UAE: Daily Market Trading Report - 8 May

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1. IS Morning Report Tuesday , May 08, 2018 Global & Regional Benchmarks Indices Close UAE Trading Summary 1Day 1Mnth 3Mnth YTD 1Y (AEDm) Change Change Change Change Change BUY SELL NET ADX 4,540 -0.4% -3.2% -0.8% ADX 170 170 - DFM 2,963 -0.3% -3.9% -10.9% -12.1% -12.6% Local 55% 53% 2% TASI 8,117 0.0% 2.1% 45% 47% -2% KWSEI 1,279 0.2% -0.5% 45% 52% -7% 17,523 -0.5% 55% 48% 7% Dow Jones 24,357 0.4% 1.8% 2.1% -1.5% 15.9% DFM 251 251 - S&P 500 2,673 0.3% 2.6% 3.6% 0.0% 11.4% Local 59% 52% 8% Nasdaq 7,265 0.8% 5.1% 7.2% 5.2% 19.0% Foreign 41% 48% -8% FTSE 100 7,567 0.9% 5.3% 4.0% -1.6% 3.7% Institutional 34% 43% -10% 12,948 1.0% 5.8% 5.6% 0.2% 2.0% Retail 66% 57% 10% 5,531 0.3% 5.2% 7.4% 4.1% 2.8% Total 421 421 - Nikkei225 22,549 0.4% 4.5% 3.0% -0.9% 13.3% Local 57% 52% 5% HIS 30,346 1.2% 1.7% -0.3% 43% 48% -5% EGX DAX CAC40 -1.3% 3.2% 9.6% 12.3% 18.3% Foreign -4.1% -4.0% -3.3% Institutional 0.6% 17.4% 16.7% 36.6% Retail 1.4% 23.5% Foreign Upcoming Corporate Actions & Events Date Company Event 6-May DIC Board Meeting 6-May SHUAA Board Meeting 9-May DXBE Board Meeting 9-May KHCB Board Meeting 13-May GFH Board Meeting Key Stories Bank of Sharjah reports 1Q18 profit of AED83.8m as against 1Q17 profit of AED57.9m, up 45% YoY Manazel Real Estate AGM Authorizes Board to Facilitate Upto AED 2.6 Bln Sukuk Issuance Integrated Securities (Regulated by the Securities & Commodity Authority) Al Bateen Towers, C2 P.O.Box 107077, Abu Dhabi, UAE Customer service: 8003437 / +971 24 942 777 Sales & Trading : +971 24 942 666 Facsimile: +971 26 354 669 Website: www.integratedsecurities.ae
2. IS Morning Report Tuesday , May 08, 2018 Abu Dhabi Ports signs 30-year deal with MSC to build terminal Gulf Capital acquires stake in Saudi fintech firm Dubai Holding to invest in digital bank, first product launch in 2019 Abu Dhabi Investment Authority Buys 1.6% of Strix Group Abraaj Said in Talks to Sell Fund Unit Stake to Colony NorthStar Saudi Arabia Q1 budget gap 34.3 bln riyals -finance ministry. Non-oil revenues jumped 63 percent to 52.3 billion riyals Zain Saudi swings to Q1 loss as it loses nearly 2 mln subscribers Saudi Arabia’s Ground Handling Logistics hires banks for IPO in 2019 No breakthrough in Ethiopian dam talks, Egypt says Yield on Egyptian dollar-denominated T-bill rises marginally -c.bank Egypt's Banque Misr Seeks $500 Million Loan to Fund Growth Plans Palm Hills Begins Sales in its Biggest Project to Date Rosneft CEO Sechin says welcomes Qatar as direct shareholder Global Markets Wrap: Oil prices eased slightly on Tuesday, a day after hitting 3-1/2 year highs, as investors braced for President Donald Trump's decision on whether to withdraw the United States from the Iran nuclear deal, a move that could disrupt global oil supply. Asian shares picked up, helped by technology stocks as generally upbeat earnings overcame weakness in the global smartphone market and concerns about more regulation. WTI crude futures had dropped 73 cents, or 1 percent, to $70 a barrel by 0240 GMT. At one point they fell below $70, after settling above that level for the first time since November 2014 on Monday. In currency markets, the dollar broadly held firm on the prospect of solid U.S. economic growth, helped partly by Trump's tax cuts and spending, pointed to further rises in U.S. interest rates down the road. The combination of higher oil prices, a strong dollar and higher U.S. rates is risky for some emerging market assets as it could significantly worsen their trade balance and also encourage investors to shift funds to higher-yielding U.S. assets. UAE: Manazel Real Estate AGM Authorizes Board To Facilitate Upto AED 2.6 Bln Sukuk Issuance. AGM authorizes board to facilitate sukuk issuance program for period of 5-7 years of up to AED 2.6 billion or equivalent to other currencies. Abu Dhabi Ports has signed a 30-year concession agreement with Mediterranean Shipping Company (MSC) to build a new container terminal at its Khalifa Port. Abu Dhabi, the capital of the United Arab Emirates (UAE), has spent billions developing the port, which opened in 2012, as part of ongoing efforts to diversify its oil-rich economy. Gulf Capital, an Abu Dhabi-based private equity firm, said on Monday it has bought a stake in Geidea, the leading provider of electronic payment solutions in Saudi Arabia, for a deal value exceeding 1 billion riyals ($267 million). The transaction comes just days after the launch of an initiative by Saudi ِArabia's central bank to promote financial technology in the kingdom, it said in a statement. Integrated Securities (Regulated by the Securities & Commodity Authority) Al Bateen Towers, C2 P.O.Box 107077, Abu Dhabi, UAE Customer service: 8003437 / +971 24 942 777 Sales & Trading : +971 24 942 666 Facsimile: +971 26 354 669 Website: www.integratedsecurities.ae
