UAE: Daily Market Trading Report - 19 October

Transcription

1. Morning Report 19 October 2021 UAE Trading Summary Market Stats Indices Close Chg . 1M Chg. 3M Chg. YTD Chg. 1Y Chg. ADX DFM TASI BHSEASI EGX DJI S&P 500 Nasdaq FTSE DAX CAC40 Nikkei225 HIS 7,893 2,817 11,758 1,710 11,276 35,259 4,486 15,022 7,204 15,474 6,673 29,025 25,733 0.7% 0.5% -0.1% 0.1% 1.1% -0.1% 0.3% 0.8% -0.4% -0.7% -0.8% 0.6% 1.2% -1% -3% 3% 2% 3% 2% 1% 0% 3% 0% 2% -5% 2% 11% 2% 9% 8% 6% 2% 4% 4% 3% 0% 3% 4% -9% 55% 12% 35% 15% 4% 15% 19% 17% 12% 13% 20% 6% -7% 72% 28% 37% 16% 1% 23% 29% 29% 22% 20% 35% 24% 4% MSCI EM MSCI Asia 1,283 198 0.8% -0.1% 0% -2% -4% -3% -1% -1% 14% 14% US Fut. EU Fut. 4,477 4,147 0.1% 0.1% 0% -1% 4% 5% 19% 17% 31% 28% AEDm ADX Local Foreign Institutional Retail DFM Local Foreign Institutional Retail Total Local Foreign Buy 1,552 70% 30% 79% 21% 132 50% 50% 52% 48% 1,684 68% 32% Sell 1,552 79% 21% 78% 22% 132 59% 41% 51% 49% 1,684 77% 23% Last Trading Day's Top Short Sell Positions Company RAK Pro. FAB Etisalat Short Volume (Shrs.) Short Volume (% of total volume) Total Stock Volume (mShrs.) Total Stock Turnover (AEDm) (185,000) (165,056) (62,909) 1.5% 0.8% 2.0% 12.4 20.2 3.1 8.9 362.7 77.3 Upcoming Corporates Actions & Events Date Company Event 19-Oct 20-Oct 24-Oct 24-Oct 24-Oct 25-Oct 27-Oct 4-Nov 11-Nov ENBD DAMAC Alpha Dhabi ASM Zee Store Easy Lease FAB IHC GFH BoD/Results AGM/Delisting BoD/Results BoD/Results BoD/Results BoD/Results BoD/Results BoD/Results BoD/Results Net -9% 9% 1% -1% -9% 9% 0% 0% -9% 9%
2. # KEY STORIES DU posted quarterly profit AED 283.2mln vs AED 824.1mln.Quarterly revenue AED 2.87bln vs AED 2.69bln Fertiglobe Holding’s IPO is set to price at the top end of an initial range, raising as much as USD 830mln - according to terms seen by Bloomberg on Monday Abu Dhabi’s Al Dhara Holding will establish five new animal feed plants in Eastern Europe UAE on Oct 18 announced 104 new Covid-19 cases and 142 recoveries. The tally takes total cases in UAE to 738,690 with 732,438 recoveries and 2,120 deaths Saudi Arabia's crude oil exports rose in August to 6.450mln bpd in August, up from 6.327mln bpd in July Saudi’s Yansab posted quarterly net profit after zakat and tax SAR 179.8mln versus SAR 195.6mln year ago. Quarterly sales SAR 1,779.6mln versus SAR 1,440.7mln year ago Saudi Ceramic posted quarterly net profit after zakat and tax SAR 52.4mln versus SAR 32.5min year ago. Quarterly sales SAR 360.1mln versus SAR 373.1mln year ago Saudi Paper Manufacturing’s board recommends to increase the capital by offering right issues, targeting amount SAR 145mln Saudi’s Alamar Foods is considering an IPO that would allow The Carlyle Group sell some of its stake, three sources familiar with the matter said Qatar’s Ahli Bank posted nine-month net profit QAR 524.5mln versus QAR 500.8mln year ago Kuwait’s NBK posted quarterly net profit KWD 94.1mln versus KWD 57.6mln year ago. Quarterly total operating revenue KWD 228.5mln versus KWD 217.9mln dinars year ago Moody's Investors Service affirmed the deposit ratings of seven Omani banks and changed the outlook to stable from negative Egypt’s Faisal Islamic Bank posted nine-month standalone net profit EGP 1.68bln versus EGP 1.32bln year ago. Nine-month standalone revenue EGP 8.06bln versus EGP 6.90bln year ago Egypt’s Heliopolis board proposes 10 qirsh per share FY dividend Egypt’s Aspire Capital Holding for Financial Investments completes establishment of a financing company with issued capital of EGP 120mln # Key Global Trends/ Market Clues Asian shares advanced on Tuesday, supported by a tech-driven Wall Street rally, and a rebound in Chinese markets a day after weak data heightened investor concerns about the world's second-largest economy. The dollar was under pressure as weak U.S. factory data tempered expectations about any near-term interest rate increases. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.76% on Tuesday. It is up about 5% since its 12-month low hit on Oct. 5, largely in line with a similar rally in world shares following a strong opening to the U.S. earnings season. Chinese blue chips reversed early losses to rise 0.62% on Tuesday, a day they fell 1.1% when China reported gross domestic product growth slowed in the third quarter. There were also gains in Hong Kong up 1.21% Australia, up 0.2%, and South Korea,
