Equity Daily MENA Equities Daily 31 March 2014 It was a positive start to the week for GCC equities. The Bloomberg GCC 200 index gained +0.4%. The DFM index gained +1.3% to close at its highest level since September 2008. Gains were led by real estate stocks with Emaar Properties adding +1.3% to close at AED 9.95, just below the psychological level of AED 10.0. The Tadawul gained +0.4% as Prince Muqrin bin Abdulaziz was named as deputy crown prince. This makes him the second in line to succeed King Abdullah after Crown Prince Salman. The EGX 30 index started the week on weak note with a decline of -1.9%. It was a broad based decline with all but two stocks on the index closing in negative territory. MENA Equity Indices (1d % change) DFM ADX Tadawul Qatar Exchange KWSE Bahrain Bourse MSM EGX 30 ISE 100 MADEX TUSISE -1.9% -0.7% 0.0% -0.1% 0.1% 0.4% 0.2% 0.9% 0.7% 1.3% 3.1% -3% -2% -1% 0% 1% 2% 3% 4% MENA Equity Indices Index Last 1d chg T.Value (USD mn) Best P/E Best P/B Div. Yield Adv/Dec Ratio % above 200d MA DFM 4,438 57.7 17.1 1.8 2.2 0.3 ADX 4,901 45.8 13.6 1.9 3.7 2.2 Tadawul 9,463 39.9 14.9 2.2 3.2 0.3 ISE 100 69,117 2069.0 1,821.3 9.9 1.2 2.8 4.9 26.0 EGX 30 8,092-159.5 5.9 0.7 2.4 0.1 Aditya Pugalia Analyst +971 4 230 7802 adityap@emiratesnbd.com KWSE 7,584-0.8 - - 3.8 0.9 Bahrain 1,344 3.3 - - 5.1 1.3 MSM 6,915-6.5 11.9 1.6 3.6 2.0 DSM 11,563 80.5 13.3 2.2 4.2 19.0 MADEX 7,819-53.5 4.8 13.5 2.1 4.2 0.7 84.9 TUSISE 4,585 2.8 1.1 - - 1.9 0.5 33.9 FTSE Dubai 4,086 33.7 - - 2.3 0.6
Global Equities Asian equities are trading higher this morning tracking strong close to developed markets over the weekend. The MSCI Asia Pacific index was trading +0.5% at the time of writing. Developed Market Equity Indices (1d % change) DJIA S&P 500 Nasdaq FTSE 100 DAX CAC 40 SMI Stoxx 600 Nikkei S&P / ASX 200 0.1% 0.4% 0.5% 0.4% 0.5% 0.5% 0.3% 0.7% 0.7% 1.4% 0% 1% 1% 2% 2% Emerging Market Equity Indices (1d % change) MEXBOL KLCI JSE Ho Chi Minh FTSE / JSE Africa Micex Bovespa TWSE KSE 100 Nifty Sensex KOSPI SHCOMP Hang Seng -0.1% -0.2% -0.2% 0.3% 0.2% 0.2% 0.2% 1.0% 0.7% 1.2% 0.9% 0.8% 0.6% 1.1% -1% 0% 1% 2% Page 2
MENA News Flow Banking & Financials Dubai Holding Commercial Operations Group reported 2013 net profit of AED 3.3bn (+177.3% y/y). Revenues for the group increased to AED 11.65bn (+27.0% y/y). (Bloomberg) Real Estate Nakheel awarded contract for construction project of Warsan Village Community worth AED 700mn to Ginco General Contracting. (Bloomberg) Transportation & Logistics Able Logistics Group appointed Shuaa Capital as exclusive financial adviser, lead manager and book runner for its IPO on the DFM in 2014. (Bloomberg) Page 3
