weekly investment report - amazon s3€¦ · usd 2 bn capital expenditure programme that includes...

1

Reuters: Britain’s sluggish economy perked up slightly during the past three months, an unexpected boost that clears the way for the Bank of England to raise

interest rates next week for the first time in a decade. While falling short of the strong growth rates enjoyed by Eurozone countries earlier this year, British eco-

nomic growth picked up to 0.4% in the July-September period from 0.3% in the second quarter, according to official data. UK performed much better than most

economists expected immediately after last year’s vote to leave the European Union, and it was one of the fastest-growing major advanced economies in 2016.

However, it slipped to the bottom of the pack earlier this year, posting its worst first-half performance since 2012, largely due to higher inflation caused by the

pound’s fall after the Brexit vote, at a time when its peers have enjoyed robust growth. While these figures are a small boost for under-pressure Chancellor Philip

Hammond ahead of his November budget, they do not alter the broad picture of an economy dogged by poor productivity and squeezed living standards.

Zawya: Saudi Arabia's Public Investment Fund (PIF) aims to increase its AUM to SAR 1.5 trillion (USD 400 billion) by 2020 as part of the country's Vision 2030, an

economic reform plan aimed at boosting private-sector growth and developing non-oil industries. PIF is expected to receive proceeds from the planned sale of 5%

of state oil company Saudi Aramco's shares, has currently around USD 230 billion worth of AUM. PIF plans to create 20,000 direct domestic jobs, and 256,000

construction jobs by 2020. This will increase PIF's contribution to Saudi Arabia's GDP from 4.4% to 6.3%, during a huge investment conference in Riyadh arranged

by the fund. Investments will be in sectors such as real estate and infrastructure, as well as in new areas of activity in the Saudi economy through the establish-

ment of companies such as the Saudi Arabian Military Industries company and the Saudi Real Estate Refinancing Company. One of the biggest tasks under PIF's

responsibility is the delivery of a USD 500 billion plan to build a business and industrial zone extending into Jordan and Egypt. PIF will also seek to maximise value

in the fund's existing assets, and has set a new target to increase total shareholder return to 4-5% from 3%. Outside of Saudi Arabia, PIF's investments will be in a

number of assets such as fixed-income, public equity, private equity and debt, real estate, infrastructure and alternative investments such as hedge funds.

Al Masah Capital: October is looking to close out with a wave of optimism. Global markets ended the week on a positive note led by US equity markets, which all

cheered last Friday, reaching their all-time highs on the back of blockbuster earnings from Amazon, Google and Microsoft defying street expectations. Crude oil

joined the parade reaching USD 60.44 per barrel which is the highest level for the black gold since November 2015. Regional markets matched the optimistic

moves as well, led by Dubai which has advanced +2.4% MtD, followed by Abu Dhabi and Egypt gaining +1.6% and +0.5%, respectively, for the same period. On the

macro picture, regional markets are eagerly anticipating catalysts that will back their positive performance going forward: UAE markets are waiting for the Emaar

Development IPO to inject liquidity and optimism; Saudi Arabia’s grand announcements that include NEOM (USD500 billion city-project by the Red Sea), ARAMCO

IPO staying on track, and the expansionary budget announcement for 2018; and in Egypt the stock market is trading near its all times highs proving investors’

confidence in the economy remains strong. Positive global outlook coupled with higher oil prices and investors’ regaining the ir confidence in regional markets

should maintain a positive outlook on trading activities for the coming period.

