UAE: Daily Market Trading Report - 6 October

Transcription

1. Morning Report 06 October 2022 Market Stats Indices ADX DFM TASI QSI BKM MSX BHSEASI EGX DJI S &P 500 Nasdaq FTSE DAX CAC40 Nikkei225 HIS MSCI EM MSCI Asia US Fut. EU Fut. UAE Trading Summary Close Chg. 1M Chg. 3M Chg. YTD Chg. 1Y Chg. 9,866 -0.1% 2% 7% 17% 29% AEDm Buy Sell Net ADX 1,332 1,332 - 3,353 11,770 13,003 5,396 4,575 1,884 10,011 30,274 3,783 11,149 7,053 12,517 5,985 27,121 17,984 910 145 3,810 3,482 -0.8% -0.1% -0.2% 0.3% -0.2% 0.2% 0.9% -0.1% -0.2% -0.3% -0.5% -1.2% -0.9% 0.7% -0.5% 1.8% 0.4% 0.4% 1.2% 0% -3% 0% -7% -1% -2% -2% -3% -4% -4% -3% -2% -2% -2% -6% -6% -6% -3% -2% 7% 4% 6% -5% 11% 0% 16% -2% -1% -2% 0% 1% 3% 3% -17% -8% -8% -2% -1% 5% 4% 12% -8% 11% 5% -16% -17% -21% -29% -4% -21% -16% -6% -23% -26% -25% -20% -20% 20% 2% 13% -5% 16% 11% -4% -12% -13% -23% 0% -18% -9% -3% -25% -26% -25% -12% -14% Local Foreign Institutional Retail DFM Local Foreign Institutional Retail Total Local Foreign 72% 28% 66% 34% 276 39% 61% 57% 43% 1,608 67% 33% 82% 18% 65% 35% 276 56% 44% 57% 43% 1,608 78% 22% -10% 10% 1% -1% 17% 17% Notes: TASI (KSA), QSI (Qatar), BKM (Kuwait), MSX(Oman), BHSEASI (Bahrain), EGX (Egypt), HSI (Hong Kong). Last Trading Day's Top Short Positions Company Short Interest (Short shares/Out. shares) Close (AED) Change (%) 52WH High – Low 52WL 0.041% 0.027% 0.018% 0.49 0.75 0.38 (4.7) 0.1 (0.8) 0.88 0.97 0.64 0.47 0.56 0.36 Eshraq RAKPROP Manazel Upcoming Corporates Actions & Events Date Company Event 06-Oct 07-Oct 07-Oct 10-Oct 20-Oct 25-Oct 09-Nov 09-Nov 13-Nov ADNOC Distribution Fertiglobe Aldar DEWA BOS Alliance GFH SALAM (BAH) ITHMR Ex-Dividend Date Ex-Dividend Date BOD/General General Assembly General Assembly General Assembly BoD/Result BoD/Result BoD/Result 0% 0% -11% 11%
2. # KEY STORIES UAE Central Bank balance sheet rose to AED 495.54bln in July, a YoY increase of 4.2 percent, compared with AED 475.61bln in July 2021 TAQA enters into definitive agreements with Waldorf Energy Netherlands BV for the sale of its upstream oil and gas business in the Netherlands Eshraq Investments announced that its subsidiary, Goldilocks Investment Company, has acquired a 51% stake in NCM Investment AMAN announced that the Dubai Court ruled in favor of company to recover AED 11.3mln from former management Ajman Bank has signed a partnership agreement with VaultsPay, a Fintech Company, to build and implement a highly innovative payment Aramex, announced that it has successfully completed the pilot phase of its “Future Delivery Program” in Muscat, Oman Shelf Drilling announces completion of the acquisition of five premium jack-ups ENBD Long-Term Foreign Currency Rating and Short-Term Foreign Currency Rating of at 'A+' and 'A1', respectively, is affirmed by Capital Intelligence Ratings UAE on Oct 5 announced 344 new Covid-19 cases and 322 recoveries. The tally takes total cases in UAE to 1,029,426 with 1,008,493 recoveries and 2,346 deaths Saudi’s CMA greenlighted Middle East Paper Company capital increase to SAR 666.7mln from SAR 500.0mln through bonus shares Saudi’s Al Babtain Power and Telecommunication Company’s Egypt-based subsidiary, signed a contract valued at USD 24mln with Elsewedy Electric T&D Saudi’s Anaam International Holding Group has recommended a capital hike through a rights issue worth SAR 157.5mln Kuwait’s HEISCO wins lowest price on Kuwait Oil Co's tender for water facilities upgradation project Kuwait Finance House will be listed in Bahrain bourse starting from 6 October 2022 Oman Fisheries completes formalities for 30 year usufruct agreement for sites in Ghala, Al Ashkharah and Soqra Egypt's CAD dropped to USD 16.6bln in fiscal year 2021-22 from USD 18.4bln in the previous year - Central Bank Egypt’s Misr Chemical Industries co shareholders approve EGP 1.5 per share FY dividend Egypt’s Nasr Company for Civil Works receives EGP 115mln contract for works related to project Janna in Sheikh Zayed City Egypt's ADIB ordinary general meeting approved an EGP 1bln increase in the bank's issued and paid-up capital # Key Global Trends/ Market Clues Asian shares were cautiously higher on Thursday, while the dollar eased ahead of U.S. non-farm payrolls data, and oil prices gained for a fourth day after deep production cuts pledged by OPEC+ members. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4% in early Asia trade, as U.S. futures gained. The index is up 4% this week after falling 13% in September. Japan's Nikkei stock index climbed 0.7% to its highest level since September, South Korea advanced 1.2% and Australia edged 0.1% higher. Hong Kong's Hang Seng index, on the other hand, fell 0.5%. S&P 500 futures advanced 0.6%, and the Nasdaq futures gained 0.9%, building on a late rebound in U.S. stocks which helped limit earlier losses. The S&P 500 finished
