T
TDWL
L Dailly Rouund-U
Up
M 9th, 2012 May
RFORMANCE
E
INDEX PER
Intraday
MARKET COMMENTARY
Y
TR
RADED STO
OCKS
5
Market Yesterday 7,371
7,400.00
7,350.00
7,300.00
7,250.00
7,200.00
7,150.00
7,100.00
11:10
11
10
11:25
11:40
11:55
12:10
12:25
12:40
12:55
13:10
13:25
13:40
13:55
14:10
14:25
14:40
14:55
15:10
15:25
Markeet Today 7,221
12-month
9,000.00
8,000.00
7,000.00
6,000.00
5,000.00
4,000.00
9‐Apr‐12
9‐May‐12
9‐Feb‐12
9‐Mar‐12
9‐Jan‐12
9‐Dec‐11
9‐Nov‐11
9‐Oct‐11
9‐Sep‐11
9‐Jul‐11
9‐Jun‐11
9‐Aug‐11
Market Today 7,221
9‐May‐11
TA
ASI retreated
d sharply, deccreasing by 2..03 percent, losing
l
1449.92 points to close at its
i lowest levvel since Febbruary
288th 2012 (7,2221.50 points), following the
t latest po
olitical
deevelopments in Europe, which raiseed concerns over
Euurope’s fiscal position. Feaars towards policies
p
of socialist
prresident Francois Hollande - which havve started to
o ease
– were renew
wed again fo
ollowing anno
ouncement of
o the
Greek leftist leeader Alexis Tsipras,
T
who pledged to fo
orm a
overnment that
t
will rejject the Grreek internattional
go
reescue progrram requireements and threatened
d to
naationalize prrivate banks. Doubts co
oncerning Greece
co
ommitment to
o rescue pro
ogram flooded
d the markett with
m
more
misgivinggs about the future of thee euro area’ss debt
crrisis. Almost all of the trraded stocks retreated, where
w
onne hundred and forty on
ne stocks depreciated in their
prrices and fivve stocks appreciated, while
w
three stocks
s
w
witnessed
no change.
c
Namaa Chemicals was
w the top loser,
w
where
it decreeased by 9.80%, closing at
a its lowest price
sinnce March 31
3 st 2012 (SA
AR 18.40), associated
a
w
with
a
tuurnover of SAR
S
235.363 Million. Traades on ATHEEB
TEELECOM reccorded a turnover of SAR
R 284.039 Million,
M
asssociated withh a price decrease of 7.93% to close att SAR
188.00. Dar Al Arkan toppeed the most active
a
perform
mers`
lissts in terms of
o turnover (SSAR 1,539 Million)
M
and vo
olume
(127 Million), where
w
it lostt 6.05% from its price to close
att SAR 11.65.
3
MARKET PER
RFORMANCE2
Market
Turnover
Volumes
Trades
Today
7,873,5776,911
413,8133,168
169,994
Yesterday
6,085,901,977
313,139,718
124,977
PRICE PERFO
ORMERS
Top Gainers
SRMG
Extra
SABB
SPPC
ALLIANZ SF
%Chg
26.70
88.00
35.00
29.00
83.25
1.17
1.15
0.86
0.69
0.30
Top Losers
Nama Chemicals
N
S
Saudi
Indian
A
AICC
G Union
Gulf
U
UCA
18.40
42.00
29.80
20.95
37.30
%Chgg
-99.80
-99.68
-99.15
-99.11
-99.02
MOST ACTIV
VE PERFORME
ERS (MILLIONS
S)
By Turnover
By Volume
Dar Al Arkan
Alinma
SABIC
Emaar E .C
ZAIN KSA
1,539
468
400
317
301
Dar Al Arkan
Alinma
ZAIN KSA
Emaar E .C
ATHEEB TELEC
COM
127
33
32
25
15
MARKET TO REGION PERFORMAN
NCE
By Turnover
Appreciated
By Volume
V
88%
42%
Depreciated
Unchanged
141
122%
TDW
WL
GCC
TDW
WL
GCC
58%
%
1 ATTRACTIVE
ENESS METE
ER
SECTOR ANALYSIS
Z
Stock
CFV
Last
Price
Diff.
