DAILY MARKETS BRIEF I LOCAL MARKETS

Transcription

1 DAILY MARKETS BRIEF I LOCAL MARKETS BEIRUT STOCK EXCHANGE Last Daily % YTD % Dividend % MSCI Lebanon % 0.25% Development and Reconstruction Solidere A % 3.50% Solidere B % 3.38% Banking Audi Listed % 4.35% 8.31% BLC Listed % 0.00% 0.00% BOB Listed % 0.00% 3.52% Byblos Listed % 1.25% 8.17% BEMO Listed % % 4.37% BLOM Listed % 2.23% 8.32% Trading RYMCO % 1.54% Industrial Holcim % 2.01% 16.18% Ciments Blancs % 16.00% MSCI LEBANON INDEX - 30 DAYS CHART LEBANESE SOVEREIGN CURVE As the Saudi Vision 2030 s diversification plans require new projects, the construction market has begun to experience renewed growth. Recent project announcements such as the Red Sea business zone project, NEOM, and other tourism and transport projects, are seen as an indication that the market is slowly recovering since The visit by Crown Prince Mohammed bin Salman to Egypt comes as Saudi investment in the country continues to grow, boosted by easing trade restrictions, pound and plans for a bridge linking the two countries. Source: Daily Star, Gulf Base GCC EQUITY INDICES Last Price Daily % YTD % Bahrain % 3.64% Kuwait % 5.81% Oman % -1.98% Qatar % 2.42% KSA % 1.97% Dubai % -4.77% Abu Dhabi % 4.48% LOCAL/GCC FOREIGN EXCHANGE Cross Last Price Lebanese Pound Spot /LBP Bahraini Dinar Spot /BHD Kuwaiti Dinar Spot /KWD Omani Rial Spot /OMR Qatari Riyal Spot /QAR 3.66 Saudi Riyal Spot /SAR UAE Dirham Spot /AED MSCI GCC INDEX - 30 DAYS CHART GCC INDICES DAILY PERFORMANCE

2 DAILY MARKETS BRIEF I EQUITY MARKETS UNITED STATES EQUITY MARKET INDICES Last Price Daily % YTD % 10D Vol Major Indices DowJones % -0.73% -0.10% S&P % 0.66% 0.41% Nasdaq % 5.13% 1.17% Sectors Indices Discretionary % 4.36% 0.04% Staples % -6.10% 0.75% Energy % -7.79% 0.28% Financials % 1.62% 0.24% Healthcare % 1.06% 0.57% Industrials % -1.24% -0.08% IT % 6.65% 0.64% Materials % -2.86% 0.00% Telecom % -7.21% 0.38% Utilities % -7.64% -0.72% Real Estate % -9.60% -0.62% S&P 500 INDEX - 30 DAYS CHART S&P 500 SUPPORT & RESISTANCE Activity in the UK construction sector rose to 51.4% in February but still remained subdued compared to consensus of 50.5 amid client demand still remains low due to "fragile business confidence and ongoing political uncertainty." Stocks ended a difficult week on a mostly positive note after a late rally left the S&P 500 and Nasdaq at their highs of the day. Seven of the 11 S&P sectors finished higher, led by health care and tech while real estate brought up the rear INTERNATIONAL MARKETS INDICES Last Price Daily % YTD % 10D Vol World % -0.32% -0.02% Developed % -0.65% 0.04% Emerging % 2.04% 0.53% Frontier % 1.08% -0.14% Europe % -5.82% 4.60% Latin America % 8.40% 0.05% Asia Pacific % 0.36% -0.72% INTERNATIONAL EQUITY INDICES Last Price Daily % YTD % 10D Vol EuroStoxx % -5.11% 5.16% FTSE % -8.04% 2.44% CAC % -3.31% 6.77% DAX % -7.77% 4.24% Swiss SMI % -8.03% 2.64% Nikkei % -7.57% 0.28% CSI % -0.57% 0.88% DEVELOPED VS EMERGING - 30 DAYS CHART EMERGING DEVELOPED INTERNATIONAL EQUITY - 30 DAYS CHART FTSE 100 CAC 40 DAX NIKKEI 225