Events Calendar Date Company / Country Event 31-Mar Danah Al Safat Foodstuff Co KSC Earnings Release 31-Mar Pearl of Kuwait Real Estate Earnings Release 31-Mar Contracting & Marine Services Co KSC Earnings Release 31-Mar Bahrain Flour Mills Co Earnings Release 31-Mar First Investment Co KSCC Earnings Release 31-Mar Privatization Holding Co KSC Earnings Release 31-Mar Sharjah Insurance Co Earnings Release 31-Mar Ekttitab Holding Co SAKC Earnings Release 31-Mar National Consumer Holding Co Earnings Release 31-Mar Al Argan International Real Estate Co Earnings Release 31-Mar Advanced Technology Co Earnings Release 31-Mar Taiba Kuwaiti Holding Co KSC Earnings Release 1-Apr Al Khazna Insurance Co PSC Earnings Release 1-Apr Islamic Arab Insurance Co Earnings Release 1-Apr Methaq Takaful Insurance Co Earnings Release 1-Apr Livestock Transport & Trading Co KSC Earnings Release 1-Apr Al-Arabi Group Holding Co Earnings Release 1-Apr Kuwait Real Estate Holding Co KSHC Earnings Release 1-Apr Al-Deera Holding Co Earnings Release 1-Apr Flex Resorts & Real Estate Co KSCC Earnings Release 1-Apr ElSwedy Electric Co Earnings Release 1-Apr Al-Ahlia Insurance Co Earnings Release 1-Apr Mohandes Insurance Earnings Release 1-Apr Al-Massaleh Real Estate Co Earnings Release 1-Apr Orascom Construction Industries Earnings Release 1-Apr Kuwait Bahrain International Exchange Co Earnings Release Page 4
Major Market Movers Most Active by Value Dubai Financial Market (1d % change) Dubai Financial Market DIB DB GULFNAV DB GGICO DB ARMX DB SHUAA DB UPP DB TAKAFULEDB AMAN DB DARTAKAFDB SALAMA DB -0.3-0.8-1.4 3.8 5.6 6.0 9.2 14.4 14.7 14.9-5.0 0.0 5.0 10.0 15.0 20.0 Stock Union Properties Arabtec Emaar Properties DSI DFM T. Value 1d % chg (AED) AED mn 2.31 5.96% 238.35 5.97 0.67% 198.21 9.95 1.32% 180.58 1.74 2.35% 126.22 3.36 1.82% 116.91 Abu Dhabi Stock Market (1d % change) BILDCO DH -1.7 RAKCC DH -1.8 ADNIC DH -4.5 ABNIC DH -6.6 ADAVIATIDH -7.6 ADIB DH 4.6 ADNH DH 4.9 EIC DH 6.0 WATANIA DH 10.2 NCTH DH 15.0-10.0-5.0 0.0 5.0 10.0 15.0 20.0 Abu Dhabi Stock Market Stock T. Value 1d % chg (AED) AED mn Aldar Properties 3.48 0.87% 152.44 Eshraq Properties 2.30 0.44% 59.43 ADIB 8.87 4.60% 30.79 Etisalat 12.05 1.26% 26.73 RAK Properties 1.10 0.92% 24.05 Tadawul (1d % change) KEC AB -1.2 SABBT AB -1.5 SSP AB -1.6 ALTAYYARAB -2.4 SARCO AB -2.9 REDSEA AB 3.8 MCDCO AB 4.2 THIMAR AB 5.0 BUPA AB 9.3 TAPRCO AB 10.0-5.0 0.0 5.0 10.0 15.0 Tadawul Stock T. Value 1d % chg (SAR) SAR mn Sabic 118.00 0.85% 531.74 Dar Al Arkan 12.55 1.62% 441.29 Alinma Bank 18.65 0.27% 434.21 Etihad Atheeb 17.25 3.29% 431.92 Saudi Kayan 16.60 0.30% 315.82 Page 5