3. 0 .63% higher. U.S. stock futures, the S&P 500 e-minis, gained 0.08%. Overnight, the S&P 500 gained 0.34% and the Nasdaq ended up 0.84% while the Dow edged 0.1% lower, hurt by weaker factory data. Oil prices fell on Tuesday, with Brent down a second straight day, after Chinese data showed slowing economic growth and U.S. factory output dropped in September, raising fresh concerns about demand amid patchy recovery from the coronavirus pandemic. Brent crude was down by 43 cents, or 0.5%, at USD 83.90 a barrel by 0132 GMT after falling 0.6% on Monday. The contract is still up nearly 7% this month. U.S. oil fell 33 cents, or 0.4%, to USD 82.11 a barrel, having risen 0.2% in the previous session and nearly 10% this month. Factory output in the United States dropped the most in seven months last month as a global shortage of semiconductors slowed auto production, further evidence that supply constraints are a strain on economic growth. In China, the world's second-biggest economy, bottlenecks also contributed to a decline in the growth rate to a one-year low as energy shortages and sporadic outbreaks of coronavirus hit the country. OPEC+ compliance with oil cuts fell slightly to 115% in September, sources said, indicating that as the alliance raises production targets, some members are still falling short as they face challenges in pumping more oil. # UAE Stories DU posted quarterly profit AED 283.2mln vs AED 824.1mln.Quarterly revenue AED 2.87bln vs AED 2.69bln. Fertiglobe Holding’s initial public offering is set to price at the top end of an initial range, raising as much as USD 830mln in what will be Abu Dhabi’s third-largest listing. ADNOC, and OCI NV, may sell shares in Fertiglobe at AED2.65 (USD 0.72) each, according to terms seen by Bloomberg on Monday. The initial range was set at AED 2.45 to AED 2.65 and attracted enough demand to cover the books at the top end on the first day. Al Dhara Holding, an Abu Dhabi-based agricultural company, will establish five new animal feed plants in Eastern Europe. The new plants will be established in Serbia, Romania and Bulgaria. The new facilities are part of the company’s efforts to expand its horizons and diversify its sources of production. UAE on Oct 18 announced 104 new Covid-19 cases, bringing the total confirmed cases in the country to 738,690. At the same time, 142 more patients have recovered from the virus, taking the tally of recoveries in the UAE to 732,438, UAE's Ministry of Health and Prevention said. It has reported no deaths from Covid19 during the past 24 hours. The nationwide death toll stands at 2,120. # GCC/MENA Saudi Arabia's crude oil exports rose in August for a fourth consecutive month to the highest since January 2021, the Joint Organisation Data Initiative (JODI) said on Monday. The kingdom's crude oil exports rose to 6.450mln barrels per day (bpd) in August, up from 6.327mln bpd in July. Total exports including oil products stood at 7.90mln bpd. Saudi’s Yanbu National Petrochemicals Company (Yansab) posted quarterly net profit after zakat and tax SAR 179.8mln versus SAR 195.6mln year ago. Quarterly sales SAR 1,779.6mln versus SAR 1,440.7mln year ago. Saudi Ceramic posted quarterly net profit after zakat and tax SAR 52.4mln versus SAR 32.5min year ago. Quarterly sales SAR 360.1mln versus SAR 373.1mln year ago. Saudi Paper Manufacturing’s board recommends to increase the capital by offering right issues, targeting amount SAR 145mln. Capital increase to support expansion activities and to increase operational capacity. Saudi’s Alamar Foods, the regional franchise operator for Domino's Pizza, is considering an initial public offering (IPO) that would allow The Carlyle Group sell some of its stake, three sources familiar with the matter said. Qatar’s Ahli Bank posted nine-month net profit QAR 524.5mln versus QAR 500.8mln year ago.
