UAE: Daily Market Trading Report - 13 April

Transcription

1. Morning Report 13 April 2022 UAE Trading Summary Market Stats Indices ADX DFM TASI BHSEASI EGX DJI S &P 500 Nasdaq FTSE DAX CAC40 Nikkei225 HSI MSCI EM MSCI Asia US Fut. EU Fut. Close Chg. 1M Chg. 10,102 3,569 13,646 2,104 10,899 34,220 4,397 13,372 7,577 14,125 6,537 26,335 21,336 1,110 173 4,414 3,744 -0.6% -0.5% 1.2% 0.2% 1.6% -0.3% -0.3% -0.3% -0.5% -0.5% -0.3% -1.8% 0.5% -0.1% -0.4% 0.5% -0.3% 5% 5% 8% 2% 4% 4% 5% 4% 6% 4% 4% 5% 4% 2% 1% 6% 0% 3M Chg. YTD Chg. 1Y Chg. 21% 11% 14% 17% -10% -6% -7% -12% 0% -12% -10% -8% -13% -12% -12% -6% -13% 19% 12% 21% 17% -9% -6% -8% -15% 3% -11% -9% -9% -9% -10% -11% -7% -12% 66% 38% 38% 44% 4% 1% 7% -3% 10% -7% 6% -11% -25% -16% -16% 7% -4% Close (AED) 0.75 13.00 5.13 Change (%) 0.1 11.3 (0.8) AEDm ADX Local Foreign Institutional Retail DFM Local Foreign Institutional Retail Total Local Foreign Buy 1,542 75% 25% 83% 17% 1,789 55% 45% 35% 65% 3,330 64% 36% Last Trading Day's Top Short Positions Company RAK Properties Palms Aldar Short Interest (Short shares/Out. shares) 0.060% 0.045% 0.034% Upcoming Corporates Actions & Events Date 14-Apr 15-Apr 15-Apr 20-Apr 20-Apr 21-Apr 21-Apr 22-Apr 27-Apr 27-Apr 28-Apr 29-Apr 29-Apr Company Alpha Dhabi Easy Lease Agthia Yahsat ADNOC Drilling Dana Gas IHC Eshraq Deyaar AD Ports Reem EMAAR Aramex Event AGM AGM Ex-Div. date Ex-Div. date AGM AGM AGM AGM AGM/Capital Reduction AGM AGM/ Acquisition offer & delisting Ex-Div. date Ex-Div. date 52WH 0.97 21.48 5.22 High - Low 52WL 0.51 10.50 3.49 Sell 1,542 84% 16% 81% 19% 1,789 39% 61% 65% 35% 3,330 60% 40% Net -9% 9% 2% -2% 15% -15% -29% 29% 4% -4%
2. # KEY STORIES ADQ and Chimera Investments partner to launch UAE's first SPAC on ADX, plan to raise AED 367mln through an IPO of 36.7mln shares at an offer price of AED 10 per share Response Plus Holding calls board meeting to discuss expansion plan in India through incorporating a wholly owned subsidiary, board meeting to be held on 14 April 2022 DEWA and Etihad WE complete strategic water interconnection project in Masfout DEWA stock surged 15.7% on market debut, after its USD 6.1bln IPO ADQ bought shares worth USD 1.85bln in five publicly traded Egyptian companies on Tuesday Aldar's shareholder approves 15% dividends for 2021, the cash dividend payout stands at 15 fils per share aggregating at a total value of AED 1.17bln Invest Bank accumulated losses stand at AED 2.04bln, which is about 64.2% of the total capital Flydubai resumes flights to Taif, Saudi Arabia, this brings the number of destinations served by the carrier in the Kingdom to seven UAE on Apr 12 announced 216 new Covid-19 cases and 509 recoveries. The tally takes total cases in UAE to 894,286 with 875,116 recoveries and 2,302 deaths Saudi Ground Services announce awarding of operation and maintenance contract for passenger bridges and apron services at King Abdulaziz International Airport in Jeddah Saudi United Wire Factories appoints Khaled Saad Al Kanhal as Chairman Saudi Bank Albilad shareholders have approved to increase share capital by way of issuing bonus shares, share capital after increase will be SAR 10bln Qatar National Bank posted a 9% rise in quarterly profit to QAR 3.62bln for 1Q222, up from QAR 3.31bln a year earlier, helped by healthy loan growth and cost savings Kuwait Shuaiba Industrial