UAE: Daily Market Trading Report - 2 May

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1. IS Morning Report Wednesday , May 02, 2018 Global & Regional Benchmarks Indices Close UAE Trading Summary 1Day 1Mnth 3Mnth YTD 1Y (AEDm) Change Change Change Change Change SELL NET 2.6% ADX 115 115 - -3.4% -11.2% -10.1% -11.8% Local 75% 79% -3% 25% 21% 3% 42% 42% -1% 58% 58% 1% -2.5% 15.0% DFM 201 201 - -0.7% 11.0% Local 60% 62% -2% 40% 38% 2% ADX 4,673 0.1% DFM 3,031 -1.1% TASI 8,158 -0.6% 4.6% KWSEI 1,258 -0.4% -3.5% 18,296 0.0% Dow Jones 24,099 -0.3% 1.9% -5.6% EGX BUY 2.0% 1.3% 6.2% 6.6% 12.9% 16.3% Foreign -7.4% -5.5% -5.8% Institutional 4.0% 21.3% 21.8% 47.1% Retail S&P 500 2,655 0.3% 2.8% -3.9% Nasdaq 7,131 0.9% 3.8% -1.5% FTSE 100 7,520 0.1% 6.6% 1.0% -2.2% 3.7% Institutional 41% 43% -2% 12,612 0.2% 4.3% -3.0% -2.4% 1.4% Retail 59% 57% 2% 5,521 0.7% 6.8% 1.2% 3.9% 4.8% Total 316 316 - -1.4% 15.5% Local 66% 68% -3% 34% 32% 3% DAX CAC40 Nikkei225 22,457 -0.2% 5.0% -3.5% HIS 30,623 -0.6% 1.8% -6.2% 3.3% 17.0% Foreign 2.4% 24.4% Foreign Upcoming Corporate Actions & Events Date Company Event 6-May DIC Board Meeting 6-May SHUAA Board Meeting 9-May KHCB Board Meeting 13-May GFH Board Meeting Key Stories ADNIC posts Q1 AED95.2 million net profit vs. AED74m a year ago Marka First Quarter Loss 8 Mln Dirhams Mubadala Said to Pick BofA, Citi, MS, Santander for Cepsa IPO 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 Wednesday , May 02, 2018 GFH buys majority stake in The Entertainer Dar Al Arkan First Quarter Revenue Beats Highest Estimate Saudi government to hand over 25 schools to private sector Saudi's Al Rajhi Bank Q1 net profit up 7.3 pct Saudi Contractors Are Said to Still Struggle With Payment Delays S&P cuts Turkey's rating deeper into 'junk' Global Markets Wrap: Asian equities eased on Wednesday, while the dollar traded near a four-month high as investors await the Federal Reserve's upcoming policy statement for clues on the future pace of U.S. monetary tightening. Asian equities eased on Wednesday, while the dollar traded near a four-month high as investors await the Federal Reserve's upcoming policy statement for clues on the future pace of U.S. monetary tightening. Oil prices firmed slightly on Wednesday, supported by concerns that the United States may reimpose sanctions on major exporter Iran, although soaring U.S. supplies capped gains. Brent crude oil futures were at $73.23 per barrel at 0430 GMT, up 10 cents, or 0.1 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 30 cents, or 0.5 percent, at $67.55 per barrel. UAE: ADNIC posts Q1 AED95.2 million net profit vs. AED74m a year ago. . For the three-month period ending 31st March 2018, ADNIC's Gross Written Premium increased by 13 percent to AED 1.22 billion compared to AED1.08 billion for the same period in 2017. The overall premium retention ratio reached 52 percent for the threemonth period ended 31st March 2018 compared to 42 percent for the same period in 2017. Net underwriting profit increased by 18.3 percent to AED115.5 million, against a net underwriting profit of AED 97.6 million for the same period in 2017. Net technical profit increased by 32.8 percent to AED 61.5 million, against a net technical profit of AED 46.3 million for the same period in 2017. Total investments including cash in time deposits, bank accounts and investment properties stood at AED 3.29 billion as at 31st March 2018, compared to AED 3.39 billion as at December 31st 2017. Marka reported loss for the first quarter of 8 million dirhams. 1Q revenue 20.4 million dirhams. 1Q loss narrows from 27.8 million dirhams year ago. 1Q revenue drops from 33.3 million dirhams year ago. 1Q cost of sales 9.5 million dirhams vs 20 million. 1Q selling and distribution expenses 11 million dirhams vs 23 million. Mubadala Said to Pick BofA, Citi, MS, Santander for Cepsa IPO. The four banks have been appointed as global coordinators, people familiar with matter say. Transaction could be as early as Q4. Share sale could raise about EUR3b. Representatives for Mubadala and Morgan Stanley declined to comment; spokesmen for the other banks couldn’t immediately be reached. GFH Financial Group on Tuesday announced the signing of a landmark deal to acquire a majority stake in The Entertainer, the incentives provider and lifestyle app. GFH said in a statement that it has acquired 85 percent stake but did not give a value for the deal. Entertainer has total turnover of >AED130m and with a Y-o-Y growth of >30% GCC/ MENA: Dar Al Arkan reported revenue for the first quarter that beat the highest analyst estimate. 