GCC Morning Brief - 16 April

Transcription

1. U Capital Research U Capital Morning Brief GCC Market Indices 16 April 2017 Current Close Previous Close Change D /D MTD YTD Index Index Point % % % Muscat Securities Market Saudi Stock Exchange Kuwait Stock Exchange Qatar Exchange Bahrain Stock Exchange 1,019.74 1,173.95 1,026.30 65.34 5,571.62 7,076.92 7,007.89 10,451.47 1,356.22 1,015.26 1,176.06 1,026.30 65.57 5,557.36 7,099.13 7,042.12 10,489.28 1,357.29 4.48 -2.11 0.00 -0.23 14.26 (22.21) (34.23) (37.81) (1.07) 0.44% -0.18% 0.00% -0.35% 0.26% -0.31% -0.49% -0.36% 0.87% 2.15% 2.51% 1.26% 0.38% 1.08% -0.31% 0.59% -3.16% -0.37% 0.75% 0.18% -3.65% -1.85% 21.92% 0.14% -0.08% 0.02% 11.13% Dubai Financial Market 3,509.34 3,540.60 (31.26) -0.88% 0.83% -0.61% Abu Dhabi Sec. Exchange 4,518.14 4,555.06 (36.92) -0.81% 1.68% -0.62% U-Capital Oman 20 Index U-Capital GCC 50 Index U-Capital MENA 200 Index Bloomberg GCC200 Index 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 55.89 0.03 0.05 WTI Crude (per bbl ) Updated 53.18 0.07 0.13 Oma n Crude Oi l 54.71 0.06 0.11 1,285.69 (2.19) (0.17) 18.54 (0.00) (0.02) % D/D United Kingdom Germany France 7,327.6 12,109.0 5,071.1 (21.40) (45.70) (30.01) (0.29) (0.38) (0.59) USA USA USA 20,453.3 2,329.0 5,805.2 (138.61) (15.98) (31.01) (0.67) (0.68) (0.53) NIKKEI 225 Japan 18,335.6 (91.21) (0.49) Pl a tinum (per oz) 973.15 (0.69) (0.07) HANG SENG Hongkong 24,261.7 (51.84) (0.21) Copper, MT 5,692.00 64.00 1.14 Al umi ni um, MT 1,909.00 11.00 0.58 United States DJIA S&P 500 NASDAQ (Last Clo sing) Gol d100 OZ (per oz) Si l ver (per oz) Asia Pacific Selected Middle East Tunis Se Index Tunis 5,619.7 (3.16) (0.06) Lea d, MT 2,239.00 (3.00) (0.13) EGX 30 Index Egypt 12,967.4 (16.98) (0.13) Zi nc, MT 2,625.00 23.00 0.88 Blom Stock Index Lebanon 1,180.2 5.61 0.48 Ni ckel , MT 9,750.00 15.00 0.15 Source: Bloomberg, U-Capital- at 8:30AM M uscat time So urce: B lo o mberg, U-Capital- at 8:30A M M uscat time Cross Rate for Major Currencies* Currency Code USD/1 Unit Units/1 USD Euro EUR 1.062 0.942 Bri ti s h Pound GBP 1.252 0.798 Ja pa nes e Yen JPY 0.009 108.640 Chi nes e Renmi nbi CNH 0.145 6.887 Indi a n Rupee INR 0.016 64.411 Rus s i a n Rubl e RUB 0.018 56.343 Ca na di a n Dol l a r CAD 0.750 1.333 Aus tra l i a n Dol l a r AUD 0.758 1.319 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 2494 9000 l Fax: +968 2494 9099 l Email: info@u-capital.net l Web: www.u-capital.net
2. U Capital Research OMAN ECONOMIC & CORPORATE NEWS U Capital: MSM30 declined; many companies’ results show nonoperational pressures The MSM30 posted a weekly decline of 0.74% at 5,571.62 impacted by factors such as companies’ results and cautiousness among investors, which affected trades. Keynote about the previous week is that most of the initial results were announced during the last trading day, many of them after trading hours, which played big role in increasing cautiousness among investors. Source: Muscat Daily Omani banks achieve 8 percent growth in credit at OMR22b Omani banks, including Islamic institutions, have achieved a year-on-year growth of 8.1 per cent in credit at OMR22.2 billion by the end of February 2017. Credit to the private sector increased by 9.5 per cent to OMR20.1 billion as at the end of February 