UAE: Daily Market Trading Report - 3 August

Transcription

1. Morning Report 03 August 2021 UAE Trading Summary Market Stats Indices Close Chg . 1M Chg. 3M Chg. YTD Chg. 1Y Chg. ADX DFM TASI BHSEASI EGX DJI S&P 500 Nasdaq FTSE DAX CAC40 Nikkei225 HIS 7,404 2,790 11,157 1,600 10,822 34,838 4,387 14,681 7,082 15,569 6,676 27,781 26,132 0.2% 0.3% 0.8% 0.4% 0.1% -0.3% -0.2% 0.1% 0.7% 0.2% 1.0% 1.8% 1.1% 7% -1% 2% 1% 6% 0% 1% 0% -1% -1% 2% -3% -7% 22% 6% 8% 8% 3% 3% 5% 5% 2% 3% 6% -4% -9% 47% 12% 28% 7% 0% 14% 17% 14% 10% 13% 20% 1% -4% 72% 36% 50% 24% 2% 32% 34% 37% 20% 26% 40% 28% 7% MSCI EM MSCI Asia 1,293 201 1.2% 1.7% -5% -3% -4% -3% 0% 0% 20% 22% US Fut. EU Fut. 4,391 4,107 0.3% -0.2% 1% 1% 6% 6% 17% 16% 34% 27% AEDm ADX Local Foreign Institutional Retail DFM Local Foreign Institutional Retail Total Local Foreign Buy 1,431 71% 29% 85% 15% 143 56% 44% 40% 60% 1,574 70% 30% Sell 1,431 76% 24% 81% 19% 143 56% 44% 53% 47% 1,574 74% 26% # Last Trading Day's Top Short Sell Positions Company Dana ADCB Aldar Short Volume (Shrs.) Short Volume (% of total volume) Total Stock Volume (mShrs.) Total Stock Turnover (AEDm) (771,475) (179,469) (52,954) 3.6% 3.7% 0.1% 21.7 4.8 73.8 19.2 34.1 300.0 Upcoming Corporates Actions & Events Date Company Event 3-Aug 3-Aug 3-Aug 4-Aug 8-Aug 8-Aug AD Aviation RAK Ceramics Aramex DIC ADNIC Arkan BoD/Results BoD/Results BoD/Results BoD/Results BoD/Results BoD/Results Net -5% 5% 4% -4% 0% 0% 14% 14% -5% 5%
2. # KEY STORIES The UAE PMI rose to 54.0 from 52.2 in June, its highest reading since July 2019 Amlak Finance concluded settlement with a net value of approximately AED 850mln including 31 undeveloped plots of land in the Ras Al Khor area Invest Bank implemented a co-CEO structure. Mohammed Alelaiq assumed role of CEO for support and special assets while Safdar Mandviwala is CEO for business and strategy Orient Insurance Q2 profit attributable AED 106.7mln versus AED 104.5mln year ago. Q2 gross written premium AED 1.34bln versus AED 1.05bln year ago Etihad has cancelled flights to Saudi Arabia until August 10, following the kingdom’s latest directive to suspend travel to the UAE Mubadala and BDT Capital Partners have completed an acquisition of water treatment company Culligan International UAE approves use of China's Sinopharm vaccine for children aged 3 and over. UAE on Aug 02 announced 1,537 new Covid-19 cases and 1,492 recoveries. The tally takes total cases in UAE to 683,914 with 661,156 recoveries and 1,956 deaths Saudi Arabia IHS Markit July composite PMI at 55.8 vs 56.4 in June Saudi’s CITC signed an initial agreement with the Saudi Stock Exchange pushing for more listing of technology operators in the Kingdom on the Saudi stock market Saudi Aramco denies plan to embark on Bitcoin mining activities Saudi Telecom posted quarterly net profit after zakat and tax SAR 2,821mln. Quarterly sales SAR 15,899mln Saudi’s Bank Aljazira posted quarterly net profit SAR 251.2mln versus SAR 165.8mln year ago. Quarterly total income SAR 722.6mln versus SAR 794.4mln year ago Saudi’ NADEC says that it is in the process of completion of construction of 30 MW solar energy project in Haradh Saudi’s Ataa Educational agreed with Arabian Education in relation to the potential acquisition of the full shareholders' shares of the company Qatar’s Communications Regulatory Authority issued order to direct Ooredoo Qatar and Vodafone Qatar to implement specific wholesale charges for 2021, 2022 and 2023 Kuwait has set a deadline on September 1 for pre-qualified companies to bid for two large Jurassic gas projects at the Northern border Kuwait’s IFA Hotels and Resorts’s unit signs joint project agreement to develop luxury housing project in Palm Jumeirah Dubai Wzaki FZE buys 6.7% stake in Pioneers Holding Company for Financial Investments for EGP 351.6mln Egypt’s Al Ahly Capital Holding reduced its stake in Alexandria Mineral Oils Company to 20.64% from 21.34% Egypt’s EDITA Food posted Q2 consolidated net profit attributable EGP 94.1mln versus EGP 11.3mln year ago. Q2 consolidated revenue EGP 1.15bln versus EGP 768.7mln year ago
