UAE: Daily Market Trading Report - 26 March

Transcription

1. IS Morning Report Monday , March 26, 2018 Global & Regional Benchmarks Indices Close UAE Trading Summary 1Day 1Mnth 3Mnth YTD 1Y Change Change Change Change Change BUY (AEDm) SELL NET ADX 4,615 0.8% 0.8% 6.8% 4.9% 3.4% ADX 208 208 - DFM 3,115 -1.1% -5.2% -6.5% -7.6% -10.2% Local 61% 72% -10% TASI 7,843 0.0% 4.2% 9.3% 8.5% 14.1% Foreign 39% 28% 10% KWSEI 6,632 -0.5% -1.8% 4.1% 3.5% -5.8% Institutional 38% 37% 1% 16,985 -0.5% 9.9% 13.8% 13.1% 29.6% Retail 62% 63% -1% Dow Jones 23,533 -1.8% -8.5% -4.9% -4.8% 14.3% DFM 147 147 - S&P 500 2,588 -2.1% -6.9% -3.4% -3.2% 10.4% Local 65% 47% 18% Nasdaq 6,993 -2.4% -5.8% 0.8% 1.3% 20.0% Foreign 35% 53% -18% FTSE 100 6,922 -0.4% -5.0% -8.8% -10.0% -5.7% Institutional 33% 48% -15% 11,886 -1.8% -5.1% -9.1% -8.0% -1.5% Retail 67% 52% 15% 5,095 -1.4% -4.7% -5.0% -4.1% 1.5% Total 355 355 - Nikkei225 20,588 -0.1% -7.1% -10.1% -9.6% 6.9% Local 63% 62% 1% HIS 30,141 -0.6% -4.3% 0.7% 23.7% Foreign 37% 38% -1% EGX DAX CAC40 1.9% Upcoming Corporate Actions & Events Date Company Event 26-march Eshraq Properties Board Meeting 27-March Emirates NBD General Meeting 11-Apr Dana Gas Annual General Assembly Meeting Key Stories DXB Entertainment reported 4Q17 revenues of 157m, EBITDA loss of AED70m. Full year EBITDA loss at AED422m. DXB Entertainment Board issuing AED 1.2 billion convertible instrument with the Company’s majority shareholder, Meraas, subject to regulatory and shareholder approval. Also, the company reaches deal with creditors to realign 4.2 billion dirhams debt facility Waha Capital to Focus 2018 Investments on Saudi Arabia, U.A.E. Hussain Al Nowais Steps Down as Waha Capital Chairman. Waha Capital names Salem Al Noaimi as chairman. Waha Capital names Khalfan Al Dhaheri as v. chairman 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 Monday , March 26, 2018 UAE inflation eases in February after jumping on new tax Abu Dhabi’s utility folded into new energy department DP World wins 30-year Congo port concession Al Sagr National Insurance Board Proposes FY Dividend of 5% Al Fares to invest Dh60m in Dubai Industrial Park Saudi's NADEC agrees to acquire dairy competitor Saudis Intercept Multiple Ballistic Missiles Fired From Yemen Kuwait Raises Spending Ceiling to 21.5b Dinars from 20b Dinars Egypt Q2 2017-18 GDP at 5.3 pct -planning minister Egypt Domestic Fuels Price Covers 70% Production Cost: Minister China's SAIC Motor plans factory in Egypt Global Markets Wrap: Fears of a full-blown trade war between the United States and China battered Asian shares again on Monday, keeping the safe haven yen near a 16-month peak as investors fretted over the fate of global growth. U.S. shares were also clobbered last week, with the Dow falling 1.8 percent on Friday, the S&P 500 declining 2.1 percent and the Nasdaq off 2.4 percent. Oil prices reversed earlier gains on Monday as concerns of a looming trade dispute between the United States and China weighed on global markets. WTI crude futures were at $65.51 a barrel at 0255 GMT, down 37 cents, or 0.6 percent, from their previous close. Brent crude futures were at $70.24 per barrel, down 21 cents, or 0.3 percent. Financial oil markets have long been dominated by Europe's Brent and America's WTI, despite Asia being the world's biggest and fastest growing oil consumer, has so far not had a benchmark. That possibly changed on Monday, as Asia saw the launch of Shanghai crude oil futures. Shanghai crude oil futures opened up more than 6 percent on the Monday debut of China's new oil benchmark as trading by mom-and-pop and institutional investors eclipsed turnover in the most-active contract of established rival Brent. UAE: DXB Entertainment Q4 2017 revenue was AED 157 million, an increase of 37% compared to the third quarter. Revenue for 2017 was AED 552 million. At EBITDA level, the company reported loss of AED70m in 4Q17 (as against loss of AED105m in 3Q17). Full year 2017 EBITDA loss came in at AED422m. Q4 2017 visits reached 795,746, an increase of 66% compared to the third quarter. Total visits for the year approached 2.3 million. DXB Entertainment Board of Directors recommends entering into an AED 1.2 billion convertible instrument with the Company’s majority shareholder, Meraas, subject to regulatory and shareholder approval. Agreement reached with financing partners of Phase I debt to realign key terms of the debt, including a 3-year moratorium on covenant testing and principal repayments. Waha Capital will look into Gulf Cooperation Council opportunities in healthcare, financial services, technology, Chairman Hussain Jasim Al Nowais tells reporters. Waha Capital shareholders approve increase in dividend to 17.5 fils from 15 fils. 