Data and News Source: Thomson Reuters

Weekly Investment Report

Sunday, October 29, 2017

Economic & Market News

Indexes Last WTD (%) MTD (%) YTD (%)

DJI 23,434.19 0.45% 4.59% 18.58%

S&P 500 2,581.07 0.23% 2.45% 15.29%

NASDAQ 6,213.47 1.71% 3.92% 27.75%

STOXX Europe 600 393.43 0.85% 1.36% 8.86%

FTSE 100 7,505.03 -0.24% 1.79% 5.07%

DAX 13,217.54 1.74% 3.03% 15.12%

CAC 40 5,494.13 2.27% 3.08% 12.99%

Nikkei 225 22,008.45 2.57% 8.12% 15.14%

SENSEX 33,157.22 1.79% 5.99% 24.53%

Shanghai Composite 3,416.81 1.13% 2.03% 10.09%

Hang Seng 28,438.85 -0.17% 3.21% 29.26%

Commodities & FX Last WTD (%) MTD (%) YTD (%)

Oil (Brent) 60.44 4.66% 5.04% 62.12%

Natural Gas 2.75 -5.59% -8.48% 17.76%

Gold 1272.60 -0.60% -0.51% 19.95%

Silver 16.81 -1.07% 1.24% 21.55%

EURUSD 1.16 -1.49% -1.73% 6.89%

GBPUSD 1.31 -0.46% -2.01% -10.93%

USDJPY 113.67 0.15% 1.07% -5.51%

USDCHF 1.00 1.36% 3.05% -0.43%

AUDUSD 0.77 -1.82% -2.00% 5.51%

USDCAD 1.28 1.43% 2.71% -7.47%

LIBOR US Dollar WoW (%) Euro WoW (%)

1 Month 1.312 1.32% -0.393 0.99%

2 Month 1.378 2.15% -0.381 1.44%

3 Month 1.564 0.61% -0.322 2.74%

6 Month 1.453 0.00% -0.300 0.14%

12 Month 1.736 -0.02% -0.187 0.16%

Indexes Last WTD (%) MTD (%) YTD (%)

Dubai (DFMGI) 3,651.10 -0.59% 2.44% 3.40%

Abu Dhabi (ADSMI) 4,467.72 -0.83% 1.60% -1.73%

Saudi (SASEIDX) 6,910.65 -1.43% -5.11% -4.16%

Kuwait (KWSE) 6,623.49 -0.14% -0.84% 15.23%

Egypt (EGX30) 13,955.47 1.76% 0.48% 13.05%

Qatar (DSM) 8,128.25 -0.54% -2.22% -22.12%

Bahrain (BHSEIDX) 1,277.38 -0.12% -0.47% 4.66%

Oman (MSM30) 4,958.57 -2.14% -3.48% -14.25%

TR GCC (Reuters) 194.51 -0.70% -0.08% -3.99%

DJ MENA 526.67 0.00% 0.26% 5.77%

2 Data and News Source: Thomson Reuters

Zawya: Overall property transactions in Dubai totalled AED 204 bn in the first nine months of 2017, according to the Dubai Land Department (DLD), which was done through 52,170 transactions. This compares to AED 259 bn worth of property deals achieved for the full year 2016 and AED 132 bn in the first half of 2017. By August of this year, the number of off-plan transactions had already exceeded the total amount of off-plan sales in 2016. Land sales accounted for the lion's share of transactions at AED 143.4 bn from 11,169 transactions, while deals involving entire buildings were 5,014 transactions for AED 12.7 billion. Residential units accounted for AED 48.7 bn through 36,000 transactions. Suggesting more end-user activity in the market, there were 11,699 transactions that were financed through mortgages, valued at AED 102 bn. Palm Jumeirah accounted for most mortgages with 578 transactions exceeding AED 11.4 bn, followed by Business Bay with 596 transactions worth AED 4.6 bn. Dubai Marina ranked third with 777 transactions worth over AED 3 bn. Business Bay and Dubai Marina remained top investor picks, accounting for 2,754 and 2,596 transactions respectively. But in terms of value, the Burj Khalifa district reigned, with 1,650 transactions accounting for a sizeable AED 6.2 bn. Business Bay was placed second with AED 5.6 bn worth of transactions, and AED 5.4 billion for Dubai Marina. Reuters: Japan’s government maintained its moderately optimistic view on economic growth in October, indicating that a recovery rema ins on track due to in-creased consumer spending and capital expenditure. In its monthly economic report for October, the government also maintained its optimism that exports and industrial output will continue to drive growth in the world’s third-largest economy. The government kept intact its view that consumption is “picking up moder-ately” as shoppers continue to buy new cars, clothes, and luxury goods. The capital expenditure is “picking up”, unchanged from the wording it used a month earlier, reflecting gains in machinery orders and shipments of capital goods. The exports and output are “picking up”, again the same assessment as last month, as demand from overseas economies remained firm. Currently, the BOJ predicts that consumer inflation will hit its 2% target by March 2020, but this is looking in-creasingly unlikely. Despite four years of massive quantitative easing, core consumer prices are forecast to have risen only 0.8% in September from a year ago, less than half the BOJ’s inflation target. Reuters: Gulf states are ramping up plans to raise syndicated loans for state-owned firms in a fundraising drive designed to offset the effects of low oil prices that also includes privatisations, financial restructurings and IPOs of state assets. Abu Dhabi National Oil Company (ADNOC) is in the market for a USD 6 bn loan and a USD 3 bn bond as it plans to float stakes in some of its services businesses as part of a major shakeup. Oman Electricity Holding Co is in the process of raising a USD 2 bn capital expenditure programme that includes two syndicated loans, a USD 165 mn loan for one of its distribution companies and a USD 200 mn deal for a second subsidiary. Oman Oil Exploration and Production, the exploration arm of state-owned Oman Oil has already raised a USD 1 bn, five-year pre-export financ-ing loan that was coordinated by Natixis and Societe Generale in September. Last year saw a first phase of government borrowing as sovereigns, including Saudi Arabia, Oman and Qatar, raised syndicated loans. The deals were strongly supported by international banks that were anticipat ing a second wave of privatisation and IPO deals.

