.3
ABC $
0.32
1,329
1.0
1.6
8.5
0.33
0.27
0.6
5.0
9.4
0.3
5.2
5.2
Al Salam
0.11
179
0.6
0.0
-2.6
0.15
0.09
1.1
5.8
4.5
0.8
13.1
14.4
Al Baraka
0.31
-
0.4
0.0
-14.9
0.43
0.30
0.5
9.8
6.3
0.3
3.0
2.6
Bah Islamic Bk
0.13
-
0.4
0.0
-9.0
0.14
0.12
0.9
8.5
3.6
1.1
13.6
12.7
BCFC
0.74
-
0.3
0.0
7.2
0.76
0.68
5.6
16.2
6.7
0.9
5.8
5.6
Ithmaar Holding $
0.10
-
0.3
0.0
-25.9
0.22
0.09
-1.0
(21.7)
NA
0.9
NA
57.1
Seef Properties
0.23
-
0.3
0.0
6.5
0.26
0.20
6.5
7.5
6.1
0.7
9.8
9.9
Bahrain Cinema
1.00
-
0.2
0.0
-16.0
1.24
1.00
73.5
80.6
NA
NA
2.4
32.6
Zain Bahrain
0.09
-
0.1
0.0
3.3
0.10
0.08
3.8
6.5
5.4
0.5
7.9
NA
Esterad
0.11
-
0.0
0.0
-6.0
0.12
0.11
3.0
3.8
5.5
0.4
11.6
6.9
Source: SICO Research, Bloomberg, Reuters (** PER based on diluted capital), Data as of LTD.
4
SICO RESEARCH
GCC MARKET WATCH
Kuwait
KWSE was down 0.3%; Agility and Burgan Bank declined 0.4% each. Boubyan Bank decreased 0.8% and GFH Kuwait (0.9%). Kuwait Projects and Warba Bank were up 0.4% each. Kuwait Real Estate was the top traded stock with 6mn shares traded.
Kuwait Markets Turnover USD mn RHS
4,950
KSE Index
40 35
4,900
30 4,850
25
4,800
20
15
4,750
10
4,700
5
4,650
20-May
22-May
21-May
16-May
17-May
14-May
15-May
10-May
13-May
9-May
8-May
7-May
-
Kuwait Markets Vol 000 - LHS
70,000
Trades (VWAP)
Top Gainers Company
3,500
60,000
3,000
50,000
2,500
40,000
2,000
30,000
1,500
20,000
1,000
10,000
Mena Real Estate Natl Petro Svc Boubyan Intl Equipment Hlding Arab Real Est Co
500
-
21-May
Top Losers Company
22-May
17-May
20-May
15-May
16-May
13-May
14-May
9-May
10-May
8-May
7-May
-
Amwal Intl Invest Al Madar Fin&Inv Gulf Cement Intl Resorts Ajial Real Est
KUWAIT Index (Intraday) 4,865
4,860 4,855
Top Movers Company
4,850
4,845
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
4,830
8:45 AM
4,835
---Change--KWD 0.002 0.037 0.001 0.001 0.001
% 5.9 5.1 4.3 3.7 3.6
Vol '000 20 31 552 0 289
Last Pr KWD 0.052 0.074 0.081 0.022 0.131
---Change--KWD (0.004) (0.006) (0.006) (0.002) (0.008)
% (7.9) (7.5) (6.9) (6.8) (5.8)
Vol '000 258 236 1 404 179
---Change--KWD % (0.00) (1.7) 0.00 2.3 0.01 3.4 (0.00) (0.3) (0.00) (0.2)
Vol '000 6,046 4,333 3,562 2,517 1,271
