UAE: Daily Market Trading Report - 21 June

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1. IS Morning Report Thursday , June 21, 2018 # Global & Regional Benchmarks Indices # UAE Trading Summary 1Day 1Mnth 3Mnth YTD 1Y Change Change Change Change Change Close BUY (AEDm) SELL NET 2.0% ADX 108 108 - -8.9% -13.3% -14.5% Local 63% 34% 29% 11.3% Foreign 37% 66% -29% -2.3% -0.9% Institutional 80% 70% 10% -5.9% 7.5% 20.7% Retail 20% 30% -10% -1.4% -0.1% -0.2% 15.2% DFM 185 185 - 0.2% 1.3% 2.0% 3.5% 13.6% Local 65% 45% 20% 7,782 0.7% 5.2% 5.9% 12.7% 24.8% Foreign 35% 55% -20% 7,627 0.3% -2.9% 8.4% -0.8% 2.4% Institutional 44% 64% -20% 12,695 0.1% -2.9% 3.1% -1.7% -0.6% Retail 56% 36% 20% 5,372 -0.3% -4.7% 2.5% 1.1% 1.9% Total 294 294 - Nikkei225 22,716 0.7% -1.2% 6.2% -0.2% 12.8% Local 64% 41% 23% HIS 29,509 -0.6% -5.5% -6.1% -1.4% 14.8% Foreign 36% 59% -23% ADX 4,550 -0.2% 2.1% DFM 2,923 -0.6% -0.8% TASI 8,166 -1.3% 2.1% 5.2% 13.0% KWSEI 1,301 -0.5% 2.6% -2.6% EGX 16,143 0.5% -3.8% Dow Jones 24,658 -0.2% S&P 500 2,767 Nasdaq FTSE 100 DAX CAC40 -0.4% 3.5% # Upcoming Corporate Actions & Events Date Company Event 21-June Dana Gas AGM 24- June SHUAA Board Meeting 25-June RAKBANK Board Meeting 25-June ABNIC Board Meeting 26-June NCC Board Meeting 7-Aug KHCB Board Meeting # Key Stories Air Arabia says investment in Abraaj valued at $336m 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 Thursday , June 21, 2018 Abraaj sells LATAM, Africa businesses to Colony Capital Adnoc plans India investment Dubai Investments has announced that the AED460 million ($125 million) Fujairah Business Centre project is progressing ahead of schedule. Aldar hires Marriott to revamp, run Yas Island Hotel Mubadala unit acquires 10% stake in offshore Egyptian gas field GEMS plans to halt teachers’ salary increases after Dubai’s freeze on school fees Saudi Arabia wins coveted emerging-market status in MSCI upgrade Saudi Bourse CEO Sees Inflows up to $40 Billion After MSCI Move Saudi Regulator Says Aramco IPO May Be Ready Before Year's End. Noor Financial Investment sells 36.2 mln shares Of Meezan Bank Kuwait Finance House Gets Approval for up to $1b Sukuk Issuance Kuwait's Al Madina relieves CEO Yousef Moosa of his duties Barwa Bank and International Bank of Qatar in advanced merger talks # Key Global Trends // Market Clues Saudi Arabia’s efforts to modernize its stock market and attract billions in investments were recognized by MSCI Inc., which announced on Wednesday the addition of the kingdom to its group of emerging markets. The index compiler, which has more than $1.9 trillion in assets benchmarked to its group of emerging markets indexes, will reclassify Saudi Arabia with implementation of its indexes starting in June 2019, it said. Asian shares crept ahead on Thursday as a lull in the Sino-U.S. trade tussle and talk of more Chinese stimulus helped calm nerves, while tensions in the oil market grew ahead of an OPEC meeting that could expand the supply of crude. Oil prices fell on Thursday as Iran signaled it could be won over to a small rise in OPEC crude output, potentially paving the way for the producer cartel to agree a supply increase during a meeting on Friday. However, prices were prevented from dropping further by record refinery runs in the United States and a large decline in crude inventories, a sign of strong fuel demand in the world's biggest economy. Brent crude futures were at $74.51 per barrel at 0152 GMT, down 23 cents, or 0.3 percent, from their last close. 