3. # Key Global Trends/ Market Clues Asian stocks slipped on Tuesday, as the Delta coronavirus variant spread in key markets in the region and put Chinese authorities on high alert, rattling investor confidence. Trade in Asia faced a weaker lead from Wall Street after investors there considered the impact the increasing number global cases of Delta could have on global economic growth. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.40% in early trading. China's blue chip index CSI300 shed 0.80% while Hong Kong's Hang Seng Index fell 0.83%. Australia's benchmark index, the S&P/ASX200 is off 0.25%. The Dow Jones Industrial Average fell 0.28%, the S&P 500 lost 0.18% and the Nasdaq Composite added 0.06%. Crude oil prices reversed course after an early bounce on Tuesday, as concerns over coronavirus curbs combined with slowing factory activity in key markets weighed on sentiment. Brent crude oil futures shed 5 cents, or 0.1%, to USD 72.84 a barrel, as of 0309 GMT. U.S. West Texas Intermediate (WTI) crude was down 8 cents, or 0.1%, at USD 71.18 a barrel. Both markets dropped more than 3% on Monday. # UAE Stories The UAE non-oil private sector expanded at its fastest pace in two years in July as demand rebounded from the COVID-19 pandemic, a business survey showed. The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI) rose to 54.0 from 52.2 in June, its highest reading since July 2019. Amlak Finance concluded settlement with a net value of approximately AED 850mln including 31 undeveloped plots of land in the Ras Al Khor area, with an approximate net value of AED 650mln. Payment of AED 200mln in cash installments within 24 months . Invest Bank disclosed that Lloyd Maddock left the company. Board implemented a co-CEO structure. Mohammed Alelaiq assumed role of CEO for support and special assets while Safdar Mandviwala is CEO for business and strategy. Orient Insurance Q2 profit attributbale AED 106.7mln versus AED 104.5mln year ago. Q2 gross written premium AED 1.34bln versus AED 1.05bln year ago. Etihad has cancelled flights to Saudi Arabia until August 10, following the kingdom’s latest directive to suspend travel to the UAE. The date of Etihad’s Saudi flight cancellations may be extended in line with government mandates, the statement said. Mubadala and BDT Capital Partners have completed an acquisition of water treatment company Culligan International. BDT Capital Partners has bought a majority interest in Culligan from Advent International and Centerbridge Partners in a deal first announced in May. Mubadala provided a significant capital commitment as an anchor partner in the transaction. Advent will also retain a minority stake in Culligan going forward. The financial terms of the transaction were not disclosed. UAE approves use of China's Sinopharm vaccine for children aged 3 and over. UAE on Aug 02 announced 1,537 new Covid-19 cases, bringing the total confirmed cases in the country to 683,914. At the same time, 1,492 more patients have recovered from the virus, taking the tally of recoveries in the UAE to 661,156, UAE's Ministry of Health and Prevention said. It has reported 5 deaths from Covid19 during the past 24 hours. The nationwide death toll stands at 1,956. # GCC/MENA Saudi Arabia IHS Markit July composite PMI at 55.8 vs 56.4 in June. Saudi’s Communications and Information Technology Commission (CITC) signed an initial agreement with the Saudi Stock Exchange pushing for more listing of technology operators in the Kingdom on the Saudi stock market. Saudi Aramco with reference to recent reports claiming that company will embark on bitcoin mining activities, confirms that these claims are completely false and inaccurate.
