UAE: Daily Market Trading Report - 19 April

Transcription

1. IS Morning Report Thursday , April 19, 2018 Global & Regional Benchmarks Indices Close UAE Trading Summary 1Day 1Mnth 3Mnth YTD 1Y (AEDm) Change Change Change Change Change 1.2% 97 -8.4% -11.9% Local 43% 50% -7% 57% 50% 7% 64% 48% 16% 36% 52% -16% 0.1% 21.3% DFM 255 255 - -0.5% DFM 3,088 -1.4% TASI 8,146 0.6% 5.6% 6.4% KWSEI 6,633 0.5% -1.4% 17,706 -0.5% 3.1% 14.9% 17.9% 37.3% Retail Dow Jones 24,748 -0.2% 0.6% -5.1% 8.1% 12.7% 17.2% Foreign -0.1% NET 97 4,682 -3.0% -12.6% SELL 3.3% ADX ADX EGX 3.1% BUY 3.5% -2.3% Institutional - S&P 500 2,709 0.1% -0.2% -3.6% 1.3% 15.8% Local 54% 49% 5% Nasdaq 7,295 0.2% -0.7% -0.6% 5.7% 24.4% Foreign 46% 51% -5% FTSE 100 7,317 1.3% 3.9% -5.3% -4.8% 2.9% Institutional 40% 47% -7% 12,591 0.0% 3.1% -6.3% -2.5% 4.8% Retail 60% 53% 7% 5,380 0.5% 3.0% -2.6% 1.3% 7.5% Total 352 352 - Nikkei225 22,262 0.5% 3.6% -6.5% -2.2% 20.8% Local 51% 49% 2% HIS 30,672 1.3% -2.7% -4.9% 49% 51% -2% DAX CAC40 2.5% 28.7% Foreign Upcoming Corporate Actions & Events Date Company Event 19-Apr AMAN General Assembly 22-Apr Eshraq Properties Annual General Assembly 22-Apr Emaar Properties Annual General Assembly 22-Apr Amanat Annual General Assembly 22-Apr Damac Annual General Assembly 23- April DSI Annual General Assembly Meeting (AGM) 23-Apr Emaar Malls Annual General Assembly 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 23-April Thursday , April 19, 2018 ADIB Board Meeting Key Stories UAE court says Dana Gas can distribute dividends, contradicts UK court Dubai Islamic Bank Plans to Raise $1.4 Billion From Rights Issue DIFC launches new drive to attract Asian investment Bloom Holding eyes IPO amid plans for Dh5bn Abu Dhabi mega-project Abu Dhabi launches rental index to boost transparency Dubai March inflation continues to fall back to 1.8%on soft housing costs UAE business loan demand rising, personal loan demand weak -c.bank survey Hyperloop, Aldar Properties Sign Deal for UAE Hyperloop System OPEC's new price hawk Saudi Arabia seeks oil as high as $100 – sources Saudi Arabia crude exports rise to 7.3 mln bpd in Feb Saudi Arabia may raise $35bn through privatisation efforts in next five years Omantel Issues $1.5 Bln Bonds In Two Tranches Egypt's Pioneers Holding to increase capital by 30 pct Global Markets Wrap: USD/CNH is pulling the dollar lower across the G-10 space. Hong Kong traders are expecting tight funding conditions over the April month-end, which will include a four-day weekend in China. The key downside level for USD/CNH stop-losses is the 6.2361 low on March 27. Iran’s central bank will dump the dollar and “manage” its local currency using primarily the euro, a state-run news agency reported, amid a deepening confrontation with the U.S. For the fifth straight month, OPEC in March set a fresh record for complying with its agreed oil-production cuts, with the goal of re-balancing the market finally in sight. A parallel effort from 10 non-OPEC nations also improved even as the group’s biggest producer, Russia, boosted crude output slightly. Brent crude oil futures gain 0.69 pct to $73.99/bbl, highest since November 2014. Resource stocks were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014 and ignited a rally across commodities, though the potential boost to inflation globally also put some pressure on fixed-income assets. UAE: A court in the United Arab Emirates has ruled that local energy firm Dana Gas can distribute dividends to its shareholders, contradicting an earlier decision by a British court, according to court documents published on Wednesday. The ruling is the latest move in a legal battle in the UAE and Britain which began last year, when Dana 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 Thursday , April 19, 2018 halted payments on its $700 million of Islamic bonds. The company argues the sukuk have become unlawful because of changes in Islamic finance; holders of the sukuk contest that and are demanding to be paid. Dubai Islamic Bank PJSC aims to raise 5.12 billion dirhams ($1.4 billion) via a rights issue as the biggest Shariahcompliant lender in the United Arab Emirates seeks capital to support growth. The bank will sell 1.647 billion shares at 3.11 dirhams each, a 45 percent discount to Tuesday’s closing price, Chief Executive Officer Adnan Chilwansaid during a conference call Wednesday. The money is “required to sustain organic growth” and not to support acquisitions or an erosion in capital, he said. Dubai International Financial Centre (DIFC) has announced three new strategic initiatives as part of plans to cement its global status as a competitive business destination. DIFC’s three initiatives focus on attracting foreign direct investment (FDI), particularly from south-east Asia, enabling Dubai Government entities to complete financial services within DIFC, and facilitating the provision of financial products through Dubai. Abu Dhabi-based private real estate developer Bloom Holding is eyeing an initial public offering (IPO) next year or in 2020, in part to finance its biggest project to date – a Dh5 billion ($1.3bn) mixed-use community near Abu Dhabi International Airport. “We have a giant plot of land next to Abu Dhabi Airport that we are in the master-planning phase for and recently received the green light from the municipality to proceed. Hopefully we’ll be able to launch it early next year,” Sameh Muhtadi, chief executive of Bloom Holding, told The National at the Cityscape conference