UAE: Daily Market Trading Report - 10 May

Transcription

1. 10 May 2021 Morning Report Market Stats UAE Trading Summary Indices Close ADX 6 ,218 2,686 10,228 1,530 10,644 34,778 4,233 13,752 7,130 15,400 6,386 29,358 28,517 1,349 208 4,234 4,027 DFM TASI BHSEASI EGX Dow Jones S&P 500 Nasdaq FTSE 100 DAX CAC40 Nikkei225 HIS MSCI EM MSCI Asia US Futures Eur Futures 1M 3M 1Y Change Change Change Change 1.1% 0.8% 0.0% 0.5% 0.5% 0.7% 0.7% 0.9% 0.8% 1.3% 0.4% 0.1% -0.1% 0.6% 0.5% 0.2% 0.4% 2.6% 4.0% 2.2% 5.2% 3.3% 4.0% 3.7% 0.5% 3.5% 1.5% 4.2% -1.3% -0.2% 0.7% 0.3% 2.8% 2.1% 9.8% 1.5% 15.0% 4.5% -7.0% 11.7% 8.9% -0.8% 9.9% 9.6% 12.8% 2.0% -2.3% -3.4% -2.5% 8.3% 9.3% 53.1% 39.7% 54.3% 19.6% 4.6% 45.7% 46.9% 53.1% 20.1% 43.1% 41.9% 49.2% 19.3% 50.4% 44.1% 44.6% 38.5% AEDm ADX Local Foreign Institutional Retail DFM Local Foreign Institutional Retail Total Local Foreign Buy 955 52% 48% 88% 12% 161 Sell 955 68% 32% 85% 15% 161 -17% 17% 2% -2% - 58% 42% 28% 72% 1,116 53% 47% 51% 49% 23% 77% 1,116 66% 34% 7% -7% 5% -5% -13% 13% # Last Trading Day's Top Short Sell Positions Company Manazel Etisalat SIB Short Volume (shrs.) Short Volume (%) Volume (m) Turnover (AEDm) (1,940,209) (95,013) (40,000) 34.9% 7.8% 5.0% 5.6 1.2 0.8 1.9 26.4 1.1 Upcoming Corporates Actions & Events Date Company Event 10-May 10-May 10-May 11-May 11-May 11-May Aldar BoD/Results Salama BoD/Results Gulf Navigation BoD/Results MSCI Index 2Q21 Index Announcement Date GFH BoD/Results ERC BoD/Results Net
2. # KEY STORIES Adnoc Distribution posted Q1 profit of AED 631mln versus AED 400mln a year ago. Q1 revenue AED 4,282mln compared to AED 4,939mln a year ago Emaar Malls posted Q1 net profit AED 318mln versus AED 378mln year ago. Q1 revenue AED 901mln versus AED 999mln year ago RAK Ceramics posted Q1 net profit after NCI AED 60.7mln vs AED 25.7mln year ago. Q1 total revenue AED 722.8mln vs AED 592.8mln year ago Air Arabia reports first quarter 2021 net profit of AED 34mln, down 52pct YoY. Posted Q1 turnover of AED 572mln, down 37pct YoY Tabreed posted Q1 net profit attributable from continuing operations AED 78.6mln versus AED 76.7mln year ago. Q1 revenue AED 357.6mln versus AED 294.4mln year ago Shuaa Capital post Q1 profits hit 10-year high for both net profit attributable to shareholders of AED 25mln and operating income of AED 45mln IHC’s subsidiary Multiply Marketing Consultancy has acquired a minority stake in the USbased Firefly, a street-level digital media platform Gulf Pharmaceutical Industries posted Q1 attributable net loss AED 23.9mln vs loss of AED 62.5mln year ago. Q1 revenues AED 166.8mln vs AED 104.4mln year ago Emirates Investment Bank posted Q1 net profit AED 7mln versus loss of AED 6.1mln year ago. Q1 operating income AED 20.2mln versus AED 19.8mln year ago United Foods posted Q1 profit AED 8.2mln vs AED 17.7mln year ago. Q1 gross sales AED 140.9mln vs AED 122.3mln year ago Umm Al Qaiwain General Investment posted Q1 net profit AED 4.4mln versus loss of AED 16.5mln year ago. Q1 total revenue AED 5.5mln Watania posted Q1 net profit AED 4mln vs AED 2.3mln year ago. Q1 gross contribution AED 93.3mln vs AED 118.7mln year ago ADNOC has invited investment banks to pitch for bookrunner roles for the initial public offering of its drilling unit, two sources told Reuters Dubai's PMI rose to 53.5 in April from 51.0 in March - highest reading since Nov 2019 UAE on May 09 announced 1,572 new Covid-19 cases and 1,560 recoveries. The tally takes total cases in UAE to 536,017 with 516,329 recoveries and 1,613 deaths Saudi Arabia will organize the pilgrimage to Mecca this year, but under special conditions to guard against the spread of COVID-19 Saudi’s Almarai Company announces that one of its subsidiaries has acquired an additional 15% stake in Modern Food Industries for SAR 150mln Saudi’s Bank Aljazira announces its intention of early redemption of its SAR 2bln tier 2 sukuk on 2nd of June 2021 in full, at face value Saudi’s Tawuniya posted quarterly net profit before zakat SAR 80.8mln, down 5%. Quarterly gross written premiums SAR 2.92bln Saudi’s Bindawood Holding posted quarterly net profit after zakat and tax SAR 62.1mln versus SAR 126.3mln year ago. Quarterly sales SAR 1.12bln
