UAE: Daily Market Trading Report - 31 January

Transcription

1. Morning Report 31 January 2021 # Market Stats # UAE Trading Summary Indices Close 1M 3M Change Change Change 1Y Change AEDm Buy Sell Net ADX 5,642 -0.4% 10.5% 21.1% 9.0% ADX 452 452 - DFM 2,697 -1.1% 7.3% 23.3% -3.4% Local 61% 41% 20% TASI 8,807 0.3% 1.1% 8.4% 7.8% Foreign 39% 59% -20% BHSEASI 1,457 -0.4% -2.2% 2.1% -11.5% Institutional 83% 81% 2% EGX 11,579 0.0% 8.6% 10.1% -15.0% Retail 17% 19% -2% Dow Jones 29,983 -2.0% -1.2% 12.5% 4.3% DFM 286 286 S&P 500 3,714 -1.9% -0.3% 12.2% 13.5% Local 56% 47% 9% Nasdaq 13,071 -2.0% 1.7% 16.9% 40.9% Foreign 44% 53% -9% 6,407 -1.8% -3.0% 14.8% -14.4% Institutional 36% 51% -15% 13,433 -1.7% -2.4% 15.8% 0.7% Retail 64% 49% 15% 5,399 -2.0% -3.8% 18.2% -9.3% Total 738 738 - Nikkei225 27,663 -1.9% 0.3% 18.6% 18.3% Local 59% 44% 15% HIS 28,284 -0.9% 6.5% 15.0% 4.1% Foreign 41% 56% -15% FTSE 100 DAX CAC40 - # Last trading day's short sell positions Company Short Volume (shrs.) Short Volume (%) (2,916,476) 32.0% 9.1 3.3 RAK Pro. (427,297) 6.8% 6.3 3.7 Aldar (295,097) 1.0% 31.0 109.2 ADCB (154,835) 4.3% 3.6 23.3 FAB (137,796) 1.6% 8.7 130.2 Manazel # Upcoming Corporate Actions & Events Date Company Event 31-Jan ADCB BoD/Results 31-Jan Mazaya BoD/Results 1-Feb Easy Lease BoD/Results 2-Feb DFM BoD/Results 2-Feb Drive BoD/Results 2-Feb RAK Bank BoD/Results 9-Feb MSCI 1Q21 Index Announcment Date 10-Feb MASQ BoD/Results Volume (m) Turnover (AEDm)
2. # Key Stories First Abu Dhabi Bank has raised CHF 260mln (USD 292.10mln) through the first green bonds deal of its kind. The six-year bonds were priced at 0.068%, inside its Swiss francs curve Aldar is planning an international bond issuance soon, two sources familiar with the matter said National Bank of Fujairah posted FY net loss of AED 475.3mln vs profit of AED 552.2mln year ago. FY operating income AED 1.4bln vs AED 1.7bln year ago Drake and Scull international said that Criminal Court of Amman begins proceedings in the Khaldoun Al Tabari case DEWA allocates USD 1.16bln for Expo 2020 sustainability themes Dubai says local companies have to sell shares in local stock markets before seeking international listings. International companies must list their shares in local stock markets when their revenues from Dubai reach 50% and higher or when their local assets reach 50% Russia's RDIF, Mubadala and partners acquire 7.85% share in Aliexpress Russia JV from Alibaba group – RDIF UAE adopts amendments to grant citizenship to investors and other professionals Dubai will roll out China's Sinopharm vaccine to the general public starting today UAE on January 30 announced 3,647 new COVID-19 cases and 2,770 recoveries. The tally takes total cases in UAE to 300,661 with 272,769 recoveries and 838 deaths Saudi government to invest USD 220bln in Riyadh development over next 10yrs - official Saudi Aramco will launch further share sales - Saudi crown prince Saudi Arabia is extending its travel-restriction period and shift the date for reopening the Kingdom’s borders from March 31 to May 17 Saudi’s Bahri posted Q4 net profit after zakat and tax SAR 77.54mln, down 68.9% YoY. Board proposes H2 cash dividend of SAR 1 per share Saudi's CMA approves the capital increase request of Halwani Brothers Company through the issuance of bonus shares Qatar's Commercial Bank is planning to raise at least USD 1bln through bond issues in the coming months - CEO # Key Global Trends/ Market Clues Silver prices jumped and global equity markets sank on Friday amid a growing battle on Wall Street between hedge funds and retail investors, while a dispute over COVID-19 vaccine supply in Europe cooled risk appetite. Disappointing vaccine data from Johnson & Johnson also hurt sentiment. MSCI's benchmark for global equity markets fell 1.82% to 642.57, while Europe's broad FTSEurofirst 300 index closed down 1.95% at 1,524.1 to post its worst weekly loss, at 3.3%, since October. On Wall Street, the Dow Jones Industrial Average fell 2.03%, the S&P 500 lost 1.93% and the Nasdaq Composite dropped 2%. The three indexes suffered their biggest weekly fall since the end of October. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.1% to post a weekly loss of 4.4%. Japan's Nikkei fell 1.9%, recording its first weekly loss of the year.