Last Pr KWD 0.046 0.040 0.154 0.737 0.516
Kwt Real Est Gulf North Africa Hldg Nat Ind Group National Bank Kt Kwt Fin House
4,840
Last Pr KWD 0.027 0.760 0.031 0.031 0.032
Kuwait - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--- ---52 Week--Last
YTD
High
Low
ROA
---2017--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2017
2017
2017
2018E
NBK
0.74
2,517
16.0
-0.3
6.3
0.76
0.63
1.3
10.9
3.9
1.5
14.2
13.7
KFH
0.52
1,271
11.4
-0.2
-1.5
0.59
0.42
1.1
10.0
2.9
1.8
18.0
16.4
ZAIN
0.38
706
5.7
0.0
-12.4
0.57
0.38
5.2
11.8
9.2
1.1
10.3
9.5
AUB KUWAIT $
0.17
531
4.8
0.0
-11.3
0.22
0.17
1.8
15.9
7.3
1.2
8.1
26.4
Boubyan Bank
0.48
414
4.0
-0.8
16.3
0.50
0.38
1.3
13.2
1.4
3.1
24.2
22.0
Agility
0.75
251
3.3
-0.4
7.5
0.86
0.54
4.2
7.2
2.0
1.0
13.8
12.8
Gulf Bank
0.26
759
2.7
0.0
8.0
0.28
0.23
0.9
8.2
2.6
1.3
16.3
15.1
Mabanee
0.64
162
2.2
-0.2
-4.8
0.79
0.63
6.4
13.5
1.5
1.6
12.8
12.3
Burgan Bank
0.26
129
2.0
-0.4
-11.4
0.36
0.25
0.9
9.9
NA
0.9
9.0
9.0
Boubyan Petrochemicals
0.86
458
1.6
-0.6
27.6
0.89
0.54
0.0
-
4.5
NA
NA
NA
GFH Kuwait $
0.11
516
1.4
-0.9
-10.8
0.19
0.09
0.4
0.7
10.4
0.9
114.3
9.3
Kuwait Projects
0.25
405
1.3
0.4
-22.6
0.36
0.23
0.2
5.1
3.5
0.9
16.2
12.7
Warba Bank
0.24
380
0.8
0.4
4.8
0.27
0.20
NA
NA
NA
NA
NA
NA
KIB
0.22
116
0.8
0.0
-3.5
0.26
0.20
0.9
6.9
NA
0.9
12.9
12.9
Mezzan
0.71
2
0.8
-0.1
-7.9
1.00
0.69
NA
NA
NA
NA
NA
NA
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
5
SICO RESEARCH
GCC MARKET WATCH
Oman
MSM closed 0.4% lower; Omnatel (-0.5%), Raysut (-8.7%) and Oman Cement (-0.6%). Bank Muscat gained 0.5% and Galfar, which was up 2.9% was amongst the top traded stocks.
Oman Markets Turnover USD mn RHS
4,750
MSM index
90.0 80.0 70.0 60.0 50.0 40.0 30.0 20.0 10.0 0.0
4,700 4,650
4,600 4,550 22-May
21-May
20-May
17-May
15-May
16-May
14-May
13-May
10-May
9-May
8-May
7-May
4,500
Oman Markets 1,000 900 800 700 600 500 400 300 200 100 -
22-May
21-May
20-May
17-May
16-May
14-May
Trades (VWAP)
15-May
13-May
9-May
8-May
7-May
10-May
Vol 000 - LHS
140,000 120,000 100,000 80,000 60,000 40,000 20,000 -
Top Gainers Company
Last Pr OMR 0.16 0.11 0.11 0.11 0.12
Al Jazeira Svc Galfar Eng Glf Inv Serv Al Madina Takaful Insurance Sharqiya Inv Top Losers Company
