GCC Morning Brief - 5 February

Transcription

1. U-Capital Research U-Capital Morning Brief GCC Market Indices 5 February 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 1,037.50 1,175.98 1,029.00 65.24 5,802.62 7,098.64 6,843.53 10,570.41 1,307.75 1,035.97 1,175.48 1,027.57 65.60 5,793.33 7,100.93 6,847.96 10,596.14 1,296.66 1.53 0.50 1.43 -0.36 9.29 (2.29) (4.43) (25.73) 11.09 0.15% 0.04% 0.14% -0.55% 0.16% -0.03% -0.06% -0.24% -1.47% -0.19% 1.02% 0.03% 0.34% -1.55% 19.06% 1.28% -1.47% -0.19% 1.02% 0.03% 0.34% -1.55% 19.06% 1.28% 0.86% 7.15% 7.15% Dubai Financial Market 3,623.75 3,653.65 (29.90) -0.82% 2.63% 2.63% (80.05) -1.77% -2.20% -2.20% U-Capital Oman 20 Index U-Capital GCC 50 Index U-Capital MENA 200 Index Bloomberg GCC200 Index Abu Dhabi Sec. Exchange 4,446.21 4,526.26 YTD Source: Bloomberg World Markets* Country Value Change Europe FTSE 100 DAX CAC 40 D/D Commodity Prices* Price Change D/D USD USD % Brent Crude (per bbl) Updated 56.81 0.25 0.44 WTI Crude (per bbl) Updated 53.83 0.29 0.54 Oman Crude Oil 55.70 0.41 0.74 1,220.20 4.45 0.37 17.51 0.03 0.14 % United Kingdom Germany France 7,188.3 11,651.5 4,825.4 47.55 23.54 31.13 0.67 0.20 0.65 USA USA USA 20,071.5 2,297.4 5,666.8 186.55 16.57 30.57 0.94 0.73 0.54 Japan 18,918.2 3.62 0.02 Platinum (per oz) 1,003.50 2.91 0.29 (0.24) Copper, MT 5,772.00 (114.00) (1.94) Aluminium, MT 1,834.50 5.50 0.30 0.18 Lead, MT 2,325.00 (15.00) (0.64) 2,796.00 (55.00) (1.93) 10,225.00 (170.00) (1.64) (Last Closing) United States DJIA S&P 500 NASDAQ Gold100 OZ (per oz) Silver (per oz) Asia Pacific NIKKEI 225 HANG SENG Hongkong 23,129.2 (55.31) Selected Middle East Tunis Se Index Tunis EGX 30 Index Egypt Blom Stock Index Lebanon 5,500.8 9.69 12,806.1 221.81 1.76 Zinc, MT 1,217.2 0.15 0.01 Nickel, MT Source: B loomberg, 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 1.078 0.927 Bri ti s h Pound GBP 1.248 0.801 Ja pa nes e Yen JPY 0.009 112.610 Chi nes e Renmi nbi CNH 0.147 6.803 Indi a n Rupee INR 0.015 67.316 Rus s i a n Rubl e RUB 0.017 59.003 Ca na di a n Dol l a r CAD 0.768 1.302 Aus tra l i a n Dol l a r AUD 0.768 1.302 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 U-Capital: The MSM30 YTD returned to positive; topped GCC weekly gainers Backed by financial and Industrial sectors, the general benchmark closed the previous week up by 0.9% at 5,802.62 resulting in positive YTD close of 0.34%. Source: Muscat Daily Oman's Shura call to fix fuel prices gets thumbs up A call to fix fuel prices annually instead of monthly has been welcomed by industry experts and the community. Fuel should be set at a fixed price for the year and those struggling to afford it should be considered, according to Shura Council members. Source: Times of Oman Sohar Refinery Improvement Project 99pc complete Orpic, the nation’s refining and petrochemicals flagship, has announced the successful completion of a trio of major components at the heart of its multi-billion dollar upgrade of its refinery at Sohar. With the completion of the Crude Distillation, Vacuum Distillation and Kero-Merox units, the Sohar Refinery Improvement Project (SRIP) is just months away from being brought on stream — a milestone that will see the plant’s refining output boosted by around 70 per cent. Source: Oman Observer Italian firm to supply equipment for Oman salt refinery project Leading Italian technology firm Manfredini & Schianchi Srl says it has been contracted by an Omani company to undertake the construction of the Sultanate’s first large-scale salt refinery at Bantoot near Duqm. Source: Oman Observer Oman's market regulator proposes five-year plan for selling stake in state-owned firms A five-year plan for disinvesting stake in state-owned companies through initial public offerings (IPOs) is being proposed by the Sultanate’s stock market regulator, Capital Market Authority, to the Ministry of Finance, according to a top-level official of the market regulator. Source: Times of Oman MIDDLE EAST ECONOMIC & CORPORATE NEWS Moody’s: Saudi banks’ liquidity squeeze eases, a Credit Positive This is credit positive for Saudi banks’ funding costs and confirms that liquidity conditions in Saudi Arabia have eased since the third quarter of 2016 after significant tightening last year because of falling oil