GCC Morning Brief - 4 April

Transcription

1. U Capital Research U Capital Morning Brief GCC Market Indices 4 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 1,022.73 1,154.04 1,011.30 64.50 5,596.67 6,967.98 6,999.23 10,344.08 1,347.82 1,000.08 1,153.11 1,011.55 64.47 5,537.74 6,990.43 7,021.37 10,397.85 1,346.08 22.65 0.93 -0.25 0.03 58.93 (22.45) (22.14) (53.77) 1.74 2.26% 0.08% -0.02% 0.05% 1.06% -0.32% -0.32% -0.52% 1.16% 0.42% 1.01% -0.05% 0.83% -0.48% -0.43% -0.45% -2.87% -2.06% -0.72% -1.10% -3.22% -3.36% 21.77% -0.89% 0.13% -0.60% 10.44% Dubai Financial Market 3,539.33 3,491.46 47.87 1.37% 1.69% 0.24% Abu Dhabi Sec. Exchange 4,466.64 4,449.66 16.98 0.38% 0.52% -1.75% 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 7,282.7 12,257.2 5,085.9 (40.23) (55.67) (36.60) (0.55) (0.45) (0.71) USA USA USA 20,650.2 2,358.8 5,894.7 (13.01) (3.88) (17.05) (0.06) (0.16) (0.29) NIKKEI 225 Japan 18,796.9 (186.97) (0.98) HANG SENG Hongkong 24,261.5 149.89 0.62 United States DJIA S&P 500 NASDAQ Commodity Prices* Price Change USD USD % Brent Crude (per bbl) Updated 53.11 0.00 0.00 WTI Crude (per bbl) Updated 50.23 (0.01) (0.02) Oma n Crude Oil 51.85 (0.45) (0.86) % (Last Clo sing) Gold100 OZ (per oz) D/D 1,256.18 2.86 0.23 Silver (per oz) 18.30 0.05 0.25 Pla tinum (per oz) 958.65 1.15 0.12 Copper, MT 5,753.00 (84.50) (1.45) Aluminium, MT 1,952.00 (10.50) (0.54) Lea d, MT 2,286.00 (54.00) (2.31) Zinc, MT 2,708.00 (63.00) (2.27) Nickel, MT 9,850.00 (175.00) (1.75) Asia Pacific Selected Middle East Tunis Se Index Tunis 5,548.8 5.71 0.10 EGX 30 Index Egypt 13,061.1 148.80 1.15 Blom Stock Index Lebanon 1,231.2 0.02 0.00 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 1.067 0.937 Bri ti s h Pound GBP 1.247 0.802 110.440 Ja pa nes e Yen Units/1 USD JPY 0.009 Chi nes e Renmi nbi CNH 0.146 6.873 Indi a n Rupee INR 0.015 65.026 Rus s i a n Rubl e RUB 0.018 56.089 Ca na di a n Dol l a r CAD 0.747 1.338 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 Ras Markaz crude storage project to be awarded soon A tender for developing the first phase of a large crude storage facility at Ras Markaz near Duqm will be awarded soon. The first phase will have a storage capacity of 10 million barrels of crude oil. Source: Times of Oman Oman's cabinet to study a proposal to compensate poor families to ease high fuel price burden Oman’s cabinet will study a proposal to partially compensate poor families who are unable to afford rising petrol prices after the government eliminated subsidy on petroleum products early this year. This follows suggestions for supporting such families. Source: Times of Oman Oman to limit crude output at 970,000bpd, if cap continues Oman plans to limit its crude oil production to 970,000 barrels per day (bpd) this year instead of an original plan of 1,001,000 barrels a day, if the ongoing capping on output continues for the rest of the year in line with a deal between Opec and non-Opec countries, according to a senior official at the Ministry of Oil and Gas. Source: Times of Oman BP’s first gas production at Khazzan to start by year-end British Petroleum said that the first gas from its Khazzan field, which will initially produce 500 million cubic feet of natural gas per day, is expected towards the end of 2017. Source: Times of Oman Oman Oil Exploration strikes oil and gas discoveries in Block 60 Oman Oil Company Exploration and Production (OOCEP) on Monday announced three significant oil and natural gas discoveries in Block 60. The company has discovered first oil in Bisat field, additional light oil found in ABB south and natural gas was discovered in ABB North reflecting a very successful programme of exploration in 2016. Source: Times of Oman MIDDLE EAST ECONOMIC & CORPORATE NEWS Emirates NBD to open three branches in