Last Pr OMR 0.63 0.36 0.73 N/A N/A
Raysut Cement Co Oman Cement Co Omantel N/A N/A
Oman Index (Intraday) 4,600 4,595 4,590
Top Movers Company
4,585
Last Pr OMR 0.09 0.11 0.38 0.11 0.16
4,580
Bank Nizwa Galfar Eng Bank Muscat Glf Inv Serv Ahli Bank
4,575
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
4,565
8:45 AM
4,570
---Change--OMR 0.01 0.00 0.00 0.00 0.00
% 3.9 2.9 1.9 1.8 1.7
Vol '000 18 1,447 791 478 114
---Change--OMR % (0.060) (8.7) (0.002) (0.6) (0.004) (0.5) N/A N/A N/A N/A
Vol '000 101 71 399 N/A N/A
---Change--OMR 0.00 0.00 0.00 -
% 2.9 0.5 1.9 -
Vol '000 1,681 1,447 918 791 500
Oman - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2017--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2017
2017
2017
2018E NA
Bank Muscat
0.38
918
2.9
0.5
1.3
0.40
0.34
1.6
10.9
6.7
0.7
6.3
Omantel
0.73
399
1.4
-0.5
-39.6
1.41
0.73
1.8
13.9
9.6
1.0
6.8
8.1
Bank Dhofar
0.18
-
1.1
0.0
-13.4
0.22
0.18
1.1
10.7
6.2
0.9
9.1
10.1
Ooredoo Oman
0.50
6
0.8
0.0
-5.7
0.55
0.42
7.8
13.1
8.5
1.3
10.4
11.5
OMINVEST
0.38
-
0.8
0.0
-9.4
0.47
0.36
0.8
10.1
3.6
1.8
14.4
15.5
NBO
0.18
-
0.8
0.0
-6.0
0.22
0.17
1.3
10.3
8.0
0.7
6.6
7.3
Bank Sohar
0.14
-
0.7
0.0
-0.9
0.15
0.13
0.9
8.9
3.3
0.9
10.6
8.8
Ahli Bank Oman
0.16
500
0.6
0.0
-1.1
0.17
0.15
1.3
10.7
5.8
1.0
9.1
8.7
HSBC Oman
0.10
33
0.5
0.0
-19.5
0.13
0.10
0.8
6.0
5.5
0.6
10.8
9.8
Shell Oman Mktg
1.65
-
0.4
0.0
-7.3
1.88
1.59
10.7
28.4
5.4
3.4
12.2
11.2
Renaissance
0.39
-
0.4
0.0
32.7
0.41
0.16
-5.7
(39.1)
NA
1.5
NA
NA
Bank Nizwa
0.09
1,681
0.3
0.0
-1.1
0.10
0.08
0.5
2.9
NA
1.3
44
44.0
Raysut Cement
0.63
101
0.3
-8.7
-19.0
1.09
0.62
3.0
3.7
4.6
0.8
21.7
7.0
Oman Cement
0.36
71
0.3
-0.6
-12.7
0.48
0.35
4.8
5.9
8.4
0.7
12.3
11.8
Salalah Port Ser
0.60
-
0.3
0.0
-0.7
0.66
0.54
NA
NA
NA
NA
NA
NA
Galfar
0.11
1,447
0.1
2.9
44.0
0.12
0.07
-1.4
(9.9)
NA
0.6
NA
NA
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
6
SICO RESEARCH
GCC MARKET WATCH
Qatar
DSM edged higher (+0.6%), driven by QNB (+0.6%) and Qatar Islamic Bank (+2%). Real Estate companies closed higher- Ezdan (+1.9%) and Barwa (+1%). IQ fell 1.9% and Vodafone Qatar (-1.1%). QNB was amongst the top traded stocks.
