UAE: Daily Market Trading Report - 23 March

Transcription

1. SHUAA Securities Morning Report # Market Stats Indices Close 1M 3M 23 March 2020 1Y Change Change Change Change # UAE Trading Summary A EDm BUY SELL Net ADX 3,553 -3.6% -29.4% -30.0% -30.7% ADX 91 91 DFM 1,782 -2.1% -34.9% -35.5% -32.2% Local 77% 39% 38% TASI 6,172 -1.5% -22.9% -25.6% -29.1% Foreign 23% 61% -38% BHSEASI 1,395 -1.0% -16.4% -12.5% -2.2% Institutional 56% 67% -12% EGX 9,751 5.9% -28.9% -29.8% -34.0% Retail 44% 33% 12% 19,174 -4.5% -34.4% -32.6% -25.5% DFM 240 240 - S&P 500 2,305 -4.3% -31.7% -28.4% -18.4% Local 72% 54% 17% Nasdaq 6,880 -3.8% -29.4% -22.9% -11.0% Foreign 28% 46% -17% FTSE 100 5,191 0.8% -30.2% -31.5% -28.8% Institutional 24% 24% -1% DAX 8,929 3.7% -34.7% -33.0% -23.1% Retail 76% 76% 1% Dow Jones CAC40 - 4,049 5.0% -33.2% -32.8% -24.8% Total 332 332 - Nikkei225 16,553 -1.0% -29.3% -30.6% -23.2% Local 73% 50% 23% HIS 22,805 5.0% -17.4% -18.2% -22.2% Foreign 27% 50% -23% # Upcoming Corporate Actions & Events Date Company Event 23-Mar GFH AGM 24-Mar ADCB BoD/General 24-Mar ETISALAT AGM 24-Mar DXBE AGM 24-Mar UPP BoD/General 25-Mar AIR ARABIA BoD/General 25-Mar ESHRAQ BoD/General 25-Mar SALAMA BoD/Dividend 25-Mar KHCB AGM/EGM 25-Mar DFM AGM 26-Mar ESHRAQ AGM 29-Mar ADIB AGM 30-Mar CBI AGM 30-Mar REEM AGM 30-Mar RAKBANK AGM 30-Mar CBI AGM 31-Mar ADNOC AGM
2. # KEY STORIES UAE suspends all inbound, outbound passenger flights, transit of airline passengers for two weeks UAE has decided to close all commercial centres, and shopping malls along with fish, meat and vegetables markets for a renewable period of two weeks UAE approved an additional AED 16bn on Sunday for a total stimulus package of AED 126bn to counter the coronavirus outbreak Emaar Properties will not be taking bookings at three more Dubai hotels for 10 weeks from Sunday, due to a collapse in demand caused by the coronavirus outbreak Dana Gas said that its exploration and production facilities and operations in Kurdistan Region of Iraq and Egypt remain fully operational and production has not been affected by the pandemic RAK Properties shareholders approve 4% FY19 cash dividend Emirates Group retains cargo operations, but temporarily suspends passenger operations by 25 march. Emirates Group says will not cut jobs and decides for temporary reduction of basic salary for the majority of employees for three months ranging from 25% to 50% Dubai delays one of world’s richest horse races on virus concern Saudi King Salman ordered a curfew to curb the spread of the coronavirus, from 7 pm to 6 am for 21 days Saudi’s Jarir Marketing says all Jarir bookstore showrooms in kingdom temporarily shut down effective 20 March and shutdown will continue until further notice Saudi Airlines Catering board delays Q4 dividend distribution until further notice to maintain liquidity to face risk from coronavirus The Kuwaiti cabinet has decided to extend the suspension of work in all ministries and state agencies by two additional weeks, said Government Spokesman Oman banned public gatherings, limited staffing at state entities and shut currency exchange bureaus as part of measures to fight the coronavirus Egypt will allocate EGP 20bn (USD 1.27bln) to support the stock exchange, battered by the impact of the spreading coronavirus on the economy - President Abdel Fattah al-Sisi Egypt’s Rubex for Plastic Manufacturing decides to halt operation at all factories and departments till end March due to coronavirus Egypt’s Eastern Company board approves to buyback upto 3% of shares # Key Global Trends/ Market Clues Asian shares sank on Monday as a rising tide of national lockdowns threatened to overwhelm policymakers' frantic efforts to cushion what is likely to be a deep global recession. In a taste of the pain to come, E-Mini futures for the S&P 500 dived 5% at the open to be limit down, and were last off 3.8%. EUROSTOXXX 50 futures plummeted 5.9% and FTSE futures 5.1%. MSCI's broadest index of Asia-Pacific shares outside Japan lost 4.4%, with New Zealand's market shedding a record 10% as the government closed all non-essential