Saudi Arabia Dubai-listed lender Emirates NBD has obtained approval from the Saudi Arabian Monetary Authority (SAMA) to open three new branches in the kingdom, the bank said in a statement on Monday. Source: Argaam Dubai's new rental law to move away from one-size-fits all regulation Dubai’s Land Department is working on a new rental law that will give separate weightage to commercial real estate such as offices, malls, health and educational property, apart from residential. The law, which is in front of the legislative committee, will replace the current one-size-fits-all rental regulation, top officials said. Source: Zawya Islamic Development Bank picks eight banks for dollar sukuk: lead The Islamic Development Bank has mandated banks for a U.S. dollar-denominated sukuk, a document issued by one of the lead banks showed on Monday. The triple A-rated Jeddah-based bank has chosen Boubyan Bank, Emirates NBD Capital, GIB Capital, Goldman Sachs International, HSBC, Maybank, Natixis, and Standard Chartered Bank as joint lead managers and bookrunners. Source: Salaam Gateway Egypt seeks more investment from UAE, GCC, says official Egypt seeks to attract more investments from the United Arab Emirates and other members of the Gulf Co-operation Council, GCC, to a range of joint projects in sectors such as manufacturing, tourism, real estate and agriculture, after the Egyptian government removed obstacles and streamlined legal and administrative procedures for doing business, said Mohamed Khodeir, Chairman of Egypt's General Authority for Investment and Free Zones. Source: Zawya Emirates NBD UAE PMI climbs to 19-month high in March The overall expansion was driven by sharper increases in output and new orders, as well as a record rise in stocks of purchases. Firms raised their payroll numbers slightly, while there was evidence of ongoing pressure on operating capacity. Prices data suggested that the UAE’s non-oil private sector faced intense market competition, as the vast majority of firms registered no change in output charges despite increased cost pressures. Source: CPI Financial 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. factory activity cools slightly; trend remains bullish A measure of U.S. manufacturing activity retreated from a 2-1/2-year high in March amid a decline in production and an inventory drawdown, but a surge in factory jobs indicated that the sector's energy-led recovery was gaining momentum. Source: Reuters Asia stocks skittish as investors seek safe havens before Trump-Xi meeting Asian shares inched lower on Tuesday as caution reigned ahead of a potentially tense meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping later this week. Sources: Reuters COMMODITIES NEWS Qatar to Drill in World's Biggest Gas Field After 12-Year Freeze Qatar Petroleum plans to start a new development in the offshore North Field, ending a 12-year ban on new projects that allowed the company to assess how its current rate of extraction affects the giant reservoir it shares with Iran. Source: Bloomberg <Please scroll down for information on Proposed Cash Dividends of Companies for 2016> 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 Proposed Cash Dividend for 2016 Company Name 2016 NAT . PHARMACEUTICAL IND. OMAN REFRESHMENT OMAN FIBER OPTIC OMAN PACKAGING AREEJ VEGET. OILS AND DERIV AL BATINAH DEV. INV. HOLDING MUSCAT THREAD MILLS OMAN CHROMITE COMPUTER STATIONERY IND GULF STONES OMAN NATIONAL ENGINE. INVT GULF HOTELS NATIONAL BISCUIT INDUSTRIES RAYSUT CEMENT SEMBCORP SALALAH** HOTELS MANAGEMENT CO. INT NATIONAL DETERGENT AL KAMIL POWER MUSCAT GASES BANK MUSCAT SWEETS OF OMAN UBAR HOTELS and RESORTS AL SHARQIA INVESTMENT HOLDING ALMAHA PETROLEUM PRODUCTS MAR OOREDOO AL OMANIYA FINANCIAL SER AL JAZEERA SERVICES* OMAN