Qatar Markets Turnover USD mn RHS
9,050 9,000 8,950 8,900 8,850 8,800 8,750 8,700 8,650 8,600
DSM index
300 250 200 150 100 50
22-May
21-May
20-May
17-May
16-May
15-May
14-May
13-May
9-May
10-May
8-May
7-May
-
Qatar Markets Vol 000 - LHS
30,000
Trades (VWAP)
7,000 6,000 5,000 4,000 3,000 2,000 1,000 -
20,000 10,000
22-May
21-May
20-May
17-May
16-May
15-May
14-May
13-May
10-May
9-May
7-May
8-May
-
Top Gainers Company Mesaieed Petroch Qatar Oman Inves Qa Islamic Bk Ezdan Real Est Doha Bk Ltd Top Losers Company Islamic Fin Sec Industries Qatar Medicare Group Vodafone Qatar Dlala Brokerage
Qatar Index (Intraday)
Mesaieed Petroch Qa Nat Bk Doha Bk Ltd Masraf Al Rayan Vodafone Qatar
1:00 PM
12:40 PM
12:20 PM
12:00 PM
11:20 AM
11:40 AM
11:00 AM
10:20 AM
10:40 AM
10:00 AM
9:40 AM
9:20 AM
Top Movers Company
9:00 AM
9,000 8,990 8,980 8,970 8,960 8,950 8,940 8,930 8,920 8,910
Last Pr QAR 15.94 6.38 115.79 9.00 27.10
---Change--QAR 0.61 0.16 2.29 0.17 0.50
% 4.0 2.6 2.0 1.9 1.9
Vol '000 1,911 97 236 217 822
Last Pr QAR 28.20 106.00 56.50 8.65 12.80
---Change--QAR (1.10) (2.00) (1.05) (0.10) (0.12)
% (3.8) (1.9) (1.8) (1.1) (0.9)
Vol '000 12 417 54 540 11
Last Pr QAR 15.94 160.00 27.10 34.00 8.65
---Change--QAR % 0.61 4.0 1.01 0.6 0.50 1.9 0.57 1.7 (0.10) (1.1)
Vol '000 1,911 1,187 822 758 540
Qatar - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2017--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2017
2017
2017
2018E
QNB
160.00
1,187
40.6
0.6
27.0
160.00
115.01
1.7
20.5
3.7
2.2
11.3
10.7
Industries Qatar
106.00
417
17.6
-1.9
9.3
116.89
85.00
9.4
9.8
4.7
1.9
19.3
16.6
Qatar Islamic Bk
115.79
236
7.5
2.0
19.4
116.00
86.90
1.7
16.3
4.3
1.8
11.4
12.6
34.00
758
7.0
1.7
-9.9
45.40
33.06
2.1
15.7
5.9
1.9
12.6
12.4
9.00
217
6.6
1.9
-25.5
15.79
6.19
3.4
5.6
5.6
0.8
14.1
14.9
197.98
120
6.0
1.3
11.2
217.70
161.99
10.4
18.7
3.8
2.4
13.5
12.8
Ooredoo
66.50
48
5.9
0.8
-26.7
106.50
65.71
2.2
8.7
5.3
0.9
10.8
8.7
CBQ
38.99
359
4.3
1.0
34.9
39.45
24.50
0.4
3.7
2.6
0.9
26.1
16.1 13.9
Al Rayan Ezdan Real Estate Q. Elec.& Water
Qatar Fuel
134.99
31
3.7
1.1
32.3
145.20
83.09
8.1
13.7
5.9
1.9
13.9
Barwa Real Estate
33.97
53
3.6
1.0
6.2
38.79
27.36
5.8
9.2
7.4
0.7
7.8
7.8
Qatar Insurance
34.56
303
3.0
0.0
-23.6
63.48
32.09
1.3
4.7
3.8
1.1
26.4
10.9
Doha Bank
27.10
822
2.3
1.9
-4.9
34.98
25.20
1.2
11.0
NA
0.8
7.6
6.8
Qatar Intl.Islamic Bk
53.00
14
2.2
-0.7
-2.9
63.22
43.40
1.9
13.3
7.5
1.4
9.6
9.1
Qatar Gas (Nakilat)
14.10
166
2.1
0.7
-12.4
19.60
13.05
2.8
15.1
7.1
1.3
9.2
8.4
Qatar Navigation
61.00
63
1.9
0.3
9.0
75.40
41.00
2.3
3.4
5.7
0.5
14.9
14.9
Al Khaliji Bank
11.02
28
1.1
0.2
-22.4
14.69
10.80
0.9
8.3
NA
0.6
7.2
7.0
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
7
SICO RESEARCH
GCC MARKET WATCH
Saudi Arabia
Tadawul increased 0.6% on the back of SABIC (+3.1%) and STC (+1.5%). Maaden was up 0.6% and Al Rajhi Bank (+0.7%). NCB declined 1.1% and SABB (-0.6%). Dar Al Arkan was the top traded stock with 21.7mn shares traded.
