GCC Morning Brief - 7 March

Transcription

1. U Capital Research U Capital Morning Brief GCC Market Indices 7 March 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 1,038.41 1,169.96 1,025.61 65.54 5,799.92 6,976.35 6,750.76 10,622.54 1,338.10 1,040.76 1,151.33 1,009.76 65.45 5,807.81 6,967.97 6,804.56 10,721.15 1,342.57 -2.35 18.63 15.85 0.09 (7.89) 8.38 (53.80) (98.61) (4.47) -0.23% 1.62% 1.57% 0.14% -0.14% 0.12% -0.79% -0.92% 0.42% 0.45% 0.15% 0.20% 0.34% 0.06% -0.48% -0.74% -1.38% -0.70% 0.68% 0.49% 0.30% -3.25% 17.44% 1.78% -0.33% -0.86% 9.64% Dubai Financial Market 3,556.82 3,543.33 13.49 0.38% -2.03% 0.73% Abu Dhabi Sec. Exchange 4,604.27 4,565.15 39.12 0.86% 1.15% 1.27% Commodity Prices* Price Change USD USD % Brent Crude (per bbl) Updated 55.95 (0.06) (0.11) WTI Crude (per bbl) Updated 53.18 (0.02) (0.04) Oman Crude Oil 54.84 0.09 0.16 1,224.91 (0.54) (0.04) Silver (per oz) 17.71 (0.07) (0.40) 976.70 (1.83) (0.19) 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 % D/D United Kingdom Germany France 7,350.1 11,958.4 4,972.2 (24.14) (68.96) (22.94) (0.33) (0.57) (0.46) USA USA USA 20,954.3 2,375.3 5,849.2 (51.37) (7.81) (21.58) (0.24) (0.33) (0.37) NIKKEI 225 Japan 19,339.9 (38.97) (0.20) Platinum (per oz) HANG SENG Hongkong 23,695.0 98.71 0.42 Copper, MT 5,858.00 (59.00) (1.00) Selected Middle East Aluminium, MT 1,876.50 (15.50) (0.82) Tunis Se Index Tunis 5,580.8 (10.49) (0.19) Lead, MT 2,243.00 (6.00) (0.27) EGX 30 Index Egypt 12,623.2 123.61 0.99 Zinc, MT 2,740.00 (35.00) (1.26) 0.06 Nickel, MT 11,095.00 105.00 0.96 (Last Clo sing) United States DJIA S&P 500 NASDAQ Gold100 OZ (per oz) Asia Pacific Blom Stock Index Lebanon 1,226.0 0.77 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 1.058 0.945 Bri ti s h Pound GBP 1.224 0.817 Ja pa nes e Yen Units/1 USD JPY 0.009 113.950 Chi nes e Renmi nbi CNH 0.145 6.897 Indi a n Rupee INR 0.015 66.635 Rus s i a n Rubl e RUB 0.017 58.220 Ca na di a n Dol l a r CAD 0.747 1.339 Aus tra l i a n Dol l a r AUD 0.762 1.312 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 Omani, Spanish companies plan high-end hospital in Muscat Oman and Emirates Investment Holding Co SAOG (O&E), a Muscat-based publicly listed company, plans to invest in a new high-end super-specialty hospital in the Sultanate in partnership with prominent Spanish players. Total investment in the project is estimated at RO 24 million Source: Oman Observer Al Jazeera steel posts robust growth despite headwinds Despite sluggish demand in the GCC region and anti-dumping action by the US on Oman’s steel pipe exports, Al Jazeera Steel Products Co recorded a robust growth in sales and net profit last year as the company diversified into other export markets. Source: Muscat Daily Oman Data Park clocks 26% growth in revenues Oman Data Park’s revenues touched $12 million in 2016, a growth of 26 per cent over 2015 and it expects a similar rate of growth in 2017, a top official of the company told Oman Tribune on Sunday. Source: Oman Tribune Al Maha in expansion mode, eyes bunkering Oman’s emergence as a key logistics and trans-shipment hub has influenced Al Maha Petroleum Products Marketing Company to enter bunker business and it is currently in the process of finding a strategic partner, its Chief Executive Mohammed Al Darwish said, on Monday. Source: Oman Tribune 100% service charge imposed on tobacco products at airport arrivals Oman has amended its customs provisions to levy 100 per cent service charge on tobacco and alcohol products on sale at duty-free outlets at arrivals. ROP