UAE: Daily Market Trading Report - 19 February

Transcription

1. IS Morning Report Monday , February 19, 2018 Global & Regional Benchmarks Indices Close UAE Trading Summary 1Day 1Mnth 3Mnth YTD 1Y Change Change Change Change Change BUY (AEDm) SELL NET ADX 4,582 0.1% -0.9% 7.1% 4.2% -0.8% ADX 99 99 DFM 3,292 -1.2% -6.8% -3.8% -2.3% -9.7% Local 71% 57% 14% TASI 7,508 0.0% -0.4% 9.3% 3.9% 5.2% Foreign 29% 43% -14% KWSEI 6,721 -0.6% 1.2% 7.3% 4.9% -1.0% Institutional 66% 62% 3% 15,046 0.5% -2.4% 9.5% 0.2% 19.9% Retail 34% 38% -3% Dow Jones 25,219 0.1% -3.3% 8.0% 2.0% 22.3% DFM 256 256 - S&P 500 2,732 0.0% -2.8% 5.9% 2.2% 16.2% Local 67% 54% 13% Nasdaq 7,239 -0.2% -1.3% 6.7% 4.9% 24.0% Foreign 33% 46% -13% FTSE 100 7,295 0.8% -5.6% -1.2% -5.1% -0.1% Institutional 41% 42% -1% 12,452 0.9% -7.3% -4.2% -3.6% 5.9% Retail 59% 58% 1% 5,282 1.1% -4.4% -0.7% -0.6% 8.5% Total 355 355 - Nikkei225 22,062 1.6% -7.3% -1.5% -3.1% 14.7% Local 68% 55% 13% HIS 31,115 2.0% -2.5% 7.2% 4.0% 29.1% Foreign 32% 45% -13% EGX DAX CAC40 - Upcoming Corporate Actions & Events Date Company Event 20-Feb Etisalat Board Meeting 20-Feb Agility Board Meeting 21-Feb Tabreed Board Meeting 25-Feb Arkan Build Mat Board Meeting 07-March Gulf Medical Projects AGM Key Stories Abu Dhabi Awards Oil Field Stake to Cepsa for $1.5 Billion Emirates REIT 2017 Net Income Climbs 9% on Rental Income WAHA CAPITAL board proposes 15 Fils/SHR DIV for 2017. GFH says Vice Chairman Ahmed Khalil Al Mutawa resigns. 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 Monday , February 19, 2018 Dubai's Nakheel inks deal to build Deira Mall. Agthia Plans at Least Acquisition This Year. Nasdaq Dubai launches Abu Dhabi, Dubai equity index futures. NAEEM gets Egypt regulatory approval to list on DFM Lootah Group to Seek Pakistan License for 50mw Wind Project Careem acquires Middle East online restaurant listing platform, to trial food delivery Saudi Arabia’s Al Rajhi Bank Proposes Higher Half-Year Dividend MSCI Says Saudi Would Have Potential Weight of 2.3% in EM Index Kuwait’s Government looks to private sector in healthcare reform. In boost to reform, Saudi Arabia's cabinet approves bankruptcy law. Oman Gas working with banks on $1 bln bridge loan. Egypt Targeting Issuing $3B-$4B in Intl Bonds in 2018-19. Nasdaq Dubai In Talks With Egyptian Cos for Cross Listing: CEO Talaat Moustafa in Talks With Govt for East Cairo Plot: Global Markets Wrap: Asian shares gained on Monday, joining a global recovery for equity markets as sentiment improved gradually from a recent shakeout that stemmed from fears of creeping inflation and higher borrowing costs. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5 percent, having recovered more than 40 percent of their losses from late last month to last week's low. Oil prices extended gains to hit their highest level in nearly two weeks on Monday, buoyed as Asian shares joined a global recovery in equity markets and by worries over tensions in the Middle East. U.S. West Texas Intermediate crude for March delivery was up 74 cents, or 1.2 percent, at $62.42 a barrel by 0217 GMT, after earlier touching its highest since Feb. 7. London Brent crude LCOc1 was up 46 cents, or 0.7 percent, at $65.30, after rising more than 3 percent last week. The U.S. oil rig count, an indicator of future production, rose by seven to 798, its highest since April 2015, according to a weekly report from General Electric's Baker Hughes unit. China said proposed U.S. tariffs on imported steel and aluminum products are groundless and that it reserves the right to retaliate if they are imposed. UAE: Abu Dhabi awarded a second slice of its offshore oil concessions in as many weeks, this time to Spanish refiner and producer Cia Espanola de Petroleos SA for a $1.5 billion fee. Government-owned Abu Dhabi National Oil Co. awarded Madrid-based Cepsa a 20 percent stake in