UAE: Daily Market Trading Report - 15 April

Transcription

1. IS Morning Report Sunday , April 15, 2018 Global & Regional Benchmarks Indices Close UAE Trading Summary 1Day 1Mnth 3Mnth YTD 1Y (AEDm) Change Change Change Change Change 173 - -8.2% -11.8% Local 40% 46% -6% 60% 54% 6% 68% 56% 12% 32% 44% -12% -1.5% 19.1% DFM 282 282 - -0.6% 14.1% Local 72% 71% 2% 28% 29% -2% 69% 60% 8% 2.8% Retail 31% 40% -8% 4.8% Total 455 455 - -4.3% 18.8% Local 60% 61% -1% 40% 39% 1% -0.8% DFM 3,094 -1.2% TASI 7,824 0.3% 0.6% 6.6% 8.3% 10.6% Foreign KWSEI 6,633 0.5% -1.4% 1.1% 3.5% 17,616 -1.8% Dow Jones 24,360 -0.5% -2.4% -5.6% S&P 500 2,656 -0.3% -3.5% -4.3% Nasdaq 7,107 -0.5% -5.0% -1.6% FTSE 100 7,265 0.1% 1.4% -6.3% -5.5% 12,442 0.2% 0.4% -6.1% -3.7% 5,315 0.1% 0.6% -3.6% 0.0% Nikkei225 21,779 0.5% 0.5% -9.1% HIS 30,808 -0.1% -2.2% -3.4% CAC40 -2.3% -11.5% NET 173 4,653 DAX 1.3% SELL 3.0% ADX ADX EGX 2.5% BUY 5.8% -5.3% Institutional 3.7% 15.6% 17.3% 35.8% Retail 2.9% 22.4% Foreign -0.9% Institutional 3.0% 27.0% Foreign Upcoming Corporate Actions & Events Date Company Event 16-Apr Arabtec General Assembly 19-Apr AMAN General Assembly 22-Apr Eshraq Properties Annual General Assembly 23- April DSI Annual General Assembly Meeting (AGM) Key Stories Dubai proposes new economic plans as it aims to boost growth and lower costs Dubai real estate deals total $15.7bn in Q1 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 , April 15, 2018 Emirates Says Talks With U.S. on Regulation Ongoing Emaar Hospitality Group and ARADA join hands to launch three distinctive hotels in Aljada, Sharjah's new lifestyle hub Sobha to launch $6.8bln Umm Al Quwain scheme by October Dubai Duty Free Q1 sales up 11% despite excise duty and VAT impact. Tabarak Uses Drake & Scull Shares as Financial Collateral International Financial Advisors - board approves transformation of company into a holding company Saudi Arabia Affirmed by Moody's on Fiscal Consolidation Effort. Saudi's $11 billion bond largely covers dollar funding for 2018 – official Spain signs $2.2 bln framework deal to sell warships to Saudi Arabia Egypt sees 2 pct primary surplus in FY 2018/19 on higher taxes, lower subsidies Qatar raises $12 bln in jumbo bond despite blockade Global Markets Wrap: Oil prices extended recent gains and a gauge of global stocks eased on Friday as concern over a broader conflict in Syria left investors nervous, while U.S. bank shares led Wall Street lower. The U.S. Treasury yield curve hovered at its lowest level in more than a decade on Friday as short-dated yields rose more than longer-dated ones this week on expectations of further interest rate increases from the Federal Reserve. Minutes from the U.S. central bank's policy meeting last month, which were released on Wednesday, showed most Fed officials were confident inflation is moving toward their desired 2-percent goal as the economy improves. Inflation data earlier this week that showed price pressures increasing were unsurprising, St. Louis Federal Reserve President James Bullard said on Friday as he downplayed the significance for monetary policy. Some analysts said the yield curve may end up inverting if it flattens further. When shorter-dated yields rise above longer-dated ones, this market phenomenon has been a reliable gauge of a U.S. recession. 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 , April 15, 2018 UAE: Dubai plans to implement new measures to help boost economic growth, attract new investments and cut the cost of doing business across sectors ranging from tourism to financial services. Sheikh Mohammed bin Rashid, UAE's Vice President and Ruler of Dubai, discussed the initiatives on Saturday with a group of government officials, the Dubai government’s media office said in a statement. Dubai Land Department (DLD) has revealed that real estate deals in Dubai totalled AED58 billion ($15.7 billion) via 13,759 transactions in the first three months of 2018. According to the DLD’s Department of Real Estates Studies & Research, Q1 saw a total of 9,092 sales transactions worth about AED19 billion, 3,717 mortgage transactions worth over AED30.6 billion, and 950 other transactions valued at AED8,408 billion. Emirates CEO Ahmed bin Saeed Al Maktoum comments in interview to Asharq Al-Awsat on the new U.S. regulations imposed on Gulf airlines, including reducing the number of flights at some airports and preventing passengers from carrying electronic devices on board. Emaar Hospitality Group to operate Address, Vida and Rove hotels in ARADA’s flagship destination Aljada