decision 38/2017, issued last month by Lt Gen Hassan bin Mohsen al Shuraiqi, IG of Police and Customs, outlined changes in the customs provisions, including levying of 100 per cent service charge on such products. Source: Muscat Daily MIDDLE EAST ECONOMIC & CORPORATE NEWS Saudi mutual fund assets drop 15% in 2016 The value of assets in Saudi Arabia’s mutual funds fell 15 percent year-on-year (YoY) to SAR 87.84 billion by the end of 2016, data issued by the Saudi Arabian Monetary Authority (SAMA) showed. Source: Argaam Abu Dhabi aims to close $872 million solar plant financing in April Abu Dhabi's government-owned power utility aims to close a financing package for a 3.2 billion dirham ($872 million) solar power plant, which will be the world's largest, in April, a senior official at the utility said on Sunday. Source: Reuters Saudi tourism authority to lend SAR 397 mln in 2017 Saudi Arabia's Commission for Tourism and National Heritage (SCTH) has allocated SAR 397 million to support a new lending program for hospitality and tourism projects in 2017, according to a statement on the state news agency SPA. Source: Argaam Funds expect Saudi Aramco to be valued around $1-1.5trn Fund managers and institutional investors expect oil giant Saudi Aramco to have a market capitalization of $1 trillion to $1.5 trillion when it sells shares to the public next year, a survey showed. Source: Arabian Business Abu Dhabi's new airport terminal opening delayed to 2019 The opening of Abu Dhabi Airports' $2.94 billion Midfield Terminal has been pushed back by two years, regional newspapers reported on Monday, in the latest setback for a project seen as crucial to the emirate's wider expansion into tourism. Source: Zawya Qatar Reinsurance launches $450 million perpetual bond Qatar Reinsurance Co., a subsidiary of Qatar Insurance Co. , has launched a $450 million perpetual bond with a yield of 4.95 percent, a document issued by one of the lead banks showed. 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 Snap slumps 12 percent, closes at lowest since IPO Shares of Snap Inc. slumped 12 percent on Monday and closed at their lowest level of the three sessions since the Snapchat owner's soaring market debut last week. Source: Reuters Deutsche Bank tests investor patience with $8.5 billion cash call Deutsche Bank's (DBKGn.DE) chief executive pledged on Monday to see through a strategic turnaround as he sought to persuade weary shareholders to sign an 8 billion euro ($8.5 billion) cheque to back his plans. Source: Reuters Complete Remonetisation within Two-Three Months, Says RBI Asserting that remonetisation of the currency pulled out of the financial system during the government’s cash ban is moving at a fast pace, Reserve Bank of India (RBI) Deputy Governor on Monday said that the process will be completed in the next two to three months. Source: Bloomberg Quint Asian stocks climb, oil mixed as concerns linger over U.S. supply glut Asian shares rose on Tuesday, diverging from New York markets that slipped on concern about President Donald Trump's ability to focus on economic policies. Oil prices were mixed amid fears growing U.S. production will offset OPEC cuts. Source: Reuters COMMODITIES NEWS Exxon to invest $20 billion on U.S. Gulf Coast refining projects Exxon Mobil Corp, the world's largest publicly traded oil producer, said on Monday it would invest $20 billion through 2022 to expand its chemical and oil refining plants on the U.S. Gulf Coast. Source: Reuters <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 