%
P//E
RIBL
SABIC
ARNB
Sipchem
Ettihad Etisalat
STC
YANSAB
SAVOLA
31.40
118.26
35.43
23.58
73.29
43.91
52.36
31.63
24.40
0
99.00
0
29.90
0
20.75
5
65.75
5
41.30
0
49.80
0
34.00
0
28.69
19.45
18.49
13.64
11.47
6.32
5.14
-6.97
11.62
10.15
11.73
10.75
9.006
10.70
8.883
14.17
A N
N
NA
Attractiven
ness
Meter
NEWS AND EVENTS
Corporate Neews
By
y Turnover
Agricultuure & Food Industries
Banks & Financial Services
Building & Construction
Cement
Energy & Utilities
Hotel & Tourism
T
Industrial Investment
Insurancee
Media annd Publishing
Multi-Invvestment
Petrocheemical Industries
Real Estaate Development
Retail
Telecommunication & IT
Transporrt
By
y Volume
Agricultuure & Food Industries
Banks & Financial Services
Building & Construction
Cement
Energy & Utilities
Hotel & Tourism
Industriaal Investment
Insurancee
Media annd Publishing
Multi-Invvestment
Petrocheemical Industries
Real Estaate Development
Retail
Telecom
mmunication & IT
Transporrt
Thhe board of Food Produccts Company (Wafra) approved
increasing thee stake in East Asia Development and
Aggricultural Invvestment Co.. (EADAI) byy SAR 5 millio
on to
SA
AR 10 million. The increasee will be self-finnanced.
Thhe Board off Directors of Saudi Chemical
C
Com
mpany
reecommended distributing a cash dividennd at 15% fo
or the
fo
ourth quarter of
o fiscal year 2011.
2
D
Domestic
New
ws
Thhe Saudi Arabbia Monetary Agency (SAM
MA) mentioned
d that
Saaudi Arabia’s foreign
f
assets increased by SR 96 billion (AED
944 billion) in thhe first quarteer of 2011 due to high oil prices
p
annd output. Asssets of SAMA
A soared to an all time high of SR
2,154 billion (AED
(
2,132 billion) at the end of March
M
co
ompared withh SR 2,057 billion (AED 2,,038 billion) at
a the
ennd of 2011. Deposits
D
with banks abroad
d surged by arround
SR
R 81 billion to
o SR 495.2 billion from SR
R 414 billion (AED
4330 billion). Innvestment in foreign securities swelleed by
neearly SR 19 billion
b
to SR 1,446
1
billion (AED
(
1,422 billion)
b
fro
om SR 1,427 billion
b
(AED 1,413 billion).
Thhe Attractivenesss Meter showss the difference between the current
c
traading prices forr stocks and th
heir respective consensus fair values.
Diifferences between these valuees from our peerspective, places the
invvestment at an Attractive
A
(deno
oted by A), Neuttral (denoted byy N) or
No
ot Attractive (denoted by NA) level. We base this view by asssessing
the current P/E multiples in liine with the consensus
c
fair values.
onsensus fair vallues are arrived at using a metho
odical approach that is
Co
higghly subjective. Please read thee disclaimer on the final page of this
report. 2 The figgures include trransactions on the Exchange Traded
T
Fuunds (ETFs).
1.00%
0.00%
-1.00%
-2.00%
-3.00%
-4.00%
-5.00%
-6.00%
Almost all of
o TDWL sectors retreated. The Insuraance
sector was the top loseer, decreasingg by 5.22%. The
Transport and
a
Real Estate
E
Development sectors
The
followed, lo
osing 4.69% and
a
4.62%, respectively.
r
Media and Publishing sector
s
was the
t
sole gaiiner,
increasing by
b 0.26%. Thhe Real Estaate Developm
ment
contributed by the largesst share to thhe overall traaded
value (28%),, followed by
b the Petrochemicals secctor
(16%). The Real
R Estate Deevelopment seector was also
o the
most active in terms tradeed quantity (41%). 2 R
Regional
& Global
G
Newss
NBK Capital issued a detaailed report about
a
the Kuuwaiti
ecconomy, which showed that the banking sector witnesssed a
reemarkable inccrease in credit despite the KD 40 million
m
deecline in loanss extended to
o non-bank financial instituutions.
