UAE: Daily Market Trading Report - 22 April

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1. IS Morning Report Sunday , April 22, 2018 Global & Regional Benchmarks Indices Close UAE Trading Summary 1Day 1Mnth 3Mnth YTD 1Y (AEDm) Change Change Change Change Change 107 - -8.5% -11.2% Local 37% 42% -5% 63% 58% 5% 66% 55% 12% 34% 45% -12% -1.0% 19.1% DFM 165 165 - -0.1% 13.7% Local 48% 30% 18% 52% 70% -18% 3.6% Institutional 55% 68% -13% -2.9% 4.1% Retail 45% 32% 13% 1.9% 7.0% Total 272 272 - -2.6% 19.0% Local 44% 35% 9% 56% 65% -9% 0.5% DFM 3,082 -0.2% TASI 8,277 1.6% 7.2% KWSEI 6,633 0.5% -1.1% 17,781 0.4% Dow Jones 24,463 -0.8% 4.0% -6.7% S&P 500 2,670 -0.9% 3.2% -6.0% Nasdaq 7,146 -1.3% 2.2% -4.2% FTSE 100 7,368 0.5% 6.4% -4.7% -4.2% 12,541 -0.2% 5.5% -7.5% 5,413 0.4% 6.2% -2.2% Nikkei225 22,162 -0.1% 7.5% -8.1% HIS 30,418 -0.9% 0.4% -7.6% CAC40 -3.2% -12.7% 7.0% 9.8% 14.5% 20.0% Foreign -0.1% NET 107 4,707 DAX 1.8% SELL 4.1% ADX ADX EGX 4.0% BUY 3.5% -2.6% Institutional 3.9% 15.4% 18.4% 37.8% Retail 3.5% 20.9% Foreign 1.7% 26.5% Foreign Upcoming Corporate Actions & Events Date Company Event 22-Apr Eshraq Properties Annual General Assembly 22-Apr Emaar Properties Annual General Assembly 22-Apr Amanat Annual General Assembly 22-Apr Damac Annual General Assembly 23- April DSI Annual General Assembly Meeting (AGM) 23-Apr Emaar Malls Annual General Assembly 23-April ADIB Board 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 Facsim ile: +971 26 354 669 Website: www.integratedsecurities.ae
2. IS Morning Report Sunday , April 22, 2018 UAE's Dana Gas Shareholders Approve FY Cash Dividend of 5 Pct Arabtec Wins 433 Million-Dirham Infrastructure Contract in Dubai DP World should rethink port deals in Somalia - foreign minister OMV Is Said to Weigh Buying Stake in Abu Dhabi's Ruwais Refinery More countries needed in OPEC, non-OPEC pact - UAE's Al Mazrouei UAE energy minister says oil prices are not artificially high Sharjah’s Arada targets Dh2bn of sales by 2019 as it plans Dubai debut Saudi Finmin: Excise Tax, VAT Revenue Above Govt Forecasts Saudi energy minister says premature to discuss easing cuts in June Saudi's Al Sagr, Wala'a Insurance jump on merger talks Average yields mixed on Egypt's six-month, one-year T-bills Yorktown selling Egypt oil business Merlon Omantel Issues $1.5 Bln Bonds In Two Tranches Investcorp Bank Sells Veco Precision Global Markets Wrap: A U.S. bond sell-off continued for a second day on Friday, pushing the 10-year Treasury yield to its highest level in more than four years and steepening the yield curve after two weeks of flattening. The higher yields seemed to reflect a technical shift in the market, rather than a jump in investor confidence in the U.S. economy or rising inflation, so analysts are regarding the steeper curve as temporary. Benchmark 10-year notes touched 2.962 percent, surpassing their January 2014 levels. They last fell 13/32 in price to yield 2.9602 percent. Oil prices edged up on Friday, stabilizing after an earlier slide driven by U.S. President Donald Trump's criticism of OPEC's role in pushing up global oil prices. Brent crude oil futures gained 28 cents, or 0.4 percent, to settle at $74.06 per barrel. West Texas Intermediate crude futures for delivery in June, the most active U.S. contract, were up 7 cents at $68.40. The May WTI contract, which expired on Friday, gained 9 cents, or 0.1 percent, to settle at $68.38. UAE: UAE's Dana Gas Shareholders Approve FY Cash Dividend of 5 Pct Arabtec Engineering Services wins a contract from Dubai Municipality for Jebel Ali industrial sewerage and drainage system for 433 million dirhams, according to a statement. The project will commence in May for a duration of 30 months. Arabtec Engineering Services has previously completed and delivered 12 projects to Dubai Municipality with a combined value of 909 million dirhams over the last 9 years. Somalia's foreign minister said on Friday that Dubai state-owned port operator DP World DPW.DI should reconsider its contract with the breakaway region of Somaliland and work with federal authorities so Somalia's sovereignty is not violated. 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 Facsim ile: +971 26 354 669 Website: www.integratedsecurities.ae
