UAE: Daily Market Trading Report - 31 December

Transcription

1. 31 December 2020 Morning Report # Market Stats Indices # UAE Trading Summary Close 1M 3M Change Change Change 1Y Change AEDm Buy Sell Net ADX 5,088 -0.2% 2.5% 12.6% -0.1% ADX 396 396 DFM 2,518 -0.3% 4.1% 10.8% -9.1% Local 59% 72% -12% TASI 8,760 0.2% 0.1% 5.6% 5.0% Foreign 41% 28% 12% Institutional BHSEASI 1,476 -1.4% -0.1% 2.9% -8.2% EGX 10,868 1.2% -0.7% -1.1% -22.0% Dow Jones 30,410 0.2% 2.6% 9.5% S&P 500 3,732 0.1% 3.0% Nasdaq 12,870 0.2% 5.5% 6,556 -0.7% 4.6% 13,719 -0.3% 3.2% 7.5% 5,599 -0.2% 1.5% 16.6% Nikkei225 27,444 -0.4% 3.8% 18.4% HIS FTSE 100 DAX CAC40 91% 91% 0% Retail 9% 9% 0% 6.8% DFM 145 145 11.0% 15.9% Local 55% 59% -3% 15.2% 43.9% Foreign 45% 41% 3% 11.8% -13.6% Institutional 54% 52% 2% 3.5% Retail 46% 48% -2% -6.4% Total 542 542 16.0% Local 58% 68% -10% Foreign 42% 32% 10% Volume (m) Turnover (AEDm) 27,231 2.2% 3.1% 15.7% -4.1% US Futures 3,723 -0.1% 2.7% 11.1% 15.2% Europe Futures 3,541 -0.7% 1.3% 11.2% -4.8% # Last trading day's short sell positions Company Short Volume (shrs.) Short Volume (%) (103,000) 0.5% Aldar Properties - # Upcoming Corporate Actions & Events Date Company 9-Feb MSCI 1Q21 Index Announcment Date 11-Feb Ithmaar BoD/Results 14-Feb GFH BoD/Results 1-Mar MSCI 1Q21 Index Effective Date Event 21.5 68.5 - -
2. # Key Stories ADNOC Distribution board approves acquisition of 15 retail stations in Eastern Province of Saudi Arabia for purchase price of USD 10mln. Currently in discussions on a range of opportunities to further build on our network in country DXBE board approve to appoint advisors for evaluating offer received from Meraas Leisure and Entertainment Al Madina for Finance and Investment’s subsidiary has sold a 7% stake in Tatweer Capital Real Estate Company in exchange for KWD 1.98mln, earning profit of KWD 107,555 Orascom Construction to distribute interim dividend of USD 0.21 per share in Jan-21 UAE November CPI -2.41% YoY and -0.11% MoM - official data UAE on December 30 announced 1,723 new COVID-19 cases and 1,607 recoveries. The tally takes total cases in UAE to 206,092 with 183,007 recoveries and 665 deaths GCC says Qatar’s leader has been invited to the bloc’s summit meeting next week amid efforts to heal rifts between Doha and a Saudi-led alliance Remittances by expatriates in Saudi Arabia jumped by 19.57% or SAR 22.3bln yearly during the first eleven months of 2020 Saudi’s Arabian Centres board proposes SAR 0.50 per share H1 cash dividend Saudi CMA approves listing of Watani Iron Steel shares in parallel market Saudi's Takween signs agreement with Jofo to sell 70% stake in Advanced Fabrics. Deal for a price based on a total value of SAR 337.5mln for 100% of shares of subsidiary Bahrain’s Ahli United Bank board in consultation with KFH board agreed to extend suspension period for resumption of acquisition of AUB by KFH Egypt will auction USD 850mln in one-year dollar denominated T-bills on Jan. 4, the auction will be settled on Jan. 5 Egypt’s Amer Group Holding’s four units sign contract with Financial Group for Securitization to issue securitization bonds of EGP 607mln # Key Global Trends/ Market Clues Asian shares edged up on Thursday