GCC Morning Brief - 24 January

Transcription

1. U-Capital Research U-Capital Morning Brief GCC Market Indices 24 January 2017 Current Close Previous Close Change D /D MTD Index Index Point % % % Muscat Securities Market Saudi Stock Exchange Kuwait Stock Exchange Qatar Exchange Bahrain Stock Exchange 1,041.76 1,164.73 1,032.56 65.88 5,770.06 7,013.18 6,679.62 10,950.34 1,274.36 1,040.74 1,162.67 1,026.38 65.46 5,750.91 6,898.93 6,641.78 10,959.82 1,259.55 1.02 2.06 6.18 0.42 19.15 114.25 37.84 (9.48) 14.82 0.10% 0.18% 0.60% 0.64% 0.33% 1.66% 0.57% -0.09% -1.07% -1.15% 1.37% 1.01% -0.22% -2.74% 16.21% 4.92% -1.07% -1.15% 1.37% 1.01% -0.22% -2.74% 16.21% 4.92% 1.18% 4.42% 4.42% Dubai Financial Market 3,707.45 3,716.98 (9.53) -0.26% 5.00% 5.00% Abu Dhabi Sec. Exchange 4,657.57 4,698.78 (41.21) -0.88% 2.45% 2.45% U-Capital Oman 20 Index U-Capital GCC 50 Index U-Capital MENA 200 Index Bloomberg GCC200 Index YTD 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 55.52 0.29 0.53 WTI Crude (per bbl) Updated 52.98 0.23 0.44 Oman Crude Oil 53.65 (0.25) (0.46) 1,216.76 (1.45) (0.12) Silver (per oz) 17.17 (0.07) (0.39) 982.83 0.48 0.05 47.00 0.82 % D/D United Kingdom Germany France 7,151.2 11,545.8 4,821.4 (47.26) (84.38) (29.26) (0.66) (0.73) (0.60) USA USA USA 19,799.9 2,265.2 5,552.9 (27.40) (6.11) (2.39) (0.14) (0.27) (0.04) NIKKEI 225 Japan 18,836.7 (51.21) (0.27) Platinum (per oz) HANG SENG Hongkong 22,973.8 71.64 0.31 Copper, MT 5,795.00 Selected Middle East Aluminium, MT 1,849.50 4.50 0.24 Tunis Se Index Tunis 5,588.6 15.15 0.27 Lead, MT 2,357.00 48.00 2.08 EGX 30 Index Egypt 13,002.9 280.81 2.21 Zinc, MT 2,790.00 23.00 0.83 (0.25) Nickel, MT 9,710.00 10.00 0.10 (Last Clo sing) United States DJIA S&P 500 NASDAQ Gold100 OZ (per oz) Asia Pacific Blom Stock Index Lebanon 1,198.3 (2.97) 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 1.076 0.930 Bri ti s h Pound GBP 1.251 0.800 Ja pa nes e Yen JPY 0.009 112.780 Chi nes e Renmi nbi CNH 0.147 6.814 Indi a n Rupee INR 0.015 68.120 Rus s i a n Rubl e RUB 0.017 59.414 Ca na di a n Dol l a r CAD 0.756 1.323 Aus tra l i a n Dol l a r AUD 0.758 1.320 Units/1 USD 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 Oman’s oil production costs to come down The unit operating cost for per barrel of oil is likely to come down to in the range of $8.3 or $8.5 from around $9.5 per barrel in the previous year, said H.E Salim al Aufi, Under-Secretary of Ministry of Oil and Gas yesterday. Source: Oman Observer ‘Saving on expenditure in oil and gas sector at $1.5 billion’ Oman was able to reduce its expenditure in oil and gas sector to the tune of $1.5 billion in 2016, compared to its original budgeted expenditure. Also, the ministry of oil and gas could redeploy 3,500-4,000 Omani workers from oil and gas sector within the industry and other areas. Source: Times of Oman Market regulators of Brunei, Oman sign cooperation deal A memorandum of understanding (MoU) for exchanging information and mutual cooperation was signed by the monetary authority of Brunei and the Capital Market Authority (CMA) of Oman. Source: Times of Oman ‘Fuel subsidy cut caused marked fall in petrol demand’ Removing the fuel subsidy early last year has resulted in a marked decline in demand for both petrol (gasoline) and diesel as the culture of consumption