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 Thursday , June 21, 2018 Argentina won promotion to emerging-market status for the first time in almost a decade, rewarding President Mauricio Macri for his efforts to scrap capital controls and normalize the economy after taking over in 2015 following years of mismanagement. # UAE Stories Air Arabia said on Wednesday it has $336 million (Dh1.2 billion) invested in Abraaj funds but said its exposure to the embattled group will not impact its operations. An Air Arabia spokesperson stressed that “there is no significant impact on Air Arabia’s daily or future business or on its liquidity status” as a result of its exposure to Abraaj, which on Thursday filed for provisional liquidation in the Cayman Islands. Abraaj Group agreed to sell its Latin America, Sub Saharan Africa, North Africa and Turkey Funds management business to U.S. investment management firm Colony Capital Inc, the companies said on Thursday. Abu Dhabi National Oil Co, the state-run oil company of the United Arab Emirates (UAE), may pick up a 25% stake in the largest global refinery and petrochemicals complex coming up at Ratnagiri in Maharashtra. Adnoc, the only company to commit to India’s crude oil reserve programme till date, plans to acquire the stake from the world’s biggest oil producer, Saudi Arabian Oil Co., or Saudi Aramco, which has partnered with a consortium of Indian staterun companies for the $44 billion project. Dubai Investments has announced that the AED460 million ($125 million) Fujairah Business Centre project, being developed by its joint venture entity Al Taif Investment, is progressing ahead of schedule. Al Taif Investment, DIC’s joint venture with Fujairah Investment Establishment (FIE), the investment arm of Fujairah Government, said the project will be completed by the fourth quarter of 2020. Aldar Properties has announced that it has appointed Marriott International to manage Yas Island Hotel, which overlooks the Formula 1 racetrack. Mubadala Petroleum has announced that it has completed the acquisition from Italy’s Eni of a 10 percent interest in the offshore Shorouk concession in Egypt, which contains the giant Zohr gas field. GEMS Education, the Dubai-based school operator backed by Blackstone Group, is planning to freeze teachers’ salary increases in 2019 and cut corporate jobs after the emirate said it would cap school fees. # GCC/ MENA Saudi Arabia wins coveted emerging-market status in MSCI upgrade The minimum foreign inflows would be at least $10 billion from passive funds with up to $40 billion total over next year as a result of MSCI’s upgrade to EM status, Khalid Al Hussan, chief executive officer of the Saudi bourse, says in phone interview. Expects index weight of 2.4% to 2.5% within EM Index. Aims to increase foreign ownership of Saudi stocks to 20% to 25% within next two years from about 5% today. On Saudi Aramco IPO: "We’ve made all necessary developments and changes to hold an IPO with whatever structure Aramco and the government decides". Says approaching more than 120 Saudi companies to encourage them to go public in bid to diversify sectors within stock exchange. The regulator in Saudi Arabia expects to release price stabilization regulations in the second half of 2018, which will be "the last piece of the puzzle" before an Aramco IPO, Capital Markets Authority ChairmanMohammed ElKuwaiz says in phone interview. Says then it’s just a matter of market demand and sentiment. 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 Thursday , June 21, 2018 Noor Financial Investment sells 36.2 mln shares Of Meezan Bank Kuwait Finance House Gets Approval for up to $1b Sukuk Issuance. Obtains central bank approval for first sukuk issuance as part of $3b program, bank says in statement to stock exchange. To be wakala sukuk with a murabaha option. Aimed at enhancing liquidity, diversify funding sources, use for general purposes.Kuwait's Al Madina relieves CEO Yousef Moosa of his duties Barwa Bank IPO-BABK.QA and International Bank of Qatar are in advanced talks to merge after discussions for a three-way merger with another bank collapsed last week. (Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian Business) 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