and were set to end a tumultuous 2020 at record highs, while growing investor hopes for a global economic recovery caused the dollar to fall further against most major currencies. MSCI's gauge of Asia-Pacific shares excluding Japan rose 0.1% to its latest peak, having explored fresh territory repeatedly late in the year. But year-end trading was typically thin. The index is set for a fourth-quarter gain of over 19%, which would be its strongest three-month performance since 2009, and a yearly rise just shy of 20%, which would be its highest since 2017. Chinese blue chips rose 1.45% on Thursday after official data showed that activity in China's service and factory sector expanded in December, albeit both at a slower pace than the previous month. The Hong Kong benchmark also rose 0.26%. Australian shares fell 0.80% after tighter restrictions on movement were announced in an effort to quash fresh COVID-19 cases. Global crude oil markets have lost about a fifth of their value in 2020 as strict coronavirus lockdowns paralysed much of the global economy, but prices have rebounded strongly from their lows as governments rolled out stimulus. On Thursday, the last trading day of 2020, Brent was trading down 25 cents, or 0.5%, at USD 51.38 a barrel, as of 0246 GMT and U.S. West Texas Intermediate (WTI) lost 0.2%, or 11 cents, to USD 48.29 a barrel. Brent and WTI have more than doubled from decadelows seen in April, putting past a year which marked the first negative prices for WTI that shocked investors globally.
3. The OPEC + group of oil producers fully complied with supply cuts in November, two sources from the alliance told Reuters ahead of the group's Jan. 4 meeting to discuss whether to boost production further from February. One of the sources said compliance from members in the Organization of the Petroleum Exporting Countries (OPEC) reached 104% while compliance was at 95% for their allies, including Russia, with overall compliance at 101%. A coronavirus vaccine developed by Chinese drug maker Sinopharm is 79.3% effective in protecting people from covid-19, according to interim data released by the company on Wednesday, paving the way for millions of Chinese vaccines to enter the global market. # UAE Stories ADNOC Distribution board approves acquisition of 15 retail stations in Eastern Province of Saudi Arabia for purchase price of USD 10mln. Plans to become one of the leading KSA fuel retailers by 2025 and currently in discussions on a range of opportunities to further build on our network in country. The board of DXB Entertainments has agreed to appoint advisors to assess the offer received from Meraas Leisure and Entertainment. The company has selected Allen & Overy as the legal advisor and KPMG Lower Gulf and Shuaa Capital as financial advisors, according to the company's disclosure to the Dubai Financial Market (DFM) on Wednesday. On 20 December, Meraas notified the board of DXBE about its plan to make a conditional cash offer to acquire all issued and paid-up ordinary shares of DXBE. Al Madina for Finance and Investment’s subsidiary has sold a 7% stake in Tatweer Capital Real Estate Company in exchange for KWD 1.98mln, earning profit of KWD 