UAE: Daily Market Trading Report - 17 December

Transcription

1. SHUAA Securities Morning Report # Market Stats Indices 1M Close 17 December 2020 3M # UAE Trading Summary 1Y Change Change Change Change A EDm BUY SELL Net ADX 5,154 0.4% 4.1% 14.4% 2.3% ADX 377 377 DFM 2,541 0.4% 10.5% 10.4% -7.1% Local 48% 67% -18% TASI 8,721 0.7% 2.3% 4.9% 7.2% Foreign 52% 33% 18% BHSEASI - 1,493 -0.1% 3.7% 6.6% -5.7% Institutional 81% 81% 0% EGX 10,983 -0.7% -0.1% -0.9% -18.1% Retail 19% 19% 0% Dow Jones 30,155 -0.2% 0.7% 7.6% 6.8% DFM 207 207 - S&P 500 3,701 0.2% 2.0% 9.3% 16.0% Local 52% 56% -4% Nasdaq 12,658 0.5% 6.2% 14.5% 43.6% Foreign 48% 44% 4% 6,571 0.9% 2.3% 8.1% -12.6% Institutional 31% 27% 4% 13,566 1.5% 3.3% 2.3% 1.2% Retail 69% 73% -4% 5,548 0.3% 1.4% 9.3% -7.4% Total 584 584 - Nikkei225 26,757 0.3% 3.3% 14.0% 11.7% Local 49% 63% -13% HIS 26,480 1.0% 0.3% 7.0% -3.8% Foreign 51% 37% 13% US Futures 3,707 0.2% 2.8% 10.3% 16.0% Europe Futures 3,550 0.2% 2.2% 6.6% -5.3% FTSE 100 DAX CAC40 # Last Trading Day's Short Sell Positions Company Short Volume (shrs.) Short Volume (%) Aldar (49,562) 0.2% 29.5 95.0 Etisalat (73,777) 4.2% 1.8 30.6 FAB (64,067) 1.0% 6.3 83.7 RAK Prop (62,456) 6.6% 0.9 0.4 Volume (m) Turnover (AEDm) # Upcoming Corporate Actions & Events Date Company Event 17-Dec SALAMA BoD/Dividend 17-Dec EMAAR DEV. BoD/General 17-Dec AGTHIA BoD/General 17-Dec DIC BoD/General 20-Dec ADCB BoD/General 21-Dec FTSE 4Q20 Review Effective Date 21-Dec Palms Sports Secondary Market Listing 22-Dec MASQ BoD/General 24-Dec GFH BoD/General
2. # KEY STORIES FAB opens Jakarta office to support MENA-Indonesia trade and investment Damac affirmed that 72.22% of the company’s shares are held by the Founder and Chairman Hussain Sajwani. DAMAC Properties said that foreign investors own 3% of the company’s shares, denying media reports claiming that 33.7% of its shares are owned by foreigners Abu Dhabi Securities Exchange and Israel's Tel Aviv Stock Exchange signed an agreement to explore potential opportunities for collaboration and cross-listing of securities ICD’s CEO said that we have embarked on a review of Meydan’s business strategy, aim is to improve efficiencies in operations. He added that the are slimming down the company’s debts while remaining fully committed to all liabilities UAE to raise clean energy use to 50% by 2050 under environment policy UAE on December 16 announced 1,278 new COVID-19 cases and 726 recoveries. The tally takes total cases in UAE to 188,545 with 165,749 recoveries and 626 deaths Saudi Arabia received its first shipment of COVID-19 vaccines on Wednesday morning and will begin distributing the shots in the next three days, the health minister said Saudi’s Sabic board proposes SAR 1.5 per share H2 dividend Saudi’s Hail Cement announces the approval of the board of directors the full settlement of SIDF loan balance of SAR 152mln Kuwait’s Remal Real Estate board approves settlement offer from Amar Holding Company Fitch Ratings says debt to weigh on Qatar's ratings, even after GCC détente. Normalisation of relations between Qatar and its neighbours would be credit positive for Qatar National Bank of Egypt Sells 0.95mln shares in Real Estate Egyptian Consortium for EGP 9.4mln, reducing stake to 31.59% from 33.95% Egypt's Commercial International Bank has included loss provisions in its third-quarter results in accordance with remarks made by the central bank, CIB's chairman # Key Global Trends/ Market Clues Asian stocks perched near record heights, the dollar languished at two-year lows and oil prices stood at their strongest since March on Thursday, as monetary support and the hope of fiscal stimulus in the United States put traders in a festive mood. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3% to touch an all-time high. Japan's Nikkei rose 0.2%, though both fell back to flat while investors waited for U.S. lawmakers to agree on stimulus. The risk-sensitive Australian and New Zealand dollars climbed to multiyear tops with the euro not far behind, and U.S. stock futures extended gains from Wednesday. Oil prices hit a nine-month high early on Thursday after U.S. government data showed that crude stockpiles fell last week and on optimism over a coronavirus relief package in the United States. Brent crude futures rose by 28 cents, or 0.6%, to USD 51.36 a barrel at 0116 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose by 27 cents, or 0.6%, to USD 48.09 a barrel. Both benchmarks hit their highest since early March.