in Abu Dhabi this week. “This is a very long term project for us, but it’s going to be our biggest undertaking to date.” Abu Dhabi’s Department of Urban Planning and Municipalities launched the emirate’s first real estate rental index, compiling rental values from across 100 areas of the capital, as part of the government plans to increase transparency in the property market and attract investors. The online portal, Ejarat Abu Dhabi, “will enable developers and investors to get easy access to a huge array of valuable information about the rental market”, the department said in a statement on Wednesday during the Cityscape exhibition in Abu Dhabi. The index is only intended for real estate developers at present, but the department plans to open the index to the public at a later date. Dubai March inflation continues to fall back to 1.8% on soft housing costs. Housing and utility costs fell 1.5 percent from a year earlier in March; residential rentals were exempt from the tax. Food and beverage prices rose 5.4 percent while transport prices increased 6.6 percent after a hike in gasoline prices. UAE business loan demand rising, personal loan demand weak -c.bank survey. Demand for business loans rose moderately across the board in the January-March quarter, with the exception of the emirate of Abu Dhabi, and is expected to increase further in the current quarter, a central bank survey showed on Wednesday. Hyperloop Transportation Technologies and Aldar Properties sign deal for the world’s first commercial Hyperloop system of 10km in critical development area between Abu Dhabi and Dubai. The construction site is located in Aldar’s Seih Al Sdeirah landbank in Abu Dhabi and in close proximity to the residential development Alghadeer GCC/ MENA: Top oil exporter Saudi Arabia would be happy to see crude rise to $80 or even $100 a barrel, three industry sources said, a sign Riyadh will seek no changes to an OPEC supply-cutting deal even though the agreement's original target is within sight. The Organization of the Petroleum Exporting Countries, Russia and several other producers began to reduce supply in January 2017 in an attempt to erase a glut. They have extended the pact until December 2018 and meet in June to review policy. Saudi Arabia's crude oil exports in Feb rose to 7.251 million barrels per day from 7.170 million bpd in Jan, official data showed on Wednesday. Monthly export figures are provided by Riyadh and other members of the Organization of the Petroleum Exporting Countries (OPEC) to the Joint Organizations Data Initiative (JODI), which published them on its website. 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 Thursday , April 19, 2018 Saudi Arabia could raise as much as $35 billion over the next five years by privatising some of the state-controlled assets, as part of the country's national transformation plan and Vision 2030 that seeks to reduce its reliance on oil, according to Japan’s MUFG Bank. “What stands out is Saudi Arabia’s privatisation programme …. because not only are you raising non-oil revenue but you are also enticing the private sector to work," Ehsan Khoman, the head of research for the Middle East and North Africa at MUFG, the world’s fifth-biggest bank by assets, said at a media briefing on Wednesday. Omantel Issues $1.5 Bln Bonds In Two Tranches. Issues bonds worth $1.5 billion in two tranches. First tranche for $600 million maturing in 2023 (5.5 years) yielding an interest rate of 5.625% per annum. Second tranche for $900 million maturing 2028 (10 years) yielding an interest rate of 6.625% per annum. Proceeds of bonds will be used to repay bridge loan facility taken for investment of omantel in zain Kuwait. Pioneers Holding, one of Egypt's largest financial services firms, aims to increase its capital by 30 percent or 1.08 billion Egyptian pounds ($61.23 million), CEO Walid Zaki said on Wednesday. The company's capital is currently 3.6 billion Egyptian pounds ($204 million) and is distributed over 708.4 million shares at a nominal value of five pounds per share. (Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian Business) Daily Foreign Ownership Increase Company Name Foreign Change Ownershp (%) (%) Shares Mcap Change Change (AED) Dana Gas 60.55% 0.11 7,674,286 7,366,913 Manazel 20.03% 0.09 2,340,000 1,286,930 Islamic Arab Ins. 23.55% 0.06 714,181 299,822 Dar Al Takaful 21.88% 0.05 75,000 50,247 Arabtec 18.29% 0.04 600,000 1,307,929 Sudatel 80.06% 0.04 484,271 246,965 Aldar 25.75% 0.03 2,358,789 4,976,774 Arkan Building 0.85% 0.03 525,000 325,482 Emaar Properties 37.02% 0.01 715,974 4,037,873 Ajman Bank 10.78% 0.01 168,032 168,023 Daily Foreign Ownership Decrease Company Name Foreign Change Ownershp (%) (%) Dubai Investments 15.51% -0.07 (2,976,414) (6,131,078) Dubai Isl. Ins 12.48% -0.05 (112,875) (78,895) Integrated Securities (Regulated by the Securities & Commodity Authority) Al Bateen Towers, C2 P.O.Box 107077, Abu Dhabi, UAE Shares Mcap Change Change (AED) 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 Thursday , April 19, 2018 Shuaa Capital 17.48% -0.05 (532,500) (532,471) Deyaar Dev 10.65% -0.03 (1,733,400) (809,454) DAMAC Properties 41.30% -0.03 (1,815,000) (5,426,554) DSI 16.11% -0.02 (214,198) (366,258) Eshraq 35.44% -0.02 (465,000) (339,432) Gulf Nav 20.10% -0.02 (183,842) (193,023) GGICO 19.39% -0.02 (358,267) (96,727) DXBE 31.73% -0.02 (1,599,983) (708,754) (Source: ADX, DFM, Bloomberg, Reuters) 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