development rights for the Sateh Al 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 Monday , February 19, 2018 Razboot and Umm Lulu fields in the Persian Gulf, Adnoc said Sunday. Abu Dhabi’s Mubadala Investment Co. owns Cepsa. Emirates REIT 2017 Net Income Climbs 9% on Rental Income, Full-year net income $52.2m on optimisation of portfolio and operating expenses as well as rental income, Dubai-based real estate investment trust says in statement. Rental income rose 19% to $53.9m, Portfolio value reached $860m, rising 14.2% y/y, Total occupancy reached 84.5% as of Dec. 31. Property operating income increased to $46.7m. WAHA CAPITAL board proposes 15 Fils/SHR DIV for 2017. GFH says Vice Chairman Ahmed Khalil Al Mutawa resigns. Dubai's Nakheel inks deal to build Deira Mall, Nakheel signed a contract for the construction of Deira Mall for Dh4.2 billion. United Engineering Construction will build the mall, the UAE's largest in terms of leasable space. Construction will begin in Q1 this year and be complete in 2021. Agthia Plans at Least Acquisition This Year, The Abu Dhabi-based food and beverage company has funding available for deals with "strong focus" on expansion in Saudi Arabia, CEO Tariq Al Wahedi tells Khaleej Times. Targeting $1b in revenue by 2020 through expansion in Saudi Arabia and new products. Made 150m dirhams revenue in Saudi Arabia last year, expects 300%-400% growth in kingdom over next 3 years. “We are investing heavily in Saudi Arabia. In the next three years, most of our investment and expansion growth will be coming from Saudi Arabia”. Nasdaq Dubai launches Abu Dhabi, Dubai equity index futures, The Nasdaq Dubai exchange launched equity index futures on Sunday for the main indexes of Dubai Financial Market and the Abu Dhabi Securities Exchange, a top official said. The new instruments could help to attract fresh money to the exchanges by giving investors more opportunity to hedge. Nasdaq Dubai began trading single-stock futures for shares in some of the United Arab Emirates’ biggest companies in late 2016. NAEEM gets Egypt regulatory approval to list on DFM Lootah Group to Seek Pakistan License for 50mw Wind Project. Dubai-based company is seeking approval from regulator to build a wind power project in Jhimpir of Thatta district in southern Sindh province, according to a statement by Lootah Energy posted on Pakistan’s National Electric Power Regulatory Authority website. * To finance 25% of $110m estimated cost * Lootah is in talks with Siemens Gamesa Wind and Orient Energy System for designing, constructing and maintenance of the project * Careem, a Middle East competitor to Uber Technologies UBER.UL, said on Sunday it had acquired RoundMenu and would start trialing food delivery services through the restaurant listing and reservation online platform this month. The Dubai-based ride hailing firm acquired the website and app for an undisclosed sum. RoundMenu has raised $3.1 million in funding since it launched in 2012, the Careem statement said. GCC: Saudi Arabia would have 32 members under emerging markets classification, and a free float‐adjusted market capitalization of $124.1b, which could increase with the Saudi Aramco IPO, according to an updated consultation document posted on MSCI’s website. Saudi Arabia would be 3rd largest EM EMEA 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 Monday , February 19, 2018 member after South Africa (6.7%) and Russia (3.4%). MSCI proposed last year to reclassify the MSCI Saudi Arabia Index from standalone to emerging markets status; decision to be announced in June. Potential reclassification would happen in two steps: May 2019 and Aug. 2019. The MSCI Saudi Arabia Small Cap Index would have 42 constituents under emerging markets, with a free float‐adjusted market capitalization of $16.7b Saudi Arabia’s Al Rajhi Bank Proposes Higher