UAE: Daily Market Trading Report - 20 March

Transcription

1. IS Morning Report Tuesday , March 20, 2018 Global & Regional Benchmarks Indices Close UAE Trading Summary 1Day 1Mnth 3Mnth YTD 1Y Change Change Change Change Change BUY (AEDm) SELL NET ADX 4,543 0.2% -0.8% 4.2% 3.3% 1.9% ADX 71 71 DFM 3,183 -0.3% -2.7% -5.5% -5.5% -8.5% Local 55% 53% 2% TASI 7,711 -0.2% 2.7% 6.9% 6.7% 11.4% Foreign 45% 47% -2% KWSEI 6,725 -0.5% 0.7% 5.3% 4.9% -2.1% Institutional 52% 52% 0% 17,172 -0.6% 12.8% 17.0% 14.3% 31.9% Retail 48% 48% 0% Dow Jones 24,611 -1.3% -1.4% -0.5% -0.4% 17.7% DFM 187 187 - S&P 500 2,713 -1.4% -0.1% 1.3% 1.5% 14.3% Local 47% 51% -4% Nasdaq 7,344 -1.8% 1.5% 5.5% 6.4% 24.4% Foreign 53% 49% 4% FTSE 100 7,043 -1.7% -2.8% -6.4% -8.4% -5.2% Institutional 56% 47% 8% 12,217 -1.4% -2.2% -6.5% -5.4% 1.4% Retail 44% 53% -8% 5,223 -1.1% -1.3% -2.4% -1.7% 4.2% Total 257 257 - Nikkei225 21,335 -0.7% -2.7% -6.8% -6.3% 9.3% Local 49% 52% -3% HIS 31,344 -0.5% 1.5% 7.2% 4.8% 27.9% Foreign 51% 48% 3% EGX DAX CAC40 - Upcoming Corporate Actions & Events Date Company Event 20-March GFH AGM 21-March Dar Al Takaful Board Meeting 21-March Ajman Bank AGM 21-March DU AGM 22-March DSI Board Meeting 22-March Emaar Malls Board Meeting 25-march DP World Board Meeting 27-March Emirates NBD General Meeting Key Stories 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 Tuesday , March 20, 2018 Dubai Investments, consortium of investors to launch Arkan Bank with paid-up capital of US$ 100 million FAB Denies Conducted Deals W/ Intent to Manipulate Qatar Riyal Dubai Non-Oil Foreign Trade Climbs 2% as Mobile Phones Top List Alabbar Sees `Severe' Competition for Mideast's Online Retailers Adnoc Distribution seeks shareholders’ approval for dividend of 5.88 filss per share for year 2017 UAE to introduce new interbank rates system on April 15 –sources CBD of Dubai Seeks Approval to Sell Bonds Under EMTN Program Aabar Sells Stake in Egypt's Palm Hills for EGP525.3M Dubai to Add Up to 300 MW Solar Power Each Year Until 2030: DEWA Saudi c.bank tweaks loan-deposit policy to allow more lending Clariant CEO says update on SABIC partnership likely in September Aramco forges ahead to Saudi-only listing plan Saudi Arabia to deposit $2 bln in Yemen central bank Saudi women should have choice whether to wear abaya robe -crown prince Kuwait Finance House to decide on Aref stake by end of Q2 Oman's PDO reports significant gas find in Mabrouk field Bahrain's Batelco to Be Divided Into Wholesale and Retail Units Egypt to offer shares in 4-6 state firms, aims to raise up to $850 mln Egypt expects GDP growth at 5.3-5.4 pct in Q3 FY 2017-2018 - finance minister Egypt Cabinet Approves $150M Sanitation Plant Loan From AfDB Global Markets Wrap: Asian shares fell on Tuesday after investors took profits in high-flying U.S. technology shares on fears of stiffer regulation as Facebook came under fire following reports it allowed improper access to user data. The retreat came as investors braced for new Federal Reserve Chairman Jerome Powell's first policy meeting starting later in the day and amid concerns that U.S. President Donald Trump could impose additional protectionist trade measures. The yield on 10-year Treasuries was little changed at 2.857 percent, 10 basis points below the four-year high of 2.957 percent touched a month ago. But the yield on two-year notes hit a 9 1/2-year high of 2.32 percent on Monday as the Fed appears set to bump up its policy interest rates to 1.50-1.75 percent from the current 1.25-1.50 percent. The British pound GBP=D4 hit one-month high of $1.4088 after Britain and the European Union agreed to a 21month post-Brexit transition period and a potential solution to avoid a "hard border" for Northern Ireland. Oil prices edged up on Tuesday, lifted by tensions in the Middle East, although rising output in the United States and shaky stock markets put a lid on further gains. U.S. West Texas Intermediate (WTI) crude futures were at $62.31 a 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 Tuesday , March 20, 2018 barrel at 0128 GMT, up 25 cents, or 0.4 percent, from their previous