Major Market Movers Most Active by Value Qatar Stock Exchange (1d % change) Qatar Stock Exchange BRES QIIK QIGD QIBK QNNS VFQS QATI DHBK MARK WDAM QD -0.1 QD -0.3 QD -0.4 QD -0.8 QD -0.9 QD 1.7 QD 1.9 QD 2.0 QD 2.1 QD 7.0-2.0 0.0 2.0 4.0 6.0 8.0 Stock T. Value 1d % chg (QAR) QAR mn Widam Foods 49.15 6.96% 59.68 Industries Qatar 183.30 0.16% 44.74 Barwa RE 36.20-0.14% 44.73 QNB 184.10 1.43% 44.27 Gulf Intl Services 78.10 0.90% 42.73 Kuwait Stock Exchange (1d % change) MTCC KK -5.3 CABLETV KK -5.6 KFOUC KK -5.7 KCPC KK -6.1 ALNAWADIKK-8.1 OULAFUELKK 4.7 CITYGROUKK 6.0 HUMANSFTKK 7.3 ALMUDON KK 8.6 REMAL KK 10.0-10.0-5.0 0.0 5.0 10.0 15.0 Kuwait Stock Exchange Stock T. Value 1d % chg (KWd fill) KWd bn Agility 770.00 2.67% 8.60 Kuwait Finance House 940.00-1.05% 7.89 Mobile Telecom 680.00 0.00% 4.27 NBK 1000.00 0.00% 2.98 Burgan Bank 570.00 0.00% 1.78 Page 6
Foreign Ownership Limits Stock Allowed Owned Stock Allowed Owned Stock Allowed Owned Dubai Al Buhairah Ins. Co. 25.00 9.38 Air Arabia 49.00 20.71 Al Khazna Ins. Co. 25.00 2.18 SCIDC 15.00 1.94 Ajman Bank 49.00 3.77 Aldar Properties 40.00 13.93 Sudan Telecom 100.00 78.54 Arabtec Holdings 49.00 9.06 Bank of Sharjah 30.00 20.21 UAQ Cement 49.00 8.42 Aramex 49.00 36.19 Comm. Bank Intl 49.00 48.50 Union Cement 49.00 2.91 Drake & Scull Intl 49.00 8.74 Dana Gas 49.00 63.83 UNB 40.00 9.40 DFM 49.00 3.69 Eshraq Properties 49.00 37.05 United Arab Bank 49.00 45.94 Dubai Investments 20.00 4.54 Finance House 20.00 10.80 United Insurance Co. 25.00 0.01 Dubai Islamic Bank 15.00 7.56 First Gulf Bank 25.00 14.54 Waha Capital 49.00 12.53 DNIR 25.00 0.20 Foodco Holding #N/A N/A 1.11 Qatar Emaar 49.00 20.93 Green Crescent Ins. 25.00 8.52 Al Khaliji 24.97 13.92 Du 100.00 0.24 Gulf Cement Co. 49.00 20.93 Al Khalij Holding 24.86 1.60 Emirates NBD 5.00 2.06 Gulf Livestock Co. 49.00 66.97 Barwa Real Estate 24.97 5.48 GGICO 49.00 2.63 Gulf Medical Projects 49.00 8.26 CBQ 16.89 15.25 Gulf Navigation 20.00 7.37 JULPHAR 49.00 34.54 Doha Bank 25.00 12.13 National Cement Co. 25.00 1.03 Insurance House 25.00 0.32 Gulf Intl Services 18.00 11.06 TABREED 49.00 6.14 ASMAK 49.00 0.58 Industries Qatar 12.25 6.57 Shuaa Capital 49.00 15.43 Investbank 20.00 3.45 Masraf Al Rayan 49.00 13.54 TAKAFUL 25.00 18.50 METHAQ 25.00 24.35 National Leasing 25.00 12.26 Takaful House 25.00 5.40 NBAD 