UAE: Daily Market Trading Report - 18 February

Transcription

1. 18 February 2021 Morning Report # Market Stats Indices # UAE Trading Summary Close 1M 3M Change Change Change 1Y Change AEDm Buy Sell Net ADX 5,636 -0.5% 6.7% 13.6% 10.9% ADX DFM 2,594 -0.6% -3.7% 12.0% -5.6% Local 61% 54% 7% TASI 9,084 -0.2% 2.4% 6.0% 15.4% Foreign 39% 46% -7% BHSEASI 1,478 0.3% 1.7% 2.1% -11.1% Institutional 83% 92% -8% EGX 11,413 -1.0% -0.3% 3.2% -17.3% Retail 17% 8% 8% Dow Jones 1,068 1,068 - 31,613 0.3% 2.6% 6.1% 7.5% DFM 156 156 S&P 500 3,931 0.0% 4.3% 8.9% 16.3% Local 53% 46% 7% Nasdaq 13,965 -0.6% 7.4% 17.4% 43.5% Foreign 47% 54% -7% FTSE 100 - 6,711 -0.6% -0.4% 5.4% -9.7% Institutional 39% 57% -19% 13,909 -1.1% 0.9% 5.9% 0.9% Retail 61% 43% 19% 5,766 -0.4% 2.7% 5.2% -5.3% Total Nikkei225 30,292 -0.6% 6.2% 16.4% 28.8% Local 60% 53% 7% HIS 30,724 1.1% 8.8% 17.7% 11.2% Foreign 40% 47% -7% 1,445 0.2% 6.4% 20.3% 30.4% 221 0.0% 5.8% 17.4% 29.8% US Futures 3,919 -0.2% 3.4% 9.5% 15.7% Europe Futures 3,699 0.1% 3.1% 7.2% -4.2% DAX CAC40 MSCI EM MSCI Asia 1,224 1,224 - # Last trading day's short sell positions Company Short Volume (shrs.) Short Volume (%) RAK Properties (450,605) 4.9% 9.2 5.4 ADNOC (165,464) 0.5% 34.3 135.4 FAB (39,893) 0.2% 16.5 245.8 Etisalat (26,901) 1.0% 2.7 53.6 Eshraq (5,000) 0.0% 26.5 6.5 # Upcoming Corporate Actions & Events Date Company Event 18-Feb Agthia BoD/Acquisition 19-Feb FTSE 1Q21 Index Announcment Date 20-Feb SIB AGM 22-Feb Etisalat BoD/Dividend 24-Feb ENBD AGM 24-Feb EIB AGM Volume (m) Turnover (AEDm)
2. # Key Stories Ajman Bank has reported a net profit of AED 53.4mln in 2020 compared to AED 84.4mln a year ago. Revenue decline to AED 614.6mln in 2020 from AED 636.0mln in 2019 National Corp for Tourism and Hotels posted FY net profit AED 114.8mln vs AED 110.6mln year ago. FY revenue AED 765.4mln vs AED 767.5mln year ago Tabreed has stated it is studying potential acquisition of district cooling assets situated at Dubai International Airport Dana Gas is exploring financing avenues, including green bonds, to raise around USD 500mln for a plan to more than double its output capacity - CEO UAE’s General Civil Aviation Authority has lifted its ban on Boeing’s 737 Max, allowing the plane to return to its skies after being grounded for nearly two years Mubadala Petroleum appoints Mansoor Mohamed Al Hamed as Chief Executive Officer - Abu Dhabi Media Office UAE has decreased its holdings of the US Treasury bonds by 1.4% MoM to USD 36.3bln in December 2020, compared to around USD 36.8bln in November UAE on February 17 announced 3,452 new COVID-19 cases and 3,570 recoveries. The tally takes total cases in UAE to 358,583 with 343,935 recoveries and 1,055 deaths Saudi Arabia's crude and total oil products exports in December 2020 rose to 7.71mln barrels per day from 7.42mln bpd in November, official data showed on Wednesday Saudi’s Samba Financial Group posted FY net profit SAR 4,204mln, up 5.3% YoY. FY total revenue for special commissions/investments SAR 7,445mln Saudi’s Petro Rabigh posted FY net loss after zakat and tax 3,781mln. FY sales SAR 21,870mln, down 35.8% National Bank of Bahrain posted FY net profit BD 53.3mln versus BD 74.2mln year ago. Board proposes FY bonus share of 10% of paid-up capital and 20 fils per share FY cash dividend National Bank of Kuwait