UAE: Daily Market Trading Report - 2 April

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1. IS Morning Report Monday , April 02, 2018 Global & Regional Benchmarks Indices Close UAE Trading Summary 1Day 1Mnth 3Mnth YTD 1Y (AEDm) Change Change Change Change Change ADX 4,584 0.0% -0.3% 3.2% DFM 3,136 0.9% -3.3% -8.1% TASI 7,801 -0.9% 5.2% 8.8% KWSEI 6,633 0.5% -2.6% 5.1% SELL NET 3.0% ADX 124 124 - -6.9% -10.2% Local 83% 79% 4% 8.0% 11.6% Foreign 17% 21% -4% 3.5% 57% 54% 2% 0.8% 13.9% 17.1% 17.2% 36.3% Retail 43% 46% -2% Dow Jones 24,103 1.1% -3.7% -2.5% -2.5% 16.3% DFM 218 228 - S&P 500 2,641 1.4% -2.7% -1.2% -1.2% 11.5% Local 75% 68% 7% Nasdaq 7,063 1.6% -2.9% 2.3% 25% 32% -7% FTSE 100 7,057 0.2% -2.4% -8.2% -8.2% -4.2% Institutional 62% 63% -2% 12,097 1.3% -2.7% -6.4% -6.4% -1.3% Retail 38% 37% 2% 5,167 0.7% -2.9% -2.7% -2.7% 1.5% Total 342 352 - Nikkei225 21,561 0.5% 1.8% -5.3% -5.3% 14.0% Local 78% 72% 6% HIS 30,093 0.2% -2.4% 0.6% 53% 56% -3% EGX DAX CAC40 17,596 4.2% BUY -5.5% Institutional 2.3% 19.4% Foreign 0.6% 23.8% Foreign Upcoming Corporate Actions & Events Date Company Event 2-Apr Amanat Board Meeting 2-Apr Amlak Board Meeting 9-Apr UAB Board meeting 11-Apr Dana Gas Annual General Assembly Meeting 16-Apr Arabtec General Assembly 19-Apr AMAN General Assembly 22-Apr Eshraq Properties Annual General Assembly Key Stories Aldar Awards 1.3 Bln Dirhams Main Contract For Water’s Edge Damac Properties Is Said to Hire Barclays, HSBC for Sukuk 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 , April 02, 2018 Gulf General Investment Company in talks to restructure debt HSBC Seeking to Boost Retail Banking in U.A.E. Kingdom of Saudi Arabia closes US$16bn loan Saudis to list riyal government bonds on exchange next Sunday Dar Al Arkan Sees a Difficult 2018 as Expats Seen Leaving Saudi Said to Plan Hiring Consultancy For Each Ministry Saudi Arabia's real estate developer Jabal Omar reported annual net loss of 601 million riyals ($160.2 million) compared to 76.7 million riyal profit in previous year Bahrain discovers largest oilfield in decades Yields fall on Egypt's three- and nine-month T-bills after rate cut EFG Hermes Board Approves Capital Increase to EGP 3.84 billion from EGP 3.07 billion through issuing 1 bonus share for every 4 shares Iraq cabinet approves raising crude oil output capacity Global Markets Wrap: Asian stocks began the new quarter on Monday with mild gains following a strong performance by global equities last week, while the dollar held steady ahead of key economic indicators. While fears of an all-out global trade war that gripped the financial markets last month have abated somewhat, tensions between the United States and China over tit-for-tat tariffs kept investors on edge. China on Monday imposed extra tariffs on U.S. products including frozen pork, wine and certain fruits and nuts in response to U.S. duties on imports of aluminium and steel. Oil prices rose on Monday, lifted by a drop in U.S. drilling activity as well as by expectations that the United States could re-introduce sanctions against Iran. U.S. drillers cut seven oil rigs in the week to March 29, bringing the total count down to 797. It was the first time in three weeks that the rig-count fell. WTI crude futures were at $65.21 barrel at 0122 GMT, up 27 cents, or 0.4 percent, from their previous settlement. Brent crude futures were fetching $69.71 per barrel, up 37 cents, or 0.55 percent. Shanghai September crude futures were at 415.6 yuan ($66.26) per barrel, up 0.9 percent. 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 , April 02, 2018 Money managers’ bets that WTI crude will rise reached their highest in seven weeks as the benchmark headed for a third straight quarterly gain, the longest streak since 2011. Yet, oil’s rebound in March merely recovered losses from February and prices have remained stubbornly below the $66.66 attained in the first month of the year. UAE: Aldar Awards 1.3 Bln Dirhams main contract for Water’S Edge. Aldar has appointed Trojan General Contracting llc as the main contractor for water’s edge. Damac Properties Is Said to Hire Barclays, HSBC for Sukuk. Developer of Trump-branded golf course in U.A.E. mandates Barclays, HSBC among others to sell benchmark-sized Islamic bonds, people with knowledge of plan say. Aims to issue sukuk as soon as this month. More banks expected to be added to arrangers list Gulf General Investment Company is in talks with lenders to restructure loan and credit facilities after defaulting on a payment linked to 2.15 billion dirhams ($585.5 million) of debt at the end of last year, the Sharjah-based firm said on Sunday. HSBC Seeking to Boost Retail Banking in U.A.E.. Plans to grow retail lending and wealth management as its market share grows in in U.A.E., Gulf News reports, citing an interview with Marwan Hadi, head of retail banking and wealth management in the country. 