2017, the Central Bank of Oman said in its monthly report. Source: Times of Oman Sultanate seeks bigger share of multi-billion-dollar e-commerce pie The Sultanate is drawing up plans to energize the growth of its fledging e-commerce industry which, if suitably developed, has the potential to contribute tens of billions of dollars annually to the national GDP. Source: Oman Observer Omani firm adds new gas train to Block 5 operations Daleel Petroleum, ranked among the top five producers of crude in the Sultanate, has awarded a contract for the establishment of a new gas treatment train to its processing facilities in Block 5 onshore Oman in Dhahirah Governorate. The contract, representing the Phase 2 expansion of the company’s gas processing plant. Source: Oman Observer Oman plans revised foreign capital investment law Oman’s Foreign Capital Investment Law, an important statute that provides assurance to foreign investors that their capital in the Sultanate is safe and secure, is being revamped to bring it into line with modern trends and developments, according to the Central Bank of Oman (CBO). Source: Zawya MIDDLE EAST ECONOMIC & CORPORATE NEWS Saudi Aramco invites firms to bid on $4.5 bln gas project Saudi Aramco is tendering the main packages of a project worth $4.5 billion to expand gas processing capacity at Haradh and Hawiyah, MEED reported on Thursday. Prequalified companies have until July 3, 2017 to submit their bids. Source: Argaam UAE-Saudi trade reaches $22.88bln Trade between the UAE and Saudi Arabia currently accounts for AED84 billion, while the total value of Emirati projects in Saudi Arabia is estimated at AED15 billion, according to Sultan bin Saeed Al Mansouri, Minister of Economy. Source: Zawya Saudi banks, bin Laden companies face $4.2bln U.S. lawsuit by 9/11 insurers More than two dozen U.S. insurers affiliated with Travelers Cos have sued two Saudi banks, companies affiliated with Osama bin Laden's family, and several charities for at least $4.2 billion over the Sept. 11, 2001 attacks. Source: Zawya Qatar 'well placed' to overcome new era of lower oil prices Further subsidy cuts, a moderate recovery in global commodity prices, and the introduction of VAT are expected to improve Qatar's fiscal and external balances over the near to medium term, the International Monetary Fund has said. Source: Arabian Business Dubai's state utility unveils $270m substations plan Dubai Electricity and Water Authority (DEWA) has unveiled plans to build three new 400 kilovolt (kV) substations over the next three years, with an allocated budget of AED1 billion ($270 million). Source: Arabian Business Arabtec updates its plan to recovery Arabtec yesterday published an update to the three-step recapitalization plan that it hopes shareholders will pass as part of a latest round of fund raising aimed at wiping out accumulated losses. Source: The National UAE 2 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 2494 9000 l Fax: +968 2494 9099 l Email: info@u-capital.net l Web: www.u-capital.net