Egypt posted FY net profit EGP 1.44bln vs EGP 2.17bln year ago. FY net revenue EGP 3.26bln vs EGP 3.77bln year ago Egypt’s Misr Fertilizers posted FY standalone net profit after tax EGP 1.14bln versus EGP 830.4mln year ago. FY standalone sales EGP 2.63bln versus EGP 2.41bln year ago Egypt's Sidi Kerir Petrochemicals posted FY net profit after tax EGP 26mln vs EGP 487mln year ago. FY sales EGP 3.47bln vs EGP 4.96bln year ago Egypt’s Alexandria Medical Services receives offer from Tawasol Holding to acquire 74.08% stake in company at EGP 38.09/share # Key Global Trends/ Market Clues Chinese shares rose on Thursday during the first trading session after the week-long Lunar New Year holiday amid renewed optimism for an acceleration in global growth, but other Asian markets were hit by profit-taking. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.15% but was still close to an all-time high. Shares in China rose 0.77%. Australian stocks erased gains to trade 0.05% lower, while Japan's Nikkei was unchanged. E-mini futures for the S&P 500 fell 0.04%. On Wall Street, technology stocks fell, driving down the Nasdaq while other companies rose on broader economic optimism. The Dow Jones Industrial Average rose 0.29%, while the S&P 500 lost
3. 0 .03% and the Nasdaq Composite dropped 0.58%. The MSCI's global stock index fell 0.04% but was still near a record high. OPEC's secretary general said on Wednesday there were grounds for optimism that 2021 would be a year of recovery after the slump in oil prices and demand caused by the pandemic. "While there are grounds for optimism that 2021 will be the year of recovery, there are many other uncertainties that lie ahead," Mohammad Barkindo told a virtual International Energy Forum event. Barkindo also said there was no prospect of a peak in oil use on the "immediate horizon." Oil prices rose as much as a dollar on Thursday, extending this week's gains and hitting 13-month highs, as a cold snap sweeping Texas and surrounding regions shut at least a fifth of U.S. refining output and a million barrels of crude production. Brent crude climbed 93 cents, or 1.5%, to USD 65.27 a barrel by 0219 GMT, touching its highest since Jan. 20, 2020. U.S. West Texas Intermediate crude futures gained 76 cents, or 1.2%, to USD 61.90 a barrel, registering its highest since Jan. 8, 2020. # UAE Stories Ajman Bank has reported a net profit of AED 53.4mln in 2020 compared to AED 84.4mln a year ago. The bank’s revenue decline to AED 614.6mln in 2020 from AED 636.0mln in 2019. National Corp for Tourism and Hotels posted FY net profit AED 114.8mln vs AED 110.6mln year ago. FY revenue AED 765.4mln vs AED 767.5mln year ago. Tabreed has stated it is studying potential acquisition of district cooling assets situated at Dubai International Airport. The company continuously exploring potential acquisition opportunities in respect of prime district cooling assets in UAE, in wider region and internationally as part of its overall growth strategy. Confirm that acquisition study is preliminary in nature only, and that there is no acquisition agreement in place with any counterparty in respect of acquisition of these assets. Dana Gas is exploring financing avenues, including green bonds, to raise around USD 500mln for a plan to more than double its output capacity, its chief