25.00 3.00 QEWS 25.00 8.12 Tamweel 40.00 1.42 RAK Bank 20.00 19.14 Qatar Gas Transport 24.47 11.54 Union Properties 15.00 3.70 NMDC 5.00 1.11 Qatar Insurance Co. 24.75 4.69 Abu Dhabi Qatar Telecom 100.00 87.29 QIIB 19.39 2.86 ADCB 49.00 8.69 RAK Properties 49.00 34.42 Qatar Islamic Bank 20.59 4.01 BILDCO 25.00 9.00 RAK Poultry & Feeding 49.00 15.84 Qatar National Bank 12.49 6.28 AD National Hotel 25.00 1.67 RAK Cement Co. 49.00 31.00 Qatar Navigation 25.00 6.47 ADNIC 25.00 0.09 RAK Ceramics 49.00 16.95 Qatar Telecom - - AD Ship Building 25.00 2.10 RAK Co for White Cement 49.00 19.49 United Development 23.81 13.84 Agthia Group 25.00 11.83 RAK National Ins. 25.00 1.15 Vodafone Qatar 100.00 4.47 Page 7
Other Asset Classes Currencies Close %1d chg 1 year fwd Close %1d chg Close %1d chg EURUSD 1.3752 +0.09 1.3755 USDTRY 2.1913 +0.23 EURAED 5.0510 +0.08 GBPUSD 1.6638 +0.16 1.6583 USDEGP 6.9668-0.02 GBPAED 6.1115 +0.17 USDJPY 102.8300 +0.64 102.5455 USDSAR 3.7503-0.00 JPYAED 0.0357-0.62 USDCAD 1.1061 +0.27 1.1156 USDQAR 3.6423 +0.02 CADAED 3.3212-0.27 AUDUSD 0.9247-0.13 0.9018 USDKWD 0.2819-0.04 AUDAED 3.3970-0.11 USDCHF 0.8868 +0.02 0.8833 USDBHD 0.3770-0.01 CHFAED 4.1417-0.03 EURGBP 0.8265-0.09 0.8294 USDOMR 0.3850 -- TRYAED 1.6762-0.23 USDCNY 6.2125-0.01 13.7375 USDMAD 8.1798-0.03 INRAED 0.0613 +0.51 USDINR 59.8900-0.71 64.2350 USDTND 1.5851-0.05 Rates Interbank 1 month 3 month 6 month 1 year Swaps Close 1d chg (bps) EIBOR 0.4514 0.7814 0.9871 1.1771 USD 2 yr 0.5713 0.9 USD LIBOR 0.1518 0.2334 0.3289 0.5586 USD 5 yr 1.8270 3.2 GBP LIBOR 0.4856 0.5222 0.6209 0.9094 USD 10 yr 2.8415 3.8 EURIBOR 0.2330 0.3100 0.4140 0.5850 EUR 2 yr 0.4690 0.7 JPY LIBOR 0.1014 0.1350 0.1850 0.3429 EUR 5 yr 0.9610 0.9 CHF LIBOR -0.0070 0.0220 0.0744 0.1924 EUR 10 yr 1.7750 0.0 Commodities & Fixed Income Commodities Close %1d chg Bonds / Sukuk YTM 1d chg (bps) CDS Close 1d chg (bps) CRB CMDT Index 493.69-0.09 ADGB 5.5 14-9.2320-208.2 Abu Dhabi 50.5-3.0 Gold 1295.27 +0.31 DUGB 6.396 14 0.8250-2.5 Dubai 175.0-5.0 Silver 19.83 +0.63 QATAR 5.15 14-7.5030-156.4 Qatar 63.5-0.4 Oil (WTI) 101.67 +0.39 BHRAIN 6.273 18 2.8010-0.2 Saudi Arabia 52.0 -- Oil (Brent) 108.07 +0.22 EGYPT 5.75 20 5.2360 +0.8 Bahrain 170.0 -- Aluminium 1716.10 +1.21 TURKEY 7.25 15 1.7380-1.5 Egypt 450.0 -- Copper 6685.50 +1.73 MOROC 5.375 17 1.8470 +0.8 Turkey 231.5-0.3 Tin (LME) 22924.50 +0.31 BTUN 4.5 20 4.4970 -- Morocco 205.0 +3.8 Zinc (LME) 1963.00 +0.11 US Tsy 2 yr 0.4496 +0.4 US Tsy 10 yr 2.7208 +4.0 Page 8
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