has undergone a drastic change, according to a top-level official at the Ministry of Oil and Gas. Source: Times of Oman Plan for Duqm pipeline at early stage A proposal to route Saudi crude overland to Duqm remains at an early stage and any decision would have to be taken by Oman Tank Terminal Company (OTTCO), which is planning a $400-million crude storage park near the port. Source: Oman Tribune Tanfeedh panel reviews performance indicators The Supervising Committee for the Labour Market and Employment Lab held a meeting to follow up implementation of the Tanfeedh Programme. Source: Oman Tribune Atkins to advise OPWP to meet power demand Oman Power and Water Procurement Company (OPWP), member of Nama group, has appointed Atkins Power & Renewables to provide technical advisory services for the development of the Power 2021 Procurement Cycle, the company said in a release. Source: Oman Tribune MIDDLE EAST ECONOMIC & CORPORATE NEWS GCC banks stay resilient on higher capital buffer Banks in the Gulf Cooperation Council (GCC) countries have built sufficient buffers to remain resilient to a weakened operating environment in 2017-2018, according to S&P Global Ratings. Source: Oman Tribune Dur plans to build 14 hotels in Saudi Arabia, says CEO Saudi-listed Dur Hospitality is planning to build 14 new hotels across the kingdom over the coming period as part of its strategy to explore investments not only in major cities, but also in small towns, such as Taif and Hail. Source: Argaam Dubai home prices are set for another year of decline, says CBRE Dubai home prices are set for another year of decline with supply outstripping demand even as developers delay the completion of properties, according to real estate adviser CBRE Group. Source: MenaFN Saudi Electricity to look into SAR 80 mln corruption case Saudi Electricity Co. (SEC) has formed an internal committee to look into the misuse of public funds in contracts amounting to SAR 80 million, the company said in a statement obtained by Argaam. Source: Argaam 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 Najran Cement ’s sales likely to drop further in 2017: CEO Najran Cement expects to see its sales fall by 10 to 12 percent this year, the company’s chief executive Badr Al Johar told CNBC Arabia on Monday. Source: Argaam Fitch affirms Abu Dhabi at AA with stable outlook Fitch Ratings has affirmed Abu Dhabi's long-term foreign and local currency Issuer Default Ratings (IDRs) at ‘AA’ with a stable outlook, driven by the emirate’s strong fiscal and external metrics and high GDP per capita, the ratings agency said on Monday. Source: Argaam Mouwasat to build SAR 400 mln hospital in Madinah Mouwasat Medical Services Co. plans to build a SAR 400 million hospital on land it purchased from Emaar EC in Madinah, the company said in a statement to Tadawul Monday. Source: Argaam INTERNATIONAL ECONOMIC & CORPORATE NEWS Japan January flash manufacturing PMI shows fastest expansion in almost three years The U.S. Securities and Exchange Commission is investigating a previously disclosed data breach at Yahoo Inc, the company said in a filing. Source: Reuters Yahoo beats Wall Street view, sees Verizon deal closing in second quarter Yahoo Inc on Monday reported better-than-expected quarterly profit and revenue, and said the sale