Economic & Market News (continued)



0.992 1.1031.265

1.4191.576

2.020

2.381

2.894

0.9771.100

1.2701.418

1.603

2.043

2.428

2.937

0

1

2

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4

1M 3M 6M 12M 2Y 5Y 10Y 30Y

US Government Bonds - Yield to Maturity (%)

Last Week Current Week

0

10

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-14

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v-1

4

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r-1

7

May

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CBOE S&P Volatility Index - VIX

10.3 11.1

13.5

-

11.4 11.5

-

9.3

12.3

1.3 1.6 1.6-

2.11.1 0.8 0.9 1.5

0

4

8

12

16

Dubai Abu Dhabi Saudi Kuwait Egypt Qatar Bahrain Oman Average

PE PBMENA Market - Price Ratios

131.9

63.2 84.3

-

350.3

102.1

237.9

-

161.6

0

300

600

Dubai Abu Dhabi Saudi Kuwait Egypt Qatar Bahrain Oman Average

5-Year CDS Rates (basis points)

60

70

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130

Oct-14 Dec-14 Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Jul-17 Sep-17

Global Equity Indexes - Rebased

S&P 500 STOXX Europe 600 TR MENA MSCI Asia ex. Japan

3

Government Bonds

Government Bond Name Currency Maturity Coupon Current Yield (%) YTM - Ask (%) Rating * Bid Ask

UAE - Emirate of Abu Dhabi ABU DHABI GOVT INT'L USD 08/04/2019 6.75 1.87 1.87 Aa2 106.87 106.93

United States of America US TREASURY N/B USD 31/05/2020 1.50 1.70 1.70 AAA 99.51 99.53

United Kingdom of Great Britain UK TSY 4 3/4% 2020 GBP 07/03/2020 4.75 0.46 0.46 AA 110.03 110.06

Kingdom of Bahrain KINGDOM OF BAHRAIN USD 31/03/2020 5.50 4.59 4.59 102.82 103.13

UAE - Emirate of Dubai DUBAI GOVT INT'L BONDS USD 05/10/2020 7.75 2.65 2.66 114.30 114.95


State of Qatar STATE OF QATAR USD 15/06/2030 9.75 4.07 4.07 Aa3 155.64 156.64

Arab Republic of Egypt ARAB REPUBLIC OF EGYPT USD 30/04/2040 6.88 7.08 7.08 B3 97.69 98.56


Kingdom of Bahrain KINGDOM OF BAHRAIN USD 19/09/2044 6.00 7.29 7.26 BB+ 84.88 85.51