3. Qatar on Sunday decided on gradually lifting coronavirus-related measures in four phases starting the first phase on May 28 and the fourth on July 30 Kuwait ’s Zain Group posted quarterly net income KD 45mln, down 5% YoY. Consolidated revenue of KD 382mln for Q1, down 6% YoY Egypt’s El Sewedy Electric enters Asian market with two acquisitions in transformers sector in Indonesia and Pakistan National Bank of Kuwait Egypt posted Q1 net profit EGP 404.1mln versus EGP 402.8mln year ago # Key Global Trends/ Market Clues Stocks rose on Monday amid speculation that interest rates will remain low due to receding inflationary pressure. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.35%, while U.S. stock futures rose 0.24%. Australian stocks hit their highest in more than a year, boosted by gains in miners, and shares in China rose 0.46%. Crude prices climbed more than 1% on Monday after a major cyber-attack that forced the shutdown of critical fuel supply pipelines in the United States, highlighting the fragility of oil infrastructure. Brent crude was up by 76 cents, or 1.1%, at USD 69.04 a barrel by 0039 GMT, having risen by l.5% last week. U.S. West Texas Intermediate futures rose by 70 cents, or 1.1%, at USD 65.60 a barrel, after gaining more than 2% last week. # UAE Stories Adnoc Distribution posted Q1 profit of AED 631mln versus AED 400mln a year ago. Q1 revenue AED 4,282mln compared to AED 4,939mln a year ago. Emaar Malls posted Q1 net profit AED 318mln versus AED 378mln year ago. Q1 revenue AED 901mln versus AED 999mln year ago. RAK Ceramics posted Q1 net profit after NCI AED 60.7mln vs AED 25.7mln year ago. Q1 total revenue AED 722.8mln vs AED 592.8mln year ago. Operations across global markets continued to improve in Q1 2021. Air Arabia reports first quarter 2021 net profit of AED 34mln, down 52pct YoY. Posted Q1 turnover of AED 572mln, down 37pct YoY. More than 1.3mln passengers flew with Air Arabia between January and March 2021. Tabreed posted Q1 net profit attributable from continuing operations AED 78.6mln versus AED 76.7mln year ago. Q1 revenue AED 357.6mln versus AED 294.4mln year ago. Shuaa Capital post Q1 profits hit 10-year high for both net profit attributable to shareholders of AED 25mln and operating income of AED 45mln. Q1 revenues of AED 102mln, showed a 42% increase YoY. IHC’s subsidiary Multiply Marketing Consultancy (MMC) has acquired a minority stake in the US-based Firefly, a street-level digital media platform connecting audiences with dynamic media on taxis and rideshare vehicles. The transaction will enable Firefly to expand its operations in the Middle East for the first time through a joint-venture office based within MMC’s headquarters in Abu Dhabi, according to a press release on Sunday. The acquisition comes following MMC’s investment in New York-based Yieldmo, a digital advertising and attention analytics company. Gulf Pharmaceutical Industries posted Q1 attributable net loss AED 23.9mln vs loss of AED 62.5mln year ago. Q1 revenues AED 166.8mln vs AED 104.4mln year ago. As of Q1, accumulated losses to capital ratio 27%. Emirates Investment Bank posted Q1 net profit AED 7mln versus loss of AED 6.1mln year ago. Q1 operating income AED 20.2mln versus AED 19.8mln year ago.