3. U .S. oil prices settled slightly lower after trading in a tight range on Friday, as investors worried about the lingering global pandemic and slow vaccine rollouts. The most active global Brent crude contract also ended lower on concerns about vaccine distribution and the efficacy of one vaccine. Global benchmark Brent crude futures for March settled up 36 cents, or 0.6% a barrel, at USD 55.88. The Brent March contract expires on Friday. The more active April contract settled down 6 cents a barrel, at USD 55.04. U.S. West Texas Intermediate (WTI) crude futures fell 14 cents, or 0.3%, to USD 52.20. # UAE Stories First Abu Dhabi Bank has raised CHF 260mln (USD 292.10mln) through the first green bonds deal of its kind, it said in a statement on Thursday. The six-year bonds are the bank's fifth green issuance but the first in Swiss francs for the Middle East and North Africa region. They were priced at 0.068%, inside its Swiss francs curve, FAB said. Aldar is planning an international bond issuance soon, two sources familiar with the matter said. Ripe market conditions have led to record-setting deals in recent weeks, including the region's lowestyielding Additional Tier 1 issuance from Saudi Arabia's biggest lender, National Commercial Bank, and the lowest coupon on Gulf bank senior bonds from Qatar National Bank, the Gulf's biggest lender. National Bank of Fujairah posted FY net loss of AED 475.3mln vs profit of AED 552.2mln year ago. FY operating income AED 1.4bln vs AED 1.7bln year ago. Drake and Scull international said that Criminal Court of Amman begins proceedings in the Khaldoun Al Tabari case. Public prosecutor issues indictment as well as an arrest warrant against his daughter Zeina Al Tabari. Public prosecutor in Amman, Jordan, has filed an indictment against Khaldoun Saeed Al Tabari, Zeina Khaldoun Al Tabari, and Saleh Mustafa Muradweijin criminal case no. (9994/2019) on charges that include the felony of committing fraud in buying, selling, or managing movable and immovable state or public authority funds. UAE’s public funds prosecution had accused the former Drake & Scull CEO of several transgressions, namely, appropriating funds from a public joint-stock company, squandering funds, profiteering and mismanagement, along with other financial crimes. DEWA allocates USD 1.16bln for Expo 2020 sustainability themes. DEWA will provide Expo 2020 with clean energy from the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world using the Independent Power Producer model. Dubai says local companies have to sell shares in local stock markets before seeking international listings. International companies must list their shares in local stock markets when their revenues from Dubai reach 50% and higher or when their local assets reach 50%. The Russian Direct Investment Fund (RDIF) said it had completed a joint investment to acquire 7.85% of AliExpress Russia, alongside the UAE's Mubadala Investment Company and other Middle East sovereign wealth funds. AliExpress Russia is an e-commerce venture between Chinese online