of its core internet business to Verizon Communications Inc should be completed in the second quarter, allaying some investor concerns that the deal might collapse. Source: Reuters COMMODITIES NEWS Miner Centamin won't bid in Egypt gold tender, terms not viable Centamin Plc , which runs Egypt's only commercial gold mine, said it would not bid in the country's new gold exploration tender because the terms are not commercially viable. Source: Zawya Oil slides as U.S. drilling recovery outweighs OPEC-led cuts Oil prices fell nearly 2 percent on Monday as signs of a strong recovery in U.S. drilling overshadowed news that OPEC and non-OPEC producers were on track to meet output reduction goals set in December. Source: Zawya <Please scroll below for MSM Corporate Results Announcements> 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 MSM Net Profit OMR (000) Company Name BANKMUSCAT SAOG BANK DHOFAR SAOG BANK SOHAR NATIONAL BANK OF OMAN SAOG HSBC BANK OMAN AHLI BANK BANK NIZWA AL IZZ ISLAMIC BANK Banking Sub Sector OMAN UNITED INSURANCE CO MUSCAT NATIONAL HOLDING DHOFAR INSURANCE AL MADINA TAKAFUL CO SAOC Insurance Sub Sector NATIONAL FINANCE CO MUSCAT FINANCE UNITED FINANCE CO OMAN ORIX LEASING CO. AL-OMANIYA FINANCIAL SERVICE TAAGEER FINANCE Financial Leasing Sub Sector FINANCIAL SERVICES CO. GLOBAL FIN INVESTMENT OMINVEST GULF INVESTMENTS SERVICES FINANCIAL CORP/THE DHOFAR INTL DEVELOPMENT AL BATINAH DEV & INV AL SHUROOQ INV SER OMAN & EMIRATES INV(OM)50% AL SHARQIYA INVEST HOLDING Investment & Brokerage Sub Sector Total Financial Sector FY'15 FY'16 Y-oY 175,451 46,765 27,746 60,106 12,930 27,727 (5,260) (5,356) 340,108 3,311 92 (3) 828 4,227 6,021 4,356 5,241 5,272 6,657 4,421 31,968 (290) 1,415 22,949 (1,086) (710) 1,905 88 (351) (2,816) 138 21,241 176,600 47,621 19,112 55,817 16,857 29,600 110 (4,725) 340,992 4,364 1,304 (9,860) 1,661 (2,532) 6,349 4,902 4,505 5,531 5,311 4,474 31,072 (136) 1,235 23,205 453 (171) 7,525 298 (823) 2,799 1,210 35,595 0.7% 1.8% -31.1% -7.1% 30.4% 6.8% 397,544 405,128 -11.8% 0.26% 31.8% 1317.4% 100.6% -160% 5.4% 12.5% -14.0% 4.9% -20.2% 1.2% -2.80% -53.1% -12.7% 1.1% -75.9% 295.1% 239.0% 134.3% 779% 67.58% 1.91% 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
5. U-Capital Research INDUSTRIAL SECTOR NATIONAL BISCUIT INDUSTRIES SWEETS OF OMAN DHOFAR BEVERAGES CO OMAN REFRESHMENT CO NATIONAL MINERAL WATER AREEJ VEGETABLE OILS SALALAH MILLS CO OMAN EUROPE FOODS INDUSTRIES DHOFAR CATTLEFEED DHOFAR FISHERIES & FOOD INDU SOHAR POULTRY DHOFAR POULTRY A'SAFFA FOODS SAOG GULF MUSHROOM COMPANY Food & Beverage Industry Sub Sector OMAN CEMENT CO RAYSUT CEMENT CO Cement Sub Sector AL-HASSAN ENGINEERING CO GALFAR ENGINEERING&CONTRACT Engineering & Construction Sub Sector OMAN TEXTILE HOLDING CO SAOG MUSCAT THREAD MILLS CO Textiles Sub Sector GULF STONE OMAN CHROMITE AL-FAJAR AL-ALAMIA CO Mining Sub Sector CONSTRUCTION MATERIALS IND NATL ALUMINIUM PRODUCTS AL-ANWAR CERAMIC TILES CO AL JAZEERA STEEL PRODUCTS CO OMAN CERAMIC COM AL MAHA CERAMICS CO SAOC Construction Materials Support Sub Sector OMAN PACKAGING PACKAGING CO LTD COMPUTER STATIONERY INDS MAJAN GLASS COMPANY Paper, Glass & Packaging GULF INTERNATIONAL CHEMICALS OMAN CHLORINE NATIONAL DETERGENT CO SAOG Chemicals NATIONAL PHARMACEUTICAL Pharmaceuticals OMAN FIBER OPTICS VOLTAMP