3. U Capital Research INTERNATIONAL ECONOMIC & CORPORATE NEWS U.S. retail sales, inflation data highlight weak first quarter growth U.S. retail sales fell for a second straight month in March and consumer prices dropped for the first time in just over a year, underscoring the magnitude of the loss of economic growth momentum in the first quarter. Source: Reuters Global sovereign fund assets stall at $6.59trillion Sovereign wealth fund (SWF) assets all but stalled at $6.59 trillion in the year to March 2017 due to a combination of weak markets, low oil prices and shifts in government policy, a report from research provider Preqin showed. Source: Zawya Apple receives permit in California to test self-driving cars Apple Inc has secured a permit to test autonomous vehicles in California, fueling speculation that it is working on self-driving car technology in a crowded arena of companies hoping to offer those cars to the masses. Source: Reuters Uber's revenue hits $6.5 billion in 2016, still has large loss Ride-hailing service Uber Technologies Inc generated $6.5 billion in revenue last year and its gross bookings doubled to $20 billion, the company said on Friday. Its adjusted net loss was $2.8 billion, excluding the operation in China it sold last year, Uber said. Source: Reuters COMMODITIES NEWS IEA cuts oil demand growth forecast for 2017 The International Energy Agency (IEA) lowered its oil demand growth forecast for this year, citing weaker economic growth expected in some countries. Source: The National UAE Most oil producers want extension of output cuts: Iran minister Most oil producers support an extension of output cuts by OPEC and non-OPEC countries, and Iran would also back such a move, Iranian Oil Minister Bijan Zanganeh was quoted as saying. "(Zanganeh) stressed that most countries want OPEC's decision to be extended," the Iranian Students' News Agency (ISNA) reported. Source: Reuters 3 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 2494 9000 l Fax: +968 2494 9099 l Email: info@u-capital.net l Web: www.u-capital.net
4. U Capital Research Net Profit (Loss) OMR' 000 SALALAH PORT SERVICES AL ANWAR CERAMIC TILES VOLTAMP ENERGY ALMAHA CERAMICS NATIONAL BISCUIT INDUSTRIES GULF MUSHROOM PRODUCTS PORT SERVICES CORPORATION UBAR HOTELS and RESORTS NATIONAL MINERAL WATER GULF INVESTMENT SERVICES MAJAN GLASS OMANI EURO FOODS INDUSTRIES DHOFAR TOURISM OMAN CHROMITE SHELL OMAN MARKETING AL KAMIL POWER NAT. PHARMACEUTICAL IND OMAN PACKAGING AL BATINAH HOTELS NATIONAL DETERGENT OMAN CERAMIC COMPANY AL JAZEERA SERVICES GULF HOTELS (OMAN) MUSCAT THREAD MILLS SWEETS OF OMAN UNITED FINANCE OMAN TEXTILE HOLDING AL MADINA TAKAFUL AL OMANIYA FINANCIAL SER. SMN POWER HOLDING AL BATINAH DEV. INV. HOLDING RENAISSANCE SERVICES OMAN REFRESHMENT DHOFAR CATTLE FEED AL SHARQIA INVESTMENT HOLDING COMPUTER STATIONERY IND. OMAN CEMENT BANK MUSCAT SEMBCORP SALALAH THE FINANCIAL CORPORATION MUSCAT FINANCE OMAN UNITED INSURANCE OMAN NATIONAL ENGINE. INVT. 1Q'16 1Q'17 YoY 1,567 1,149 670 632 265 154 812 344 (3) 437 (241) (11) (146) (27) 4,024 730 328 304 64 399 61 537 805 (6) 53 1,152 (119) 463 1,403 1,986 124 451 1,711 (126) 923 91 3,843 43,750 3,177 (86) 1,212 2,330 299 (1,020) 549 733 486 253 113 542 316 (221) (64) (264) 12 (109) 102 3,048 4 345 296 (115) 321 43 363 653 61 (179) 757 (68) 786 1,329 (1,091) 41 (2,568) 1,429 (238) 358 66 2,212 44,230 271 36 983 2,012 482 -165% -52% 9% -23% -5% -27% -33% -8% -115% -24% -99% 5% -3% -281% -19% -29% -32% -19% -435% -34% 70% -5% -155% -67% -669% -16% -61% -28% -42% 1% -91% -142% -19% -14% 61% 4 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 2494 9000 l Fax: +968 2494 9099 l Email: info@u-capital.net l Web: www.u-capital.net