4. Saudi Telecom posted quarterly net profit after zakat and tax SAR 2 ,821mln. Quarterly sales SAR 15,899mln. Saudi’s Bank Aljazira posted quarterly net profit SAR 251.2mln versus SAR 165.8mln year ago. Quarterly total income from special commissions/financing & investments SAR 722.6mln versus SAR 794.4mln year ago. Saudi’s National Agriculture Development Company updates on the announcement of signing an agreement of 30 MW solar energy project in Haradh. It is in the process of completing the construction works of the project. First phase will be completed at the end of August 2021, by operating 10 MW. Final phase of the project with a capacity of 30 MW will be completed at the end of October 2021. Saudi’s Ataa Educational update on MOU with Arabian Education and Training in relation to the potential acquisition of the full shareholders' shares of the company. Two parties agreed to amend the financial structure of the deal. Cash amount for the deal will be 60% of the transaction value, and the issued shares in Ataa Company will be 40% of the transaction value. Parties also agreed that the evaluation of the share price of Ataa Company for the purpose of this transaction will be SAR 44, representing the average closing of 90 trading days for the share price of Ataa company after signing the MOU. Qatar’s Communications Regulatory Authority issued order to direct Ooredoo Qatar and Vodafone Qatar to implement specific wholesale charges for 2021, 2022 and 2023. Wholesale charges are the price that telecom service providers pay to each other to interconnect and access their networks Kuwait has set a deadline on September 1 for pre-qualified companies to bid for two large Jurassic gas projects at the Northern border, a local newspaper reported on Monday. China’s Jereh Oil & Gas Engineering Corp has so far submitted the lowest bid of USD 490.6mln for the first package of the project, dubbed JPF-4. Kuwait’s IFA Hotels and Resorts’s unit signs joint project agreement to develop luxury housing project in Palm Jumeirah Dubai. Wzaki FZE buys 6.7% stake in Pioneers Holding Company for Financial Investments for EGP 351.6mln. Egypt’s Al Ahly Capital Holding reduced its stake in Alexandria Mineral Oils Company to 20.64% from 21.34%. The company sold 9.12mln shares for EGP 32.49mln, averaging EGP 3.56 per share, according to a statement to the Egyptian Exchange (EGX) on Sunday. Egypt’s EDITA Food Industries posted Q2 consolidated net profit attributable EGP 94.1mln versus EGP 11.3mln year ago. Q2 consolidated revenue EGP 1.15bln versus EGP 768.7mln year ago. Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian business