4. National Bank of Kuwait (NBK) posted quarterly attributable net profit KWD 94.1mln versus KWD 57.6mln year ago. Quarterly total operating revenue KWD 228.5mln versus KWD 217.9mln dinars year ago. Moody's Investors Service affirmed the deposit ratings of seven Omani banks and changed the outlook to stable from negative on Monday, saying the action reflected its expectation of continued improvements in the lenders’ operating environment. Moody's said it affirmed the long-term local and foreign currency deposit ratings of Bank Muscat, HSBC Bank Oman, Bank Dhofar, National Bank of Oman, Sohar International Bank, Oman Arab Bank and Bank Nizwa. Moody's also affirmed the Baseline Credit Assessments (BCAs) and Adjusted BCAs of the seven Omani banks. The rating agency highlighted the affirmation of the Omani government’s Ba3 issuer rating and change in outlook to stable from negative as a basis for its action on the banks. This, Moody’s said, reflects a large reduction in external vulnerability and government liquidity pressures, mainly as a result of significantly higher oil prices since the middle of 2020, and its expectation that oil prices will average above USD 60 a barrel during the next several years, increasing the likelihood that these pressures will remain contained. Egypt’s Faisal Islamic Bank posted nine-month standalone net profit after tax EGP 1.68bln versus EGP 1.32bln year ago. Nine-month standalone revenue EGP 8.06bln versus EGP 6.90bln year ago. Egypt’s Heliopolis Company for Housing and Development board proposes 10 qirsh per share FY dividend. Restates FY net profit after tax to EGP 180.2mln from EGP 190.9mi reported earlier. Egypt’s Aspire Capital Holding for Financial Investments completes establishment of a financing company with issued capital of EGP 120mln. Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian business
5. # UAE Focus list Company MCAP PRICE (AEDm) HIGH-LOW VALUATION Div. HISTORICAL RETURN (AED) 52WH 52WL PE PB (%)^ 1M% 3M% YTD% 12M% ADCB 57,193 8.22 8.36 5.56 11.69 1.00 3.3% 6.5 21.2 38.4 48.0 ADIB 20,740 5.71 5.82 4.17 11.17 1.06 3.6% (0.7) 6.5 26.6 40.0 ADNIC 3,027 5.31 5.93 3.75 7.04 1.16 6.6% 1.1 6.6 11.6 51.8 ADNOC Dist. 52,628 4.21 5.01 3.28 19.68 15.56 4.9% (2.4) 0.1 17.8 31.4 ADNOC Drill.