ENERGY SAOG OMAN CABLES INDUSTRY Electical & Mechanical Total Industrial Sector FY'15 FY'16 Y-oY 648 704 313 9,600 (736) 2,640 5,241 (257) 707 (721) 810 264 5,796 314 25,322 11,703 20,954 32,657 (8,224) (28,882) (37,106) 3,989 (119) 3,870 120 58 1,589 1,766 (64) 779 6,537 1,821 32 2,401 11,505 960 515 367 (1,623) 220 652 2,605 687 3,944 1,054 1,054 1,608 3,305 18,507 23,420 647 502 133 10,308 (542) 1,548 3,691 (164) (634) (805) 447 274 4,493 317 20,215 12,227 21,191 33,418 (9,835) (5,763) (15,598) (799) 64 (735) 407 425 772 1,604 71 (174) 1,700 4,601 88 2,091 8,378 1,317 834 126 (965) 1,311 584 1,963 1,108 3,655 1,315 1,315 2,498 3,631 15,254 21,383 -0.2% -28.7% -57.7% 7.4% -26.4% -41.4% -29.6% -36.3% 66,651 74,946 11.6% -44.8% 3.8% -22.5% 0.9% -20% 4.5% 1.1% 2% 19.6% -80.0% -58.0% -119.0% 239.0% 639.3% -51.4% -9.2% -74.0% 152.7% 174.7% -12.9% -27.2% 37.2% 62.0% -65.8% -40.5% 497.3% -10.4% -24.6% 61.3% -7.3% 24.8% 24.8% 55.3% 9.9% -17.6% -8.7% 12.4% 5 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
6. U-Capital Research SERVICES SECTOR OMAN TELECOMMUNICATIONS CO OOREDOO Telecommunication Sub Sector GULF HOTELS (OMAN) CO LTD UBAR HOTELS & RESORTS AL BATINAH HOTELS OMAN HOTELS & TOURISM CO HOTELS MANAGEMENT CO INTERNA DHOFAR TOURISM SALALAH BEACH RESORT SAOG Tourism & Hospitality Sub Sector PORT SERVICE CORPORATION SALALAH PORT SERVICES Logistics Sub Sector SHELL OMAN MARKETING OMAN OIL MARKETING COMPANY AL MAHA PETROLEUM PRODUCTS M NATIONAL GAS CO MUSCAT GASES COMPANY SAOG Oil & Gas Marketing Sub Sector DHOFAR UNIVERSITY MAJAN COLLEGE OMAN EDUCATION & TRAINING IN Education & Training Sub Sector AL KAMIL POWER CO SOHAR POWER CO UNITED POWER/ENERGY CO- PREF ACWA POWER BARKA SAOG PHOENIX POWER CO SAOC OMAN NATIONAL ENGINEERING AN SMN POWER HOLDING SAOG SEMBCORP SALALAH POWER & WAT SHARQIYAH DESALINATION CO SA AL SUWADI POWER AL BATINAH POWER Energy Sub Sector RENAISSANCE SERVICES SAOG AL JAZEERA SERVICES Diversified Commercial Services Sub Sector FY'15 FY'16 Y-oY 48,493 41,633 90,126 2,214 895 26 2,653 2,166 (1,166) 791 7,578 (1,860) 5,182 3,322 14,175 12,214 9,200 1,530 1,312 38,430 1,715 1,808 1,202 4,724 3,336 3,756 1,071 10,513 28,772 1,907 9,020 13,644 1,517 7,246 7,084 87,865 (34,833) 3,829 (31,005) 117,779 46,309 164,088 1,735 223 19 5,864 1,867 (929) 498 9,277 2,716 5,726 8,442 16,000 9,602 8,754 2,818 764 37,938 1,926 1,980 1,114 5,020 3,728 4,544 941 11,668 18,458 1,208 11,752 14,629 614 9,068 8,295 84,905 (43,861) 1,574 (42,287) 142.9% 11.2% 82.1% -21.6% -75.1% -24.2% 121.1% -13.8% -20.3% -37.0% 22.4% 10.5% 154.2% 12.9% -21.4% -4.8% 84.2% -41.8% -1.3% 12.3% 9.5% -7.3% 6.3% 11.8% 21.0% -12.1% 11.0% -35.8% -36.7% 30.3% 7.2% -59.5% 25.1% 17.1% -3.4% 25.9% -58.9% 36.4% Total Service Sector 201,040 267,383 33.0% Total Market 665,236 747,456 12.4% Source: Bloomberg, U-Capital Note: Profi ts a re a ttri buta bl e to the pa rent compa ny, unl es s i t i s not provi ded Note: Profi ts for compa ni es whos e fi na nci a l yea r end December Note: Fi gures do not i ncl ude compa ni es whi ch cha nged thei r fi na nci a l yea r Note: Profits are initials and subject to change 6 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
7. U-Capital Research 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. 7 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