5. # UAE Focus list Company MCAP PRICE (AEDm) (AED) 52WH HIGH-LOW 52WL VALUATION PE PB (%)^ Div. 1M% HISTORICAL RETURN 3M% YTD% 12M% ADCB 48,980 7.14 7.57 4.98 10.38 0.88 3.8% 2.0 12.3 18.6 46.4 ADIB 20,376 5.59 5.68 3.59 10.97 1.04 3.7% 2.4 16.1 24.4 58.0 2,799 4.91 5.93 3.19 7.33 1.13 7.1% (4.1) 2.5 3.2 67.1 ADNIC ADNOC Dist. 54,500 4.35 5.01 3.01 22.41 15.67 4.7% 0.5 (3.8) 19.0 46.5 Agthia 4,924 6.25 7.32 2.70 75.93 1.87 2.6% 8.2 (1.3) 50.1 132.8 Air Arabia 6,253 1.37 1.42 1.07 NA 1.28 0.0% (0.7) 4.7 4.7 16.5 Ajman Bank 1,592 0.75 0.83 0.58 20.18 0.63 0.0% (0.7) 7.1 (2.8) 28.0 Waha 2,858 1.45 1.53 0.90 4.25 0.89 4.1% 5.8 26.7 28.8 64.5 Aldar 31,922 4.07 4.09 1.70 16.52 1.25 3.6% 7.1 15.7 33.9 143.9 Alpha Dhabi 292,200 28.82 30.18 15.00 NA NA NA NA NA NA NA Amanat 2,600 1.05 1.13 0.75 72.37 1.02 2.1% 5.1 14.9 26.8 21.9 Aramex 5,241 3.60 4.49 3.27 24.03 1.92 3.6% (9.4) (8.4) (15.5) 12.8 BOS 1,166 0.53 0.73 0.48 NA 0.34 0.0% (3.6) (4.3) (11.9) 4.8 Damac 7,381 1.25 1.75 0.81 NA 0.57 NA (4.7) 1.7 (6.2) 35.4 Dana Gas 6,142 0.89 0.90 0.64 42.61 0.77 6.2% 5.1 13.7 31.7 30.6 Deyaar 1,681 0.29 0.33 0.25 NA 0.39 0.0% (1.7) 9.0 3.6 5.8 DFM 8,480 1.06 1.29 0.80 66.96 1.09 0.0% (7.8) (0.0) 14.0 30.9 DIC 7,441 1.76 1.76 1.11 15.56 0.62 NA 2.9 13.6 26.9 61.4 DIB 35,407 4.93 5.15 3.78 14.81 0.96 4.1% 1.2 9.9 10.7 35.4 DU 30,370 6.70 7.22 5.05 22.18 3.62 4.2% (0.9) 2.6 19.0 34.7 Easy Lease 808 26.92 27.00 10.00 32.89 17.02 NA 7.7 34.7 53.1 - Emaar Dev. 15,000 3.75 3.94 2.06 8.38 1.25 0.0% 1.4 36.4 36.4 81.2 Emaar Malls 25,638 1.93 2.14 1.28 39.85 1.32 0.0% (2.0) 7.1 7.7 48.1 Emaar Pro. 28,854 3.98 4.29 2.55 11.71 0.52 2.5% (3.1) 8.0 17.2 60.9 ENBD 84,011 13.50 14.00 8.99 12.05 1.01 3.0% (0.7) 6.8 33.8 55.9 ESG 948 3.71 8.00 3.01 47.88 2.87 NA 0.3 NA NA NA Eshraq 814 0.35 0.46 0.29 NA 0.61 NA (1.1) 12.2 10.1 2.9 Etisalat 209,245 23.96 25.80 16.40 22.96 4.68 5.0% 8.4 13.6 47.8 50.2 FAB 180,835 16.72 17.14 10.82 16.43 1.71 4.4% (1.3) 16.3 35.1 59.6 GFH 2,898 0.76 0.81 0.53 12.75 0.79 2.2% (0.9) 20.0 30.3 37.5 290 0.28 0.55 0.28 NA 0.74 0.0% (2.7) (13.6) (31.3) (41.5) 240,246 132.00 139.00 32.10 48.20 24.96 NA 7.2 45.4 214.0 309.9 2,079 1.82 1.92 1.07 NA 2.37 0.0% 13.2 13.2 35.3 59.3 Gulf Nav. IHC Julphar Mashreq 10,687 60.00 71.00 60.00 NA 0.55 6.7% (10.1) (7.4) (11.3) (11.5) NBF 9,536 4.98 NA NA NA NA 1.9% NA NA NA NA Palms Sports 1,779 11.40 20.00 4.30 21.42 7.56 NA (2.8) (12.8) (10.2) NA RAK Bank 6,536 4.09 4.24 3.36 13.00 0.83 3.7% (4.9) - (0.0) 13.0 RAK Pro. 1,390 0.69 0.71 0.37 8.39 0.35 5.8% 9.3 29.4 44.8 83.4 RAK Cer. 2,295 2.31 2.45 1.24 NA 1.07 3.2% 4.1 21.6 61.0 85.8 995 0.82 0.97 0.59 6.22 1.14 10.1% (0.4) 1.4 7.0 56.6 SIB 4,900 1.58 1.60 1.11 11.03 0.64 5.1% 7.4 16.1 27.6 50.4 Shuaa 1,978 0.80 0.79 0.54 4.66 1.30 3.8% 27.7 24.4 20.2 48.6 Tabreed 7,634 2.75 3.15 1.92 14.06 1.48 2.1% (1.4) (4.8) 8.2 43.4 Salama TAQA 143,916 1.26 1.78 1.25 31.71 2.28 2.0% (6.6) (5.5) (10.1) (1.7) Union Pro. 1,051 0.24 0.36 0.23 3.20 0.36 0.0% (7.5) (7.2) (12.5) (14.9) UAB 1,541 0.75 0.89 0.59 NA 1.07 0.0% NA (10.0) (12.0) (16.4) Zee Store 988 9.69 15.00 7.95 NM 6.12 NA (Source Bloomberg) ^ current dividend yield based on latest dividend declaration (0.0) (1.2) (5.9) NA
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