3 DAILY MARKETS BRIEF I FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET Last Price Daily % 10D Vol 25RR Major Cross Rate Index % -0.72% - EUR/ % -0.57% /JPY % -1.35% GBP/ % -0.03% /CAD % -0.49% AUD/ % -0.07% NZD/ % -0.01% /CHF % -0.94% /NOK % -1.27% /SEK % -2.16% /CNY % 0.14% Major EUR Cross Rate EUR/GBP % -1.03% EUR/CHF % 0.08% EUR/JPY % -0.23% DISTANCE FROM 52 WEEKS LOW/HIGH The euro slid after initial results from the Italian election suggested a hung parliament. The Five Star Movement has emerged as the most voted party and looks like winning around 32% of the vote, which is not enough to form a government. The Euro had risen on news from Germany that the Social Democrats backed a government coalition with Angela Merkel s Christian Democratled bloc. Chinese lawmakers will vote to appoint a governor to run the People s Bank of China on March 19. The new governor s role will be to monitor debt risks and maintain stable monetary policy. EUR/ 30 DAYS SUPPORT & RESISTANCE GBP/ 30 DAYS SUPPORT & RESISTANCE /JPY 30 DAYS SUPPORT & RESISTANCE /CAD 30 DAYS SUPPORT & RESISTANCE

4 DAILY MARKETS BRIEF I FIXED INCOME GLOBAL BOND INDICES Yield Yield (in Bps) Benchmark Indices US 10 Years Benchmark EU 10 Years Benchmark UK 10 Years Benchmark Sovereign Bonds US Treasury Bond Eurozone Sovereign Bond 0 0 Japan Sovereign Bond US TREASURIES YIELD CURVE EUR GENERIC YIELD CURVE Corporate Bonds US Corporate TR US High Yield Bond TR EUR Aggregate Corporate TR EUR High Yield TR Emerging Market IG & HY Saudi Arabia selected banks including JPMorgan Chase & Co. and HSBC Holdings Plc to help arrange the sale of a dollar-denominated bond, people familiar with the matter said, as the kingdom seeks to plug its budget deficit. The Kingdom plans to borrow the equivalent of $31 billion this year to bridge an expected budget deficit of $52 billion and fund growth plans after its economy shrank last year. Italian 10-year bond yields rise as much as 5bps to 2.02%, after Italian election outcome shows a hung parliament and strong gains for euroskeptic parties. OVERNIGHT RATES - SWAPS Yield Yield (in Bps) 3M LIBOR M EUR EURIBOR M GBP LIBOR Y SWAP Y SWAP Y SWAP Y SWAP Spread (in FIXED INCOME SPREADS r Spread Bps) 3M vs 10Y Spread Spread Spread (in Bps) 2Y 3M vs vs 10Y 10Y Spread IG 2Y Spread vs 10Y Spread (0.0100) HY IG Spread Spread (0.0800) - HY Spread EU vs US 10Y Spread (0.0391) EU vs US 10Y Spread (0.0068) EU vs US 2Y Spread (0.0601) EU vs US 2Y Spread EM vs Benchmark Spread (0.0140) EM vs Benchmark Spread (1.300) CORPORATES - 30 DAYS SPREAD EU VS US - 30 DAYS SPREAD

5 DAILY MARKETS BRIEF I COMMODITIES GLOBAL COMMODITIES MARKET Last Price Daily % Commodity Index % Energy WTI Crude Future % Brent Crude Future % NYMEX Gasoline % NYMEX Heat Oil % ICE Gasoil % NYMEX Natural Gas % COMMODITY INDEX SUPPORT & RESISTANCE WTI OIL 30 DAYS SUPPORT & RESISTANCE Precious Metals Gold Spot $/Oz % Silver Spot $/Oz % Platinum Spot $/Oz % Palladium Spot $/Oz % Gold Future % Silver Future % Platinum Future % Palladium Future % Base Metals LME Aluminum % LME Copper % LME Zinc % LME Nickel % LME Lead % LME Tin % Agricultural Corn CBT % Wheat CBT % Soybeans CBT % Bean Meal CBT % Rough Rice CBT % MDE Palm Oil % Soybean CBT % Coffee ICE % Sugar #11 ICE % Cotton #2 ICE % Cocoa ICE % Ethanol CME % Lumber CME % Orange Juice ICE % Live Cattle CME % Feeder Cattle CME % Lean Hogs CME % Gold gains for second day as threat of trade war arising from President Donald Trump s proposed tariffs on metals prompts investors to seek havens. Oil climbed as geopolitical risk resurfaced, with a halt at Libya s biggest crude field sparking speculation that supply will tighten and help reduce a global glut. GOLD 30 DAYS SUPPORT & RESISTANCE SILVER 30 DAYS SUPPORT & RESISTANCE