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 Monday , March 26, 2018 Hussain Al Nowais Steps Down as Waha Capital Chairman. Waha Capital names Salem Al Noaimi as chairman. Waha Capital names Khalfan Al Dhaheri as v. chairman Inflation in the United Arab Emirates eased slightly in February after jumping to a multi-year high in January when the government introduced a 5 percent value-added tax, official data showed on Sunday. The annual inflation rate came down to 4.5 percent last month from 4.8 percent in January, which was the highest level since 2015. Monthon-month, consumer prices fell 0.2 percent in February after surging 2.7 percent in January. Abu Dhabi has folded utility Abu Dhabi Water & Electricity Authority (Adwea) into the emirate's newly established department of energy as part of a consolidation of state-owned entities, a spokesman for the department said on Sunday. The Regulation & Supervision Bureau (RSB), which oversees water, waste water and electricity in Abu Dhabi, will also become part of the energy department. DP World said on Sunday it had won a 30-year management and development concession for a greenfield, multipurpose port in the Democratic Republic of the Congo (DRC). The Dubai-owned port operator will set up joint venture with the Central African country's government to manage and invest in the Atlantic Coast's Port of Banana, it said in a bourse statement. Al Sagr National Insurance Board Proposes FY Dividend of 5% Dubai Industrial Park (DI), the industrial district within Dubai Wholesale City (DWSC), said on Sunday that Al Fares International Group plans to invest Dh60 million in DI and will launch a warehouse and four manufacturing facilities. GCC/ MENA: Saudi Arabia's National Agricultural Development Co (NADEC) has agreed to buy Al Safi Danone Company (ASD) in a deal that will help boost its business in the dairy industry in the kingdom and extend its geographic reach, it said on Sunday. ASD, a producer of dairy and juice products, is a joint venture between Saudi Arabia's Al Safi Group of Companies and French food company Danone. The value of the transaction was not disclosed. Saudi Arabia said it intercepted seven ballistic missiles fired at Riyadh and other cities by Houthi forces in Yemen, marking an escalation from previous rocket launches at the kingdom. Kuwait Raises Spending Ceiling to 21.5b Dinars from 20b Dinars. Kuwait Finance ministry in a tweet on draft 20182019 budget dated March 24. Egypt Domestic Fuels Price Covers 70% Production Cost: Minister. Re-pricing fuels is acceptable, Egypt Oil Minister Tarek El-Mollatold DMC Satellite television channel. Egypt expects rising crude oil price to boost costs, he said Egypt's gross domestic product grew by 5.3 percent in the quarter ending in December 2017, Planning Minister Hala al-Saeed said on Sunday, and its unemployment rate fell to 11.3 percent, the lowest rate since 2011. Saeed was speaking in a meeting with President Abdel Fattah al-Sisi and Prime Minister Sherif Ismail, Sisi's office said in a statement. GDP edged up slightly from the first-quarter figure of 5.2 percent. First-quarter unemployment was 11.9 percent. Egypt's fiscal year runs from July 1 to June 30. The second quarter runs from Sept. 1 to Dec. 31. Egypt has implemented rigorous economic reforms tied to a $12 billion three-year International Monetary Fund loan agreement signed in November 2016. SAIC Motor Corp, China's largest automaker, plans to build a factory in Egypt to supply markets in the Middle East and Africa, China's Xinhua News Agency reported, citing Egypt's trade minister. (Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian Business) Daily Foreign Ownership Increase 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 Company Name Monday , March 26, 2018 Foreign Change Ownershp (%) (%) Shares Mcap Change Change (AED) Ekttitab Holding 35.19% 0.19 605,386 210,247 Al Madina 25.12% 0.13 506,478 214,305 Al Salam Sudan 73.35% 0.09 109,148 187,734 Al Khazna Ins. 5.07% 0.07 294,000 76,440 Aldar 25.82% 0.07 5,503,841 12,328,603 Union Properties 24.39% 0.07 3,002,678 2,612,330 Marka 14.95% 0.06 300,000 154,500 Methaq Takaful Ins. 23.68% 0.04 60,000 48,000 Eshraq 35.90% 0.03 697,500 516,150 Ajman Bank 10.83% 0.02 336,065 352,868 Daily Foreign Ownership Decrease Company Name Foreign Change Ownershp (%) (%) Shares Mcap Change Change (AED) Deyaar Dev 11.13% -0.13 (7,511,400) (3,658,052) Dubai Isl. Ins 12.66% -0.09 (203,175) (142,222) Islamic Arab Ins. 23.31% -0.06 (714,181) (319,440) Dar Al Takaful 22.23% -0.05 (75,000) (50,850) DIB 16.85% -0.05 (2,466,003) (13,245,066) Shuaa Capital 18.06% -0.04 (426,000) (447,300) UNB 11.53% -0.03 (825,428) (2,971,540) Emaar Properties 37.27% -0.02 (1,431,948) (8,205,061) Air Arabia 23.15% -0.02 (933,340) (1,082,674) Sudatel 79.88% -0.01 (121,068) (64,166) (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 Facsim ile: +971 26 354 669 Website: www.integratedsecurities.ae
5. IS Morning Report Monday , March 26, 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 Facsim ile: +971 26 354 669 Website: www.integratedsecurities.ae