3. # UAE Stories First Abu Dhabi Bank opens Jakarta office to support MENA-Indonesia trade and investment. FAB Indonesia will serve as a bridge to facilitate trade and investment flows between the UAE, wider GCC region, Egypt and Asia. Damac affirmed that 72.22% of the company’s shares are held by the Founder and Chairman Hussain Sajwani. Damc Properties said that foreign investors own 3% of the company’s shares, denying media reports claiming that 33.7% of its shares are owned by foreigners. Sajwani owns 18% of DAMAC Properties through companies registered in foreign jurisdictions and 54% through local companies. In addition, about 13% of total shares in the real estate giant are owned held through companies in foreign jurisdictions owned by Sajwani family members. In total, about 34% of the company’s shares are owned by companies in foreign jurisdictions: 31% are owned by UAE nationals and 3% are owned by foreign investors. Abu Dhabi Securities Exchange and Israel's Tel Aviv Stock Exchange signed an agreement to explore potential opportunities for collaboration and cross-listing of securities, UAE's official WAM news agency reported. The MoU was signed at a virtual signing ceremony on Wednesday. The MoU will facilitate the development of channels of communication to foster co-operation between the two exchanges and contribute to the growth of the capital markets in the UAE and Israel. It was the first time an Arab exchange has entered into a commercial relationship with the state of Israel, WAM noted. Mohammed Al Shaibani, ICD’s chief executive officer said that we have embarked on a review of Meydan’s business strategy, aim is to improve efficiencies in operations.” He added “We are slimming down the company’s debts while remaining fully committed to all liabilities,” Al Shaibani said. The goal is to bring down Meydan’s debt by 40pct by the end of this quarter, he said. A partnership with Indian developer Sobha Developers, negotiated in 2013, has also been dissolved, he said. “We have paused certain projects to rethink their viability, and cost efficiency, and also their compatibility within a Dubai context, before we reignite and relaunch them more solidly,” he said. By 2050, 50pct of electricity in the UAE shall be clean and emission-free, the Ministry of Climate Change and Environment (MoCCAE) said on Wednesday as it officially launched the country’s Environmental Policy, which the Cabinet approved in late November. The UAE Environmental Policy is also aimed at cutting individual and institutional energy consumption by 40pct by 2030 and strengthening the country’s climate change adaptation capabilities by 2030. The United Arab Emirates on December 16 announced 1,278 new COVID-19 cases, bringing the total confirmed cases in the country to 188,545. At the same time, 726 more patients have recovered from the virus, taking the tally of recoveries