GCC Morning Brief - 1 February

Transcription

1. U-Capital Research U-Capital Morning Brief GCC Market Indices 1 February 2017 Current Close Previous Close Change Index Index Point Muscat Securities Market Saudi Stock Exchange Kuwait Stock Exchange Qatar Exchange Bahrain Stock Exchange 1 ,037.87 1,175.31 1,027.43 65.56 5,776.17 7,101.86 6,832.22 10,597.22 1,303.70 1,036.37 1,186.29 1,034.91 66.08 5,751.38 7,132.39 6,839.11 10,747.83 1,304.06 Dubai Financial Market 3,642.85 Abu Dhabi Sec. Exchange 4,548.82 U-Capital Oman 20 Index U-Capital GCC 50 Index U-Capital MENA 200 Index Bloomberg GCC200 Index D/D MTD % % YTD % 1.50 -10.98 -7.48 -0.52 24.79 (30.53) (6.89) (150.61) (0.36) 0.14% -0.93% -0.72% -0.79% 0.43% -0.43% -0.10% -1.40% -1.44% -0.25% 0.86% 0.52% -0.11% -1.51% 18.86% 1.54% -1.44% -0.25% 0.86% 0.52% -0.11% -1.51% 18.86% 1.54% -0.03% 6.82% 6.82% 3,678.79 (35.94) -0.98% 3.17% 3.17% 4,590.88 (42.06) -0.92% 0.05% 0.05% Source: Bloomberg World Markets* Country Value Change Europe FTSE 100 DAX CAC 40 D/D Commodity Prices* Price Change USD USD % Brent Crude (per bbl) Updated 55.44 (0.14) (0.25) WTI Crude (per bbl) Updated 52.73 (0.08) (0.15) Oman Crude Oil 53.73 0.13 0.24 1,208.70 (1.90) (0.16) Silver (per oz) 17.47 (0.08) (0.47) 994.45 (0.54) (0.05) % D/D United Kingdom Germany France 7,099.2 11,535.3 4,748.9 (19.33) (146.58) (35.74) (0.27) (1.25) (0.75) USA USA USA 19,864.1 2,278.9 5,614.8 (107.04) (2.03) 1.07 (0.54) (0.09) 0.02 NIKKEI 225 Japan 19,147.5 106.84 0.56 Platinum (per oz) HANG SENG Hongkong 23,195.2 (165.55) (0.71) Copper, MT 5,991.00 171.00 2.94 Selected Middle East Aluminium, MT 1,819.00 17.00 0.94 Tunis Se Index Tunis 5,492.9 (36.68) (0.66) Lead, MT 2,371.00 29.00 1.24 EGX 30 Index Egypt 12,672.5 (253.58) (1.96) Zinc, MT 2,860.00 83.00 2.99 0.47 Nickel, MT 9,955.00 275.00 2.84 (Last Clo sing) United States DJIA S&P 500 NASDAQ Gold100 OZ (per oz) Asia Pacific Blom Stock Index Lebanon 1,217.8 5.68 So urce: B lo o mberg, U-Capital- at 8:30A M M uscat time Source: Bloomberg, U-Capital- at 8:30AM M uscat time Cross Rate for Major Currencies* Currency Code USD/1 Unit Euro EUR 1.079 0.927 Bri ti s h Pound GBP 1.258 0.795 Ja pa nes e Yen Units/1 USD JPY 0.009 113.240 Chi nes e Renmi nbi CNH 0.146 6.836 Indi a n Rupee INR 0.015 67.660 Rus s i a n Rubl e RUB 0.017 60.206 Ca na di a n Dol l a r CAD 0.764 1.309 Aus tra l i a n Dol l a r AUD 0.757 1.322 Source : Bloomberg Note: all prices/ indices are updated till 8:30 AM M uscat time.* markets are closed on Saturday and Sunday 1 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 24754301/672 l Fax: +968 24125125 l Email: info@u-capital.net l Web: www.u-capital.net
2. U-Capital Research OMAN ECONOMIC & CORPORATE NEWS Ministry signs oil concession agreement to develop Block 48 in Oman Oman’s Ministry of Oil and Gas on Tuesday signed an exploration and production sharing agreement with Oman Oil Company Exploration and Production for developing block 48, located between Al Wusta and Al Dhahira regions. Source: Times of Oman Duqm refinery’s shareholder agreement to be signed soon A shareholder agreement between Oman Oil Company and Kuwait Petroleum International for building Duqm refinery will be finalized soon. Kuwait Petroleum had shown interest in developing the refinery as a 50:50 equity joint venture with Oman Oil Company last year, after Abu Dhabi’s International Petroleum Investment Company backed out from the project. Source: Times of Oman Oman Oil Company plans to invest $1b this year, says CEO A whopping