4. shopping giant Alibaba and Russian partners . The acquisition of shares was completed on Jan. 28, the RDIF said in a statement. The United Arab Emirates has adopted amendments that would allow the Gulf state to grant citizenship to investors and other professionals including scientists, doctors and their families, the government said on Saturday. Dubai said on Saturday it will roll out China's Sinopharm vaccine to the general public as coronavirus infections surge in the Middle East tourism hub. The Sinopharm campaign will start on Sunday, the Dubai media office said in a statement, adding all Emirati nationals are eligible for the vaccine. Senior residents could also benefit from the campaign, it added. The United Arab Emirates on January 30 announced 3,647 new COVID-19 cases, bringing the total confirmed cases in the country to 300,661. At the same time, 2,770 more patients have recovered from the virus, taking the tally of recoveries in the UAE to 272,769. UAE's Ministry of Health and Prevention said. It has reported 12 deaths from COVID-19 during the past 24 hours. The nationwide death toll stands at 838. # GCC/MENA Saudi Arabia's Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, said that oil giant Saudi Aramco will hold further share sales. Saudi Arabia's government will invest USD 220bln in developing Riyadh over the next 10 years, the head of the royal commission for the capital told Reuters on Thursday. Saudi Crown Prince Mohammed bin Salman announced earlier a plan to make Riyadh one of the world's biggest 10 cities under his economic reform plan to diversify the kingdom's oil-dependent economy. Saudi Arabia is extending its travel-restriction period and shift the date for reopening the Kingdom’s borders from March 31 to May 17 due to delays in delivery of COVID-19 vaccines, authorities said on Friday. Saudi’s Bahri posted Q4 net profit after zakat and tax SAR 77.54mln, down 68.9% YoY. Q4 total revenue SAR 1,268.09mln, down 34.6% YoY. Board proposes H2 cash dividend of SAR 1 per share. Saudi's CMA approves the capital increase request of Halwani Brothers Company through the issuance of bonus shares. Qatar's Commercial Bank is planning to raise at least USD 1bln through bond issues in the coming months, Chief Executive Joseph Abraham said, as the bank looks to take advantage of positive market conditions to boost its capital. (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% ADCB 44,806 6.44 7.83 3.82 12.37 0.81 5.9% 4.2 9.7 28.3 ADIB 18,196 5.01 5.80 3.19 11.55 0.96 5.5% 5.9 15.2 36.9 (5.7) 2,833 4.97 5.17 2.95 7.60 1.19 6.0% (2.5) 24.3 57.8 65.7 ADNIC ADNOC Dist 12M% (9.9) 48,375 3.87 3.96 2.40 23.29 17.41 4.9% 2.1 15.5 27.0 31.3 Agthia 3,773 5.24 5.59 2.50 106.01 1.68 2.9% 26.0 25.1 85.2 67.1 Air Arabia 5,927 1.27 1.61 0.87 NA 1.45 