Saudi Markets
22-May
1,600 1,400 1,200 1,000 800 600 400 200 -
21-May
20-May
TASI
17-May
16-May
14-May
13-May
10-May
9-May
8-May
7-May
15-May
Turnover USD mn RHS
8,150 8,100 8,050 8,000 7,950 7,900 7,850 7,800 7,750
Saudi Markets Vol 000 - LHS
250,000
Trades (VWAP)
120,000 100,000
200,000
80,000
150,000
60,000 100,000
40,000
50,000
20,000
-
22-May
21-May
20-May
17-May
16-May
15-May
14-May
13-May
10-May
9-May
8-May
7-May
Last Pr SAR 33.02 20.37 33.69 11.77 32.18
Saudi Real Est Sabb Takaful Tourism Ent Dar Al Arkan Al Alamiya Coop Ins Top Losers Company
-
Last Pr SAR 11.77 20.43 13.99 120.57 13.88
Dar Al Arkan Alinma Saudi Kayan Sa Basic Ind Al Jazira Bank
2:25 PM
2:05 PM
1:45 PM
1:25 PM
1:05 PM
12:45 PM
12:25 PM
11:45 AM
12:05 PM
11:25 AM
11:05 AM
10:45 AM
10:25 AM
9:45 AM
Top Movers Company
10:05 AM
---Change--SAR 2.36 1.14 1.65 0.54 1.09
Last Pr SAR 8.36 33.52 8.31 55.70 13.50
Al-Khodari Sons Budget Saudi Saudi Paper Middle East Healthcare Co Nat Gypsum Co
SAUDI ARABIA Index (Intraday) 8,030 8,020 8,010 8,000 7,990 7,980 7,970 7,960 7,950 7,940
Top Gainers Company
% 7.7 5.9 5.1 4.8 3.5
Vol '000 1,355 1,384 368 21,709 456
---Change--SAR % (0.23) (2.7) (0.75) (2.2) (0.15) (1.8) (0.83) (1.5) (0.20) (1.5)
Vol '000 2,341 86 784 192 652
---Change--SAR 0.54 0.09 0.20 3.57 0.29
% 4.8 0.4 1.5 3.1 2.1
Vol '000 21,709 18,035 6,761 5,968 4,448
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
---2017--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2017
2017
2017
2018E
120.57
5,968
96.5
3.1
18.3
123.80
94.90
5.8
11.3
3.5
2.2
19.6
17.1
Saudi Telecom
84.58
480
45.1
1.5
23.3
86.00
65.10
9.7
16.7
1.2
2.7
16.6
16.1
Al Rajhi Bank
83.29
1,820
36.1
0.7
28.9
85.60
61.00
2.7
16.9
4.8
2.4
14.8
14.8
NCB
45.46
1,051
24.2
-1.1
23.9
48.20
26.60
2.2
18.0
3.7
1.6
9.3
8.6
Saudi Electricity
21.19
516
23.5
0.0
0.7
26.05
19.76
1.6
10.3
NA
1.2
12.8
15.8
Maaden
56.06
165
17.5
0.6
8.0
58.70
39.50
0.7
2.7
NA
2.5
91.6
28.5
Al Marai Company
60.42
148
16.1
0.0
12.4
78.64
50.00
7.2
15.9
1.2
4.2
27.7
25.8
Samba
28.47
610
15.2
0.1
21.1
29.60
21.50
2.2
11.5
5.3
1.3
11.3
12.1
Saudi British Bank
30.58
217
12.2
-0.6
13.3
34.00
22.24
2.1
12.2
4.9
1.4
11.6
10.4
Riyad Bank
14.93
290
11.9
-0.2
19.4
15.36
10.20
1.8
10.3
2.5
1.2
11.4
11.5
Banque Saudi Fransi
32.05
236
10.3
-0.2
12.1
33.50
25.30
1.8
11.5
3.9
1.2
10.9
10.8
SAFCO
63.37
215
7.0
-0.4
-2.7
73.10
57.00
10.5
12.7
2.8
3.8
30.1
18.6
Savola Group
38.04
252
5.4
-0.2
-3.7
51.00
35.15
4.4
11.8
NA
2.3
19.8
14.6
Etihad Etisalat
19.03
3,003
3.9
-1.4
28.3
21.50
12.94
-1.7
(4.8)
NA
1.0
NA
NA
National Industry
20.38
2,376
3.6
0.9
24.3
22.20
12.44
1.8
8.6
NA
1.6
19.2
18.3
Source: SICO Research, Company, Bloomberg, Reuters, Data as of LTD.