signs agreement to sell entire stake in Yanbu Saudi Kuwaiti Paper Products Kuwait Real Estate signs a loan agreement with a bank in UAE for a loan value USD 38.11mln to finance development of projects in UAE Egyptair to resume direct flights between Cairo and Moscow from April 15 # Key Global Trends/ Market Clues Asian shares rose on Wednesday boosted by U.S. inflation figures that fared better than markets' worst expectations and caused U.S. yields to pause their march higher, though Chinese shares remained pressured by COVID-19. Share market sentiment was also capped by gains in oil and other commodity prices after Russian President Vladimir Putin said that on-and-off peace negotiations "have again returned to a dead-end situation for us", which also hurt the euro. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5% and Japan's Nikkei jumped 1.54%. S&P500 futures gained 0.2% and Nasdaq futures gained 0.57% in Asia trade. Oil prices climbed on Wednesday on worries that sliding output in sanctions-hit Russia, the world's second-biggest oil exporter, will tighten supply after Moscow said peace talks to resolve its invasion of Ukraine had come to a dead end. Brent crude futures rose 59 cents, or 0.6%, to USD 105.23 a barrel while U.S. WTI crude futures jumped 60 cents, or 0.6%, to USD 101.20 a barrel. Both contracts surged more than 6% in the previous session. Russian President Vladimir Putin on Tuesday blamed Ukraine for derailing peace talks and said Moscow would not let up on what it calls a "special operation" to disarm its western neighbour.
3. # UAE Stories ADQ and Chimera Investments partner to launch UAE's first SPAC on ADX, plan to raise AED 367mln through an IPO of 36.7mln shares at an offer price of AED 10.00 per share. SPAC will aim to identify and acquire one or more high-growth, high potential businesses in MENA region. Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ, will be the Chairman of ADC and Syed Basar Shueb, Chairman of Chimera Investments, will be the Vice Chairman of ADC. Response Plus Holding calls board meeting to discuss expansion plan in India through incorporating a wholly owned subsidiary, board meeting to be held on 14 April 2022. DEWA and Etihad WE complete strategic water interconnection project in Masfout. The interconnection allows the exchange of up to two million gallons of potable water in case of emergencies or other purposes, DEWA said in a press statement. DEWA stock surged 15.7% on market debut after USD 6.1bln IPO. The share rose to AED 3.00 in early trade, up from the IPO price of AED 2.48, before settling at AED 2.87, 15.7% up, by the end of the session. ADQ bought shares worth USD 1.85bln in five publicly traded Egyptian companies on Tuesday, helping Egypt after the Ukraine crisis prompted foreign investors to flee. ADQ's purchases on Tuesday included 340.1 million shares of CIB for USD 911.5mln, 271.6mln shares in Abu Qir Fertilisers and Chemical Industries for USD 391.9 million, 45.8mln shares of Misr Fertilisers Production for USD 266.6mln and 476.7mln shares of Alexandria Container and Cargo Handling for USD 159.1mln, and 215.1mln shares of electronic payments provider Fawry for USD 68.6mln as well as a rights issue for another 201.6mln shares worth USD 54.9mln. Aldar's shareholder approves 15% dividends for 202, the cash dividend payout