Half-Year Dividend. Board proposes 2.5 riyals/share dividend for the second-half of last year, the Riyadh-based bank says in a statement. * NOTE: Paid 1.5 riyals/share for 1H 2017, same for 2H 2016: Kuwait’s Government looks to private sector in healthcare reform, The sharp decline in oil prices since mid-2014 and Kuwait's first budget deficit in 16 years in the 2015/16 fiscal year (April-March) have added urgency to government efforts to reform healthcare spending. Progress has been made in terms of a new public-private partnership (PPP) law that received parliamentary approval in 2014 and came into full effect in 2015, and the government has targeted KD6bn (US$19.9bn) in PPP projects to expand private-sector participation in the overall projects market. However, attempts to scale back healthcare benefits to Kuwaiti citizens are likely to be strongly opposed in parliament. In boost to reform, Saudi Arabia's cabinet approves bankruptcy law, Saudi Arabia’s cabinet has approved a bankruptcy law, sources familiar with the matter said on Sunday, giving a boost to efforts to make the kingdom more enticing to investors. Modern bankruptcy legislation does not currently exist in Saudi Arabia, creating difficulties for struggling companies seeking to restructure debt with creditors since the 2009 global financial crisis and, more recently, the dip in oil prices. Oman Gas working with banks on $1 bln bridge loan. Egypt: Egypt Targeting Issuing $3B-$4B in Intl Bonds in 2018-19. Government has yet to decide on banks for planned euro-denominated bonds, Deputy Finance Minister Ahmed Kouchouk says in comments aired on Arabiya television. Asian market is very important and has a lot of surpluses. In ‘the coming period, our main target will be to communicate with investors in Asia and look into the possibility” of selling bonds. Government is targeting the sale of more local bonds instead of Treasury bills. Nasdaq Dubai CEO Hamed Ali says he is "positive" on Egyptian market and is holding discussions with Egyptian companies on listing on Nasdaq Dubai or dual-listing. Expect good activity in terms of IPOs this year on Nasdaq Dubai. Working on a number of derivative products. Talaat Moustafa in Talks With Govt for East Cairo Plot: Mal. Developer seeking to acquire 5,000 feddan plot east of Cairo, the Cairo-based newspaper reports citing an unidentified housing ministry official. Govt wants to give TMG 1,000 feddans (Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian Business) Daily Foreign Ownership Increase Company Name Foreign Change Ownershp (%) (%) 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 Monday , February 19, 2018 Marka 14.72% 0.21 1,050,000 536,550 Shuaa Capital 17.80% 0.11 1,171,500 1,206,645 Amlak Finance 20.78% 0.03 450,000 414,000 Aramex 62.09% 0.03 439,230 2,086,343 RAK White Cement 18.50% 0.02 100,031 102,032 Union Properties 18.87% 0.02 857,908 754,959 7.65% 0.02 1,599,153 1,696,000 10.82% 0.01 168,032 179,795 2.03% 0.01 67,289 25,380 18.48% 0.01 150,000 370,500 DFM Ajman Bank IFA Arabtec Daily Foreign Ownership Decrease Company Name Foreign Change Ownershp (%) (%) Shares Mcap Change Change (AED) Dar Al Takaful 21.69% -0.33 (495,000) (336,600) Eshraq 36.37% -0.12 (2,790,000) (1,953,000) DSI 16.96% -0.09 (963,889) (1,783,195) Methaq Takaful Ins. 23.83% -0.09 (135,000) (112,050) Gulf Nav 30.64% -0.07 (700,000) (707,000) Air Arabia 23.77% -0.06 (2,800,020) (3,640,026) DXBE 31.58% -0.05 (3,999,956) (2,215,976) Emaar Properties 37.50% -0.03 (2,147,922) (13,037,885) RAK Properties 30.01% -0.03 (600,000) (474,000) GGICO 19.43% -0.03 (537,400) (187,553) (Source: ADX, DFM, Bloomberg, Reuters) (Source: ADX, DFM, Bloomberg, Reuters) Institutional Sales and Trading Team 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 Monday , February 19, 2018 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