executive said. Dana plans to raise its capacity in the Kurdistan Region of Iraq (KRI) to 900mln standard cubic feet per day (mmscfd) with two processing trains of 250 mmscfd each. "The total scope that we're looking at is probably another USD 500mln. But that would ... be split up between hopefully contractor financing, some bank debt and maybe this green bond," CEO Patrick Allman-Ward told Reuters in an interview. UAE’s General Civil Aviation Authority has lifted its ban on Boeing’s 737 Max, allowing the plane to return to its skies after being grounded for nearly two years. Mubadala Petroleum appoints Mansoor Mohamed Al Hamed as Chief Executive Officer - Abu Dhabi Media Office UAE has decreased its holdings of the US Treasury bonds by 1.4% MoM to USD 36.3bln in December 2020, compared to around USD 36.8bln in November. On an annual basis, the UAE's holdings of the US debt instruments declined by 10.8% in 2020, compared to about USD 40.7bln by the end of 2019. The United Arab Emirates on February 17 announced 3,452 new COVID-19 cases, bringing the total confirmed cases in the country to 358,583. At the same time, 3,570 more patients have recovered from the virus, taking the tally of recoveries in the UAE to 343,935. UAE's Ministry of Health and Prevention said. It has reported 14 deaths from COVID-19 during the past 24 hours. The nationwide death toll stands at 1,055. # GCC/MENA Saudi Arabia's crude and total oil products exports in December 2020 rose to 7.71mln barrels per day from 7.42mln bpd in November, official data showed on Wednesday. Saudi’s Samba Financial Group posted FY net profit SAR 4,204mln, up 5.3% YoY. FY total revenue for special commissions/investments SAR 7,445mln. As of end-Dec, loan and advances stand at SAR 156.02bln riyals, up 10.2% YoY while clients' deposits stand at SAR 207.71bln, up 15.3% YoY. Saudi’s Petro Rabigh posted FY net loss after zakat and tax 3,781mln. FY sales SAR 21,870mln, down 35.8%. Accumulated losses as at December 31, 2020 amounted to SAR 2,804mln representing
4. 32 .01% of company's share capital. Main causes of accumulated losses is due to PRC complex being under planned total shutdown for periodic test & inspection for 60 days. National Bank of Bahrain posted FY net profit BD 53.3mln versus BD 74.2mln year ago. Board proposes FY bonus share of 10% of paid-up capital and 20 fils per share FY cash dividend. FY total operating income BD 148.9mln versus BD 121.7mln year ago. National Bank of Kuwait Egypt posted FY net profit EGP 1.44bln vs EGP 2.17bln year ago. FY net revenue EGP 3.26bln vs EGP 3.77bln year ago. Egypt’s Misr Fertilizers Production posted FY standalone net profit after tax EGP 1.14bln versus EGP 830.4mln year ago. FY standalone sales EGP 2.63bln versus EGP 2.41bln year ago. Egypt's Sidi Kerir Petrochemicals posted FY net profit after tax EGP 26mln vs EGP 487mln year ago. FY sales EGP 3.47bln vs EGP 4.96bln year ago. Egypt’s Alexandria Medical Services receives offer from Tawasol Holding to acquire 74.08% stake in company at EGP 38.09/share. (Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian Business)
