UAE: Daily Market Trading Report - 11 March

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1. IS Morning Report Sunday , March 11, 2018 Global & Regional Benchmarks Indices Close UAE Trading Summary 1Day 1Mnth 3Mnth YTD 1Y Change Change Change Change Change BUY (AEDm) SELL NET ADX 4,527 0.2% -1.6% 5.8% 2.9% 1.6% ADX 417 417 - DFM 3,157 -0.8% -5.1% -7.0% -6.3% -10.3% Local 13% 12% 1% TASI 7,562 1.5% 2.1% 6.7% 4.6% 9.3% Foreign 87% 88% -1% KWSEI 6,778 -0.4% 1.9% 9.6% 5.8% 1.0% Institutional 92% 91% 1% 16,472 0.5% 10.4% 15.2% 9.7% 28.2% Retail 8% 9% -1% Dow Jones 25,336 1.8% 3.0% 3.4% 2.5% 21.2% DFM 512 512 - S&P 500 2,787 1.7% 4.9% 4.6% 4.2% 17.4% Local 38% 55% -17% Nasdaq 7,561 1.8% 8.3% 10.2% 9.5% 29.0% Foreign 62% 45% 17% FTSE 100 7,225 0.3% 0.7% -3.7% -6.0% -1.6% Institutional 56% 58% -1% 12,347 -0.1% 0.5% -6.3% -4.4% 3.2% Retail 44% 42% 1% 5,274 0.4% 2.6% -2.8% -0.7% 5.6% Total 929 929 - Nikkei225 21,469 0.5% 0.4% -6.1% -5.7% 9.5% Local 27% 36% -9% HIS 30,996 1.1% 5.2% 7.6% 3.6% 31.5% Foreign 73% 64% 9% EGX DAX CAC40 Upcoming Corporate Actions & Events Date Company Event 11-March UNB AGM 14-March RAK Bank AGM 20-March GFH AGM 21-March Ajman Bank AGM 21-March DU AGM Key Stories Drake & Scull German unit wins 110m dirham contract Aramex to target over 50% payout ratio. targets double digit growth in 2018, to focus on ecommerce, organic growth, acquisitions Dubai Stock Market Seeks to Segregate Conflicting Activities Integrated Securities (Regulated by the Securities & Commodity Authority) Al Bateen Towers, C2 P.O.Box 107077, Abu Dhabi, UAE Customer service: 8003437 / +971 24 942 777 Sales & Trading : +971 24 942 666 Facsimile: +971 26 354 669 Website: www.integratedsecurities.ae
2. IS Morning Report Sunday , March 11, 2018 Rak Properties Appoints Samuel Dean Sidiqi as CEO (effective May 6, 2018) Italy's Eni and Abu Dhabi's ADNOC to sign deal on Sunday Emirate of Sharjah sells $1 bln sukuk –official Emirates Global Aluminium to keep working with U.S. customers after tariff decision Tawuniya Reports Unexpected Full Year Loss Saudi Aramco signs preliminary gas deal with Shell Saudi Dar Al Arkan Real Estate hires banks ahead of 5-year dollar sukuk deal Saudi banks to see credit-positive recovery in 2018, says Moody’s Aspen Pharma may expand infant milk business into Saudi Arabia Egypt expects budget deficit of 9.5-9.7 pct in FY 2017/18 - presidency Egypt's new tourism minister reviews airline incentives Egypt's inflation falls, paving way for interest rate cut Average yields fall on Egypt's 6-month, 1-year T-bills - c.bank Global Markets Wrap: Stock markets across the globe rose the most in two weeks on Friday after U.S. job growth posted a sharp, unexpected increase, while a planned meeting between U.S. President Donald Trump and North Korea's Kim Jong Un gave crude oil a further boost. Oil prices rose nearly $2 on Friday, rebounding from two days of declines as Wall Street climbed on strong U.S. jobs data, while investors also grew hopeful that a planned meeting between U.S. President Donald Trump and North Korea's Kim Jong Un could ease geopolitical tensions. Brent crude LCOc1 futures rose $1.88 to settle at $65.49 a barrel, a 2.96 percent gain. Brent traded between $63.69 and $65.63 during the session. West Texas Intermediate (WTI) crude CLc1 futures rose $1.92 to settle at $62.04 a barrel, a 3.19 percent gain. U.S. crude traded between $60.14 and $62.14. Integrated Securities (Regulated by the Securities & Commodity Authority) Al Bateen Towers, C2 P.O.Box 107077, Abu Dhabi, UAE Customer service: 8003437 / +971 24 942 777 Sales & Trading : +971 24 942 666 Facsimile: +971 26 354 669 Website: www.integratedsecurities.ae
3. IS Morning Report Sunday , March 11, 2018 UAE: Drake & Scull German unit wins 110m dirham contract Aramex to target over 50% payout ratio. targets double digit growth in 2018, to focus on ecommerce, organic growth, acquisitions Dubai Financial Market seeks shareholders approval to segregate activities that constitute any potential conflict, according to a statement. To establish independent companies based on each activity. AGM to be held on March 28 Italian energy company Eni ENI.MI and state oil giant Abu Dhabi National Oil Co (ADNOC) are expected to sign a deal on Sunday, the Italian government and a source said. Rak Properties Appoints Samuel Dean Sidiqi as CEO (effective May 6, 2018) The government of Sharjah, the third-largest constituent of the United Arab Emirates, has raised $1 billion through a 10-year sukuk, the emirate’s biggest transaction in debt capital markets, a government official said on Thursday. The Islamic bond issue, the first under Sharjah’s newly established sukuk programme, was launched with initial