4. United Foods posted Q1 profit AED 8 .2mln vs AED 17.7mln year ago. Q1 gross sales AED 140.9mln vs AED 122.3mln year ago. Umm Al Qaiwain General Investment posted Q1 net profit AED 4.4mln versus loss of AED 16.5mln year ago. Q1 total revenue AED 5.5mln. Watania posted Q1 net profit AED 4mln vs AED 2.3mln year ago. Q1 gross contribution AED 93.3mln vs AED 118.7mln year ago. Accumulated losses have come down to AED 40.2mlnas on 31st March with accumulated losses to capital ratio 27.0%. ADNOC has invited investment banks to pitch for bookrunner roles for the initial public offering of its drilling unit, two sources told Reuters on Sunday. The oil giant invited a handful of international and local banks to take part in the process of the public share sale of ADNOC Drilling, which is due later this month, they said. ADNOC is planning to take the unit public in the third quarter, they added. Dubai's seasonally adjusted IHS Markit Dubai Purchasing Managers' Index (PMI) rose to 53.5 in April from 51.0 in March, well above the 50 mark that separates expansion from contraction and the highest reading since November 2019. The United Arab Emirates on May 09 announced 1,572 new Covid-19 cases, bringing the total confirmed cases in the country to 536,017. At the same time, 1,560 more patients have recovered from the virus, taking the tally of recoveries in the UAE to 516,329. UAE's ministry of health and prevention said. It has reported 3 deaths from Covid-19 during the past 24 hours. The nationwide death toll stands at 1,613. # GCC/MENA Saudi Arabia will organize the pilgrimage to Mecca this year, but under special conditions to guard against the spread of COVID-19, state TV reported on Sunday. "The mechanism and conditions for holding the Hajj this year will be announced later," it said, citing the ministry of pilgrimage. Last year, Saudi Arabia allowed a limited number of domestic pilgrim to perform the Haj. Saudi’s Almarai Company announces that one of its subsidiaries has acquired an additional 15% stake in Modern Food Industries for SAR 150mln. After acquisition, the ownership of the shares of Western Bakeries Company became 75.0% of the capital of the Modern Food Industry. Saudi’s Bank Aljazira announces its intention of early redemption of its SAR 2bln tier 2 sukuk on 2nd of June 2021 in full, at face value. Saudi’s Tawuniya posted quarterly net profit before zakat SAR 80.8mln, down 5%. Quarterly gross written premiums SAR 2.92bln. Saudi’s Bindawood Holding posted quarterly net profit after zakat and tax SAR 62.1mln versus SAR 126.3mln year ago. Quarterly sales SAR 1.12bln. Qatar on Sunday decided on gradually lifting coronavirus-related measures in four phases starting the first phase on May 28 and the fourth on July 30, the state news agency said, citing a health ministry statement. The duration of each phase will be at least 3 weeks with a continuous assessment of national indicators to determine moving from one phase to another. The first phase will allow a maximum of five vaccinated people to meet indoors with reopening mosques for daily and mass prayers with some restrictions. Kuwait’s Zain Group posted quarterly net income KD 45mln, down 5% YoY. Consolidated revenue of KD 382mln for Q1, down 6% YoY. Egypt’s El Sewedy Electric enters Asian market with two acquisitions in transformers sector in Indonesia and Pakistan. 95% of PT CG Power Indonesia and 100% of Validus Engineering, manufacturer of power transformers in Pakistan. National Bank of Kuwait Egypt posted Q1 net profit EGP 404.1mln versus EGP 402.8mln year ago. Q1 net interest income EGP 662.9mln versus EGP 728.6mln year ago. Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian business