5. # UAE Focus list Company MCAP PRICE (AEDm) (AED) HIGH - LOW 52WH 52WL VALUATION TTM P/E DIV HISTORICAL RETURN TTM P/B YLD (%)^ 1M% 3M% 6M% ADCB 45,849 6.59 7.70 3.82 12.05 0.81 4.1% 7.2 5.9 27.7 ADIB 17,470 4.81 5.74 3.19 13.23 0.91 5.7% (3.0) 4.1 26.6 (9.2) 2,953 5.18 5.24 2.95 7.96 1.18 6.8% 7.9 12.6 48.0 40.0 38.0 ADNIC ADNOC Dist 12M% (8.4) 49,375 3.95 3.99 2.40 20.30 14.20 5.2% 2.1 14.5 29.2 Agthia 3,895 5.41 5.59 2.50 109.45 1.74 2.8% 0.2 23.0 95.3 77.4 Air Arabia 5,927 1.27 1.61 0.87 NA 1.31 0.0% (7.3) 8.5 8.5 (12.5) Ajman Bank 1,583 0.75 0.88 0.50 57.38 0.63 0.0% 9.3 7.9 (11.5) Al Waha Capital 2,392 1.23 1.30 0.62 9.79 0.75 NA 12.8 11.8 30.2 38.2 Aldar Properties 28,148 3.58 3.88 1.35 14.57 1.10 4.1% 10.5 27.9 90.4 74.9 Amanat Holdings 2,010 0.80 0.92 0.56 136.73 0.81 2.7% (2.0) 1.8 (7.6) 2.6 344 0.23 0.46 0.20 NA 0.70 0.0% (12.9) (11.9) (32.4) (49.7) Aramex 6,003 4.10 4.49 2.00 16.65 2.35 4.0% (5.5) 3.0 7.3 23.0 Bank of Sharjah 1,315 0.63 0.82 0.50 NA 0.40 0.0% (0.8) 12.6 18.1 (21.8) DAMAC Properties 7,502 1.24 1.75 0.36 NA 0.57 NA (10.8) 10.7 47.8 90.5 Dana Gas 5,037 0.72 0.92 0.53 NA 0.64 7.6% 3.6 9.3 3.9 (15.0) Deyaar Development 1,618 0.28 0.35 0.18 44.16 0.36 0.0% (3.4) 1.4 (2.8) (16.7) Dubai Financial Market 8,240 1.03 1.29 0.50 59.74 1.06 0.0% (9.6) 20.6 23.9 22.2 Dubai Investment 6,548 1.54 1.72 0.98 10.62 0.55 NA (8.3) 31.6 30.5 25.0 Dubai Islamic Bank 34,249 4.73 5.75 3.04 12.45 0.84 4.2% (4.6) 11.6 19.1 (9.4) DXB Entertainments 600 0.08 0.20 0.07 NA 2.71 0.0% (8.5) (36.4) (37.5) (60.3) Easy Lease 735 24.50 24.50 10.00 29.91 15.47 NA Emaar Dev 11,120 2.78 3.96 1.79 5.59 1.02 0.0% (7.3) Emaar Malls 21,734 1.67 1.99 0.98 30.87 1.15 0.0% (12.1) Emaar Properties 26,849 3.75 4.22 1.90 6.40 0.47 0.0% (6.2) Emirates Integrated Tele 28,421 6.27 6.88 4.33 19.70 3.32 4.5% 8.1 13.0 21.7 9.1 Emirates NBD 73,904 11.70 13.10 6.33 11.70 0.87 3.4% 2.2 12.5 11.4 (3.3) Amlak Finance Eshraq Investments (5.9) 16.8 - - 13.0 26.4 (28.7) (4.6) 17.6 (1.8) 23.0 34.9 (3.8) - 698 0.30 0.46 0.16 NA 0.49 NA (6.5) (9.9) (30.1) (10.2) Etisalat 171,674 19.74 20.98 11.02 19.20 3.66 4.1% 11.1 15.0 17.6 28.2 First Abu Dhabi Bank 162,708 14.90 15.10 7.78 15.41 1.49 5.0% 6.4 15.3 33.0 6.3 2,380 0.66 0.89 0.45 13.05 0.65 2.6% (0.9) 17.5 12.1 (21.4) GFH Gulf Navigation Holding IHC Julphar 370 0.36 0.55 0.28 NA 0.70 0.0% (15.6) (13.2) (30.2) 84,696 46.50 47.96 12.96 28.05 10.83 NA 10.2 16.3 28.4 236.5 (20.2) 1,814 1.57 1.65 0.54 NA 1.65 0.0% 12.1 10.6 37.7 88.1 11,540 65.00 72.00 62.00 18.15 0.59 6.2% (6.9) (4.3) (4.4) (9.7) National Bank of Fujairah 9,536 4.98 4.98 4.98 NA NA 1.9% NA NA NA 3.3 Tabreed 7,359 2.71 2.95 1.67 13.61 1.42 2.1% 1.5 5.0 34.2 30.9 RAK Bank 6,537 3.90 4.85 3.33 9.45 0.85 3.8% (1.5) 9.9 10.8 (13.2) RAK Properties 1,180 0.59 0.64 0.33 10.85 0.31 6.8% 6.5 39.8 50.5 44.1 RAK Ceramics 1,729 1.74 1.84 1.24 19.69 0.81 4.3% 1.8 26.1 33.8 8.6 SALAMA 1,027 0.85 0.92 0.30 6.58 1.18 NA 0.5 10.4 42.7 58.6 Sharjah Islamic Bank 4,283 1.39 1.41 0.95 10.56 0.56 3.4% 4.5 17.8 19.8 15.9 SHUAA Capital 1,775 0.70 0.83 0.40 16.66 1.25 NA (6.5) 8.2 9.4 (15.7) Mashreqbank Takaful Emarat Insurance TAQA Union Properties 237 1.58 1.60 1.18 NA 1.90 5.2% (0.6) 4.6 8.2 19.7 156,284 1.39 1.78 0.50 101.29 2.51 1.8% (2.8) (0.4) (6.4) 93.7 1,171 0.27 0.39 0.15 4.06 0.38 0.0% (5.2) 5.8 (16.5) 28.8 0.81 NA 1.00 0.0% (4.9) (9.7) (9.7) United Arab Bank 1,664 0.81 0.90 Source: Bloomberg ^ Current dividend yield based on latest dividend declaration (9.9)
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