3. IS Morning Report Sunday , April 22, 2018 OMV AG is considering taking a minority stake in Abu Dhabi’s giant oil refinery as the Austrian company deepens links with the Persian Gulf emirate that’s its second-largest shareholder, according to people familiar with the situation. OMV is looking at a stake in the 817,000 barrel-a-day Ruwais plant and would partner with the Abu Dhabi National Oil Co., or Adnoc, to produce higher-grade fuels, the people said, asking not to be identified because the discussions are private. Further oil producers need to join Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers in curbing supply, UAE oil minister Suhail Mohamed Al Mazrouei told a German newspaper. UAE Energy Minister Suhail Mohamed al-Mazrouei said on Friday oil prices were not artificially high and OPEC and non-OPEC countries were playing their role to correct the market. Mazrouei made his remarks after being asked to comment on U.S. President Donald Trump's tweet earlier on Friday in which he said oil prices were artificially very high. Arada, the Sharjah-based real estate developer backed by the son of Saudi Prince Alwaleed bin Talal, is targeting Dh2 billion of revenues by next April, as it progresses unit sales on two schemes in Sharjah and ramps up plans to expand in Dubai, Saudi Arabia and Europe over the coming years. GCC/ MENA: Saudi Finmin: Excise Tax, VAT Revenue Above Govt Forecasts. Fiscal reform in Saudi Arabia has been “extremely successful,” Saudi Arabia Finance Minister Mohammed Al-Jadaan says. Al-Jadaan speaks in Q&A session at IMF meetings in Washington. On trade issues, “it’s something I’ve been watching and discussing with my colleagues”. “We want to make sure we don’t create an environment where it’s a fight rather than cooperation and working together” Saudi Energy Minister Khalid al-Falih says OPEC and non-OPEC producers will continue to look at oil inventories but also needs to look at oil investment. Saudi's Falih says long-term cooperation between OPEC and non-OPEC oil producers does not mean extending existing cuts. Falih says it is premature to discuss easing cuts at June meeting. Shares in Saudi Arabia's Al Sagr Cooperative Insurance 8180.SE jump 4.7 percent to 24.98 riyals in heaviest trade since at least May 2017, Wala'a Cooperative Insurance 8060.SE climbs 2.6 percent to 34.30 riyals in heaviest trade for a month. Companies said they would study possible merger with each other; in next six months, they will sign non-binding memorandum of understanding to conduct technical, financial and legal studies. Wala'a earned fourthquarter net profit before zakat of 32.1 million riyals ($8.6 million) on gross written premiums of 300.6 million riyals; Al Sagr earned 2.5 million riyals on premiums of 82.3 million riyals. Average yields on Egypt's six-month and one-year treasury bills were mixed at an auction on Thursday, data from the central bank showed. The yield on the 182-day bill eased to 17.523 percent from 17.544 percent at the last similar auction, while the yield on the 357-day bill rose to 16.840 percent from 16.767 percent. Private equity firm Yorktown Partners is selling its Egyptian-focused oil and gas company Merlon International, hoping to raise up to $400 million, two banking sources told Reuters. The process is being run by Citigroup and bids are expected to be finalized in July, according to one of the sources. Omantel Issues $1.5 Bln Bonds In Two Tranches Investcorp Bank Sells Veco Precision (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 Facsim ile: +971 26 354 669 Website: www.integratedsecurities.ae
4. IS Morning Report Sunday , April 22, 2018 Daily Foreign Ownership Increase Company Name Foreign Change Ownershp (%) (%) Shares Mcap Change Change (AED) Shuaa Capital 17.93% 0.45 4,792,500 4,840,161 Marka 16.59% 0.43 2,150,000 711,611 Gulf Nav 20.17% 0.07 643,446 669,148 Methaq Takaful Ins. 23.85% 0.03 45,000 35,998 Aldar 25.77% 0.02 1,572,526 3,302,125 Aramex 62.11% 0.02 292,820 1,185,856 DXBE 31.75% 0.02 1,599,983 695,955 Dubai Isl. Ins 12.49% 0.01 22,575 15,734 Amlak Finance 20.56% 0.01 147,500 122,693 7.28% 0.01 35,587 42,702 Fujairah Cement Daily Foreign Ownership Decrease Company Name Foreign Change Ownershp (%) (%) Shares Mcap Change Change (AED) National Marine D 0.12% -0.08 (200,000) (659,964) RAK Cement 20.55% -0.03 (150,935) (117,388) Deyaar Dev 10.62% -0.03 (1,733,400) (802,520) RAK Poultry 15.87% -0.03 (25,920) (69,984) Eshraq 35.41% -0.03 (697,500) (502,173) Air Arabia 23.52% -0.02 (933,340) (1,119,947) Manazel 20.01% -0.02 (520,000) (285,984) RAK Properties 28.86% -0.02 (400,000) (263,986) DAMAC Properties 41.29% -0.01 (605,000) (1,796,752) RAK Ceramics 54.08% -0.01 (90,132) (223,515) (Source: ADX, DFM, Bloomberg, Reuters Institutional Sales and Trading Team 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 Facsim ile: +971 26 354 669 Website: www.integratedsecurities.ae
5. IS Morning Report Sunday , April 22, 2018 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 Facsim ile: +971 26 354 669 Website: www.integratedsecurities.ae