3. businesses . Shanghai blue chips dropped 1.9%, though Japan's Nikkei unexpectedly rose 2.2% aided perhaps by expectations of more aggressive asset buying by the Bank of Japan. There was little to cheer in coronavirus news as the global death toll exceeded 14,000 with more than 300,000 infections. Oil prices fell on Monday as governments escalated lockdowns to curb the spread of the global coronavirus outbreak that has slashed the demand outlook for oil and threatened a global economic contraction. Brent crude futures fell USD 1.09, or 4%, to USD 25.89 a barrel by 0209 GMT. # UAE Stories Emaar Properties will not be taking bookings at three more Dubai hotels for 10 weeks from Sunday, which sources familiar with the matter said was due to a collapse in demand caused by the coronavirus outbreak. Address Dubai Mall, Address Sky View and Palace Downtown cannot be booked from March 22 to May 31, the website shows. Dana Gas said that its exploration and production facilities and operations in Kurdistan Region of Iraq and Egypt remain fully operational and production has not been affected by the pandemic. RAK Properties shareholders approve 4% FY19 cash dividend. Emirates Group decides for temporary reduction of basic salary for the majority of employees for three months ranging from 25% to 50%, employees will continue to be paid their other allowances during this time. Junior level employees will be exempt from basic salary reduction. Emirates retains cargo operations, but temporarily suspends passenger operations by 25 march. Dnata significantly reduces operations, including temporary closure of operations at some international locations where demand is low. Emirates group says will not cut jobs. Presidents of Emirates and Dnata will take a 100% basic salary cut for three months. Dubai decided to postpone one of the world’s richest horse races to next year amid concerns over the spread of the coronavirus. The 25th edition of Dubai World Cup, a race which attracts some of the best horses, had a prize money of about USD 12mln. The event was scheduled to take place on March 28. # GCC/ MENA Saudi King Salman ordered a curfew to curb the spread of the coronavirus, from 7 pm to 6 am for 21 days, state media said on Sunday. The decision will take effect from Monday evening March 23. Saudi’s Jarir Marketing says all Jarir bookstore showrooms in kingdom temporarily shut down effective 20 March and shutdown will continue until further notice. Saudi Airlines Catering board delays Q4 dividend distribution until further notice to maintain liquidity to face risk from coronavirus. The Kuwaiti cabinet has decided to extend the suspension of work in all ministries and state agencies by two additional weeks, said Government Spokesman. Oman banned public gatherings, limited staffing at state entities and shut currency exchange bureaus as part of measures to fight the coronavirus. Authorities in the sultanate, which has reported 55 cases of the virus, also asked the private sector to facilitate remote working and urged commercial businesses and individuals to limit cash transactions, state television reported. Egypt will allocate EGP 20bn (USD 1.27bln) to support the stock exchange, battered by the impact of the spreading coronavirus on the economy, President Abdel Fattah al-Sisi said on Sunday. Egypt’s Rubex for Plastic Manufacturing decides to halt operation at all factories and departments till end March due to coronavirus. Egypt’s Eastern Company board approves to buyback upto 3% of shares. (Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian Business)
