GCC Morning Brief - 24 April

Transcription

1. U Capital Research U Capital Morning Brief GCC Market Indices 24 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 1,008.72 1,151.80 1,008.51 64.14 5,474.54 6,968.75 6,819.04 10,197.33 1,336.65 1,006.02 1,169.63 1,023.54 64.52 5,474.42 6,899.00 6,813.53 10,241.61 1,334.42 2.70 -17.83 -15.03 -0.38 0.12 69.75 5.51 (44.28) 2.22 0.27% -1.52% -1.47% -0.59% 0.00% 1.01% 0.08% -0.43% -0.22% 0.22% 0.73% -0.60% -1.37% -0.47% -2.99% -1.86% -4.20% -2.25% -0.99% -1.66% -5.33% -3.35% 18.63% -2.29% 0.17% -1.43% 9.52% Dubai Financial Market 3,469.82 3,505.70 (35.88) -1.02% -0.30% -1.73% Abu Dhabi Sec. Exchange 4,521.63 4,531.63 (10.00) -0.22% 1.76% -0.54% 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 United Kingdom Germany France 7,114.6 12,048.6 5,059.2 (3.99) 21.25 (18.71) (0.06) 0.18 (0.37) USA USA USA 20,547.8 2,348.7 5,910.5 (30.95) (7.15) (6.26) (0.15) (0.30) (0.11) NIKKEI 225 Japan 18,867.1 245.67 1.32 HANG SENG Hongkong 24,007.5 (36.55) (0.15) United States DJIA S&P 500 NASDAQ Commodity Prices* Price Change USD USD % Brent Crude (per bbl ) Updated 52.25 0.29 0.56 WTI Crude (per bbl ) Updated 49.86 0.24 0.48 Oma n Crude Oi l 50.90 (0.92) (1.78) 1,274.81 (9.25) (0.72) 17.83 (0.11) (0.59) (0.22) % (Last Clo sing) Gol d100 OZ (per oz) Si l ver (per oz) D/D Asia Pacific Selected Middle East Pl a tinum (per oz) 970.39 (2.11) Copper, MT 5,623.00 0.00 0.00 Al umi ni um, MT 1,933.50 (9.50) (0.49) Tunis Se Index Tunis 5,641.9 21.27 0.38 Lea d, MT 2,142.00 (17.50) (0.81) EGX 30 Index Egypt 12,544.9 (360.93) (2.80) Zi nc, MT 2,584.00 (48.00) (1.82) Blom Stock Index Lebanon 1,170.0 (1.32) (0.11) Ni ckel , MT 9,345.00 (135.00) (1.42) 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 Euro EUR 1.085 0.921 Bri ti s h Pound GBP 1.280 0.781 110.100 Ja pa nes e Yen Units/1 USD JPY 0.009 Chi nes e Renmi nbi CNH 0.145 6.886 Indi a n Rupee INR 0.016 64.493 Rus s i a n Rubl e RUB 0.018 56.464 Ca na di a n Dol l a r CAD 0.742 1.348 Aus tra l i a n Dol l a r AUD 0.756 1.323 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 Oman’s gross domestic product falls 5% to OMR25.5b Oman’s gross domestic product (GDP)at market prices fell by 5.1 per cent to OMR25,489.8 million in 2016 from OMR26,850.3 million in the previous year, according to preliminary data released by the National Centre for Statistics and Information (NCSI) on Sunday. Source: Times of Oman Oman's exports drop to OMR9.42b in the first eleven months Total exports of Oman declined by 24.2 per cent to OMR9,416.9 million for the first eleven months of 2016, from OMR12,429.8 million for the same period of previous year, mainly on account of a fall in commodity prices. Source: Times of Oman Oman needs $11bn in power sector investment by 2021, says Apicorp The rising demand for electricity will require Oman’s power generation capacity to grow at an annual rate of 9.9 per cent over the next five years and the country will need to add 5.3GW capacity by 2021, requiring a total investment of US$11bn, according to Arab Petroleum Investment Corporation (Apicorp). Source: Muscat Daily Qalhat LNG’s 2016 revenues at $855m Qalhat LNG, which owns one of the three trains that together make up the integrated LNG complex at Qalhat in South Al Sharqiyah Governorate, achieved revenues totalling $855 million in 2016. This compares with revenues of $870 million in 2015. Source: Oman Observer Liwa NGL plant Phase 3 work to begin this week The ground-breaking for the third phase of the $6.5-billion Liwa Plastics Industries Complex of Oman Oil Refineries and Petroleum Industries (Orpic) is to be held on Thursday in Fahud. The contract is for construction of the $688-million natural