stands at 15 fils per share aggregating at a total value of AED 1.17bln. Invest Bank accumulated losses stand at AED 2.04bln, which is about 64.2% of the total capital. Flydubai resumes flights to Taif, Saudi Arabia, this brings the number of destinations served by the carrier in the Kingdom to seven. UAE on April 12 announced 216 new Covid-19 cases, bringing the total confirmed cases in the country to 894,286. At the same time, 509 more patients have recovered from the virus, taking the tally of recoveries in the UAE to 875,116, UAE's Ministry of Health and Prevention said. It has reported zero deaths from Covid-19 during the past 24 hours. The nationwide death toll stands at 2,302. # GCC/MENA Saudi Ground Services announces awarding of operation and maintenance contract for passenger bridges and apron services at King Abdulaziz International Airport in Jeddah. The contract value is SAR 342.8mln and is spread over 5 years. The financial impact will of the contract will start from the second quarter of 2022. Saudi United Wire Factories appoints Khaled Saad Al Kanhal as Chairman. Saudi Bank Albilad shareholders have approved to increase share capital by way of issuing bonus shares, share capital after increase will be SAR 10bln. Qatar National Bank posted a 9% rise in quarterly profit to QAR 3.62bln for 1Q222, up from QAR 3.31bln a year earlier, helped by healthy loan growth and cost savings. Gulf banks are recovering as pandemiclinked restrictions are eased and economic activity picks up, enjoying a boost from higher energy prices as oil is the region's biggest export. Kuwait Shuaiba Industrial signs agreement to sell entire stake in Yanbu Saudi Kuwaiti Paper Products Kuwait Real Estate signs a loan agreement with a bank in UAE for a loan value USD 38.11mln to finance development of projects in UAE. Egyptair to resume direct flights between Cairo and Moscow from April 15. Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian business
4. # UAE Focus List MCAP PRICE (AEDm) (AED) 52WH 52WL PE PB (%)^ ADCB 74,027 10.64 11.30 6.13 14.12 1.39 ADIB 31,598 8.70 10.46 4.82 15.23 1.54 3,984 6.99 7.63 4.65 9.45 ADNOC Dist. 51,000 4.08 5.01 3.85 ADNOC Drill.* 57,280 3.58 3.92 2.77 AD Ports Company ADNIC HIGH-LOW VALUATION Div. HISTORICAL RETURN 1M% 3M% YTD% 12M% 3.5% 0.7 25.8 29.2 79.2 3.6% (1.2) 31.0 31.0 83.7 1.47 5.7% 3.9 6.4 10.2 57.1 22.64 15.93 5.0% 1.7 (0.9) (2.1) (3.1) 25.69 5.88 4.2% (2.5) 5.9 5.3 NA 19,240 3.78 4.07 3.22 22.77 1.81 - 10.9 - - - Agthia 3,618 4.57 7.32 4.31 NM 1.31 3.6% 0.4 (2.8) (11.3) (27.4) Air Arabia 9,007 1.93 2.00 1.25 12.51 1.48 4.4% 21.7 40.2 40.2 60.1 Ajman Bank 1,684 0.80 0.91 0.64 14.50 0.64 - (2.8) (2.1) (2.7) 13.8 40,335 5.13 5.22 3.49 17.42 1.50 2.9% 17.7 22.7 28.6 42.9 269,000 26.90 30.20 15.00 NA NA - (1.4) 7.8 (1.5) NA Amanat 2,700 1.08 1.27 0.85 9.61 0.97 5.6% 0.8 (1.0) (1.0) 32.9 Aramex 5,534 3.78 4.80 3.50 30.86 2.08 3.4% (3.8) (5.5) (7.8) (3.6) ASM 11,600 11.60 16.94 10.46 NM 2.00 - (2.5) (6.0) (16.5) NA BOS 1,166 0.53 0.76 0.49 NULL 0.31 - (3.3) (8.8) (14.5) (4.3) Dana Gas 8,464 1.21 1.27 0.77 7.32 1.01 6.6% 6.1 17.5 14.2 64.8 Aldar Alpha Dhabi Deyaar 2,831 0.49 0.55 0.26 55.68 0.65 - 5.8 (3.2) 1.0 84.9 DFM 22,000 2.75 3.05 0.98 NM 2.77 1.1% 23.7 5.5 (2.0) 165.2 DIC 10,800 2.54 2.58 1.51 17.43 0.89 4.7% 6.3 27.0 31.6 62.8 DIB 44,675 6.17 6.63 4.44 11.70 1.15 