investment of $1 billion is being planned by Oman’s state investment arm, Oman Oil Company, and its subsidiaries to build various projects this year, according to a top-level official of the state-owned firm. Source: Times of Oman Fuel prices go up by 10 baisas The FUEL prices will go up by10 baisas in February. The official website of the Oil and Gas Ministry said the prices will go up for M-95, M-91 and diesel. The committee in-charge of studying and fixing the sale price of oil products on Tuesday approved the new pricing for oil products in February. Source: Oman Tribune Business heads upbeat about growth in the medium term A vast majority of business heads in the Sultanate are confident of their organization’s growth over the next three years despite a period of prolonged reduced oil prices, according to a survey. KPMG, in its 2017 Oman CEO Outlook Survey, said as much as 96 per cent of CEOs in the Sultanate believe that their companies will continue to focus on certain core competencies to grow business over the next three years – including innovation. Source: Oman Tribune MIDDLE EAST ECONOMIC & CORPORATE NEWS MENA hospitality markets witness revenue decline in 2016 Hospitality markets across the Middle East and North Africa (MENA) region witnessed a negative performance in 2016 compared to 2015, according to the EY Middle East Hotel Benchmark Survey Report. The majority of markets experienced a drop in RevPAR (revenue per available room) due to a slower global economy, making 2016 a challenging year for the hospitality industry, the report said. Source: Oman Observer Saudi CMA tells loss-making firms to disclose restructuring plans Saudi Arabia’s Capital Market Authority (CMA) on Tuesday issued a new board resolution that requires loss-making firms to disclose their plans for remedying their status by April 21, 2017 in compliance with Article 150 of the new corporate law. Source: Argaam Saudi Aramco said to shut unit at Ras Tanura refinery in May Saudi Aramco plans to shut down its condensate splitter at Ras Tanura refinery for scheduled maintenance in May, trading sources were quoted as saying by Reuters on Monday. Source: Argaam Saudi cabinet gives final approval for VAT Saudi Arabia’s cabinet approved on Monday the Gulf region's unified agreement on value added tax (VAT), the Saudi Press Agency (SPA) reported. Source: Argaam Arab countries' FDI outflows jump to $28.4bn FDI outflows from Arab Countries witnessed a leap of 96 percent, jumping from $14.5bn to $28.4bn. The Arab investment outflows constituted 1.9 percent of the global total of $1.47 trillion and 7.5 percent of developing countries’ total $378bn, according to an updated data released by Arab Investment and Export Credit Guarantee Corporation. Source: Zawya 2 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 24754301/672 l Fax: +968 24125125 l Email: info@u-capital.net l Web: www.u-capital.net
3. U-Capital Research UAE 's Mars mission will enable space tourism, official says Dr Khalifa Al Rumaithi, chairman of the UAE Space Agency, reiterated the UAE’s interest in space tourism on the sidelines of the Global Space Congress in Abu Dhabi on Tuesday. Source: Zawya Dubai's Imdaad announces $16mln acquisition fund Facilities management company Imdaad announced on Tuesday it has established a Dh60-70 million ($16-$19 million) acquisition fund. Jamal Lootah, CEO of the Dubai-based company, said the firm was looking at horizontal expansion, seeking high-margin firms specialising in areas