gas liquids (NGL) extraction plant in Fahud. The ceremony will be held under the patronage of Supreme Council for Planning Secretary General HE Sultan Bin Salim Al Habsi. Source: Oman Tribune MIDDLE EAST ECONOMIC & CORPORATE NEWS Power generation capacity in Mena region to touch 440GW by 2020 To keep pace with demand forecasts and to restore or maintain reserve margins of at least 15 per cent, most utilities across the Middle East and North Africa region will have to undertake an extensive capacity-building programme in the period up to 2020. Source: Times of Oman These are the Saudi pay cuts that were reversed by royal decree Saudi Arabia’s King Salman issued a royal decree on Saturday restoring bonuses and allowances for public sector employees and military personnel that were previously suspended under austerity measures amid lower oil prices. Below is a list of the pay cuts and bonuses that were reinstated. Source: Argaam New corporate governance rules come into effect in Saudi Arabia The Capital Market Authority’s (CMA) new corporate governance regulations that came into effect on Saturday is a significant organizational shift, head of corporate governance, Zaid Al-Mufrih, told Argaam. Source: Argaam Individual credit scoring system to empower UAE banks and customers Al Etihad Credit Bureau’s (AECB) recent launch of individual credit scores for UAE citizens and residents is expected to empower banking customers in the UAE to command better pricing of loans and enhance responsible lending, according to bankers. Source: Zawya Saudi Arabia to invest $2bln in cultural projects Saudi Arabia and Oman will lead the GCC’s multi-billion dollar investments in cultural tourism, with a series of projects to develop new world-class cultural attractions, according to a report published ahead of Arabian Travel Market, taking place on April 24- 27, 2017 at Dubai World Trade Centre. Source: Zawya 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 Saudi Arabia said to mull awarding licenses to 15 US firms Saudi Arabia is planning to issue licenses to a minimum of 15 US firms in May to operate in the kingdom , Reuters reported, citing two unnamed Saudi officials on Thursday. Source: Argaam INTERNATIONAL ECONOMIC & CORPORATE NEWS U.S. stocks futures rally after centrist takes first round in French election U.S. stock index futures rose sharply on Sunday on relief that centrist Emmanuel Macron took the first round of voting in the French presidential election, reducing the prospect of an anti-establishment market shock. Source: Reuters Euro jumps, Asian shares rally on French election relief The euro vaulted to five-month peaks in choppy Asian trading on Monday after the market's favored candidate won through the first round of the French election, reducing the risk of a Brexit-like shock and sparking a mass unwinding of safe-haven trades. Source: Reuters Germany's Merkel encouraged U.S. will consider EU free trade deal German Chancellor Angela Merkel fueled expectations of a future EU-U.S trade deal on Sunday, saying she was "very encouraged" talks were being looked at after her recent trip to Washington. Source: Reuters COMMODITIES NEWS Gold Sinks Most in More Than Seven Weeks as French Tension Eases Gold sank the most in more than seven weeks as investors returned to riskier assets on speculation pro-growth centrist Emmanuel Macron will become France’s next president after the first round of voting, potentially removing a threat to the euro zone from one of the region’s top economies. Source: Bloomberg 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 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. 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