Daily Report
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06 May 2019 Daily Report Saudi Stock Exchange Major Economic News Daily Index Closing High Low YTD % Change % . According to the Saudi Press Agency, KSA’ housing TASI 9,179 9,327 9,142 (1.7) 17.3 ministry’s developmental housing program (Tanmawi) signed a contract with Astra-EITCGG consortium to NomuC 3,575 3,605 3,569 (0.1) 28.7 build 1,289 residential unit in Asir. 200 residential TASI movement during session units will be built in Abha, 123 in Bareq, 173 in Balqarn and 793 in Bisha. (Source: Argaam) 9,330 16.0 . The Saudi Arabian General Investment Authority 9,280 12.0 (SAGIA) has issued 267 new licenses for foreign 8.0 Millions 9,230 investors to operate across the Kingdom in Q1-19, 9,180 4.0 which represent an increase of 70.0% Y/Y. Out of 9,130 0.0 which 30.0% of those licenses came in partnership 10:00 AM 11:00 AM 12:00 PM 1:00 PM 2:00 PM 3:00 PM with local investors. (Source: Argaam) Major Corporate News Volume Mn (RHS) TASI Daily PE Index Close % YTD . Saudi Research and Marketing Group (SRMG) Change % (TTM) reported a net profit after zakat and tax of SAR Energy 4,532 (1.7) (6.5) 17.2 79.9mn, compared to net profit of SAR 11.7mn in the Materials 5,807 (1.3) 10.6 18.0 previous year, driven by a 44% growth in revenue. It Capital Goods 3,800 (1.0) (2.6) -16.9 turned profitable compared to the previous quarter, due to losses from intangible asset impairments in 4,273 (0.3) 3.3 18.2 Commercial Service Q4-18. (Source: Argaam) Transportation 3,720 (1.6) 7.0 22.0 . Najran Cement Co. posted a net profit after zakat and Consumer Durables 3,549 (1.4) (3.1) -85.6 tax of SAR 6.06mn for Q1-19, vs. net losses of SAR Consumer Services 3,607 (1.8) 22.4 311.7 10.17mn in the same period previous year, driven by increased sales volumes and lower production per Media 9,850 9.2 (3.2) 55.8 ton, despite reduced prices. Relative to the previous Retailing 7,754 (0.8) 12.9 36.3 quarter, the company turned profitable in Q1-19. Food & Staples 6,397 (0.3) 7.6 25.3 (Source: Argaam) Food & Beverages 4,493 (1.3) 15.6 67.2 . National Metal Manufacturing and Casting Co. Healthcare 3,892 (0.9) 3.6 20.4 (Maadaniyah) has reduced its net losses in Q1-19 by 78.7% Y/Y to SAR 0.19mn, as against net loss of SAR Pharma & Bio Tech 3,575 (2.0) (7.8) 24.9 0.89mn in the previous year, due to higher other Banks 9,179 (2.1) 27.2 16.4 income, higher selling and distribution expenses, Diversified 3,341 (1.5) (3.9) -26.8 lower G&A expenses and decrease in the Zakat Financials provision. (Source: Argaam) Insurance 4,395 (2.1) 5.3 83.3 Telecom 6,939 (1.7) 28.4 36.1 Market Analysis Utilities 3,520 (2.0) 4.5 182.5 . The Saudi Stock Exchange decreased 1.7% to REITs 3,635 (0.0) 0.3 15.9 9,179.0 on Sunday. The value traded stood at SAR Real Estate 3,238 (1.7) 0.4 23.5 3.2bn (down 5.5% over previous day), while the advance-decline ratio stood at 26/158. The parallel Average Index Value market index decreased 0.1% to 3,574.8 points. The Average value value traded stood at SAR 1.1mn (up 36.8% over Average 5 Average 10 Average 20 traded for the previous day). Almost all sectors in the main market days days days month (bn) ended in the red. Media (up 9.2%) was the only 9,292 9,266 9,193 3.24 gainer; Banks and Insurance (down 2.1% each) led the laggards. Market Statistics Value Traded Volumes No. of Trades (SAR bn) (mn shares) (‘000 shares) Current Week 3.2 124.8 107.9 Previous week 18.9 699.9 569.2 Top Gainers Top Losers Top Weighted Companies Company Price Change% Company Price Change% Company Price Change% SRMG 80.50 10.0 CHUBB 25.20 -5.3 Al Rajhi 73.30 -2.5 SPPC 15.16 4.4 Herfy Foods 55.90 -5.3 SABIC 122.40 -0.6 TAPRCO 41.70 4.0 ARDCO 15.64 -4.6 NCB 62.10 -3.0 Saudi Ceramics 20.00 3.3 Northern Cement 9.28 -4.3 SAMBA 38.15 -0.7 APC 9.94 2.5 Aldrees 34.60 -4.3 Riyad 29.00 -2.4 All rights reserved 06 May 2019 Daily Report Regional Markets Regional and International Markets Daily Market Close MTD % YTD % Change % . Among other regional markets, Dubai and Abu Dhabi Dubai (DFM) 2,753 -0.2 -0.5 8.8 decreased 0.2% and 