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 UNITED POWER* NATIONAL BISCUIT INDUSTRIES RAYSUT CEMENT 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 CERAMICS ALMAHA PETROLEUM PRODUCTS MAR OOREDOO AL ANWAR CERAMIC TILES AL OMANIYA FINANCIAL SER AL JAZEERA SERVICES* OMAN CEMENT COMPANY AL JAZEERA STEEL PRODUCTS** PHOENIX POWER SALALAH BEACH RESORT SAOG OMAN ORIX LEASING OMAN OIL MARKETING AL BATINAH POWER AL SUWADI POWER OMAN CABLES INDUSTRY NATIONAL BANK OF OMAN BANK DHOFAR SHELL OMAN MARKETING SALALAH PORT SERVICES NATIONAL GAS PORT SERVICES CORPORATION MUSCAT NATIONAL HOLDING TAAGEER FINANCE MUSCAT FINANCE OMAN UNITED INSURANCE SMN POWER HOLDING VOLTAMP ENERGY A'SAFFA FOODS SAOG OMINVEST DHOFAR BEVERAGES FOOD STUFF OMANTEL HSBC OMAN SEMBCORP SALALAH** AHLI BANK NATIONAL FINANCE BANK SOHAR UNITED FINANCE SALALAH MILLS AL MADINA TAKAFUL Cash Div DPS OMR Proposed Cash OMR Div payout Dividend Yield AGM Date 10.0% 100.0% 30.0% 20.0% 20.0% 8.0% 5.0% 10.0% 10.0% 10.0% 10.0% 25.0% 50.0% 15.0% 65.0% 75.0% 50.0% 10.0% 30.0% 25.0% 40.0% 4.0% 5.0% 30.2% 100.0% 42.0% 8.0% 17.0% 15.0% 30.0% 23.0% 7.9% 8.0% 9.0% 60.0% 9.0% 10.0% 85.0% 15.9% 13.5% 106.0% 20.0% 11.0% 55.0% 10.0% 13.0% 17.0% 30.0% 16.0% 18.0% 20.0% 15.0% 5.0% 110.0% 5.0% 13.9% 10.0% 14.0% 5.0% 10.0% 40.0% 6.0% 0.010 0.100 0.300 0.020 0.200 0.008 0.005 0.100 0.010 0.010 0.010 0.250 0.500 0.150 0.065 0.750 0.050 0.010 0.030 0.025 0.040 0.004 0.005 0.030 0.100 0.042 0.008 0.017 0.015 0.030 0.023 0.008 0.080 0.009 0.060 0.009 0.010 0.085 0.016 0.014 0.106 0.020 0.011 0.055 0.100 0.013 0.017 0.030 0.016 0.018 0.020 0.015 0.005 0.110 0.005 0.014 0.010 0.014 0.005 0.010 0.040 0.006 500,000 5,000,000 2,164,535 648,717 1,380,000 240,000 73,930 300,000 100,000 363,000 1,000,000 857,081 400,000 150,000 13,000,000 2,250,000 850,625 962,500 900,000 62,406,256 280,000 200,070 450,000 1,587,600 6,900,000 27,339,658 2,369,709 4,553,680 918,064 9,926,181 2,872,653 11,554,552 500,000 2,259,355 3,676,500 6,073,987 7,144,063 7,624,500 23,478,518 20,853,835 10,070,000 3,596,748 605,000 5,227,200 500,000 3,296,670 4,534,165 3,000,000 3,194,170 1,089,000 2,400,000 9,536,863 100,000 82,500,000 10,001,564 13,268,550 14,250,361 3,795,755 8,022,497 3,107,649 1,926,523 1,050,000 38.0% 48.4% 85.3% 49.3% 89.1% 62.7% 111.3% 61.3% 79.6% 96.9% 80.1% 49.4% 42.5% 23.2% 62.7% 119.9% 76.8% 25.8% 111.9% 35.3% 55.8% 42.3% 40.6% 75.9% 85.3% 59.0% 139.4% 68.4% 58.3% 77.1% 62.4% 62.6% 100.4% 40.8% 38.3% 73.2% 78.8% 50.0% 42.1% 43.8% 62.9% 62.8% 21.6% 192.4% 37.3% 73.7% 92.5% 74.0% 27.2% 30.0% 52.5% 39.9% 75.4% 70.7% 59.3% 90.7% 48.1% 59.8% 42.0% 69.0% 52.2% 63.2% 9.1% 4.6% 6.6% 6.7% 4.9% 8.9% 5.3% 2.7% 3.8% 8.3% 6.2% 2.4% 50.0% 4.0% 4.6% 60.0% 7.1% 3.2% 5.2% 5.4% 3.0% 3.1% 3.9% 6.3% 6.4% 7.1% 4.8% 5.9% 7.5% 6.0% 9.2% 5.5% 5.8% 6.7% 3.2% 4.6% 5.1% 5.2% 6.4% 5.3% 5.3% 3.2% 2.1% 18.2% 5.6% 9.6% 12.2% 7.4% 2.3% 3.4% 2.5% 2.8% 1.9% 8.0% 3.8% 5.7% 5.0% 9.0% 3.2% 6.5% 2.7% 6.1% 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 13-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 20-Mar-17 21-Mar-17 21-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 26-Mar-17 26-Mar-17 27-Mar-17 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 29-Mar-17 29-Mar-17 29-Mar-17 30-Mar-17 30-Mar-17 30-Mar-17 2-Apr-17 NA NA NA NA NA NA 419,182,286 53.5% 7.2% 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 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 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 24754301/672 l Fax: +968 24125125 l Email: info@u-capital.net l Web: www.u-capital.net