in the UAE to 165,749. UAE's Ministry of Health and Prevention said. It has reported 4 death from COVID-19 during the past 24 hours. The nationwide death toll stands at 626. # GCC/ MENA Saudi Arabia received its first shipment of COVID-19 vaccines on Wednesday morning and will begin distributing the shots in the next three days, the health minister said on Wednesday. Tawfiq al-Rabiah asked citizens and residents to register to receive the vaccine and reiterated that the vaccine would be free to all in the country. He did not specify how many shots had been received nor which vaccine it was. Last week, Saudi health authorities registered the Pfizer-BioNTech COVID-19 vaccine for import and use in the country. Saudi’s Sabic board proposes SAR 1.5 per share H2 dividend. Saudi’s Hail Cement announces the approval of the board of directors the full settlement of SIDF loan balance of SAR 152mln. Financial impact of transaction will be reflected in financial statements for year ending 31 December 2020. Kuwait’s Remal Real Estate board approves settlement offer from Amar Holding Company, settlement offer for KWD 6.4mln partnership contract against swaping investment in unlisted company by 18.9% stake. Fitch Ratings says debt to weigh on Qatar's ratings, even after GCC détente. Normalisation of relations between Qatar and its neighbours would be credit positive for Qatar. However, high public sector debt will
4. remain a drag on Qatar 's sovereign ratings. Estimate debt of non-bank government-related entities at around 38% of GDP in 2019. Expect Qatar fiscal deficit of about 3% of GDP in 2021. National Bank of Egypt Sells 0.95mln shares in Real Estate Egyptian Consortium for EGP 9.4mln, reducing stake to 31.59% from 33.95%. Egypt's Commercial International Bank has included loss provisions in its third-quarter results in accordance with remarks made by the central bank, CIB's chairman told Reuters on Wednesday. Former Chairman Hisham Ezz al-Arab stepped down in October after the central bank said that a committee had found "gross violations" of central banking law within CIB after an audit. CIB has prepared a correction plan based on the central bank's remarks and has implemented parts of it already, current chairman Sherif Samy told Reuters. Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian business
5. # UAE FOCUS LIST - COMPANY DATA MCAP Company PRICE HIGH - LOW 3M% 6M% 12M% 8.15 3.82 11.97 0.79 6.1% 0.5 13.7 22.6 (15.0) ADIB 17,434 4.80 5.85 3.19 11.07 0.92 5.7% 3.0 13.5 29.0 (3.8) 2,936 5.15 5.17 2.70 7.88 1.24 5.8% 12.0 33.8 71.7 83.9 ADNOC Dist TTM P/E TTM P/B YLD (%)^ HISTORICAL RETURN 6.23 ADNIC 52WL DIV 43,344 (A ED) 52WH VALUATION ADCB (A EDm) 1M% 46,875 3.75 3.76 2.40 22.56 16.87 5.1% 9.6 15.0 29.7 37.8 Agthia 2,598 4.33 4.60 2.50 87.60 1.39 3.5% (0.7) 35.7 60.4 32.1 Air Arabia 6,020 1.29 1.61 0.87 NA 1.47 7.0% 10.3 12.2 14.2 (7.0) Ajman