* 46,563 2.91 3.07 2.77 23.15 4.48 5.1% NA NA NA NA Agthia 4,409 5.57 7.32 3.99 NM 1.64 3.0% (7.2) (8.0) 36.3 31.1 Air Arabia 6,254 1.34 1.45 1.07 NM 1.19 0.0% (3.6) (0.0) 4.7 20.7 Ajman Bank 1,428 0.68 0.83 0.64 20.09 0.55 0.0% (4.9) (7.6) (12.8) - 31,531 4.01 4.26 2.09 14.26 1.23 3.6% (4.5) 4.4 32.3 92.9 282,215 28.22 30.20 15.00 NA NA NA 4.9 14.6 NA NA Amanat 2,750 1.10 1.25 0.75 11.23 1.00 2.0% (3.5) 14.0 34.1 37.2 Aramex 5,491 3.75 4.49 3.50 29.82 2.09 3.5% 0.0 (1.8) (11.5) (8.8) ASM 14,581 14.58 16.94 13.00 NM 3.95 NA (5.6) NA NA NA BOS 1,188 0.54 0.73 0.48 NA 0.35 0.0% (2.4) (0.9) (10.2) 6.7 Dana Gas 7,275 1.04 1.15 0.64 12.94 0.91 5.3% (1.0) 25.5 56.0 57.5 Deyaar 1,681 0.29 0.34 0.25 NA 0.39 0.0% (11.6) (0.7) 3.6 2.8 DFM 8,000 1.00 1.29 0.81 NM 1.02 0.0% (6.5) (8.3) 7.5 22.0 DIC 7,314 1.72 1.90 1.11 16.45 0.62 NA (3.9) 1.8 24.7 58.6 DIB 36,351 5.02 5.19 4.00 15.21 0.98 4.0% (0.0) 5.5 13.7 25.7 DU 29,737 6.56 7.22 5.40 21.71 3.55 3.8% (0.5) (0.3) 18.2 23.6 Easy Lease 1,371 45.70 66.85 10.00 43.78 22.35 NA (2.6) 82.7 159.7 - Emaar Dev. 15,561 3.89 4.08 2.20 7.29 1.22 0.0% (3.0) 7.2 41.5 71.4 Emaar Malls 25,509 1.96 2.14 1.40 26.03 1.30 0.0% (6.7) 0.5 7.1 36.1 Emaar Pro. 28,354 3.96 4.29 2.55 13.06 0.51 2.5% (5.7) 0.5 15.1 52.8 ENBD 87,174 13.80 14.35 9.30 12.50 1.04 2.9% (3.2) 5.3 38.8 42.3 2,425 9.70 11.80 3.01 NM 6.98 NA 40.0 161.5 NA NA Aldar Alpha Dhabi ESG Eshraq 725 0.31 0.37 0.29 NA 0.54 NA (1.9) (9.6) (1.9) 2.0 Etisalat 218,474 25.12 25.80 16.64 23.72 4.64 4.8% 0.9 14.5 56.9 57.1 FAB 199,192 18.24 18.70 11.16 18.10 1.88 4.1% (2.5) 11.9 48.8 70.7 GFH IHC Julphar Mashreq 2,926 0.76 0.81 0.53 10.38 0.78 2.2% 3.4 (0.3) 31.5 39.5 267,702 147.00 152.80 38.00 56.88 16.79 NA 0.5 14.8 250.0 276.0 2,160 1.87 2.32 1.20 NA 2.27 NA (0.5) 3.9 40.6 25.5 6.6 12,872 72.50 72.50 60.00 NA 0.67 0.0% 5.1 20.4 6.8 Palms Sports 2,160 14.40 21.48 4.30 26.78 8.00 NA 7.5 16.3 9.1 NA RAK Bank 6,538 3.90 4.24 3.50 13.00 0.83 3.8% (2.5) (1.3) 0.0 11.4 RAK Pro. 1,420 0.71 0.76 0.38 6.87 0.35 5.6% 1.4 13.1 47.9 85.4 RAK Cer. 2,743 2.76 3.08 1.33 NM 1.23 2.7% (0.4) 25.4 99.2 121.4 RPM 2,808 14.04 20.00 10.10 NA NA NA NA NA NA NA Salama 908 0.75 0.97 0.70 6.10 1.16 11.0% (6.7) (7.4) (2.4) 11.2 SIB 5,701 1.85 1.89 1.15 12.84 0.75 4.3% 5.7 22.5 48.5 69.0 Shuaa 1,712 0.68 0.80 0.59 8.49 1.12 4.4% (3.4) (4.8) 4.0 16.0 Tabreed 7,185 2.59 3.15 2.18 13.59 1.36 2.2% (7.5) (7.8) 1.9 17.4 140,550 1.25 1.78 1.22 28.87 1.98 2.0% (2.3) (7.7) (11.8) (10.3) Union Pro. 1,158 0.27 0.32 0.23 2.94 0.40 0.0% (9.4) 12.0 (3.6) (6.9) Waha 3,423 1.76 1.96 0.98 6.19 1.02 3.4% (2.2) 23.9 54.3 78.0 Yahsat * 6,588 2.70 3.10 2.46 26.20 1.98 5.9% 8.4 NA NA NA Zee Store 4,046 40.46 53.00 7.95 NM 19.57 NA 4.8 325.9 (Source Bloomberg) ^ Current dividend yield based on latest dividend declaration. * Expected dividend 285.3 NA TAQA
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