price guidance of 150 basis points over the 10-year mid-swap rate and subsequently tightened to 135 bps. The deal priced on Wednesday. Emirates Global Aluminium (EGA) said it would continue working with U.S. customers to support their businesses after President Donald Trump pressed ahead with a 10 percent import tariff on aluminium. "The full implications for demand and supply in the United States will only become clear over time," a company spokesman told Reuters on Friday. GCC/ MENA: Tawuniya reported an unexpected loss for the full year. FY loss 146.5 million riyals, estimate profit 671.0 million (Bloomberg data) (2 estimates). FY net premiums written 7.32 billion riyals. FY gross written premiums 8.4 billion riyals Integrated Securities (Regulated by the Securities & Commodity Authority) Al Bateen Towers, C2 P.O.Box 107077, Abu Dhabi, UAE Customer service: 8003437 / +971 24 942 777 Sales & Trading : +971 24 942 666 Facsimile: +971 26 354 669 Website: www.integratedsecurities.ae
4. IS Morning Report Sunday , March 11, 2018 State oil giant Saudi Aramco signed a preliminary deal to pursue international gas opportunities with Royal Dutch Shell RDSa.L on Thursday as part of top crude exporter Saudi Arabia's diversification drive before the listing of Aramco. Dar Al Arkan Real Estate Development Co 4300.SE has mandated banks to arrange fixed-income investor meetings from March 12 in Europe, the United Arab Emirates, Singapore and Hong Kong ahead of a planned U.S. dollar fiveyear sukuk offering, according to a document issued by one of the banks. If the deal goes ahead, Dar Al Arkan will be the first Saudi company to issue an international bond this year. Saudi Arabia’s listed banks on aggregate reported a 9 per cent year-on-year increase in net profits in 2017, an improvement on a 5 per cent decline the previous year, due to lower interest expenses and prompting expectations of a credit-positive recovery in 2018, a Moody’s report said. “The results are credit positive for Saudi banks because their improvement occurred amid subdued economic activity, which negatively affected credit demand and banks’ revenue,” the report said. Moody’s estimates that the kingdom's real GDP contracted 0.7 per cent in 2017, while lending contracted by 1 per cent. Aspen Pharmacare APNJ.J is looking to expand its infant milk formula business into Saudi Arabia, its deputy chief executive said after the company reported a 26 percent rise in first-half profit. Aspen has been strengthening its business in emerging markets following the launch of its Alula infant milk formula brand in China last year, which is the world's biggest consumer of infant milk formula products. Egypt is targeting a budget deficit of 9.5 to 9.7 percent of GDP for the 2017-18 fiscal year that ends in June compared with 10.9 percent in the previous year, a statement from the presidency said on Saturday. Egypt's economic growth deteriorated after a 2011 uprising drove tourists and foreign investors away, but reforms tied to a $12 billion International Monetary Fund deal signed in 2016 have in recent months led to an improvement in economic indicators. Egypt's annual inflation dropped in February to its lowest in more than a year, paving the way for a potential interest rate cut later this month. Annual urban consumer price inflation fell to 14.4 percent in February from 17.1 percent in January, the official statistics agency CAPMAS said. Core inflation, which strips out volatile items like food, fell to 11.88 percent from 14.35 percent, central bank data showed. Egypt is reviewing a system of incentives for airlines that were put in place to bring back foreign visitors, the new tourism minister said on Thursday. Egypt's tourism industry, a crucial source of hard currency, has suffered in the years of turmoil that followed the 2011 uprising, as well as from the suspected bombing of a Russian plane in Sinai in 2015, which killed all 224 people on board. Average yields on Egypt's six-month and one-year treasury bills fell at an auction on Thursday, data from the central bank showed. The yield on the 182-day bill fell to 17.751 percent from 17.907 percent at the last similar auction, and the yield on the 357-day bill fell to 16.587 percent from 16.894 percent. (Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian Business) Integrated Securities (Regulated by the Securities & Commodity Authority) Al Bateen Towers, C2 P.O.Box 107077, Abu Dhabi, UAE Customer service: 8003437 / +971 24 942 777 Sales & Trading : +971 24 942 666 Facsimile: +971 26 354 669 Website: www.integratedsecurities.ae