107,555. After completing the transaction, the group's ownership in Tatweer will decline to 48%, resulting in its reclassification from a subsidiary to an associate company. Orascom Construction to distribute interim dividend of USD 0.21 per share. UAE November CPI -2.41% YoY and -0.11% MoM - official data The United Arab Emirates on December 30 announced 1,723 new COVID-19 cases, bringing the total confirmed cases in the country to 206,092. At the same time, 1,607 more patients have recovered from the virus, taking the tally of recoveries in the UAE to 183,007. UAE's Ministry of Health and Prevention said. It has reported 3 deaths from COVID-19 during the past 24 hours. The nationwide death toll stands at 665. # GCC/MENA The Gulf Cooperation Council (GCC) says Qatar’s leader has been invited to the bloc’s summit meeting next week amid efforts to heal rifts between Doha and a Saudi-led alliance. Qatar’s Emir Sheikh Tamim bin Hamad Al Thani received a formal invitation from Saudi King Salman to the January 5 summit meeting of the six-nation GCC in Saudi Arabia, delivered by GCC SecretaryGeneral Nayef Falah Al-Hajraf. It is not clear if Sheikh Tamim – who was invited to the last summit but declined, sending then-Prime Minister Abdullah bin Nasser bin Khalifa Al Thani instead – will attend next month’s summit. Remittances by expatriates in Saudi Arabia jumped by 19.57% or SAR 22.3bln yearly during the first eleven months of 2020. Remittances stood at SAR 136.27bln in the January-November period of 2020, compared with SAR 113.97bln in the same period in 2019. In November, remittances surged by 29.8% on an annual basis to reach SAR 12.86bln. Saudi’s Arabian Centres board proposes SAR 0.50 per share H1 cash dividend. Saudi CMA approves listing of Watani Iron Steel shares in parallel market. Saudi's Takween signs agreement with Jofo to sell 70% stake in Advanced Fabrics Factory. Deal for a price based on a total value of SAR 337.5mln for 100% of shares of subsidiary. Book value of 70% ownership in subsidiary as of 30-Nov-2020 is around SAR 105.8mln. Net capital gain from transaction after writing off part of dues to Takween about SAR 57.6mln. According to the agreement, subsidiary
4. will reimburse actual working capital to Takween . Transaction total cash inflow between net purchase price amount and reimbursement of working capital will be SAR 293mln. Bahrain’s Ahli United Bank board in consultation with KFH board agreed to extend suspension period for resumption of acquisition of AUB by KFH. Extension of suspension until completion of KFH's updated assessments to be conducted by advisor. Egypt will auction USD 850mln in one-year dollar denominated T-bills on Jan. 4, the central bank said on Wednesday. The auction will be settled on Jan. 5. Egypt’s Amer Group Holding’s four units sign contract with Financial Group for Securitization to issue securitization bonds of EGP 607mln. (Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian Business)