3. IS Morning Report Tuesday , May 08, 2018 Dubai Holding, the investment vehicle of the emirate's ruler, said it plans to invest up to 1 billion dirhams ($272 million) over the next five years in a digital bank in the United Arab Emirates that is expected to launch its first product in 2019. The move comes as Dubai and other cities across the Gulf region are competing to establish themselves as regional powerhouses in financial technology or fintech. Abraaj Group, the Middle East buyout firm roiled by allegations of misused funds, is in talks to sell a majority stake in its fund-management unit to Colony NorthStar Inc. to help stabilize the business, according to people with knowledge of the matter. Abu Dhabi Investment Authority took a position in Strix Group Plc, buying 1.6 percent of the company's outstanding stock. The sovereign wealth fund held 3.12 million shares, according to Strix Group's March 22 public share registry filing. The stock has a current market value of 4.36 million pounds ($5.92 million). Strix Group traded at 139.80 pence, down 4.7 percent year to date. GCC/ MENA: Saudi Arabia's first quarter budget deficit stood at 34.3 billion Saudi riyals ($9.15 billion), around 18 percent of the total gap forecast for 2018, the finance ministry said on Monday. The kingdom - which is making concerted efforts to diversify its oil-reliant economy - has projected a deficit of 195 billion riyals, or 7.3 percent of gross domestic product (GDP), this year, down from 230 billion last year. It plans to balance the budget by 2023. First quarter revenues reached 166.3 billion riyals, up 15 percent from the same period last year, the ministry said in a statement. Non-oil revenues jumped 63 percent to 52.3 billion riyals, mainly due to a 5 percent value-added tax and fees imposed on foreign workers introduced by the government in January. Mobile telecommunications company Zain Saudi swung to a loss in the first quarter, as it lost nearly two million subscribers over the period. Zain Saudi, part-owned by Kuwait's Zain Group, lost 77 million riyals ($20.5 million) in the January-March period, it said in a bourse statement on Monday. That compares with a profit of 45 million riyals in the same period a year ago. Saudi Arabia’s Ground Handling Logistics, a Riyadh-based airport services provider, is seeking to raise more than 1 billion Saudi riyals (Dh979 million) by floating 30 per cent of its shares on the kingdom's Tadawul exchange by next year. Technical talks between Egypt, Sudan and Ethiopia over a disputed dam Ethiopia is building on the Nile river failed to make a breakthrough, Egypt's foreign minister said on Monday, amid pressure for a deal before the project opens this year. Egypt and Ethiopia are at loggerheads over the construction of the Grand Renaissance Dam, a $4 billionhydroelectric project that Cairo fears will reduce waters that run to its fields and reservoirs from Ethiopia's highlands and via Sudan. The average yield at an auction of Egyptian one-year dollar-denominated treasury bills rose to 3.298 pct on Monday from 3.295 percent at the last similar auction in February. Egypt sold $1.1 billion of the bills and received $1.28 billion in offers. Appetite for Egypt's debt has grown since the central bank devalued the pound currency in November 2016 as part of a deal for a $12 billion International Monetary Fund loan. Banque Misr, Egypt’s second largest lender, has hired an international bank to manage a $500 million medium-term syndicated loan as it seeks to fund growth through low-cost debt. Rosneft Chief Executive Igor Sechin said on Monday he welcomed Qatar as a direct shareholder in Rosneft, as the Qatari sovereign investment fund prepared to become the sole owner of a major stake in the Russian energy company. Integrated Securities (Regulated by the Securities & Commodity Authority) Al Bateen Towers, C2 P.O.Box 107077, Abu Dhabi, UAE Customer service: 8003437 / +971 24 942 777 Sales & Trading : +971 24 942 666 Facsimile: +971 26 354 669 Website: www.integratedsecurities.ae