Data and News Source: Thomson Reuters * Thomson Reuters composite rating; NR = No Rating

Corporate Bonds

Government/Parent Company Bond Name Currency Maturity Coupon Current Yield (%) YTM - Ask (%) Rating * Bid Ask

Abu Dhabi Water & Electricity TAQA ABU DHABI NATL ENER USD 01/08/2018 7.25 2.33 2.33 BBB+ 103.62 103.66

Abu Dhabi Water & Electricity TAQA ABU DHABI NATL ENER USD 16/09/2019 6.25 2.60 2.60 BBB+ 106.62 106.71

Qatar Petroleum RAS LAFFAN LNG 3 USD 30/09/2019 6.75 2.76 2.72 A 107.39 107.49

National Bank of Oman NATIONAL BANK OF OMAN USD 07/10/2019 3.13 3.30 3.30 Baa3 99.67 99.77

Qatari Diar Real Estate Invest QATARI DIAR FINANCE QSC USD 21/07/2020 5.00 3.02 3.02 Aa3 105.13 105.88

Stichting Waha Aerospace WAHA AEROSPACE BV USD 28/07/2020 3.93 2.45 2.45 AA 102.13 102.88

Qatar Petroleum RAS LAFFAN LNG II USD 30/09/2020 5.30 3.13 3.13 A 103.51 103.59

Investment Corp of Dubai EMIRATES NBD PJSC EUR 23/03/2022 1.75 1.08 1.08 A+ 102.88 103.58

Saudi Electricity Co SAUDI ELECTRICITY GLOBAL USD 03/04/2022 4.21 2.98 2.96 A 105.05 105.80

Emaar Malls Group PJSC EMG SUKUK LTD USD 18/06/2024 4.56 3.83 3.83 Baa2 104.25 104.69

Emirate of Sharjah United Arab SHARJAH SUKUK LTD USD 17/09/2024 3.76 3.26 3.22 BBB+ 103.11 103.42

Qatar Petroleum RAS LAFFAN LNG 3 USD 30/09/2027 5.84 3.65 3.65 A 113.70 114.04

Qatar Gas Transport Co Ltd NAKILAT INC USD 31/12/2033 6.07 4.08 4.08 A 116.81 117.28

Port & Free Zone World FZE DP WORLD LTD USD 02/07/2037 6.85 4.95 4.95 BBB+ 123.73 124.73

Burgan Bank SAK BURGAN TIER 1 FINANCING USD Perpetual 7.25 6.08 7.28 102.09 102.80

Emirates NBD PJSC EMIRATES NBD 2014 TIER 1 USD Perpetual 6.38 4.78 6.13 104.25 105.25




EIBOR 1 Week 1 Month 2 Months 3 Months 6 Months 12 Months

1.1318 1.3180 N/A 1.5713 1.8113 2.2065

Deposit Rates T/N 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months

1.11 0.75 1.22 1.25 1.31 1.49 1.64 1.78

Swap Rates 1 Year 2 Years 3 Years 4 Years 5 Years 7 Years 10 Years

1.86 2.15 2.42 2.64 2.85 3.27 3.73

UA

E

Money Markets

SAIBOR 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months

1.46 2.03 1.79 2.05 2.39 2.24

Deposit Rates T/N 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months

0.80 1.05 1.53 1.25 1.50 2.01 2.21 2.45


2.10 2.44 2.69 2.89 3.07 3.39 3.76

Sau

di

KIBOR O/N 1 Month 3 Months 6 Months 1 Year 2 Years 3 Years

0.75 1.56 1.81 2.00 2.31 1.88 2.13

Deposit Rates O/N T/N 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months