4. # UAE FOCUS LIST - COMPANY DATA MCAP Company PRICE HIGH - LOW 52WH 52WL VALUATION TTM P/E DIV TTM P/B YLD (%)^ HISTORICAL RETURN 1M% 3M% 6M% 12M% ADCB 33,744 4.85 10.26 4.33 6.72 0.61 9.5% (36.0) (38.6) (40.1) (49.3) ADIB 13,802 3.80 5.85 3.60 6.01 0.72 7.1% (33.5) (30.1) (24.6) (14.6) 1,388 3.70 3.70 2.60 7.39 0.92 8.1% 32.1 32.1 - 31,501 2.52 3.20 2.00 14.20 8.40 8.3% (17.6) (14.3) (2.2) 15.1 Agthia 1,680 2.80 4.15 2.59 12.26 0.86 5.4% (12.5) (18.4) (19.8) (26.3) Air Arabia 4,480 0.96 1.61 0.91 4.52 0.81 NA (33.4) (31.2) (13.6) 5.3 Ajman Bank 1,082 0.52 0.98 0.50 13.21 0.43 6.8% (39.4) (42.8) (43.7) (38.0) Al Waha Capital 1,554 0.80 1.33 0.72 NA 0.52 NA (10.0) (10.2) (21.7) (39.0) Aldar Properties 12,423 1.58 2.37 1.35 6.26 0.50 8.9% (29.1) (27.2) (27.5) (16.0) Amanat Holdings 1,510 0.60 1.06 0.57 25.16 0.59 2.5% (25.4) (30.7) (32.9) (37.3) Amlak Finance 332 0.22 0.64 0.20 NA 0.29 0.0% (50.9) (55.4) (28.0) (30.9) Arabtec 684 0.46 2.28 0.44 NA 0.58 11.0% (45.1) (66.2) (71.9) (78.6) Aramex 3,075 2.10 4.85 2.05 6.18 1.17 7.9% (40.0) (40.8) (48.5) (56.2) Bank of Sharjah 1,407 0.67 1.00 0.65 NA 0.37 0.0% (16.1) (15.7) (19.9) (29.0) DAMAC Properties 2,541 0.42 1.42 0.36 13.26 0.18 NA (36.9) (44.1) (53.8) (70.2) Dana Gas 3,987 0.57 1.10 0.54 6.89 0.41 9.6% (36.9) (38.6) (39.9) (36.5) Deyaar Development 1,208 0.21 0.43 0.18 16.88 0.27 0.0% (38.5) (42.3) (38.2) (39.2) Dubai Financial Market 4,216 0.53 1.00 0.50 34.92 0.54 0.0% (41.4) (43.9) (38.7) (30.2) Dubai Investment 4,422 1.04 1.63 0.98 6.73 0.37 NA (21.8) (19.4) (16.1) (25.7) Dubai Islamic Bank 29,833 4.12 5.86 3.92 5.96 0.85 8.5% (27.3) (24.5) (20.8) (15.4) 856 0.11 0.27 0.09 NA 0.29 0.0% (44.0) (46.2) (49.8) (55.8) Emaar Dev 9,000 2.25 4.91 2.07 2.59 1.00 23.1% (43.0) (42.5) (45.3) (42.6) Emaar Malls 13,405 1.03 2.17 0.98 5.86 0.75 9.7% (39.1) (45.8) (45.2) (42.1) Emaar Properties 15,251 2.13 5.53 1.90 2.46 0.29 7.0% (45.2) (47.4) (55.4) (54.7) Emirates Integrated Tele 22,438 4.95 6.35 4.33 12.96 2.59 7.1% (20.5) (12.2) (13.9) (6.6) Emirates NBD 44,596 7.06 13.93 6.89 2.90 0.55 5.7% (42.5) (41.9) (41.7) (26.8) ADNIC ADNOC Dist DXB Entertainments Eshraq Investments Etisalat First Abu Dhabi Bank GFH Gulf Navigation Holding IHC Julphar (A EDm) (A ED) - 416 0.18 0.55 0.17 NA 0.29 NA (45.3) (46.6) (56.3) (58.9) 112,191 12.90 17.80 11.02 12.91 2.41 6.2% (20.3) (22.3) (22.8) (23.7) 98,064 8.98 16.96 7.78 8.19 0.91 8.2% (35.2) (37.6) (37.9) (40.8) 1,826 0.51 1.11 0.45 5.80 0.45 6.3% (42.1) (42.6) (42.7) (47.8) 382 0.38 1.00 0.30 NA 0.44 0.0% (19.5) (39.7) (51.2) 24,590 13.50 14.00 0.87 NM 11.32 NA (1.9) 125.0 168.9 (14.4) 927 0.80 1.58 0.77 NA 1.33 0.0% 12,783 72.00 86.80 66.00 6.19 0.59 5.6% - National Bank of Fujairah 9,232 4.99 4.99 3.88 NA NA 1.3% Tabreed 4,942 1.82 2.14 1.44 10.45 1.00 RAK Bank 6,454 3.85 5.00 3.75 5.89 786 0.39 0.50 0.35 7.81 1,351 1.36 1.81 1.33 419 0.35 0.71 Sharjah Islamic Bank 3,082 1.00 SHUAA Capital 1,057 Mashreqbank RAK Properties RAK Ceramics SALAMA Takaful Emarat Insurance TAQA Union Properties United Arab Bank (51.9) 1,250.0 (5.9) (33.3) (49.4) (11.5) (2.7) (10.0) NA NA NA NA 5.2% (10.8) (6.2) 7.1 13.8 0.83 7.8% (19.3) (16.1) (17.9) (10.5) 0.20 0.0% (13.1) (8.6) (12.7) (11.3) 7.83 0.53 10.5% (15.6) (1.2) (0.6) (16.0) 0.30 18.68 0.55 NA (41.5) (40.5) (47.6) (23.3) 1.29 0.95 5.65 0.41 8.0% (16.6) (10.5) (9.0) (4.5) 0.42 1.05 0.41 695.00 0.72 NA (48.1) (56.3) (56.7) (33.0) 210 1.40 1.62 0.97 NA 1.77 5.0% 7.7 35.9 (2.1) (11.9) 3,640 0.60 0.94 0.40 15.56 0.87 0.0% (17.4) (4.8) (17.8) (36.1) 935 0.22 0.44 0.15 NA 0.32 0.0% 0.9 (24.3) (31.0) (37.7) 1,848 0.90 1.25 0.81 NA 0.86 0.0% NA 0.3 (10.4) (31.1) (Source: Bloomberg) ^ current dividend yield based on last year dividend declaration
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