6 DAILY MARKETS BRIEF I COMPANY NEWS S&P 500 Stocks TOP 10 WINNERS Ticker Last Price Daily % GAP INC/THE GPS UNIVERSAL HLTH-B UHS RANGE RESOURCES RRC KOHLS CORP KSS UNDER ARMO-C UA CHESAPEAKE ENERG CHK UNDER ARMOUR-A UAA EQUIFAX INC EFX NORDSTROM INC JWN MATTEL INC MAT S&P 500 Stocks TOP 10 LOSERS Ticker Last Price Daily % FOOT LOCKER INC FL MCDONALDS CORP MCD ULTA BEAUTY INC ULTA BEST BUY CO INC BBY LOWE'S COS INC LOW BRIGHTHOUSE FINA BHF ALLERGAN PLC AGN PACCAR INC PCAR CATERPILLAR INC CAT DEERE & CO DE S&P 500 DISTRIBUTION S&P VOLATILITY INDEX WINNERS LOSERS LOW VOLATILITY HIGH VOLATILITY American Airlines canceled 24% of its schedule today -- 1,550 flights -- and it's canceled 160 for tomorrow so far. It's cut the remainder of flights today from Reagan Airport and Philadelphia, and expects more New York-area cancellations. Ford Motor Co. says President Trump s steel and aluminum tariffs could significantly drag earnings this year. Ford does note that the company buys the vast majority of its steel and aluminum for U.S. production in the U.S. but says that the tariffs could harm the competitiveness of American manufacturers. Bayer is looking to sell the business to help ease regulators' objections to its planned purchase of Monsanto, and BASF is for now exclusively conducting due diligence on the business, according to the report. A deal between RBS and the Department of Justice could be reached within weeks regarding the bank s mis-selling of RMBS securities prior to the financial crisis, according to SkyNews. The British government owned lender has already set aside $3.5B to cover the fine, but that may not be enough as a settlement much higher than that is in the works. Source: Seeking Alpha

7 DAILY MARKETS BRIEF I ECONOMIC DATA KEY ECONOMIC INDICATORS Country Event Surv (M) Actual Prior Time China Caixin China PMI Composite :45 China Caixin China PMI Services :45 Eurozone Markit Eurozone Composite PMI :00 Eurozone Markit Eurozone Services PMI :00 Eurozone Retail Sales MoM -0.10% % 12:00 Eurozone Retail Sales YoY 2.00% % 12:00 France Markit France Services PMI :50 France Markit France Composite PMI :50 Germany Markit Germany Services PMI :55 Germany Markit/BME Germany Composite PMI :55 Italy Markit/ADACI Italy Services PMI :45 Italy Markit/ADACI Italy Composite PMI :45 Japan Nikkei Japan PMI Services :30 Japan Nikkei Japan PMI Composite :30 Russia Markit Russia PMI Services :00 Russia Markit Russia PMI Composite :00 United Kingdom Markit/CIPS UK Services PMI :30 United Kingdom Markit/CIPS UK Composite PMI :30 United States ISM Non-Manf. Composite :00 United States Markit US Services PMI :45 United States Markit US Composite PMI Source: 55.9 Bloomberg 16:45 Banque BEMO sal Head Office - Private and Corporate Banking 96 Pasteur Building, Pasteur Street, Medawar Area, P.O. Box: , Beirut - Lebanon Tel: Fax: Wealth & Investment Management research@bemobank.com Beirut Central District Riad El Solh Square, Esseily Building Bloc A, 7th Floor Beirut - Lebanon Tel: Fax: Disclaimer: This report is published for information purposes only. The information herein has been compiled from, or based upon sources considered to be reliable (Bloomberg, SeekingAlpha, DailyStar ), but we do not guarantee or assume responsibility for its completeness and accuracy. This document should not be construed as a solicitation to take part in any investment, or as constituting any representation or warranty on our part. This report is not to be relied upon in substitution for the exercise of specialists. We may not have taken any steps to ensure that the securities referred to in this report are suitable for any particular investor. The investments and services contained or referred to herein are not purported to be exhaustive, any person considering an investment should seek specialist advice on the suitability of an investment. Nothing in this report constitutes investment, legal, accounting or tax advice, or a representation that any investment or strategy is suitable or appropriate to your individual circumstances, or otherwise constitutes a personal recommendation. Clients understand that it is their responsibility to seek legal and/or tax advice regarding the legal and tax consequences of their investment transactions. The consequences of any action taken on the basis of information contained herein are solely the responsibility of the recipient. Investment instruments are subject to risk, including possible loss of principal amount invested. Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance. The value of securities and financial instruments is subject to exchange rate fluctuation that may have a positive or adverse effect on the price or income of such securities or financial instruments. Some investments mentioned in this report may have a high level of volatility. High volatility investments may experience sudden and large falls in their value causing losses when that investment is realized. Some investments may not be readily realizable and it may be difficult to sell or realize those investments, similarly it may prove difficult to obtain reliable information about the value, or risks, to which such an investment is exposed. This report may provide the addresses of websites or references. We have not reviewed any such site and takes no responsibility for the content contained therein. Such address or reference is provided solely for convenience and information. Accessing such website through this report shall be at the recipients own risk.