1Q revenue 2.79 billion riyals, estimate 478.5 million (Bloomberg data) (2 estimates). 1Q profit 331.1 million riyals. 1Q operating profit 436.5 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 Wednesday , May 02, 2018 million riyals. 1Q profit soars from 12.1 million riyals in year-ago period. 1Q revenue climbs from 360.3 million in year-ago period. Cites higher property sales; says increase in finance cost and the decrease in lease revenue partially off-set with the increase in non-operating income received from deposits Saudi Arabian authorities on Tuesday ordered the handover of 25 state-run schools to be run by private sector companies as part of economic reforms designed to ease pressure on the state’s finances. Riyadh announced last week that it aimed to generate 35 billion to 40 billion riyals ($9 billion to $11 billion) of non-oil state revenues from privatisations by 2020, and an official overseeing that process told Reuters that school buildings would feature in some of the first deals. Al Rajhi Bank 1120.SE, Saudi Arabia's second-largest lender by assets, reported a 7.3 percent rise in first-quarter net profit on Tuesday, marking the ninth quarter of earnings growth in a row. The bank made a net profit of 2.38 billion riyals ($634.63 million) in the three months to March 31, up from 2.2 billion riyals in the same period a year earlier, it said in a bourse statement. Some contractors in Saudi Arabia are still struggling to get paid on time by the government despite assurances from officials that the long-running problem has been resolved, potentially threatening a nascent economic recovery in the kingdom. While the Finance Ministry is honoring a pledge to pay the dues on time, many government departments are taking months to process the paperwork and send it to the ministry, according to four people with knowledge of the matter who asked not to be named because the issue is sensitive. In other cases, the delay is caused by a long backlog of payments that the government is gradually working through, two people said. In an unexpected move, Standard & Poor's cut its sovereign debt rating on Turkey further into junk territory on Tuesday, citing widening concern about the outlook for inflation amid a sell-off in the Turkish lira currency. S&P said the ratings decision, cutting Turkey to "BB-/B" from "BB/B," was not part of its regularly scheduled reviews, reflecting what it said were growing concerns. "The downgrade reflects our concerns over a deteriorating inflation outlook and the long-term depreciation and volatility of Turkey's exchange rate," S&P said in a statement. (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) DSI 16.35% 0.17 1,820,679 2,148,401 Dubai Isl. Ins 12.50% 0.15 338,625 232,297 ADCB 15.08% 0.11 5,718,054 40,369,464 RAK Properties 29.03% 0.09 1,800,000 1,206,000 Deyaar Dev 10.52% 0.07 4,044,600 1,896,917 DXBE 31.51% 0.05 3,999,956 1,523,983 Gulf Nav 19.94% 0.04 367,684 382,391 4.06% 0.04 60,000 108,000 21.99% 0.04 60,000 40,740 Takaful Ins Dar Al Takaful 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 Wednesday , May 02, 2018 Amlak Finance 20.56% 0.03 442,500 348,750 Daily Foreign Ownership Decrease Company Name Foreign Change Ownershp (%) (%) Shares Mcap Change Change (AED) Dana Gas 60.35% -0.08 (5,581,299) (5,413,860) Islamic Arab Ins. 23.20% -0.07 (833,212) (353,199) 0.79% -0.06 (1,050,000) (672,000) GGICO 19.34% -0.05 (895,667) (216,751) Eshraq 35.29% -0.05 (1,162,500) (837,000) Shuaa Capital 17.58% -0.04 (426,000) (455,820) Union Properties 24.23% -0.04 (1,715,816) (1,386,379) 4.35% -0.03 (90,000) (52,200) Gulf Cement 17.49% -0.03 (246,179) (266,035) Aramex 62.39% -0.02 (292,820) (1,171,280) Arkan Building Abu Dhabi Nat. C. BM (Source: ADX, DFM, Bloomberg, Reuters) 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 Wednesday , May 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