prices. Source: CPI Financials Tadawul sets rules for individuals’ investment in parallel market Individuals can indirectly invest in the Nomu Parallel Market through investment funds or private portfolios managed by brokerage firms authorized by the Capital Market Authority (CMA), Makkah newspaper reported, citing Nayef Al-Athel, head of listing at Saudi Stock Exchange (Tadawul). Source: Argaam S&P affirms Emirate of Abu Dhabi at 'AA/A-1+' with a stable outlook Standard & Poor’s (S&P) Global Ratings on Friday affirmed its 'AA' long-term and 'A-1+' short-term foreign and local currency sovereign credit ratings on Abu Dhabi with a stable outlook, backed by the United Arab Emirates capital’s strong fiscal and external positions. Source: Reuters UAE needs 175,000 extra school places by 2020, says PwC The private school sector is expected to continue to drive the growth of the UAE's education market to 2020, according to a new study. Over 175,000 additional seats are predicted to be required in the K-12 segment in the next four years, and 90 percent of this will come from private school enrollees. Source: Arabian Business Record breaking US$4 Billion Eurobond issuance by Egypt The Arab Republic of Egypt has today closed a US$4 billion multi-tranche sovereign bond issuance consisting of $1.75 billion 6.125% notes due 2022, $1 billion 7.50% notes due 2027 and $1.25 billion 8.50% notes due 2047 issued under its US$10 billion Global Medium Term Note Programme. The transaction is the largest ever public bond issuance out of Egypt and Africa, as well as the first tripletranche bond from the African continent. 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 INTERNATIONAL ECONOMIC & CORPORATE NEWS Fed’s Williams sees some arguments to raise rates in March Federal Reserve Bank of San Francisco President John Williams said raising interest rates in March might make sense at a time when the balance of risks is shifting toward the upside, and reiterated that three hikes this year is a reasonable guess. Source: Gulf News Dollar's sudden weakness could help U.S. profit picture Stock investors could have at least one less worry in the next earnings period: the suddenly limp U.S. dollar. The greenback, whose strong rally after the Nov. 8 U.S. election hit profits at many U.S. multinationals in the fourth quarter, has had a sharp reversal since the start of the year. Source: Zawya Trump ignites political fight over U.S. banking law reforms U.S. President Donald Trump on Friday ordered reviews of major banking rules that were put in place after the 2008 financial crisis, drawing fire from Democrats who said his order lacked substance and squarely aligned him with Wall Street bankers. Source: Zawya Turkey’s economic growth to be below potential in 2016 and 2017, IMF says Turkey’s growth will be below potential in 2016 and this year, the International Monetary Fund said on Friday, citing political uncertainty, strained relations with Europe and insecurity at home and in the region. Source: Gulf News COMMODITIES NEWS Saudi Aramco mulls boosting oil, gas output at Berri field Saudi Arabian Oil Co. (Saudi Aramco) is is aiming to boost crude oil output by 250,000 barrels a day through building offshore drilling islands in the Gulf, the sources added. Source: Argaam Iraq’s south oil exports said to fall from record on Opec cuts Iraq’s southern crude oil exports dropped in January from a record high a month before as the country implements output cuts agreed by Opec and other major producers to curb the global glut. The nation’s exports decreased 187,000 barrels a day to 3.323 million barrels a day in January from the previous month. Source: Gulf News <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 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. OMAN PACKAGING SALALAH MILLS MUSCAT FINANCE AREEJ VEGET. OILS AND DERIV 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% 20.0% 40.0% 17.0% 20.0% 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 0.020 0.040 0.017 0.200 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 2,164,535 500,000 648,717 1,926,523 4,534,165 1,380,000 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% 49.3% 52.2% 92.5% 89.1% 188,997,401 43.7% 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