Bank 1,638 0.78 0.93 0.50 59.36 0.65 0.0% 13.9 11.3 30.4 (12.9) Al Waha Capital 2,178 1.12 1.18 0.62 NA 0.72 NA 1.8 22.3 63.7 22.4 Aldar Properties 25,396 3.23 3.26 1.35 14.21 1.02 4.5% 18.8 56.8 86.7 61.4 Amanat Holdings 2,110 0.84 0.92 0.56 143.54 0.85 2.6% 6.8 1.6 (1.6) (2.2) 411 0.27 0.53 0.20 NA 0.83 0.0% 6.2 (18.0) (19.2) (46.1) Aramex 6,354 4.34 4.45 2.00 17.63 2.48 3.8% 8.5 14.8 31.7 24.9 Bank of Sharjah 1,428 0.68 0.83 0.50 NA 0.44 0.0% 25.7 28.3 10.6 (14.5) DAMAC Properties 9,196 1.52 1.54 0.36 NA 0.70 NA 43.4 61.7 120.3 84.2 Dana Gas 5,079 0.73 0.98 0.53 NA 0.64 7.6% 9.3 (0.5) 12.4 (16.5) Deyaar Development 1,705 0.30 0.39 0.18 46.53 0.38 0.0% 7.3 (0.7) 0.3 (21.1) Dubai Financial Market 7,496 0.94 0.98 0.50 51.63 0.97 2.7% 10.8 7.2 15.5 0.7 Dubai Investment 6,165 1.45 1.48 0.98 10.00 0.52 NA 23.9 20.8 25.0 20.4 33,669 4.65 5.86 3.04 8.88 0.90 7.5% 9.9 7.9 20.8 (7.7) 952 0.12 0.20 0.09 NA 0.83 0.0% 0.0 (11.9) (19.0) (40.5) Emaar Dev 11,080 2.77 3.97 1.79 5.57 1.01 0.0% 12.6 15.4 26.5 (27.7) Emaar Malls 24,337 1.87 1.94 0.98 21.34 1.28 0.0% 8.7 22.2 45.0 1.6 Emaar Properties 25,274 3.53 4.28 1.90 6.03 0.45 0.0% 18.5 18.1 27.0 (14.5) Emirates Integrated Tele 26,155 5.77 6.35 4.33 14.28 3.08 5.9% 4.9 8.9 17.2 9.4 Emirates NBD 67,903 10.75 13.90 6.33 9.15 0.82 3.7% 3.9 (0.5) 22.0 (12.1) (1.4) Amlak Finance Dubai Islamic Bank DXB Entertainments Eshraq Investments 795 0.34 0.46 0.16 NA 0.56 NA 6.9 (14.3) 40.7 Etisalat 150,454 17.30 17.34 11.02 16.83 3.21 4.6% 0.2 4.3 5.5 9.2 First Abu Dhabi Bank 146,765 13.44 15.92 7.78 14.79 1.45 5.5% 4.3 19.4 17.7 (7.0) 2,204 0.62 0.93 0.45 17.49 0.63 5.5% 9.6 (1.4) 9.0 (27.5) 431 0.42 0.63 0.28 NA 0.82 0.0% 2.9 (10.8) 0.7 (31.2) 74,132 40.70 41.00 6.00 33.66 13.06 NA 1.6 7.9 23.3 578.3 14.2 22.1 91.1 6.8 1.5 (16.6) GFH Gulf Navigation Holding IHC Julphar 1,675 1.45 1.54 0.54 NA 1.53 0.0% (2.7) 12,054 67.90 86.80 62.00 18.27 0.57 5.9% - National Bank of Fujairah 9,536 4.98 4.98 4.98 NA NA 1.9% NA NA NA 3.3 Tabreed 7,169 2.64 2.75 1.67 13.94 1.44 4.0% 1.1 22.2 35.4 35.4 RAK Bank 6,453 3.85 5.00 3.33 9.33 0.84 7.8% 10.0 9.7 12.9 (9.5) 942 0.47 0.48 0.33 8.66 0.25 8.5% 9.8 19.5 35.0 21.0 RAK Ceramics 1,481 1.49 1.81 1.24 18.00 0.64 9.6% 9.6 10.4 9.6 8.2 SALAMA 1,065 0.88 0.92 0.30 6.82 1.23 NA 13.5 13.0 79.8 65.5 Sharjah Islamic Bank 3,944 1.28 1.32 0.95 8.16 0.52 3.7% 8.5 6.7 17.4 13.6 SHUAA Capital 1,750 0.69 1.00 0.40 16.42 1.23 NA 7.8 (0.9) 22.6 (30.3) Mashreqbank RAK Properties Takaful Emarat Insurance 236 1.57 1.60 1.03 NA 1.88 5.3% 4.0 9.0 14.6 41.4 161,905 1.44 1.78 0.40 53.53 2.60 0.0% 0.7 6.7 123.3 125.4 Union Properties 1,265 0.30 0.39 0.15 4.39 0.42 0.0% 13.9 (3.0) (14.0) (0.0) United Arab Bank 1,751 0.85 1.13 0.81 NA 1.05 0.0% (5.0) (5.0) (5.0) (14.2) TAQA (Source: Bloomberg) ^ current dividend yield based on last year dividend declaration
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