0.37 0.37 0.87 1.24 1.27 1.33 1.52 1.67 2.70


1.97 2.18 2.31 0.00 2.49 2.6000 2.7500

Ku

wai

t

EGIBR O/N < 1 Week 1 Week < 1 Month 1 Month > 1 Month

10.90 9.20 9.31 11.10 11.10 8.85

Bank Rates Re Discount Lending Benchmark

9.25 9.75 8.75

T-Bill Yields 1 Week 1 Month 3 Months 6 Months 9 Months 1 Year 2 Years 3 Years

10.80 11.30 11.50 11.65 11.75 11.80 12.40 12.70

Egyp

t

QIBOR O/N 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months

0.82 0.88 0.97 1.06 1.14 1.29 1.37 1.47

Deposit Rates 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months

1.10 1.21 1.15 1.24 1.26 1.33 1.53

QCB Interest Rates O/N Deposit O/N Lending Repo Rate

0.75 4.50 4.50

Qat

ar

BHIBOR O/N 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months

1.38 1.65 2.25 2.30 2.45 2.60 2.80 3.10

Interest Rates O/N Deposit 1W Deposit O/N Repo O/N Secured

1.10 1.40 3.25 3.25


2.61 2.87 2.99 3.07 3.14 3.27 3.42

Bah

rain




Top Gainers Close

* WTD % YTD %

Mkt. Cap.(AED mln)

ISLAMIC ARAB INSURANCE CO PSC 0.57 4.80% 9.02% 687

TAKAFUL EMARAT INSURANCE PJSC 1.98 4.21% -22.05% 297

GULF NAVIGATION HOLDING PJSC 1.49 4.20% -7.45% 822

MARKA PJSC 0.70 3.87% -54.38% 349

DUBAI INVESTMENTS PJSC 2.60 3.59% 14.71% 11,055

Du

bai

Top Weekly Performers by Country (* indicates native currency; Data as of the previous Thursday)

Ab

u D

hab

i Sa

ud

i K

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ait

Egyp

t Q

atar

Top Losers Close

* WTD % YTD %

Mkt. Cap.(AED mln)

EMIRATES ISLAMIC BANK PJSC 6.75 -10.00% 0.00% 36,653

DXB ENTERTAINMENTS PJSC 0.75 -3.99% -42.62% 5,968

DUBAI ISLAMIC INSURANCE & REINS 0.90 -3.64% 42.70% 203

EMAAR PROPERTIES PJSC 8.47 -3.20% 18.79% 60,640

COMMERCIAL BANK OF DUBAI PSC 3.90 -2.50% -25.00% 10,930

Top Gainers Close

* WTD % YTD %

Mkt. Cap.(AED mln)

AXA GREEN CRESCENT INSURANCE CO 0.69 25.45% -1.43% 138

GULF PHARMACEUTICAL INDUSTRIES 2.45 6.52% 16.29% 2,756

AL KHALEEJ INVESTMENT CO PJSC 3.83 3.51% 240.81% 402

RAS AL KHAIMAH CERAMICS PSC 2.49 3.32% 1.63% 2,137

NATIONAL MARINE DREDGING PSC 3.70 2.78% -13.95% 925

Top Losers Close

* WTD % YTD %

Mkt. Cap.(AED mln)

AL KHALEEJ INVESTMENT CO PJSC 3.11 -18.80% 176.74% 327

ABU DHABI NATIONAL TAKAFUL CO 4.50 -10.18% 5.88% 450

INVEST BANK PSC 2.20 -8.33% -2.65% 3,494

RAS AL KHAIMAH POULTRY AND 3.06 -8.11% -11.30% 264

ABU DHABI AVIATION 2.80 -6.35% -6.67% 1,245

Top Gainers Close

* WTD % YTD %

Mkt. Cap.(SAR mln)

TABUK CEMENT CO SJSC 12.94 23.47% 1.49% 1,165

ARAB SEA INFORMATION SYSTEMS CO 12.84 16.52% 0.00% 128

MEDITERRANEAN AND GULF COOP 31.45 14.36% -53.41% 1,258

AL JOUF CEMENT CO SJSC 8.12 13.41% -0.76% 1,161

MALATH COOPERATIVE INSURANCE 15.50 13.30% 14.16% 775

Top Losers Close

* WTD % YTD %

Mkt. Cap.(SAR mln)

