UAE Market Brief - 1 May

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1. x QUOTE FOR THE DAY : May 1, 2016 "Patience is something you admire in the driver behind you and scorn in the one ahead. " Mac McCleary UAE Bank of Sharjah announced that its net profits fell by 5% in first quarter of 2016 in comparison to the first quarter of 2015. Dubai’s property market is yet to record spike in Mortgage lending from banks, with limited options for end users: Cluttons. DIFC signs agreement with DEC to co-operate in areas of financial studies, economics, research and corporate governance. Dubai Businesses are upbeat about stability as they don't expect any new challenges in Q2, after a strong Q1: DED survey. UAE picks the falcon design by Architect Santiago Calatrava, for Dubai World expo 2020 pavilion: National Media council. SIB'S DISTRIBUTED (for April) PROFIT RATES Watany Investment a/c. 0.16071% Savings Investment a/c. 0.64286% UNRESTRICTED INVESTMENT DEPOSITS (AED) 1month 1.1250% 3months 6 months 9 months 1 year 1.76786% 1.92857% 2.08929% 2.25% CUSTOMER WAKALA DEPOSIT RATES 1 month 1.25% 6 months 2.00% 3 months 1.75% 1 year 2.25% DFM General Index : EIBOR VALUE 1 month 0.64000 0.43575 2 months - 0.52300 3 months 1.06357 0.63660 6 months 1.28943 0.90415 1 year 1.61600 1.22950 STOCKS - DFM 3650 3250 OPEN: 3506.68 3050 HIGH: 3506.68 Last Two Months Emaar Properties 6.79 6.80 0.15 Arabtec 1.68 1.63 -2.98 19.00 18.90 -0.53 1.250 1.240 -0.80 Amlak Finance 1.59 1.56 -1.89 Dubai Islamic Bank Gulf Finance House 6.20 5.86 -5.48 0.882 0.905 2.61 Damac 2.800 2.580 -7.86 DFM CLOSE: 3491.91 Union Properties ADX Index : STOCKS - ADX SIB Aldar Properties 4350 4200 OPEN: 4562.34 Last Two Months 1.53 -0.65 0.840 -2.33 OPEN CLOSE 1.45 1.45 0.00 % CHG 2.69 2.72 1.12 18.90 1.34 Methaq Takaful 0.85 0.85 0.00 ADIB 4.46 4.05 -9.19 Dana Gas 0.56 0.57 1.79 ADCB 7.15 6.60 -7.69 First Gulf Bank 13.10 12.95 -1.15 LOW: 4516.63 Waha Capital 2.04 2.05 0.49 CLOSE: 4543.53 Union Cement 1.10 1.10 0.00 1,110.53 -1.64 10,186.18 +26.66 HIGH: 4562.34 4050 1.54 0.860 18.65 Etisalat 4500 % CHG CLOSE LOW: 3454.56 4650 LIBOR VALUE OPEN DP World ($) Air Arabia 3450 2850 2-May-16 3900 LATEST STOCK MARKET INDICATORS : Dow Jones: 17,773.64 -57.12 FTSE: Nasdaq: 4,775.36 -87.78 Nikkei: 16,666.05 S&P 500: 2,065.30 -10.51 DFMGI: 3,491.91 -15.04 Kuwait: 5,391.81 -37.59 ADX: 4,543.53 -44.67 Saudi: 6,805.84 -14.46 Hang Seng: 21,067.05 -320.98 6,322.40 -80.50 -624.44 Bahrain: Qatar:
2. Islamic Banking Malaysian Sukuk issuance rose 50 .5% in the first 2 months of 2016 compared to the same period in 2015: RAM Ratings. Danajamin has guaranteed MYR 635m sukuk murabahah program established by Dayang unit of Perdana Petroleum Bhd. Zurich insurance gets approval from Bank Negara & Malaysia’s finance ministry to buy 100 pct of shares of MAA takaful. GCC Bahrain must act to further reduce its fiscal deficit as falling oil prices since mid-2014 adversely affected the economy: IMF. Oman plans to build a major oil storage terminal on its south eastern coast spending $300 -400mln : Minister of Oil & Gas. Commodities Oil steadied after hitting 2016 highs but finished Apr trading 20% higher, with Brent crude at its best monthly gain in 7yrs. Gold rose as the Bank of Japan's decision to hold off expanding monetary stimulus weighed heavily on USD, & stocks fell. Forex USD fell vs yen due to Bank of Japan's decision not to ease policy further, while strong EZ growth data boosted the euro. GBP rose, as investors sold USD on expectations that Fed Reserve will not hurry to raise interest rates in coming months. FOREX RATES Prev. High Prev. Low AED Prev. High Prev. Low AED EUR 1.1460 1.1459 1.1333 4.2093 JPY 106.350 108.1900 106.2700 0.0345 GBP 1.4618 1.4669 1.4575 5.3692 CAD 1.255 1.2587 1.2495 2.9272 AUD 0.7610 0.7668 0.7582 2.7952 INR 66.100 66.5600 66.2800 0.0556 CHF 0.9592 0.9672 0.9565 3.8292 PKR 104.350 104.7800 104.6100 0.0352 MAJOR CHARTS EUR/USD price movements : Gold price movements : 1.15 1290 1.13 1.11 1240 1.09 1.07 OPEN: 1.1352 HIGH: 1.1459 LOW: 1.1333 CLOSE: 1.1454 Last Two Months INTERNATIONAL MURABAHA RATES 1 month 3 months 6 months 1 year 0.2000 0.4000 0.5750 0.8250 AED 0.1050 0.1700 0.3050 0.5500 USD SWAP RATES USD Last Two Months 1190 COMMODITIES USD 2 years 3 years 5 years 10 years 0.9076 1.0273 1.2492 1.6933 OPEN: 1265.88 HIGH: 1296.11 LOW: 1264.76 CLOSE: 1293.36 Gold LAST PRICE NET CHANGE 1,293.36 $ / ounce +42.96 Silver 17.87 $ / ounce +0.53 Dubai Crude 43.67 $ / barrel +1.95 Brent Crude 47.37 $ / barrel -0.40 WTI Crude 45.92 $ / barrel -0.11 FORTHCOMING ECONOMIC INDICATORS (FORECASTS) 02-05-16 - USD - ISM Manufacturing (APR) 03-05-16 - AUD - Reserve Bank of Australia Rate Decision (MAY3) 02-05-16 - CAD - RBC Canadian Manufacturing PMI (APR) 03-05-16 - GBP - Markit UK PMI Manufacturing s.a. (APR) 02-05-16 - USD - ISM Prices Paid (APR) 03-05-16 - CAD - Bank of Canada's Poloz Speaks on Panel in LA TERM OF THE DAY Adjusted Closing Price An adjusted closing price is a stock's closing price on any given day of trading that has been amended to include any distributions and corporate actions that occurred at any time prior to the next day's open. The adjusted closing price is often used when examining historical returns or performing a detailed analysis on historical returns. DISCLAIMER - This document is issued by Sharjah Islamic Bank (SIB), Sharjah, solely for the purpose of information to its staff's and customers. All efforts have been taken to ensure, facts and figures presented herein are as accurate and error free as possible. The data are subject to change without notice. The information contained within this document is not intended to buy or sell. The information contained within this document are obtained from sources that we believe are reliable, however, there is no guarantee on the part of their accuracy, nor should SIB be held responsible for any action taken on the above information. Please contact your respective branches or Treasury Dealing Room. Tel: 06 599 9171. Fax : 06 599 9181. E-mail : treasury&investmentdealingroom@sib.ae