1Q customer numbers "much more favorable than last year". Seeing more than 10% growth in new bank customers. Mortgages, personal loans, credit loans had double-digit growth so far this year. Looking to add more retail customers through “corporate employee programs”. In the process of hiring more relationship managers. GCC/ MENA: The Kingdom of Saudi Arabia has closed an increased US$16bn syndicated loan that refinances a US$10bn facility signed in 2016, according to banking sources. The deal, which closed on March 19, comprises a US$8.35bn term loan and a US$7.65bn murabaha financing. Saudi Arabia authorities said on Sunday they would list local currency government bonds on the Saudi Stock Exchange on April 8, part of efforts to spur secondary market trading of debt and strengthen state finances. The Capital Market 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 , April 02, 2018 Authority said over 204.4 billion riyals ($54.5 billion) of riyal bonds with maturities of five, seven and 10 years would be available to trade, including floating- and fixed-rate bonds and Islamic instruments. Dar Al Arkan Sees a Difficult 2018 as Expats Seen Leaving. Expected expat departures at end of academic year will lead to "a lot of vacancy" in property market, Dar Al Arkan Chairman Yousuf Bin Abdullah Al Shelash tells CNBC Arabia. Pressure on market to be more than in previous period. Says co.’s position is “good;” better in 2018 than in 2017. Says expats leaving due to rising costs. Sees IPO of property unit at end of 2Q or in 3Q. Saudi Arabia is planning to issue tenders to consolidate consultancy services for government infrastructure projects in coming months, Reuters reports, citing government sources. Kingdom will hire consultancy at each ministry or state entity to supervise pipeline of projects worth billions of dollars, according to report. Saudi Arabia's real estate developer Jabal Omar reported annual net loss of 601 million riyals ($160.2 million) compared to 76.7 million riyal profit in previous year. The company cited weak revenue from sales of residential units due to delays in obtaining marketing permits, and higher administrative and general expenses as it developed operations. Bahrain said on Sunday it had discovered the country's largest oilfield in decades, located off the west coast of the kingdom, according to state news agency BNA. The new tight oil and deep gas resource is expected to contain many times the amount of oil produced by Bahrain's existing oilfields, as well as large amounts of gas, BNA reported. The oil discovery is the kingdom's largest since 1932, BNA said. It did not give any details on the oil reserves discovered. Average yields on Egypt's three- and nine-month treasury bills fell at an auction on Sunday, central bank data showed, the first debt sale since the bank cut its key rates by 100 basis points last week. Yields on the 91-day bills fell to 17.63 percent from 17.99 percent at the last similar sale a week earlier, and yields on 273-day bills decreased to 16.88 percent from 17.33 percent. Egypt's central bank last week cut its key interest rates by 100 basis points for the second meeting in a row as inflation continues to ease, lowering its overnight deposit rate to 16.75 percent and overnight lending rate to 17.75 percent. EFG Hermes Board Approves Capital Increase to EGP 3.84 billion from EGP 3.07 billion through issuing 1 bonus share for every 4 shares The Iraqi cabinet on Sunday approved a plan to raise the nation's crude oil output capacity to 6.5 million barrels per day by 2022, according to a government statement. Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian Business) 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
5. IS Morning Report Monday , April 02, 2018 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