MOBILE TELECOMMUNICATIONS CO 6.37 -19.16% -23.25% 3,718

MIDDLE EAST HEALTHCARE CO CJSC 52.10 -15.97% -29.12% 4,795

ETIHAD ETISALAT CO SJSC 13.02 -15.23% -45.75% 10,025

FAWAZ ABDULAZIZ ALHOKAIR CO SJSC 37.30 -10.77% 1.36% 7,833

SALAMA COOPERATIVE INSURANCE 23.40 -10.00% 90.24% 585

Top Gainers Close (fils) *

WTD % YTD % Mkt. Cap.(KWD mln)

KUWAIT AND MIDDLE EAST FINAN 27.50 12.24% 17.02% 7

KUWAIT NATIONAL CINEMA CO 1,340.00 11.67% 8.06% 136

SENERGY HOLDING COMPANY KSCP 43.00 10.82% 24.64% 9

JIYAD HOLDING CO KSCP 55.00 9.56% 29.41% 19

GULF FRANCHISING HOLDING CO 70.00 9.20% 133.33% 2

Top Losers Close (fils) *

WTD % YTD % Mkt. Cap.(KWD mln)

KUWAIT HOTELS CO KPSC 180.00 -28.00% -32.08% 10

CREDIT RATING AND COLLECTION CO 27.00 -14.29% -37.21% 4

KUWAIT FOOD COMPANY KSCP 1,750.00 -11.62% -32.69% 704

BOUBYAN INTERNATIONAL INDUST 40.70 -9.56% -18.60% 6

BURGAN FOR WELL DRILLING TRAD 70.00 -9.09% -25.76% 16

Top Gainers Close

* WTD % YTD %

Mkt. Cap.(EGP mln)

OCTOBER PHARMA FOR PHARMA 57.62 60.90% 0.00% 346

AL FANAR CONTRACTING CONSTR 1.22 24.49% -7.58% 10

UNIVERSAL CO FOR PACKAGING 25.54 19.07% 203.69% 204

ALEXANDRIA NATIONAL COMPANY 5.08 17.87% 35.47% 27

CAIRO NATIONAL CO FOR INVEST 4.73 15.65% 45.54% 50

Top Losers Close

* WTD % YTD %

Mkt. Cap.(EGP mln)

CLEOPATRA HOSPITAL 24.57 -20.41% 40.32% 4,913

GENIAL TOURS CO SAE 2.39 -14.03% 36.60% 11

EL NASR TRANSFORMERS AND ELECTR 12.93 -13.10% 134.66% 515

ALEXANDRIA CO FOR PHARMA 75.30 -12.96% 37.03% 376

EGYPTIAN IRON AND STEEL CO SAE 8.68 -11.43% 98.22% 8,477

Top Gainers Close WTD % YTD % Mkt. Cap.

DOHA BANK QPSC 29.00 5.92% -13.95% 8,994

QATAR ISLAMIC INSURANCE CO QPSC 51.09 2.80% 0.97% 766

QATAR ELECTRICITY AND WATER CO 182.00 2.25% -19.82% 20,020

QATAR ISLAMIC BANK QPSC 96.30 1.90% -7.31% 22,762

DOHA INSURANCE CO QSC 14.21 1.50% -21.92% 711

Top Losers Close

* WTD % YTD %

Mkt. Cap.(QAR mln)

AL KHALEEJ TAKAFUL GROUP QPSC 11.81 -7.73% -44.03% 302

ISLAMIC HOLDING GROUP QPSC 34.60 -7.73% -43.28% 196

QATARI INVESTORS GROUP QSC 28.66 -7.58% -51.01% 3,564

AAMAL CO QPSC 7.45 -7.11% -45.34% 4,877

ALIJARAH HOLDING CO QPSC 9.90 -7.04% -35.38% 490



6

Company Name Country Market Cap (USD mln)