8
SICO RESEARCH
GCC MARKET WATCH
UAE ABUDHABI Index (Intraday)
Top Movers Company Aldar Properties Dana Gas Eshraq Properties Ad Commercial Bk Bank Of Sharjah
---Change--AED % 0.02 4.0 0.09 3.8 0.35 3.1 0.02 2.7 0.03 2.5
Vol '000 554 651 1,736 462 1,706
Last Pr AED 2.65 0.75 1.75 1.37 0.92
---Change--AED % (0.13) (4.7) (0.02) (2.6) (0.04) (2.2) (0.03) (2.1) (0.02) (2.1)
Vol '000 11 127 10 77 0
Last Pr AED 2.11 1.07 0.74 6.90 1.13
---Change--AED % 0.02 1.0 0.01 1.4 0.10 1.5 0.02 1.8
Vol '000 11,128 8,921 4,662 2,171 1,773
Top Gainers Company Emirates Nbd Al Salam Bk DXB Entertainment Hits Telecom Almadina Fin&Inv Top Losers Company Alsalamsudan Tabreed Ajman Bank Dfm Emaar Development Top Movers Company DXB Entertainment Gulf Fin House Deyaar Hits Telecom Dfm
12:45 PM
1:05 PM
12:45 PM
1:05 PM
12:05 PM
12:25 PM
12:05 PM
12:25 PM
11:25 AM
11:45 AM
10:45 AM
11:05 AM
10:05 AM
22-May
21-May
20-May
---Change--AED % 0.83 8.4 0.08 7.2 0.02 5.6 0.01 4.2 0.01 3.4
Vol '000 4,256 369 86,457 16,596 4,234
Last Pr AED 1.58 1.75 1.00 1.07 5.42
---Change--AED % (0.04) (2.5) (0.03) (1.7) (0.01) (1.0) (0.01) (0.9) (0.04) (0.7)
Vol '000 101 8 29 9,175 4,519
Last Pr AED 0.40 1.50 0.48 0.32 1.07
---Change--AED % 0.02 5.6 0.01 0.7 0.00 0.8 0.01 4.2 (0.01) (0.9)
Vol '000 86,457 23,511 20,022 16,596 9,175
11:25 AM
22-May
21-May
Last Pr AED 10.70 1.19 0.40 0.32 0.33
11:45 AM
16-May
15-May
14-May
17-May
20-May
17-May
16-May
15-May
13-May
14-May
10-May
9-May
7-May
Last Pr AED 0.52 2.49 11.75 0.76 1.25
8-May
22-May
-
10:45 AM
-
2,980 2,975 2,970 2,965 2,960 2,955 2,950 2,945 2,940 2,935 2,930
4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 -
11:05 AM
50,000
2,820
21-May
20
17-May
100,000
2,840 20-May
40
15-May
150,000
2,860
16-May
200,000
60
13-May
80
2,880
14-May
2,900
9-May
250,000
10-May
100
7-May
300,000
2,920
8-May
120
Ad Natl Hotels Rak Cement Co Rak Poultry Feed Int Fish Farming Gulf Cement Co
DUBAI Index (Intraday)
Trades (VWAP)
350,000
140
Top Losers Company
Vol 000 - LHS
400,000
160
2,940
Sudatel Rak Ceramics First Abu Dhabi Bank Methaq Ad Natl Energy
4,420
Dubai Markets DFM index
2,960
Top Gainers Company
4,440
10:05 AM
Dubai Markets Turnover USD mn RHS
2,980
13-May
10-May
7-May
21-May
22-May
17-May
20-May
15-May
16-May
13-May
14-May
9-May
10-May
7-May
8-May
-
9-May
-
10:25 AM
10
4,460
10:25 AM
40,000 20,000
9:25 AM
60,000
20
4,500 4,480
9:45 AM
30
4,520
2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 -
9:25 AM
80,000
Trades (VWAP)
9:45 AM
40
Vol 000 - LHS
8:45 AM
100,000
9:05 AM
120,000
50
4,540
8:45 AM
60
8-May
4,560 4,540 4,520 4,500 4,480 4,460 4,440 4,420 4,400 4,380 4,360
Abu Dhabi Markets
ADSM index
9:05 AM
Abu Dhabi Markets Turnover USD mn RHS
DFM closed positive (+0.9%) with ENBD climbing 8.4%. DXBE increased 5.6% and Arabtec (+3%). Emaar Development was down 0.7% and Tabreed (1.7%). DXBE was the top traded stock with 86.4mn shares traded.