5. IS Morning Report Sunday , March 11, 2018 Daily Foreign Ownership Increase Company Name Foreign Change Ownershp (%) (%) Shares Mcap Change Change (AED) Union Properties 24.35% 2.70 115,817,584 103,998,526 Dubai Isl. Ins 12.36% 0.08 180,600 142,486 Dar Al Takaful 22.24% 0.06 90,000 62,997 Gulf Nav 30.70% 0.03 300,000 295,050 DXBE 31.41% 0.03 2,399,974 1,343,912 Al Madina 24.34% 0.02 77,920 31,845 Shuaa Capital 18.05% 0.02 213,000 232,157 Agthia 0.13 0.01 60,000 230,987 Deyaar Dev 0.11 0.01 577,800 298,129 Takaful Ins 0.04 0.01 15,000 28,348 Daily Foreign Ownership Decrease Company Name Foreign Change Ownershp (%) (%) Shares Mcap Change Change (AED) Air Arabia 23.44% -0.35 (16,333,450) (21,232,329) RAK Properties 29.58% -0.09 (1,800,000) (1,475,920) Arabtec 18.31% -0.07 (1,050,000) (2,498,864) Islamic Arab Ins. 22.71% -0.05 (595,151) (280,705) Methaq Takaful Ins. 23.76% -0.04 (60,000) (49,197) Aldar 25.77% -0.03 (2,358,789) (5,094,707) Marka 14.53% -0.03 (150,000) (86,995) Dubai Investments 16.08% -0.02 (850,404) (1,845,276) Amanat 21.96% -0.02 (500,000) (714,961) Manazel 20.57% -0.02 (520,000) (291,184) (Source: ADX, DFM, Bloomberg, Reuters) Integrated Securities (Regulated by the Securities & Commodity Authority) Al Bateen Towers, C2 P.O.Box 107077, Abu Dhabi, UAE Customer service: 8003437 / +971 24 942 777 Sales & Trading : +971 24 942 666 Facsimile: +971 26 354 669 Website: www.integratedsecurities.ae
6. IS Morning Report Sunday , March 11, 2018 Institutional Sales and Trading Team Harshjit Oza harshjit@integratedsecurities.ae Direct Line: +971 2 494 2608 Disclaimer This report was prepared by Integrated Securities (“IS”) in and for the United Arab Emirates (“U.A.E.”). IS is a securities brokerage company regulated by the Emirates Securities and Commodities Authority (and neither an investment nor a financial advisory firm). The information contained in this report is given in summary and does not purport to be complete. All securities and financial product or instrument transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments and, in international transactions, currency risk. Content of this report is provided solely for informational purposes and private circulation and should not be construed as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities or any other financial product or instrument, or adopting any hedging or investment strategy and does not take into account your particular investment objectives, financial situation, tax implications or any other needs. Before acting on any information you should consider and confirm the appropriateness of the information having regard to these matters, any relevant offer document and in particular, you should seek professional financial advice. While based on information believed to be reliable, we do not guarantee and make no express or implied representation as to the accuracy of this report or complete description of the securities markets or developments referred to in this report. The information, contained in this report are as of the date indicated and are subject to change at any time without prior notice. This report may provide the addresses of, or contain hyperlinks to, websites. IS has not reviewed any such site and takes no responsibility for the content of the same. Such address or hyperlink is provided solely for your convenience and information and the content of any such website does not in any way form part of this document. Accessing such website or following such link through this report or IS’s website shall be at your own risk. The stated price of any securities mentioned in this report is as of the date indicated and is not a representation made by IS that any transaction can be effected at this price. This report is for UAE distribution and only under such circumstances as may be permitted by applicable law. The information contained in this report is not intended nor can it be construed as intended to be directed to any US persons (being any US Citizens, US Green Card Holders, or Resident Aliens subject to US income taxes for IRS purposes) unless stated otherwise. Neither IS nor its officers, directors or shareholders or other persons shall be liable for any direct, indirect, incidental or other damages including loss of profits arising in any way from the information contained in this report. This report is a mere update intended solely for the use by the intended recipients and the content of it may not be reproduced, redistributed or copied in whole or in part for any purpose without IS’s prior express consent. Integrated Securities (Regulated by the Securities & Commodity Authority) Al Bateen Towers, C2 P.O.Box 107077, Abu Dhabi, UAE Customer service: 8003437 / +971 24 942 777 Sales & Trading : +971 24 942 666 Facsimile: +971 26 354 669 Website: www.integratedsecurities.ae