Close * MTD % YTD % 52w High

* 52w Low

* P/E P/B

Dividend Yield

1 SAUDI BASIC INDUSTRIES CORPORATION SA 78,798 98.50 -4.4% 7.7% 105.40 83.25 15.9 1.9 6.1%

2 EMIRATES TELECOMMUNICATIONS GROUP AE 42,506 17.95 3.8% -4.5% 19.45 17.10 18.1 3.6 4.5%

3 SAUDI TELECOM COMPANY SJSC SA 34,772 65.20 -7.9% -10.1% 78.90 57.00 14.2 2.1 6.1%

4 FIRST ABU DHABI BANK PJSC AE 30,561 10.30 1.0% 3.1% 11.55 8.50 11.0 1.2 4.4%

5 QATAR NATIONAL BANK QPSC QA 29,880 121.80 -0.2% -17.8% 157.27 118.50 8.7 1.5 2.6%

6 AL RAJHI BANKING & INVESTMENT CORP SA 27,993 64.60 -2.3% 2.5% 71.70 55.00 12.0 2.0 0.0%

7 SAUDI ELECTRICITY COMPANY SJSC SA 26,221 23.60 -1.4% 5.4% 26.05 17.60 10.7 1.4 3.0%

8 NATIONAL COMMERCIAL BANK SJSC SA 24,905 46.70 -9.1% 9.6% 58.00 37.00 9.8 1.5 3.4%

9 DP WORLD LTD AE 19,530 23.53 4.8% 34.4% 24.60 15.53 19.0 2.0 1.6%

10 EMAAR PROPERTIES PJSC AE 16,511 8.47 -0.2% 18.8% 8.95 6.37 10.8 1.4 1.8%

11 SAUDI ARABIAN MINING CO SJSC SA 15,610 50.10 -4.2% 28.5% 54.00 36.70 228.8 2.3 0.0%

12 JABAL OMAR DEVELOPMENT CO SJSC SA 15,390 62.10 -7.7% -16.9% 76.00 59.00 66.3 5.6 0.0%

13 NATIONAL BANK OF KUWAIT SAKP KW 15,288 780.00 2.5% 26.0% 800.00 561.90 15.1 1.4 3.7%

14 INDUSTRIES QATAR QSC QA 15,266 95.00 3.6% -19.1% 122.00 85.00 22.2 1.7 4.2%

15 ALMARAI CO SJSC SA 14,986 56.20 -1.5% 2.6% 78.64 45.80 27.1 4.0 1.3%

16 EMIRATES NBD BANK PJSC AE 12,333 8.15 -2.7% -4.0% 9.00 7.60 6.6 0.8 4.9%

17 SAMBA FINANCIAL GROUP SJSC SA 11,946 22.40 -6.7% -8.0% 27.10 18.70 9.1 1.0 4.2%

18 KUWAIT FINANCE HOUSE KSCP KW 11,458 600.00 -0.2% 22.2% 650.00 431.82 17.7 1.9 2.6%

19 ABU DHABI COMMERCIAL BANK PJSC AE 10,120 7.15 0.7% 3.6% 7.68 5.66 9.3 1.2 5.6%

20 SAUDI BRITISH BANK SJSC SA 10,060 25.15 -7.2% 0.6% 28.55 18.40 10.0 1.2 2.8%

21 KINGDOM HOLDING CO SA 10,001 10.12 -3.6% -15.3% 12.95 9.80 66.3 1.3 4.9%

22 EMIRATES ISLAMIC BANK PJSC AE 9,980 6.75 -14.9% 0.0% 11.95 1.57 105.6 5.2 0.0%

23 RIYAD BANK SJSC SA 9,488 11.86 0.7% 2.7% 12.06 9.65 10.9 0.9 5.5%

24 BANQUE SAUDI FRANSI SJSC SA 9,321 29.00 -4.0% 11.1% 33.40 21.50 10.0 1.1 3.6%

25 YANBU NATIONAL PETROCHEMICALS CO SA 8,280 55.20 -6.9% 2.2% 61.75 44.00 14.3 2.0 5.4%

26 EMAAR MALLS PJSC AE 8,256 2.33 0.0% -11.1% 2.80 2.25 15.9 1.8 4.3%

27 DUBAI ISLAMIC BANK PJSC AE 8,195 6.09 0.7% 9.3% 6.29 5.01 8.4 1.2 7.4%