CEMENT COMPANY PHOENIX POWER SALALAH BEACH RESORT SAOG OMAN ORIX LEASING AL JAZEERA STEEL PRODUCTS** OMAN OIL MARKETING AL BATINAH POWER AL SUWADI POWER ALMAHA CERAMICS OMAN CABLES INDUSTRY NATIONAL BANK OF OMAN GULF INTERNATIONAL CHEMICALS BANK DHOFAR SHELL OMAN MARKETING SALALAH PORT SERVICES NATIONAL GAS PORT SERVICES CORPORATION MUSCAT NATIONAL HOLDING TAAGEER FINANCE AHLI BANK AL MADINA TAKAFUL MUSCAT FINANCE OMAN UNITED INSURANCE OMAN CHLORINE SALALAH MILLS OMAN INVESTMENT AND FINANCE SMN POWER HOLDING VOLTAMP ENERGY A'SAFFA FOODS SAOG OMINVEST UNITED FINANCE NATIONAL FINANCE DHOFAR BEVERAGES FOOD STUFF GLOBAL FINANCIAL INVESTMENT OMANTEL HSBC OMAN BANK SOHAR AL ANWAR CERAMIC TILES Cash Div DPS OMR Proposed Cash OMR Div payout Dividend 10.0% 100.0% 30.0% 20.0% 20.0% 8.0% 2.5% 10.0% 10.0% 10.0% 10.0% 25.0% 15.0% 65.0% 13.8% 75.0% 50.0% 10.0% 30.0% 25.0% 40.0% 4.0% 5.0% 100.0% 42.0% 17.0% 15.0% 30.0% 7.9% 8.0% 9.0% 23.0% 60.0% 9.0% 10.0% 30.2% 85.0% 15.9% 28.5% 13.5% 106.0% 20.0% 11.0% 55.0% 10.0% 9.5% 10.0% 6.0% 10.0% 30.0% 15.0% 40.0% 16.0% 16.0% 18.0% 20.0% 15.0% 8.0% 14.0% 5.0% 5.0% 110.0% 5.0% 5.0% 8.0% 0.010 0.100 0.300 0.020 0.200 0.008 0.003 0.100 0.010 0.010 0.010 0.250 0.150 0.065 0.014 0.750 0.050 0.010 0.030 0.025 0.040 0.004 0.005 0.100 0.042 0.017 0.015 0.030 0.008 0.080 0.009 0.023 0.060 0.009 0.010 0.030 0.085 0.016 0.029 0.014 0.106 0.020 0.011 0.055 0.100 0.010 0.010 0.006 0.010 0.030 0.015 0.040 0.016 0.016 0.018 0.020 0.015 0.008 0.014 0.005 0.005 0.110 0.005 0.005 0.008 500,000 5,000,000 2,164,535 648,717 1,380,000 240,000 36,965 300,000 100,000 363,000 1,000,000 857,081 150,000 13,000,000 13,173,093 2,250,000 850,625 962,500 900,000 62,406,256 280,000 200,070 450,000 6,900,000 27,339,658 4,553,680 918,064 9,926,181 11,554,552 500,000 2,259,355 2,872,653 3,676,500 6,073,987 7,144,063 1,587,600 7,624,500 23,478,518 598,500 20,853,835 10,070,000 3,596,748 605,000 5,227,200 500,000 2,409,105 14,250,361 1,050,000 2,667,156 3,000,000 1,021,555 1,926,523 3,200,000 3,194,170 1,089,000 2,400,000 9,536,863 2,486,120 3,795,755 100,000 1,000,000 82,500,000 10,001,564 8,022,497 2,369,709 38.0% 48.4% 85.3% 49.3% 89.1% 62.7% 55.7% 61.3% 79.6% 96.9% 80.1% 49.4% 23.2% 62.7% 90.0% 119.9% 76.8% 25.8% 111.9% 35.3% 55.8% 42.3% 40.6% 85.3% 59.0% 68.4% 58.3% 77.1% 62.6% 100.4% 40.8% 62.4% 38.3% 73.2% 78.8% 75.9% 50.0% 42.1% 102.4% 43.8% 62.9% 62.8% 21.6% 192.4% 37.3% 53.8% 48.1% 63.2% 54.4% 74.0% 49.9% 52.2% 55.3% 27.2% 30.0% 52.5% 39.9% 55.2% 59.8% 75.4% 117.0% 70.7% 59.3% 42.0% 139.4% 9.1% 4.6% 6.6% 6.7% 4.9% 8.6% 3.0% 2.7% 3.8% 8.3% 6.8% 2.4% 4.0% 4.8% 5.6% 60.0% 7.1% 3.2% 5.4% 6.4% 3.0% 3.1% 4.0% 6.9% 7.7% 6.1% 8.6% 6.0% 5.6% 5.8% 6.9% 10.0% 3.5% 4.9% 5.4% 7.2% 5.0% 6.9% 11.2% 6.1% 5.6% 3.2% 2.5% 23.8% 11.7% 7.6% 5.3% 6.3% 8.2% 7.9% 3.1% 2.9% 7.4% 2.3% 3.8% 3.1% 3.0% 5.7% 9.3% 1.9% 3.0% 7.9% 3.9% 3.5% 5.1% 421,093,814 53.2% 6.7% AGM Date 22-Feb-17 1-Mar-17 1-Mar-17 1-Mar-17 1-Mar-17 5-Mar-17 8-Mar-17 8-Mar-17 8-Mar-17 8-Mar-17 12-Mar-17 13-Mar-17 14-Mar-17 14-Mar-17 14-Mar-17 15-Mar-17 15-Mar-17 15-Mar-17 16-Mar-17 19-Mar-17 19-Mar-17 19-Mar-17 19-Mar-17 20-Mar-17 20-Mar-17 21-Mar-17 21-Mar-17 21-Mar-17 21-Mar-17 22-Mar-17 22-Mar-17 23-Mar-17 23-Mar-17 23-Mar-17 23-Mar-17 26-Mar-17 26-Mar-17 26-Mar-17 26-Mar-17 27-Mar-17 27-Mar-17 NA 27-Mar-17 27-Mar-17 27-Mar-17 27-Mar-17 27-Mar-17 27-Mar-17 28-Mar-17 28-Mar-17 28-Mar-17 28-Mar-17 28-Mar-17 28-Mar-17 29-Mar-17 29-Mar-17 29-Mar-17 29-Mar-17 29-Mar-17 30-Mar-17 30-Mar-17 30-Mar-17 30-Mar-17 30-Mar-17 13-Apr-17 Source: MSM Note: Proposed dividends of companies with year end of *Ordinary shareholders only **Total dividends 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 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. 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