5. U Capital Research Net Profit (Loss) OMR' 000 1Q'16 1Q'17 YoY OMAN CABLES INDUSTRY AHLI BANK SALALAH MILLS ALMAHA PETROLEUM PRODUCTS MAR OMAN AND EMIRATES INV. HOLDING UNITED POWER PHOENIX POWER NATIONAL BANK OF OMAN BANK DHOFAR DHOFAR BEVERAGES FOOD STUFF NATIONAL ALUMINIUM PRODUCTS BANK SOHAR ASAFFA FOODS RAYSUT CEMENT SHARQIYAH DESALINATION GLOBAL FINANCIAL INVESTMENT HSBC BANK OMAN NATIONAL GAS ALIZZ ISLAMIC BANK GULF STONES OMINVEST BANK NIZWA OMAN ORIX LEASING OMAN HOTELS AND TOURISM NATIONAL FINANCE MUSCAT NATIONAL HOLDING TAAGEER FINANCE AL JAZEERA STEEL PRODUCTS SOHAR POWER OMAN CHLORINE OMAN OIL MARKETING CONSTRUCTION MATERIALS IND AL SUWADI POWER GALFAR ENGINEERING AND CON SALALAH BEACH RESORT ACWA POWER BARKA AL BATINAH POWER OOREDOO ABRASIVES MANUFACTURING MUSCAT GASES DHOFAR FISHERIES AND FOOD IND GULF INTERNATIONAL CHEMICALS OMAN TELECOMMUNICATION DHOFAR INSURANCE AL HASSAN ENGINEERING TAKAFUL OMAN INSURANCE 4,660 7,000 770 2,052 3,060 174 (5,577) 13,900 13,558 (4) 141 4,163 1,337 8,081 93 558 3,500 933 (1,295) 108 6,269 (466) 1,315 4,685 1,432 330 1,065 819 510 447 2,120 34 (2,866) 1,218 142 2,472 (2,736) 12,600 (62) 293 (61) 237 34,800 (563) 52 1,001 3,256 5,200 1,348 1,693 (246) 431 (11,987) 13,800 12,511 (126) (163) 5,992 687 3,090 (209) 375 5,700 500 (744) 42 8,255 593 1,335 393 1,479 573 910 1,302 (1,969) 301 1,865 (27) (5,728) 66 25 (977) (6,223) 7,000 (64) 175 (144) 140 23,800 (1,283) 78 786 -30% -26% 75% -17% -108% 148% Total 197,787 131,110 -33.7% -1% -8% -216% 44% -49% -62% -323% -33% 63% -46% -61% 32% -227% 2% -92% 3% 74% -15% 59% -486% -33% -12% -180% -95% -82% -140% -44% -40% -41% -32% 50% -21% Source: MSM 5 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 2494 9000 l Fax: +968 2494 9099 l Email: info@u-capital.net l Web: www.u-capital.net
6. U Capital Research Ubhar Capital SAOC (U Capital) Website: www.u-capital.net PO Box 1137 PC 111, Sultanate of Oman Tel: +968 2494 9000 Fax: +968 2494 9099 Email: research@u-capital.net Disclaimer: This report has been prepared by research department in Ubhar Capital SAOC (U Capital), and is provided for information purposes only. Under no circumstances is to be used or considered as an offer to sell or solicitation of any offer to buy. While all reasonable care has been taken to ensure that the information contained therein is not untrue or misleading at the time of publication, we make no representation as to its accuracy or completeness and it should not be relied upon as such, and the bank accepts no responsibility whatsoever for any direct or indirect consequential loss arising from any use of this report or its contents. All opinions and estimates included in this document constitute U Capital’s Research department judgment as of the date of production of this report, and are subject to change without notice. This report may not be reproduced, distributed or published by any recipient for any purpose. 6 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 2494 9000 l Fax: +968 2494 9099 l Email: info@u-capital.net l Web: www.u-capital.net