4. IS Morning Report Tuesday , May 08, 2018 Real estate developer has begun sales in the 3,000-feddan Badya project in west Cairo, Chairman and Co-Chief Executive Officer Yasseen Mansour tells reporters. ompany expects sales in Phase 1A of the project, formerly known as Oasis, to reach 3.25b Egyptian pounds this year; phase includes 1,020 apartments and 340 villas. (Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian Business) Daily Foreign Ownership Increase Company Name Foreign Change Ownershp (%) (%) Shares Mcap Change Change (AED) DSI 16.53% 0.14 1,499,383 1,679,309 Aramex 62.37% 0.06 878,460 3,434,779 GFH 73.12% 0.04 1,430,073 1,974,207 Gulf Nav 19.83% 0.04 367,684 378,714 GGICO 19.10% 0.03 537,400 155,309 Agthia 13.25% 0.02 120,000 526,800 Dubai Isl. Ins 12.48% 0.02 45,150 29,754 Aldar 25.77% 0.02 1,572,526 3,239,403 Manazel 19.72% 0.02 520,000 280,800 Ajman Bank 10.72% 0.01 168,032 166,352 Daily Foreign Ownership Decrease Company Name Foreign Change Ownershp (%) (%) Shares Mcap Change Change (AED) Dar Al Takaful 21.88% -0.11 (165,000) (108,900) Arabtec 18.33% -0.09 (1,350,000) (2,362,500) Islamic Arab Ins. 23.28% -0.06 (714,181) (294,030) Amlak Finance 20.51% -0.06 (885,000) (684,900) Shuaa Capital 17.48% -0.05 (532,500) (569,775) Deyaar Dev 10.43% -0.05 (2,889,000) (1,380,942) DIB 16.20% -0.04 (1,972,802) (11,149,578) 4.29% -0.04 (120,000) (74,400) 15.09% -0.03 (1,275,606) (2,321,603) 7.45% -0.03 (2,398,729) (2,397,600) Abu Dhabi Nat. C. BM Dubai Investments DFM (Source: ADX, DFM, Bloomberg, Reuters) Integrated Securities (Regulated by the Securities & Commodity Authority) Al Bateen Towers, C2 P.O.Box 107077, Abu Dhabi, UAE Customer service: 8003437 / +971 24 942 777 Sales & Trading : +971 24 942 666 Facsimile: +971 26 354 669 Website: www.integratedsecurities.ae
5. IS Morning Report Tuesday , May 08, 2018 Institutional Sales and Trading Team Harshjit Oza harshjit@integratedsecurities.ae Direct Line: +971 2 494 2608 Disclaimer This report was prepared by Integrated Securities (“IS”) in and for the United Arab Emirates (“U.A.E.”). IS is a securities brokerage company regulated by the Emirates Securities and Commodities Authority (and neither an investment nor a financial advisory firm). The information contained in this report is given in summary and does not purport to be complete. All securities and financial product or instrument transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments and, in international transactions, currency risk. Content of this report is provided solely for informational purposes and private circulation and should not be construed as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities or any other financial product or instrument, or adopting any hedging or investment strategy and does not take into account your particular investment objectives, financial situation, tax implications or any other needs. Before acting on any information you should consider and confirm the appropriateness of the information having regard to these matters, any relevant offer document and in particular, you should seek professional financial advice. While based on information believed to be reliable, we do not guarantee and make no express or implied representation as to the accuracy of this report or complete description of the securities markets or developments referred to in this report. The information, contained in this report are as of the date indicated and are subject to change at any time without prior notice. This report may provide the addresses of, or contain hyperlinks to, websites. IS has not reviewed any such site and takes no responsibility for the content of the same. Such address or hyperlink is provided solely for your convenience and information and the content of any such website does not in any way form part of this document. Accessing such website or following such link through this report or IS’s website shall be at your own risk. The stated price of any securities mentioned in this report is as of the date indicated and is not a representation made by IS that any transaction can be effected at this price. This report is for UAE distribution and only under such circumstances as may be permitted by applicable law. The information contained in this report is not intended nor can it be construed as intended to be directed to any US persons (being any US Citizens, US Green Card Holders, or Resident Aliens subject to US income taxes for IRS purposes) unless stated otherwise. Neither IS nor its officers, directors or shareholders or other persons shall be liable for any direct, indirect, incidental or other damages including loss of profits arising in any way from the information contained in this report. This report is a mere update intended solely for the use by the intended recipients and the content of it may not be reproduced, redistributed or copied in whole or in part for any purpose without IS’s prior express consent. Integrated Securities (Regulated by the Securities & Commodity Authority) Al Bateen Towers, C2 P.O.Box 107077, Abu Dhabi, UAE Customer service: 8003437 / +971 24 942 777 Sales & Trading : +971 24 942 666 Facsimile: +971 26 354 669 Website: www.integratedsecurities.ae