7.1% (0.0) 15.5 12.4 (9.0) Ajman Bank 1,615 0.77 0.90 0.50 58.52 0.64 0.0% (1.4) 10.6 29.9 (11.6) Al Waha Capital 2,158 1.11 1.20 0.62 NA 0.71 NA (0.9) 8.8 19.1 21.0 Aldar Properties 27,519 3.50 3.82 1.35 15.40 1.11 4.1% 8.7 27.7 103.5 71.0 Amanat Holdings 2,020 0.81 0.92 0.56 137.41 0.81 2.7% (0.9) 4.7 (6.4) 6.6 377 0.25 0.48 0.20 NA 0.76 0.0% (2.3) (7.0) (23.0) (43.8) Aramex 6,442 4.40 4.49 2.00 17.87 2.52 3.8% (0.0) 11.4 35.4 28.7 Bank of Sharjah 1,361 0.65 0.83 0.50 NA 0.42 0.0% 4.5 22.3 22.3 (20.0) DAMAC Properties 8,289 1.37 1.75 0.36 NA 0.63 NA 3.0 25.7 46.8 Dana Gas 4,785 0.68 0.93 0.53 NA 0.61 8.0% (3.7) 0.6 Deyaar Development 1,693 0.29 0.36 0.18 46.21 0.37 0.0% 5.4 Dubai FiNAcial Market 9,840 1.23 1.29 0.50 67.77 1.27 2.0% 34.0 Dubai Investment 7,016 1.65 1.72 0.98 11.38 0.59 NA 14.6 Dubai Islamic Bank 36,493 5.04 5.78 3.04 9.63 0.98 6.9% DXB Entertainments 664 0.08 0.20 0.08 NA 0.58 0.0% Emaar Dev 11,760 2.94 3.97 1.79 5.91 1.07 Emaar Malls 23,556 1.81 1.99 0.98 20.66 1.24 Emaar Properties 27,207 3.80 4.22 1.90 6.49 Emirates Integrated Tele 30,144 6.65 6.71 4.33 Emirates NBD 74,536 11.80 13.85 732 0.32 0.46 Etisalat 172,891 19.88 First Abu Dhabi Bank 164,018 2,339 Amlak FiNAce Eshraq Investments GFH Gulf Navigation Holding IHC Julphar 96.8 (5.1) (18.4) 7.7 5.4 (17.5) 47.0 47.8 36.0 44.7 43.5 36.0 8.6 21.2 32.6 (3.6) (12.6) (27.8) (35.2) (56.1) 0.0% 5.4 28.9 40.7 (22.8) 0.0% (3.2) 22.3 33.1 (0.5) 0.48 0.0% 6.1 42.3 46.7 (5.9) 16.46 3.55 5.1% 15.9 19.2 32.4 22.8 6.33 11.80 0.88 3.4% 11.8 24.2 33.0 (9.5) 0.16 NA 0.52 NA 20.98 11.02 19.34 3.69 4.0% 14.6 17.8 18.7 15.02 15.56 7.78 16.17 1.51 4.9% 14.5 31.1 37.0 2.4 0.65 0.93 0.45 18.56 0.67 5.3% 4.2 15.4 11.0 (20.3) (0.9) 3.3 (0.6) 3.3 28.8 391 0.38 0.55 0.28 NA 0.74 0.0% (5.7) (7.9) 83,786 46.00 47.96 12.80 38.05 14.76 NA 10.0 19.9 41.2 248.5 82.8 (23.7) (17.4) 1,791 1.55 1.55 0.54 NA 1.63 0.0% 10.7 4.0 42.2 11,974 67.45 72.05 62.00 18.15 0.57 5.9% (0.7) (0.8) 0.8 National Bank of Fujairah 9,536 4.98 4.98 4.98 NA NA 1.9% NA NA NA 3.3 Tabreed 7,522 2.77 2.95 1.67 14.63 1.51 3.8% 5.7 13.1 39.2 41.3 RAK Bank 6,754 4.03 4.95 3.33 9.76 0.88 7.4% 3.9 13.5 16.8 (8.8) RAK Properties 1,160 0.58 0.64 0.33 10.67 0.30 6.9% 23.1 50.6 54.7 37.7 RAK Ceramics 1,659 1.67 1.81 1.24 20.17 0.72 8.6% 11.3 980 0.81 0.92 0.30 6.28 1.13 NA Sharjah Islamic Bank 4,222 1.37 1.40 0.95 8.73 0.55 SHUAA Capital 1,808 0.71 0.84 0.40 16.97 Mashreqbank SALAMA Takaful Emarat Insurance (4.2) 19.3 27.5 15.5 (4.1) 8.0 42.8 64.4 3.5% 3.8 18.1 22.3 16.9 1.27 NA 6.4 16.9 26.6 (12.9) 237 1.58 1.60 1.18 NA 1.90 5.2% 5.3 10.5 11.3 13.7 163,030 1.45 1.78 0.44 53.90 2.62 0.0% 1.4 1.7 16.3 211.7 1,197 0.28 0.39 0.15 4.15 0.39 0.0% (0.4) (1.1) (3.1) 38.1 United Arab Bank 1,664 0.81 0.90 0.81 (Source: Bloomberg) ^ current dividend yield based on last year dividend declaration NA 1.00 0.0% (4.9) (9.7) (9.7) (9.9) TAQA Union Properties
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