in Sharjah. A joint venture between KBW Investments and Basma Group, ARADA launched Aljada, a 24 million sq ft mixed-use megaproject, in September 2017. Emaar Hospitality Group’s three hotel and serviced residences brands will enrich the hospitality offering of Aljada setting a new benchmark in the emirate’s hospitality sector. Address Aljada Sharjah (150 rooms), Vida Aljada Sharjah (175 rooms) and Rove Aljada Sharjah (300 rooms) to support emirate’s growing tourism sector 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 , April 15, 2018 Sobha to launch $6.8bln Umm Al Quwain scheme by October. The chairman of real estate developer Sobha Group, PNC Menon, has said that the 25 billion UAE dirham ($6.8 billion) Firdaus Sobha planned for an island in the emirate of Umm Al Quwain will be launched ahead of this year's Cityscape Global exhibition in October, with infrastructure work likely to start "between June and July". Dubai Duty Free Q1 sales up 11% despite excise duty and VAT impact. Dubai Duty Free's first quarter sales jumped 11 per cent to Dh1.91 billion despite the introduction of excise duty and VAT at arrivals terminals, signalling a positive start to 2018 on the back of record sales of Dh7.05 billion in 2017. Drake & Scull shareholder Tabarak transferred 57 million shares to Emirates Investment Bank as a collateral against financial facilities, according to a statement to Dubai stock market. International Financial Advisors - board approves transformation of company into a holding company GCC/ MENA: Saudi Arabia’s sovereign credit rating was affirmed at A1 by Moody’s Investors Service on expectations that fiscal consolidation will continue over the medium term, stabilizing the government’s debt burden. Moody’s expects the government’s ambitious structural reform agenda to "reduce the exposure of Saudi Arabia’s economy and public sector balance sheet to oil prices," according to the statement. The stable outlook indicates that the risks to the ratings are balanced, the agency said. Saudi Arabia has largely covered its hard currency funding needs for 2018 by completing this week's $11 billion international bond issue, the head of the kingdom's debt management office said. Riyadh has become one of the biggest emerging market debt issuers since it started borrowing internationally in 2016 to finance a state budget deficit caused by low oil prices. Spain and Saudi Arabia have signed a framework agreement to sell the Gulf Arab state warships under a deal estimated to be worth around 1.8 billion euros ($2.2 billion). Egypt is targeting a primary surplus of 2 percent of GDP in its 2018-19 fiscal year budget, the finance ministry said on Friday, as it looks to tighten its finances and push ahead with economic reforms tied to a $12 billion IMF loan programme. The 2 percent target would be a marked improvement from the 0.3 percent primary surplus the government expects to achieve in the current fiscal year. A primary surplus means that the state's revenues cover expenses before interest payments on debt. Qatar raised $12 billion in a bond issue on Thursday, the largest placement by an emerging market sovereign this year, marking a successful comeback to the international debt markets despite a 10-month-long rift with its Gulf neighbours. (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 , April 15, 2018 Daily Foreign Ownership Increase Company Name Foreign Change Ownershp (%) (%) Shares Mcap Change Change (AED) RAK Properties 28.80% 0.11 2,200,000 1,429,922 Dar Al Takaful 21.89% 0.07 105,000 72,341 Islamic Arab Ins. 23.46% 0.04 476,121 198,429 ADCB 14.95% 0.03 1,559,469 11,305,537 Gulf Nav 20.04% 0.03 275,763 281,263 DIB 16.68% 0.02 986,401 5,396,870 FAB 11.28% 0.01 1,085,071 13,403,981 ETISALAT 4.20% 0.01 869,680 14,828,044 RAK Cement 20.59% 0.01 50,312 43,042 Amanat 21.64% 0.01 250,000 332,482 Daily Foreign Ownership Decrease Company Name Foreign Change Ownershp (%) (%) Shares Mcap Change Change (AED) Manazel 19.96% -0.05 (1,300,000) (701,962) Union Properties 24.42% -0.04 (1,715,816) (1,475,521) Eshraq 35.48% -0.04 (930,000) (669,564) Air Arabia 23.54% -0.04 (1,866,680) (2,202,562) Dana Gas 60.49% -0.04 (2,790,649) (2,567,258) Marka 14.38% -0.03 (150,000) (68,996) Ajman Bank 10.69% -0.03 (504,097) (534,313) Dubai Investments 15.70% -0.03 (1,275,606) (2,627,748) Deyaar Dev 10.78% -0.03 (1,733,400) (807,720) 4.96% -0.02 (102,000) (145,852) International Holdings (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 , April 15, 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