3. Wednesday 0 .20% lower and the Nasdaq Composite ended down 0.25%. Mainland Chinese markets remain closed for holidays. Earlier this week, U.S. economic data suggesting that the labor market and economy were slowing but those hopes were dashed after a slightly aboveforecast report from the Institute for Supply Management showed a rebound in the employment index for the U.S. services sector. U.S. non-farm payrolls data is due on Friday and analysts polled by Reuters expect 250,000 jobs were added last month and unemployment to come in at 3.7%. The dollar eased 0.2% against a basket of major currencies on Thursday, after climbing 0.7% overnight on hawkish comments from Fed officials. U.S. Treasury yields were largely steady after jumping overnight. The yield on benchmark ten-year notes eased 2 basis points to 3.7368%. Oil prices rose for a fourth session on Thursday, with Brent at a three-week high, after OPEC+ agreed to further tighten global crude supply with a deal to slash production by about 2mln barrel per day, the largest reduction since 2020. Brent crude futures for December settlement rose 22 cents, or 0.2%, to USD 93.59 per barrel after settling 1.7% higher in the previous session. U.S. WTI crude futures for November delivery gained 22 cents, or 0.3%, to USD 87.98 per barrel, building on a 1.4% rise. The agreement between the OPEC and allies including Russia, a group known as OPEC+, comes ahead of a European Union embargo on Russian oil and would squeeze supplies in an already tight market, adding to inflation. Given that production at some of the OPEC+ countries are below target levels, the actual cut would be smaller than the 2 mln bpd reduction agreed to at the meeting. Saudi Energy Minister mentioned that the real supply cut would be about 1mln to 1.1mln bpd and they were in response to rising interest rates in the West and a weakening global economy. More than half of the 1mln bpd supply cut is expected to come from world's top exporter Saudi Arabia # UAE Stories UAE Central Bank balance sheet rose to AED 495.54bln in July, a YoY increase of 4.2 percent, compared with AED 475.61bln in July 2021. TAQA enters into definitive agreements with Waldorf Energy Netherlands BV for the sale of its upstream oil and gas business in the Netherlands. TAQA Energy BV will sell 100% of its ownership in the upstream oil and gas business in the Netherlands and transaction remains subject to obtaining applicable regulatory and other third-party approvals. Eshraq Investments announced that its subsidiary, Goldilocks Investment Company, has acquired a 51% stake in NCM Investment - Kuwait from AMWAL International Investment Company. The transaction is expected to conclude in the last quarter of 2022 NCM Investment is a forex, commodity, and index trading company. AMAN announced that the Dubai Court ruled in favor of company to recover AED 11.3mln from former management amount will have a positive impact on financial statements this year. Ajman Bank, has signed a partnership agreement with VaultsPay, a UAE Fintech Company to build and implement a highly innovative payments value proposition for businesses and individuals in the UAE. Aramex, announced that it has successfully completed the pilot phase of its “Future Delivery Program” in Muscat, Oman. The test flights were conducted in partnership with US-based UVL Robotics, a technological leader offering cutting-edge drone-based solutions with AI for logistics. Shelf Drilling announces completion of the acquisition of five premium jack-ups. The Company announces that, following successfully securing USD 130mln of equity financing and USD 250mln of senior secured debt financing as well as a further contribution from the Company of USD 70mln from cash on hand, Shelf Drilling North Sea has completed the acquisition.