ADX was the top gainer within the GCC region – up 1.5%; FAB gained 3.4% and ADCB (+1.5%). Aldar was up 1%. ADNOC and ADIB slipped 0.8% each. Aldar was the top traded stock with 11mn shares traded.
UAE - Performance and Valuation of Major Listed Companies Company
Last
Vol.
Mcap
Price
Traded
US$
---Price Chg--Last
YTD
---52 Week--High
Low
ROA
---2017--ROE
DivYld
------------Valuation--------PBV
PER
PER*
LCY
('000)
bn
%
%
LCY
LCY
%
%
2017
2017
2017
2018E
Etisalat
16.20
731
38.4
0.9
-7.4
18.85
15.75
6.7
19.5
4.9
3.2
16.7
15.9
FAB
11.75
1,736
34.9
3.1
14.6
12.65
10.05
2.0
14.1
5.9
1.4
14.6
11.3
Emirates NBD
10.70
4,256
16.2
8.4
30.5
11.00
7.95
1.7
15.0
3.7
1.2
7.7
6.9
Emaar
5.28
7,458
10.3
-0.2
-19.2
8.43
4.89
5.5
12.7
2.7
0.8
6.6
6.2
ADCB
6.90
2,171
9.8
1.5
1.5
7.50
6.50
1.6
15.0
6.1
1.3
8.7
7.3
Abu Dhabi National Oil
2.47
65
8.4
-0.8
-4.6
2.83
2.42
0.0
-
-
-
-
-
Emaar Mall
2.09
1,227
7.4
1.0
-1.9
2.63
2.00
8.2
13.0
NA
NA
13.1
14.3
Dubai Islm Bank
4.78
3,868
6.4
-0.2
-13.3
5.90
4.66
2.0
21.4
9.4
1.3
6.2
5.1
DU
4.80
484
6.0
0.4
-5.9
5.90
4.73
9.4
21.5
4.5
2.7
12.8
13.3
Emaar Development
5.42
4,519
5.9
-0.7
6.5
5.93
5.00
12.7
46
NA
4.3
7.9
6.9
Aldar Properties
2.11
11,128
4.5
1.0
-4.1
2.50
2.00
5.5
8.9
5.7
0.7
8.3
7.4
Damac Properties
2.39
2,041
3.9
0.0
-27.6
4.57
2.17
11.0
20.8
10.5
1.0
5.2
4.2
ADIB
3.80
219
3.3
-0.8
0.5
4.14
3.49
1.6
19.2
7.6
1.1
6.1
6.1
DFM
1.07
9,175
2.3
-0.9
-4.5
1.26
0.95
2.5
2.9
4.7
1.1
36.8
23.8
Arabtec
2.06
6,845
0.8
3.0
-13.4
3.64
1.58
1.1
16
NA
1.9
25.1
20.6
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 2018E : 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 2017 (based on results announced so far) 3. SICO estimates based on past performance and normalized operations 4. Assumption of status-quo of profits in 2017 where the none of the above is available
2017 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.
The traded value and volumes in the KWSE and MSM indices, represent the all shares in the index. In addition, for KWSE price movement represents KWSE Premier Index.
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 Mariam Isa Tel: (Direct): +973 – 17515210
Chief Capital Markets Officer Fadhel Makhlooq Tel: (Direct): +973 – 17515202
Visit us at www.sicobank.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 2018. 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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