GulfBase GCC Cap Indices
IndexLevelChg%
Large Cap3,912 -0.22
Med Cap3,902 0.08
Small Cap5,065 -0.07
Micro Cap8,584 0.50

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Ticker Price Volume
QNBK 143.8 312,074
SABIC 95.98 4,534,377
ALMARAI 73.08 135,963
STC 66.9 212,948
ORDS 103.8 74,035
MMG 12.55
RIBL 10.33 260,208

Bank Muscat

Source: NBK Capital

MENA in Focus

Signs of a strong recovery

Well-supported oil prices in 2010 and a number of recent developments have encouraged our optimism about the current and future path of the Saudi economy. These include strong foreign and domestic demand, stock market rally, and continued government support.

Foreign demand on the rise…

According to recent figures, non-oil exports have been trending upward in recent months, mainly since April 2009, following a severe drop in late 2008. This uptrend reflects both volume and price increases. Petrochemicals and plastics, which were 52% of gross exports in 2009, have seen strong foreign demand, especially toward the year-end. Exports of these products grew 16.2% in the fourth quarter of 2009 QoQ, and were 10% higher year-on-year (YoY).

Exports other than petrochemicals and plastics also saw strong growth in the fourth quarter of 2009, 5.3% and 6.2% (QoQ and YoY, respectively).

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