4. ENBD Long-Term Foreign Currency Rating and Short-Term Foreign Currency Rating of at 'A+' and 'A1', respectively, is affirmed by Capital Intelligence Ratings. UAE on Oct 5 announced 344 new Covid-19 cases, bringing the total confirmed cases in the country to 1,029,426. At the same time, 322 more patients have recovered from the virus, taking the tally of recoveries in the UAE to 1,008,493, UAE's Ministry of Health and Prevention said. It has reported 0 death from Covid-19 during the past 24 hours. The nationwide death toll stands at 2,346. # GCC/MENA Saudi’s CMA greenlighted Middle East Paper Company’s capital increase to SAR 666.7mln from SAR 500.0mln through bonus shares. The hike process will be carried out by capitalising SAR 166.7mln from the retained earnings account after issuing one bonus share for every three owned shares. Saudi’s Al Babtain Power and Telecommunication Company’s Egypt-based subsidiary, signed a contract valued at USD 24mln with Elsewedy Electric T&D.The 12-month deal aims to supply galvanised steel towers 400 kV for three transportation lines project in Morocco. Saudi’s Anaam International Holding Group has recommended a capital hike through a rights issue worth SAR 157.5mln, according to a bourse disclosure. In line with its growth plans, the company will use the increase proceeds to finance its working capital, reduce loan rates, and boost business operations. Kuwait’s HEISCO wins lowest price on Kuwait Oil Co's tender for water facilities upgradation project. The tender amount KWD 18.4mln. Kuwait Finance House will be listed in Bahrain bourse starting from 6 October 2022. Oman Fisheries completes formalities for 30-year usufruct agreement for sites in Ghala, Al Ashkharah and Soqra. Egypt's current account deficit dropped to USD 16.6bln in fiscal year 2021-22 from USD 18.4bln in the previous year -Central Bank Egypt’s Misr Chemical Industries co shareholders approve EGP 1.5 per share FY dividend. Egypt’s Nasr Company for Civil Works receives EGP 115mln contract for works related to project Janna in Sheikh Zayed City. Egypt’s ADIB ordinary general meeting approved an EGP 1bln increase in the bank's issued and paid-up capital, according to a filing to the Egyptian Exchange (EGX). *Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian business
5. # UAE Focus List MCAP PRICE (AEDm) (AED) 52WH 52WL PE PB (%)^ ADCB 65,051 9.35 11.30 7.49 12.41 1.22 4.0% ADIB 34,322 9.45 10.46 5.59 14.24 1.68 3.3% 3,414 5.99 7.63 5.22 10.04 1.32 6.7% ADNOC Dist. 56,125 4.49 4.88 3.80 21.08 15.89 ADNOC Drill* 55,680 3.48 3.92 2.82 21.61 5.32 AD Ports Company ADNIC HIGH-LOW VALUATION Div. TOTAL RETURN ** 1M% 3M% YTD% 12M% 3.0 7.0 13.5 27.7 10.7 24.3 42.3 73.3 0.7 (4.2) (5.6) 20.8 4.6% 3.9 9.2 7.8 10.4 4.3% 0.0 5.5 6.8 - 27,486 5.40 6.87 3.22 32.52 1.46 - 6.7 0.6 - - Agthia 3,800 4.80 6.28 4.20 NM 1.36 3.4% (1.2) (3.7) (2.5) (11.8) Air Arabia 9,520 2.04 2.36 