Moving on to the
t Money Su
upply, the invvestment bankk said
thhat Money suupply (M1) was
w up in Feebruary (+KD
D 152
million) and thee broader meeasure of monney (M2) wass up a
stronger KD 286 million. NBK Capital also tackled the CPI
figgures of Kuwaait, pointing ou
ut that inflatio
on in the Conssumer
Prrice Index (C
CPI) rose to 3.8% year-onn-year in Febbruary
fro
om 3.5% the previous mon
nth. Then thee report moveed on
to
o expound on employment in Kuwait, staating that: "Kuuwaiti
em
mployment grrows 6% in 2011, in both the publicc and
prrivate sectors””.
Destatis menttioned that Germany's exports rose by
seeasonally adjuusted 0.9 perrcent in Marcch from the prior
month. Econom
mists were forrecasting a 0.55 percent dro
op for
March, after exxpanding 1.5 percent
p
in Febbruary. At the same
tim
me, imports climbed
c
1.2 peercent M-o-M
M, faster than the 1
peercent rise fo
orecast by eco
onomists. However, the raate of
grrowth slowed
d from the 3.6 percent increase seeen in
Feebruary. Germ
many exporteed commodities to the vallue of
EU
UR 98.9 billion and impo
orted EUR 81.5
8
billion worth
w
co
ommodities inn March. The foreign tradee surplus incrreased
to
o EUR 17.4 billion
b
in Marcch from EUR 14.9 billion in
i the
prrevious monthh. The figure was also weell above thee EUR
144.3 billion co
onsensus foreecast. At thee same timee, the
cuurrent accounnt surplus totaaled EUR 19.88 billion, compared
to
o EUR 11.7 billion surplus in
n February.
Im
mportant Disclaim
mer: In providin
ng this publicatio
on, Mubasher do
oes not
takke any responsibility for decisio
ons made on thee basis of the co
ontents
off this report. All information/daata contained inn this report is drawn
fro
om sources beelieved to be reliable. Analysis, computationns and
caalculations are do
one by professio
onals and experrts in the field; yet
y the
accuracy and com
mpleteness of the information is not guaranteeed. In
prroviding this repport, Mubasher and/or its emplloyees do not assume
a
anny responsibility or liability. No part or excerptt of this report may
m be
redistributed, repproduced or conveyed in any form
f
unless a written
w
appproval from Muubasher is legitim
mately obtained.
The British Retail Conso
ortium mentioned that rretail
sales in the United
U
Kingdo
om fell sharplyy in April. Monnthly
index of sam
me-store saless decreased 3.3
3 percent ffrom
April of the year before. It
I was the bigggest decline ssince
a 3.5 percennt drop in Maarch 2011. Saales had risen 1.3
percent on year
y
in Marchh. Overall salees, which include
newly openeed stores, were down 1.0 percent on yyear.
That's also down
d
from thee 3.6 percent on year increease
recorded in March.
M
COMMODITY
Y PRICES
Commodity
y
US $
Oil (Dated Breent)/Barrel
Natural Gas/MMBtu
Electricity/megawatt hour
Gold/oz.
Silver/oz.
Platinum/oz.
Palladium/oz.
REGIONAL INDICES
Index
%Chg
DFMGI
1,5266
-1.86
ADI
2,481
-0.20
TASI
7,221
-2.03
EGX30
5,031
-0.48
KSE
6,451
-0.51
BSEX
1,1600
0.01
QE
8,6044
-0.71
MSM30
ASE
5,7422
1,9722
-1.02
-0.15
Email:
Phone:
Fax:
Web:
1122.01
22.43
355.07
1,5866.60
288.77
1,5022.00
6144.00
EXCHANGE RATES
Currency
US $
€
£
¥
SAR
3.750
4.849
6.037
0.047
[email protected]
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2
2355
+202 2405
2
2360
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mubasher.info 3