28 MOBILE TELECOMMUNICATIONS CO KW 7,395 516.00 0.8% 25.9% 570.00 385.00 12.8 1.7 6.8%

29 OOREDOO QSC QA 7,283 85.60 3.4% -15.9% 116.10 80.00 15.0 1.2 4.1%

30 ALINMA BANK SJSC SA 7,024 17.56 0.5% 16.3% 18.46 13.10 14.2 1.3 2.8%

31 MASRAF AL RAYAN QPSC QA 7,012 35.20 -5.2% -6.4% 45.40 33.05 12.7 2.1 5.7%

32 EMIRATES INTEGRATED TELECOMM AE 6,709 5.39 0.7% 0.0% 6.49 5.20 15.0 3.2 0.0%

33 DAMAC PROPERTIES DUBAI CO PSC AE 6,507 3.95 3.9% 56.1% 4.57 1.91 7.6 1.8 6.3%

34 EZDAN HOLDING GROUP QSC QA 6,482 9.20 -12.4% -39.1% 16.74 8.88 12.0 0.8 5.4%

35 SAUDI ARABIA FERTILIZERS CO SJSC SA 6,444 58.00 -5.4% -22.7% 82.00 57.50 22.3 3.6 4.3%


Top 50 MENA Stocks by Market Capitalization (* indicates native currency; Latest data)



7

Company Name Country Market Cap (USD mln)

Close * MTD % YTD % 52w High

* 52w Low

* P/E P/B

Dividend Yield

36 ARAB NATIONAL BANK SA 6,085 22.82 -5.1% 3.0% 25.50 15.45 7.9 1.0 3.9%

37 QATAR ISLAMIC BANK QPSC QA 6,044 96.30 5.7% -7.3% 110.50 86.90 10.0 1.2 4.9%

38 SAVOLA GROUP COMPANY SJSC SA 5,532 38.85 -14.6% -3.1% 51.00 30.30 0.0 2.5 0.0%

39 QATAR ELECTRICITY AND WATER CO QSC QA 5,316 182.00 4.1% -19.8% 247.90 171.52 12.8 2.5 4.1%

40 AHLI UNITED BANK BSC BA 5,139 0.68 -3.5% 16.9% 0.79 0.57 9.3 1.2 6.0%

41 ALDAR PROPERTIES PJSC AE 5,095 2.38 2.1% -9.5% 2.78 2.10 6.8 0.8 4.6%

42 COMMERCIAL INTERNATIONAL BANK EGP EG 5,026 76.34 -6.5% 4.5% 88.80 51.19 15.6 3.7 0.7%

43 MESAIEED PETROCHEMICAL HOLDING CO QA 4,098 12.28 -5.7% -22.3% 16.50 12.00 15.8 1.1 0.0%

44 AGILITY PUBLIC WAREHOUSING CO KSCP KW 3,713 841.00 -5.2% 49.2% 984.00 431.82 17.8 1.1 1.5%

45 SAUDI KAYAN PETROCHEMICAL CO SJSC SA 3,588 8.97 -0.8% 1.4% 9.85 6.45 13.7 1.0 0.0%

46 MASHREQBANK PSC AE 3,577 74.00 0.0% 19.4% 100.05 59.95 0.0 0.7 5.4%

47 ALAWWAL BANK SA 3,487 11.44 -7.4% -18.0% 14.20 9.40 19.8 1.0 0.0%

48 BOUBYAN BANK KSCP KW 3,451 458.00 4.1% 21.7% 476.00 361.90 24.2 2.4 1.2%

49 JARIR MARKETING CO SJSC SA 3,360 140.00 -9.1% 21.0% 158.80 88.75 15.7 8.5 5.2%

50 MAKKAH CONSTRUCTION AND DEVELOP SA 3,301 75.10 -12.6% -17.0% 123.50 71.00 42.3 1.5 3.3%

Total MCap; Weighted Avg Div Yield 649,323 3.7%


Top 50 MENA Stocks by Market Capitalization — Continued (* indicates native currency; Latest data)



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