1.31 8.45 1.48 4.2% (6.4) (0.0) 48.2 64.1 Ajman Bank Aldar Alpha Dhabi 1,514 0.72 0.91 0.66 11.72 0.60 - (1.3) 4.3 (11.4) 7.4 34,124 4.34 5.79 3.92 12.52 1.17 3.5% (7.3) 2.1 11.9 11.4 243,600 24.36 29.00 23.78 NA NA - (2.3) (4.9) (10.8) (9.1) Amanat 2,375 0.95 1.27 0.89 21.16 0.88 6.3% (2.6) (0.0) (13.0) (9.0) Aramex 5,534 3.78 4.80 3.54 32.68 2.19 3.4% (3.1) 3.3 (5.4) 8.4 ASM 9,150 9.15 16.44 8.97 NM 1.35 - (10.3) (10.6) (34.2) (38.5) 85,364 2.84 3.27 2.78 15.2 4.68 - (2.4) (0.7) - - BOS 1,166 0.53 0.76 0.49 - - - - - (14.5) 1.0 Dana Gas 6,506 0.93 1.27 0.92 6.13 0.77 8.6% 4.2 (3.5) (4.6) (0.4) 125,000 2.50 3.05 2.48 20.41 1.42 5.0% (3.1) (2.0) - - Borouge* DEWA* Deyaar 2,039 0.47 0.73 0.37 19.58 0.46 - (10.9) 0.9 (27.7) 19.7 DFM 11,440 1.43 3.05 0.98 NM 1.46 2.1% (15.9) (10.5) (49.6) 37.6 DIC 9,907 2.33 2.64 1.63 14.54 0.83 5.2% (1.6) 11.1 30.3 47.1 DIB 43,734 6.04 6.63 4.90 9.13 1.11 4.1% 5.6 10.2 17.3 28.8 DU 26,563 5.86 7.28 5.67 21.81 3.07 3.6% (3.8) 3.6 (9.0) (8.6) Easy Lease 1,131 37.70 61.90 24.00 26.15 10.83 - (8.7) (1.0) 30.0 (11.8) Emaar Dev. 18,680 4.67 5.32 3.75 4.76 1.12 - 2.9 13.3 6.9 24.5 Emaar Pro. 48,588 5.94 6.60 3.92 6.58 0.76 2.5% (0.5) 19.4 25.7 56.8 ENBD 81,168 12.85 15.50 11.80 8.72 0.95 3.9% 0.4 5.4 (2.4) 2.5 1,443 5.77 11.80 5.30 NM 2.42 - (5.9) (16.9) (27.9) (26.7) Etisalat 209,245 24.06 39.06 22.66 22.35 4.44 3.3% (1.8) (5.1) (22.2) 1.4 FAB 199,078 18.02 24.06 17.16 13.40 1.79 2.7% (1.7) (2.6) (1.1) 7.4 48,065 5.79 6.11 2.92 10.14 5.69 6.9% 5.3 21.9 70.8 - 3,603 0.97 1.34 0.71 9.77 0.91 4.5% (11.9) (0.7) (14.3) 38.3 ESG Fertiglobe* GFH Ghitha 16,550 68.50 123.00 24.00 NA 8.56 - (16.5) (13.8) 149.1 96.3 654,650 359.50 370.00 144.50 71.73 26.87 - 5.4 24.4 136.5 144.6 Invictus 4,245 3.79 6.50 3.55 - - - (4.8) - - - Julphar 1,409 1.22 2.14 1.15 - 1.48 - (5.4) (6.2) (33.7) (30.7) Mashreq 20,763 103.50 115.00 62.10 8.96 1.03 1.0% 40.6 29.4 30.2 67.1 Multiply 36,512 3.26 3.48 1.51 NA 3.47 - 55.2 84.2 77.2 NA NMDC IHC 19,982 24.22 34.96 12.36 17.02 3.47 - (6.8) (13.2) 85.7 73.0 Palms Sports 1,440 9.60 16.00 9.00 13.76 3.83 - (8.6) (7.7) (21.4) (32.8) RAK Bank 8,045 4.80 5.40 3.87 8.18 0.97 4.7% - 6.7 6.7 23.4 RAK Pro. 1,498 0.75 0.97 0.56 13.97 0.36 - (6.4) 15.4 (2.9) 11.3 RAK Cer. 2,882 2.90 3.38 2.66 NM 1.34 6.9% (2.4) 9.4 8.9 13.2 RPM 1,274 6.37 15.40 6.16 17.42 4.82 - (18.8) (19.1) (34.0) NA SIB 6,163 2.00 2.12 1.65 10.51 0.81 4.0% 4.2 19.8 6.7 22.4 999 0.39 0.83 0.35 - 0.80 - (15.3) (20.2) (42.5) (41.4) 8,337 2.93 3.41 2.27 15.55 1.38 2.0% 2.1 4.6 21.5 18.3 TAQA 292,329 2.60 2.67 1.13 39.57 4.35 1.8% 111.4 114.1 103.9 118.0 Waha 2,769 1.39 1.82 1.24 12.19 0.80 5.4% 7.8 (0.7) (12.6) (12.6) Shuaa Tabreed Yahsat * 6,587 2.70 2.92 2.51 21.09 2.05 5.9% 1.2 8.7 4.5 8.0 (Source Bloomberg) ^ Current dividend yield based on latest dividend declaration. * Expected dividend. ** Including dividend
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