5. # UAE Focus list MCAP PRICE (AEDm) (AED) 52WH 52WL PE PB (%)^ 1M% 3M% 6M% 12M% ADCB 43,551 6.26 6.75 3.98 9.23 0.78 4.3% 3.1 (2.6) 9.0 59.4 ADIB 18,304 5.04 5.16 3.21 11.03 0.92 4.1% 3.8 6.5 17.5 56.3 2,736 4.80 5.51 2.95 7.16 1.11 7.3% 3.2 3.8 26.1 66.0 59,372 4.75 4.82 2.75 24.41 17.08 4.3% 8.0 24.7 46.9 79.0 Agthia 4,529 6.29 7.00 2.53 76.78 1.89 2.6% (2.0) 18.6 50.7 121.6 Air Arabia 6,066 1.30 1.42 0.99 NA 1.35 0.0% 1.6 4.8 20.4 27.5 Ajman Bank 1,508 0.72 0.83 0.54 19.11 0.60 0.0% 1.1 (4.4) 2.7 20.3 Al Waha 2,450 1.26 1.30 0.62 10.03 0.76 4.8% 6.8 6.9 21.6 81.3 28,304 3.60 3.88 1.64 14.65 1.10 4.0% (0.8) 3.0 39.1 117.5 2,220 0.89 0.92 0.75 218.72 0.88 2.5% 4.7 12.3 15.3 13.1 360 0.24 0.38 0.20 NA 1.47 0.0% 8.6 (2.8) (8.7) (27.5) Aramex 5,871 4.01 4.49 2.88 26.92 2.15 3.2% 2.1 (6.0) 1.3 43.6 BOS 1,176 0.56 0.77 0.50 NA 0.37 0.0% (3.4) (10.4) 9.8 (8.2) DAMAC 7,683 1.27 1.75 0.55 NA 0.59 NA 5.8 (2.3) 24.5 124.8 Dana Gas 5,498 0.79 0.84 0.61 46.53 0.69 7.0% 5.2 21.6 29.9 28.7 Deyaar 1,577 0.27 0.33 0.24 NA 0.37 0.0% 2.2 (4.5) (0.4) 5.4 DFM 8,800 1.10 1.29 0.65 69.49 1.13 0.0% 5.8 1.9 32.9 61.8 Dubai Inv. 6,845 1.61 1.72 1.09 14.32 0.57 NA 3.8 12.8 47.2 64.6 Company ADNIC ADNOC Dist Aldar Amanat Amlak DIB HIGH-LOW VALUATION Div. HISTORICAL RETURN 32,871 4.54 5.15 3.25 13.27 0.91 4.4% (1.7) (4.7) 13.9 38.6 Easy Lease 570 19.00 26.80 10.00 23.19 12.00 NA (18.8) (9.7) - - Emaar Dev 12,119 3.03 3.20 1.89 7.31 1.08 0.0% 20.7 5.2 27.3 53.0 Emaar Malls 25,507 1.96 1.99 1.10 36.25 1.34 0.0% 12.0 16.7 34.2 71.9 Emaar Pro. 28,637 4.00 4.22 2.34 10.94 0.50 2.5% 12.2 6.9 45.6 68.2 DU 30,414 6.71 7.22 4.97 22.61 3.73 4.2% (0.7) 5.3 26.0 40.5 ENBD 78,637 12.45 12.60 8.23 12.02 0.95 3.2% 6.9 11.2 30.3 50.5 Eshraq 739 0.32 0.46 0.22 NA 0.56 NA 3.2 6.0 (0.0) 19.5 Etisalat 187,493 21.56 22.18 14.52 20.58 4.20 5.6% (0.2) 12.5 31.7 52.8 FAB 160,515 14.70 15.10 10.36 15.11 1.49 5.0% 2.2 3.2 31.5 33.3 GFH 2,413 0.63 0.68 0.51 13.22 0.66 2.7% 4.8 5.3 18.8 23.2 Gulf Nav. IHC 321 0.32 0.55 0.30 NA 1.03 0.0% (5.7) (11.5) (21.3) (13.5) 177,356 97.40 100.00 25.02 35.58 18.43 NA 11.3 109.5 144.6 280.5 1,825 1.58 1.77 0.63 NA 2.03 0.0% (0.6) 0.6 6.0 139.2 (0.0) Julphar Mashreqbank 11,539 65.00 71.00 62.00 NA 0.61 6.2% NA (3.6) (4.3) NBF 9,535 4.98 NA NA NA NA 1.9% NA NA NA NA Tabreed 8,188 2.95 3.15 1.79 14.81 1.55 1.9% 5.4 10.7 18.3 55.4 RAK Bank 6,084 3.63 4.24 3.33 13.11 0.77 4.1% (9.2) (2.4) 2.3 3.7 RAK Pro. 1,120 0.56 0.64 0.33 6.76 0.28 7.1% 12.2 4.7 42.1 58.6 RAK Cer. 1,908 1.92 1.98 1.24 NA 0.89 3.9% 16.4 22.4 43.4 38.4 SALAMA 1,008 0.83 0.97 0.47 6.50 1.19 9.9% 2.7 9.3 24.1 91.3 SIB 4,222 1.37 1.43 1.00 10.14 0.56 5.8% 3.8 6.0 24.1 41.0 SHUAA 1,547 0.61 0.77 0.50 12.08 1.04 4.9% 1.1 (11.3) 5.7 9.6 247 1.65 1.65 1.20 600.00 2.18 5.0% 12.2 4.4 15.4 15.4 113.1 Tak. E. Ins. TAQA 155,151 1.38 1.78 0.61 34.18 2.46 1.8% 1.5 (2.8) (17.9) Union Pro. 1,162 0.27 0.39 0.25 5.78 0.40 0.0% 2.3 (0.4) 1.1 (1.5) UAB 1,541 0.75 0.89 0.59 NA 1.07 0.0% (15.6) (7.4) (16.4) (16.4) (Source: Bloomberg) ^ current dividend yield based on latest dividend declaration
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