4.1% 2.8 16.8 19.4 42.4 DU 29,872 6.59 7.28 5.90 27.14 3.50 3.2% 0.8 2.1 1.2 1.4 Easy Lease 1,314 43.80 66.85 19.00 35.45 15.79 - 7.9 47.5 51.0 86.5 Emaar Dev. 18,400 4.60 4.75 2.54 5.67 1.27 - 6.0 5.3 5.3 77.6 Emaar Pro. 49,078 6.00 6.17 3.65 11.53 0.80 2.5% 13.2 20.5 22.7 68.2 ENBD 94,117 14.90 15.50 11.30 10.80 1.13 3.4% 0.7 17.1 13.6 34.5 1,775 7.10 11.80 3.01 NM 3.61 - (2.6) (7.8) (11.3) NA Etisalat 320,041 36.80 39.06 21.10 34.35 6.73 2.2% 5.1 22.7 16.1 71.8 FAB 261,387 23.66 24.06 14.00 21.46 2.32 2.1% 6.6 28.8 29.9 72.8 47,235 5.69 5.95 2.92 33.73 7.73 4.2% 14.9 59.7 67.9 NA 4,518 1.17 1.34 0.60 12.72 1.17 3.8% 3.5 (1.4) 3.5 98.7 ESG Fertiglobe* GFH Ghitha 10,460 104.60 104.60 7.95 NA 11.18 - 60.3 273.8 280.4 935.6 369,750 203.00 203.00 84.60 50.38 13.64 - 8.2 33.4 33.6 134.7 1,606 1.39 2.32 1.31 34.53 1.68 - (6.7) (23.2) (24.5) (0.7) Mashreq 13,541 67.50 79.95 53.10 13.51 0.67 1.5% (4.9) (11.2) (15.1) 17.3 Multiply 19,264 1.72 2.35 1.51 NA 1.90 - 8.2 1.8 (6.5) NA NMDC 12,969 15.72 18.48 6.85 12.88 2.35 - 16.6 17.8 20.6 126.5 Palms Sports 1,950 13.00 21.48 10.50 21.23 5.92 - 1.7 8.9 6.4 (7.4) RAK Bank 8,884 5.30 5.30 3.63 11.75 1.06 4.2% 3.9 20.5 17.8 35.9 RAK Pro. 1,506 0.75 0.97 0.51 7.47 0.37 - (4.1) (6.5) (2.3) 48.2 RAK Cer. 2,852 2.87 3.38 1.70 NM 1.28 7.0% 0.4 1.7 4.2 81.0 RPM 1,700 8.50 20.00 7.05 26.15 6.82 - (5.3) (4.5) (11.9) NA 841 0.70 0.97 0.63 20.62 1.08 - 7.1 (10.2) (8.7) (14.5) SIB 6,132 1.99 2.12 1.31 11.93 0.80 4.0% (3.9) 4.0 6.2 56.8 Shuaa 1,636 0.65 0.83 0.56 102.22 1.12 - 8.8 (5.8) (5.8) 5.8 Tabreed 7,056 2.48 3.07 2.33 13.89 1.23 2.4% (0.7) 2.1 2.9 (11.8) TAQA 155,159 1.38 1.53 1.13 26.03 2.35 3.4% 13.2 13.2 7.2 3.1 Waha 2,975 1.53 1.91 1.12 7.37 0.87 4.9% 1.5 2.1 (3.8) 40.5 Yahsat * 6,807 2.79 3.10 2.46 26.56 2.20 5.7% (2.1) 4.1 (Source Bloomberg) ^ Current dividend yield based on latest dividend declaration. * Expected dividend 1.8 NA IHC Julphar Salama
5. Disclaimer This report has been issued by International Securities for informational purposes only . This report is not and should not be construed as an offer or the solicitation of an offer to purchase or subscribe or sell any investment or subscribe to any investment management or advisory service. Recipients should not base their investment decisions on this report and should make their own investigations, and obtain independent advice, as appropriate. International Securities has based this document on information obtained from publicly available information, and sources it believes to be reliable without being independently verified for their accuracy or completeness. It makes no guarantee, representation or warranty as to its accuracy or completeness and accepts no responsibility or liability in respect thereof or for any reliance placed by any person on such information. All opinions expressed herein are subject to change without notice. This report may not be reproduced or circulated without the prior written consent of International Securities. International Securities owns the intellectual property rights and any other material contained in this report. International Securities is regulated by the United Arab Emirates Securities and Commodities Authority under license number 20200000017. International Securities is a member of the Abu Dhabi Securities Exchange, Dubai Financial Market and NASDAQ Dubai.