close. Brent crude futures were at $66.26 per barrel, up 21 cents, or 0.3 percent. Traders pointed to concerns in the Middle East, where the United States may reimpose sanctions on Iran, as well as tensions between Saudi Arabia and Iran. Worries about Venezuela's tumbling crude production also supported oil markets. The International Energy Agency said last week that Venezuela, where an economic crisis has cut oil production by almost half since early 2005 to well below 2 million bpd PRODN-VE, was "clearly vulnerable to an accelerated decline", and that such a disruption could tip global markets into deficit. UAE: Dubai Investments, the leading diversified investment company listed on the Dubai Financial Market, has announced plans to lead a consortium of investors to launch Arkan Bank, a wholesale Islamic financial institution with an initial paid-up capital of US$ 100 million. The authorised share capital of Arkan Bank will be US$ 500 million. Arkan Bank is applying to the Dubai Financial Services Authority (DFSA) for approval for a prudential Category 5 licence to operate as an Islamic Financial Institution. This will be the first home-grown Islamic bank to operate from Dubai International Financial Centre (DIFC). First Abu Dhabi Bank says "categorically refutes" recent media speculation that alleged the bank conducted transactions with the intent to manipulate the Qatari riyal, according to an emailed statement. Dubai Non-Oil Foreign Trade Climbs 2% as Mobile Phones Top List. Non-oil foreign trade at 1.3 trillion dirhams in 2017 vs 1.28 trillion year ago, Dubai Media Office says in an emailed statement. Re-exports grew 9% to 360b. Imports 798b; exports 144b. China was biggest trading partner. Followed by India, U.S. and Saudi Arabia Dubai-based business-tycoon Mohamed Alabbar expects strong growth in the Middle East’s online retail sector, but sees “severe” competition for his e-commerce start up Noon.com. Adnoc Distribution seeks shareholders approval for dividend of 5.88 filss per share for year 2017 The United Arab Emirates central bank will introduce a new way of setting Emirates Interbank Offered Rates (EIBOR) on April 15, in a bid to make the system more accurate and transparent, banking sources told Reuters on Monday. The new system will shrink the panel of banks whose quotes are used to calculate the rates to eight banks from 10, the sources said. They did not disclose other ways in which the system would change. The central bank did not immediately respond to requests for comment. 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 Tuesday , March 20, 2018 CBD of Dubai Seeks Approval to Sell Bonds Under EMTN Program. Board seeks shareholder approval at AGM Tuesday to renew $3b EMTN program, the Dubai-based lender says in statement to stock exchange.vSubject to approval of authorities. Aabar Investments sold 5.55% stake in Egyptian property developer Palm Hills at an average price of 4.1 Egyptian pounds per share, according to a statement on the Cairo stock exchange. UPP Capital Investment raises its stake in Palms Hills from 10.96% to 16.51% through 525.3m pound buy-in at an average price of 4.1 pounds per share. Dubai’s DEWA to add 200-300 MW of solar power each year through 2030, DEWA CEO Saeed Mohammed Al Tayer says in interview in Dubai. DEWA to have 42,000 MW of power generation capacity by 2050, with 75% of that capacity to come from renewables GCC/ MENA: Saudi Arabia's central bank has instructed banks to change the way they calculate their loan-to-deposit ratios, giving greater weight to long-term deposits in order to permit more lending, according to a report on the Maaal financial news website. The new rules, set to come into effect in early April, will introduce a weighting system for calculating a bank's deposits, ranging from 100 percent for the face value of deposits on demand to 190 percent for deposits of over five years, Maaal quoted unnamed sources as saying. Clariant aims to give a strategic update on its partnership with 25-percent investor Saudi Basic Industries Corp (SABIC) in September, Chief Executive Hariolf Kottmann told