0.3%, respectively. Kuwait, Abu Dhabi (ADX) 5,226 -0.3 -0.6 6.3 Qatar, Oman and Egypt decreased 1.0%, 0.2%, 0.8% Kuwait (KSE) 4,817 -1.0 -0.2 1.7 and 2.5%, respectively, while Bahrain increased 0.1%. Qatar (QE) 10,461 -0.2 0.8 1.6 . The US PMI Services Index declined to 53.0 in April Oman (MSM) 3,933 -0.8 -0.3 -9.0 (consensus: 52.9) from 55.3 in March. PMI Composite Bahrain (BSE) 1,436 0.1 0.2 7.4 Index declined to 53.0 in April (consensus: 53.0) from 54.6 in the prior month. Output is also at a 2-year low Egypt (EGX30) 14,512 -2.5 -2.7 11.3 as is hiring. (Source: Econoday) International Markets . US wholesale inventories remained unchanged in Daily March, while retail inventories fell 0.3% lower. These Index Close MTD % YTD % Change % results will not be elating revision estimates for Dow Jones 26,505 0.0 -0.3 13.6 inventories in the second estimate for 1-Q GDP but Nasdaq 7,846 0.0 0.8 23.9 they are consistent with rising strength in the economy. (Source: Econoday) S&P 500 2,946 0.0 0.0 17.5 FTSE 100 7,381 0.0 -0.5 9.7 . The US nonfarm payroll increased 263,000 M/M in April (consensus: 180,000) compared with 196,000 in Germany DAX 30 12,413 0.0 0.6 17.6 March. The unemployment rate level decreased to France CAC 40 5,549 0.0 -0.7 17.3 3.6% in April (consensus: 3.8%) from 3.8% in the prior Japan Nikkei 225 22,259 0.0 0.0 11.2 month. The private payroll increased 236,000 in April Hong Kong Hang Seng 30,082 0.0 1.3 16.4 (consensus: 178,000) compared with 182,000 in China Shanghai Composite 3,078 0.0 0.0 23.4 March. (Source: Econoday) Australia ASX 200 6,336 0.0 0.2 12.2 Forex / Currency India Sensex 38,963 0.0 -0.2 8.0 Daily Currency Close MTD % YTD % Commodity Markets Change % Daily Dollar Index 97.5 0.0 0.0 1.4 Commodity Price MTD % YTD % Change % Euro 1.12 0.0 -0.1 -2.3 Arab Light Crude ($/bbl) 71.6 0.0 -2.5 32.1 Japanese Yen 111.1 0.0 -0.3 1.4 Brent Crude ($/bbl) 70.9 0.0 -2.7 31.7 Sterling Pound 1.32 0.0 1.1 3.2 Texas crude ($/bbl) 62.0 0.0 -2.9 37.3 Chinese Yuan 6.73 0.0 0.0 -2.1 Natural Gas ($/mmbtu) 2.57 0.0 -0.3 -12.7 Indian Rupee 69.1 0.0 -0.8 -0.7 Gold ($/oz) 1,279 0.0 -0.3 -0.3 UAE Dirham 3.67 0.0 0.0 0.0 Silver ($/oz) 14.9 0.0 -0.1 -3.6 Qatari Rial 3.64 0.0 0.0 0.0 Steel ($/ton) 648 0.0 -0.9 -10.1 Kuwaiti Dinar 0.30 0.0 -0.1 0.2 Iron Ore (CNY/MT) 713 0.0 0.0 31.8 Omani Rial 0.38 0.0 0.0 0.0 Wheat ($/bu) 428 0.0 2.3 -15.0 Bahraini Dinar 0.38 0.0 0.0 0.0 Corn ($/bu) 363 0.0 2.8 -3.2 Egyptian Pound 17.13 0.0 0.1 -4.1 Sugar ($/lb) 12.0 0.0 0.2 -0.2 Corporate Calendar SMP* (EUR/MT) 2,000 0.0 -1.2 10.5 *SMP: Skimmed Milk Powder Date Company Event Interbank Rates 07th May SISCO OGM Daily MTD YTD th Region Rate* Change 07 May SSP OGM (bps) (bps) (bps) 07th May Fitness Time OGM USD LIBOR 2.560 0.0 -1.6 -24.8 08th May Amiantit OGM Saudi Arabia (SAIBOR) 2.850 -0.1 -0.2 -12.5 08th May SARCO Cash Dividend Distribution UAE (EIBOR) 2.791 -8.8 -9.1 -4.6 08th May Savola Group EGM Qatar (QIBOR) 2.864 0.0 0.2 -4.2 *EGM: Extra Ordinary Meeting Bahrain (BHIBOR) 3.383 0.0 -1.7 -56.7 *OGM: Ordinary General Meeting * Three-month Interbank rate **NA: Not Available Data Sources: Tadawul, Bloomberg, Reuters Updated as of May 06, 2019 All rights reserved Head of Research Senior Analyst Talha Nazar Jassim Al-Jubran +966 11 2256250 +966 11 2256248 [email protected] [email protected] Analyst Abdulrahman Al-Mashal RESEARCH DIVISION RESEARCH +966 11 2256374 [email protected] General Manager - Brokerage Division AGM-Head of international and Mr.Ala’a Al-Yousef institutional brokerage +966 11 2256000 LuayJawad Al-Motawa [email protected] +966 11 2256277 [email protected] AGM – Head of Sales And Investment Centers Area Manager –Qassim & Eastern Central Region & Acting Head of Western and Province Southern Regions Abdullah Al-Rahit CENTERS DIVISION CENTERS Sultan Ibrahim AL-Mutawa +966 16 3617547 +966 11 2256364 [email protected] BROKERAGE AND INVESTMENT AND BROKERAGE [email protected] AlJazira Capital, the investment arm of Bank AlJazira, is a Shariaa Compliant Saudi Closed Joint Stock company and operating under the regulatory supervision of the Capital Market Authority.