complementing Imdaad’s existing operations. Source: Zawya Kuwait Plans Power Company IPO as Part of Economic Overhaul Kuwait plans to list a power and water company this year, as part of plan to overhaul its economy following the slump in oil prices. A 50 percent stake of the company, established with the private sector in November, will be sold to Kuwaiti citizens, Oil Minister Essam Al-Marzouk said at a press conference to announce the government’s so-called Vision 2035 plan in Kuwait on Monday. Source: Bloomberg INTERNATIONAL ECONOMIC & CORPORATE NEWS iPhone sales lift Apple to record quarter Apple on Tuesday reported a rebound in iPhone sales to lift the tech giant to record revenue in the past quarter in quarterly results that eased concerns of slowing growth. Source: MenaFN Dollar holds losses after White House trade comments The dollar struggled in Asia Wednesday after the previous day's hefty sell-off as Donald Trump and one of his key economic advisers again hit out at other nations using their weaker currencies to gain a trade advantage. Source: MenaFN Turkey Says More Tightening Possible as Inflation Surges Turkey’s central bank said further tightening of monetary policy remains “on the table,” and that the lira’s rapid plunge has put the inflation target out of reach until 2019. Source: Bloomberg COMMODITIES NEWS Oil markets range-bound as supplies remain plentiful amid OPEC-led cuts Oil dipped on Wednesday, weighed by ongoing high supplies despite an OPEC-led production cut, but prices remained within a narrow range that has bound the market since late January. Brent crude futures LCOc1, the international benchmark for oil prices, were trading at $55.48 per barrel at 0140 GMT, down 10 cents from their last close. Source: Reuters <Please scroll down for information on Proposed Cash Dividends on MSM> 3 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 24754301/672 l Fax: +968 24125125 l Email: info@u-capital.net l Web: www.u-capital.net
4. U-Capital Research Proposed Cash Dividend for 2016 Company Name 2016 OMAN CABLES INDUSTRY NATIONAL BANK OF OMAN BANK DHOFAR SHELL OMAN MARKETING TAAGEER FINANCE AHLI BANK NATIONAL FINANCE OMAN ORIX LEASING BANK SOHAR BANK MUSCAT UNITED FINANCE HSBC OMAN OMAN OIL MARKETING OMAN REFRESHMENT OMAN FIBER OPTIC NAT . PHARMACEUTICAL IND. Cash Div DPS OMR Proposed Cash OMR Div payout 85.0% 15.9% 13.5% 106.0% 13.0% 10.0% 14.0% 9.0% 5.0% 25.0% 10.0% 5.0% 60.0% 100.0% 30.0% 10.0% 0.085 0.016 0.014 0.106 0.013 0.010 0.014 0.009 0.005 0.025 0.010 0.005 0.060 0.100 0.300 0.010 7,624,500 23,478,518 20,853,835 10,070,000 3,296,670 14,250,361 3,795,755 2,259,355 8,022,497 62,406,256 3,107,649 10,001,564 3,676,500 5,000,000 2,164,535 500,000 50.0% 42.1% 43.8% 62.9% 73.7% 48.1% 59.8% 40.8% 42.0% 35.3% 69.0% 59.3% 38.3% 48.4% 85.3% 38.0% 180,507,996 43.0% Source: MSM Note: Proposed dividends of companies with year end of December Ubhar Capital SAOC (U-Capital) Website: www.u-capital.net PO Box 1137 PC 111, Sultanate of Oman Tel: +968 24754301/672 Fax: +968 2412 5125 Email: research@u-capital.net Disclaimer: This report has been prepared and issued by Ubhar Capital SAOC (U-Capital) on the basis of publicly available information. While the utmost care has been taken to ensure that the facts stated are accurate, neither U-Capital nor any of its employees shall be in anyway responsible for the contents. 4 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 24754301/672 l Fax: +968 24125125 l Email: info@u-capital.net l Web: www.u-capital.net