5. # UAE Focus list Company MCAP PRICE (AEDm) (AED) HIGH - LOW 52WH 52WL VALUATION TTM P/E DIV HISTORICAL RETURN TTM P/B YLD (%)^ 1M% 3M% 6M% 12M% ADCB 42,162 6.06 8.15 3.82 11.64 0.77 6.3% (0.3) 7.3 22.4 (18.1) ADIB 17,252 4.75 5.85 3.19 10.95 0.91 5.8% 1.1 10.7 28.7 (4.6) 2,907 5.10 5.17 2.70 7.80 1.22 5.9% (1.4) 39.7 61.9 70.0 37.2 ADNIC ADNOC Dist 47,625 3.81 3.95 2.40 22.92 17.14 5.0% 10.1 11.5 32.2 Agthia 2,508 4.18 4.60 2.50 84.56 1.34 3.6% (2.6) 21.2 47.7 22.2 Air Arabia 5,973 1.28 1.61 0.87 NA 1.46 7.0% 3.2 14.3 4.1 (13.4) Ajman Bank 1,592 0.76 0.90 0.50 57.69 0.63 0.0% 5.9 9.1 26.3 (18.5) Al Waha Capital 2,139 1.10 1.18 0.62 NA 0.70 NA 4.8 13.4 61.8 10.0 Aldar Properties 25,160 3.20 3.26 1.35 14.08 1.01 4.5% 5.3 59.2 79.8 61.4 Amanat Holdings 2,025 0.81 0.92 0.56 137.76 0.81 2.7% (2.3) 2.9 (5.4) 1.1 383 0.26 0.50 0.20 NA 0.78 0.0% (2.3) (19.8) (11.1) (46.7) Aramex 6,427 4.39 4.49 2.00 17.83 2.51 3.8% 9.5 2.6 33.6 29.2 Bank of Sharjah 1,327 0.63 0.83 0.50 NA 0.41 0.0% (7.1) 19.2 2.8 (23.4) DAMAC Properties 7,684 1.27 1.75 0.36 NA 0.59 NA 7.6 37.9 85.4 70.9 Dana Gas 4,967 0.71 0.96 0.53 NA 0.63 7.7% 4.0 10.8 (20.4) Deyaar Development 1,601 0.28 0.38 0.18 43.69 0.35 0.0% 1.8 (3.1) (0.4) (26.1) Dubai Financial Market 7,440 0.93 0.98 0.50 51.24 0.96 2.7% 6.5 11.0 12.6 0.3 Dubai Investment 6,165 1.45 1.52 0.98 10.00 0.52 NA 16.0 26.1 25.0 20.4 Dubai Islamic Bank 33,380 4.61 5.86 3.04 8.81 0.89 7.6% 2.9 6.7 20.7 (8.6) DXB Entertainments 696 0.09 0.20 0.09 NA 0.61 0.0% (24.3) (35.1) (30.4) (51.1) Emaar Dev 11,120 2.78 3.97 1.79 5.59 1.02 0.0% 2.2 16.3 33.0 (29.1) Emaar Malls 24,337 1.87 1.94 0.98 21.34 1.28 0.0% 2.2 25.5 36.5 2.2 Emaar Properties 25,703 3.59 4.28 1.90 6.13 0.45 0.0% 12.9 28.7 31.5 (10.7) Emirates Integrated Tele 25,838 5.70 6.35 4.33 14.11 3.04 6.0% 0.9 7.5 14.6 10.0 Emirates NBD 67,903 10.75 13.90 6.33 9.15 0.82 3.7% (1.8) 0.9 21.3 (12.8) Amlak Finance Eshraq Investments - 746 0.32 0.46 0.16 NA 0.53 NA 1.6 2.9 47.9 Etisalat 148,367 17.06 17.46 11.02 16.59 3.17 4.7% (1.5) 2.4 4.3 First Abu Dhabi Bank 143,926 13.18 15.92 7.78 14.51 1.42 5.6% 4.4 17.3 17.3 (8.2) 2,191 0.61 0.93 0.45 17.38 0.63 5.6% 6.5 1.7 8.9 (22.9) GFH Gulf Navigation Holding IHC Julphar (0.6) 10.0 419 0.41 0.56 0.28 NA 0.79 0.0% 1.5 (3.7) (14.4) 76,318 41.90 42.00 6.20 34.66 13.44 NA 4.5 7.4 42.7 575.8 52.5 (33.4) 1,536 1.33 1.54 0.54 NA 1.40 0.0% (8.3) (2.9) 16.7 12,054 67.90 80.00 62.00 18.27 0.57 5.9% NA 8.2 1.5 National Bank of Fujairah 9,536 4.98 4.98 4.98 NA NA 1.9% NA NA NA 3.3 Tabreed 7,305 2.69 2.75 1.67 14.21 1.47 3.9% 3.5 20.6 39.4 40.1 RAK Bank Mashreqbank (3.4) 6,536 3.90 5.00 3.33 9.45 0.85 7.7% 8.3 9.9 6.6 (11.4) RAK Properties 960 0.48 0.48 0.33 8.83 0.25 8.3% 10.6 26.0 36.4 21.6 RAK Ceramics 1,481 1.49 1.81 1.24 18.00 0.64 9.6% 8.0 9.6 12.9 7.5 SALAMA 1,015 0.84 0.92 0.30 6.51 1.17 NA 1.1 (0.3) 74.5 54.1 Sharjah Islamic Bank 4,037 1.31 1.35 0.95 8.35 0.53 3.6% 9.2 12.9 18.0 16.3 SHUAA Capital 1,699 0.67 0.90 0.40 15.95 1.19 NA 7.2 1.7 28.8 (22.5) Takaful Emarat Insurance 230 1.53 1.60 1.07 NA 1.84 5.4% (2.5) 7.0 14.2 16.8 158,532 1.41 1.78 0.40 52.42 2.55 0.0% (4.4) 3.2 108.0 173.5 1,192 0.28 0.39 0.15 4.14 0.39 0.0% 0.7 (6.7) (7.3) 1.8 United Arab Bank 1,751 0.85 1.13 0.81 (Source: Bloomberg) ^ current dividend yield based on last year dividend declaration NA 1.05 0.0% (5.0) (5.0) (5.0) (15.0) TAQA Union Properties
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