shareholders at the Swiss speciality chemicals maker's annual general meeting on Monday. Aramco forges ahead to Saudi-only listing plan. Saudi Arabia is scaling back its ambitions for a public offering for oil giant Aramco, moving ahead with a listing next year solely on the Saudi stock exchange while taking more time to decide if an international venue is worth it, government officials and others close to the process say. (WSJ) Saudi Arabia signed an agreement in Riyadh to deposit $2 billion in Central Bank of Yemen account, Saudi Press Agency said late on Thursday. Women in Saudi Arabia need not wear headcover or the black abaya - the loose-fitting, full-length robes symbolic of Islamic piety - as long as their attire is "decent and respectful", the kingdom's reform-minded crown prince said. Kuwait Finance House will make a decision by the end of the second quarter on the future of its stake in affiliate Aref Investment Group, the group chief executive of the Islamic lender said on Monday. The bank was considering selling its stake in the company, CEO Mazin Saad Al-Nahedh said at the bank's annual general meeting. Petroleum Development Oman (PDO) reported a significant gas find in the Mabrouk field with an estimated 4 trillion cubic feet (tcf) of recoverable gas and 112 million barrels of condensates, state news agency ONA reported on Monday. It said PDO, the country's top oil and gas exploration and production company, had been exploring the reservoir located north of its concession area. It gave no further details. Bahrain's Batelco to Be Divided Into Wholesale and Retail Units. Company to be divided into wholesale and retail units as functional separation. At this stage there will be no change in structure or ownership Egypt will offer shares in four to six state companies this year seeking to raise between 12 billion and 15 billion Egyptian pounds ($680 million -$850 million), Finance Minister Amr El Garhy told Reuters on Monday. The country plans to float shares in state oil company Engineering for Petroleum and Process Industries (ENPPI) in September, Garhy said. The government owns vast swathes of Egypt's economy, including three of its largest banks - National Bank of Egypt, Banque Du Caire, the United Bank of Egypt - along with much of its oil industry and real estate sector. 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 Tuesday , March 20, 2018 Egypt expects gross domestic product growth between 5.3 and 5.4 percent in the third quarter of the 2017-2018 fiscal year, Finance Minister Amr El Garhy told Reuters on Monday. The economy grew by around 5.3 percent in the second quarter, Planning Minister Hala al-Saeed said in February Egypt Cabinet Approves $150M Sanitation Plant Loan From AfDB. Loan carries 1% interest rate, Housing Minister Mostafa Madbouly tells reporters in Cairo. Loan has grace period of 5 years; to be repaid over 25 years (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) Al Madina 25.35% 0.11 428,558 186,608 Eshraq 35.92% 0.09 2,092,500 1,506,764 Aldar 25.76% 0.07 5,503,841 12,219,857 Aramex 62.03% 0.05 732,050 3,148,158 Arabtec 18.24% 0.04 600,000 1,380,150 Union Cement 2.83% 0.04 267,775 487,404 RAK Cement 20.70% 0.04 201,247 181,142 Ajman Bank 10.84% 0.03 504,097 539,442 GFH 72.72% 0.03 1,072,555 1,622,680 4.94% 0.02 84,000 21,002 Al Khazna Ins. Daily Foreign Ownership Decrease Company Name Foreign Change Ownershp (%) (%) Shares Mcap Change Change (AED) DSI 16.77% -0.06 (642,593) (1,150,366) DXBE 31.20% -0.04 (3,199,965) (1,728,169) Air Arabia 23.18% -0.04 (1,866,680) (2,426,948) Agthia 13.31% -0.04 (240,000) (1,104,120) Tabreed 46.97% -0.02 (542,703) (879,927) DAMAC Properties 41.48% -0.02 (1,210,000) (3,763,510) UNB 11.67% -0.02 (550,285) (2,129,836) 8.29% -0.02 (367,702) (840,122) Al Waha Capital 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 Tuesday , March 20, 2018 Dana Gas 59.28% -0.02 (1,395,325) (1,046,607) ADCB 14.96% -0.02 (1,039,646) (7,330,304) (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
7. IS Morning Report Tuesday , March 20, 2018 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