UAE: Daily Market Trading Report - 7 February

Transcription

1. 07 February 2021 Morning Report # Market Stats Indices # UAE Trading Summary Close 1M 3M Change Change Change 1Y Change AEDm Buy Sell Net ADX 5,664 -0.2% 10.7% 20.8% 11.2% ADX 489 489 DFM 2,671 -1.5% 3.6% 24.0% -3.5% Local 64% 60% 3% TASI 8,618 0.9% -0.6% 6.5% 5.9% Foreign 36% 40% -3% BHSEASI - 1,461 -0.2% -1.5% 1.4% -12.2% Institutional 74% 76% -2% EGX 11,599 -0.2% 7.3% 9.9% -16.6% Retail 26% 24% 2% Dow Jones 31,148 0.3% 2.5% 9.7% 6.3% DFM 264 264 S&P 500 3,887 0.4% 4.3% 10.7% 16.6% Local 68% 49% 19% Nasdaq 13,856 0.6% 8.1% 16.5% 45.7% Foreign 32% 51% -19% 6,489 -0.2% -1.9% 9.9% -13.3% Institutional 21% 55% -34% 14,057 0.0% 3.0% 11.8% 4.3% Retail 79% 45% 34% 5,659 0.9% 1.7% 13.5% -5.4% Total 753 753 - Nikkei225 28,779 1.5% 6.0% 19.4% 23.4% Local 66% 56% 9% HIS 29,289 0.6% 5.9% 14.0% 9.3% Foreign 34% 44% -9% 1,395 0.6% 5.7% 19.6% 28.1% 213 0.8% 4.7% 17.5% 26.9% FTSE 100 DAX CAC40 MSCI EM MSCI Asia - # Last trading day's short sell positions Company Short Volume (shrs.) Short Volume (%) Aldar (414,073) 1.2% 34.2 130.7 FAB (57,559) 0.6% 9.6 143.0 Etisalat (52,818) 3.9% 1.4 27.2 ADSB (31,601) 13.6% 0.2 0.5 ADCB (12,000) 0.5% 2.5 16.9 # Upcoming Corporate Actions & Events Date Company Event 8-Feb UAB BoD/Results 8-Feb DU BoD/Results 8-Feb DSI BoD/Results 9-Feb MSCI 1Q21 Index Announcment Date 9-Feb Aramex BoD/Results 10-Feb Air Arabia BoD/Results Volume (m) Turnover (AEDm)
2. # Key Stories ADX announced that it is reducing overall trading activity fees on all exchange transactions starting February 14th. Fees of all transactions are to be reduced by more than 22pct to 0.175pct from 0.225pct Aramex enters a definitive and binding agreement to sell Infofort to Iron Mountain. Expected gain from the disposal ranges between USD 6mln to USD 9mln Palms Sports posted FY profit AED 83mln vs AED 76.7mln year ago. FY revenue from contract with customers AED 291.2mln vs AED 308.7mln year ago Arabtec Holding announce the resignation of Eng. Wail Farsakh as group CEO of Arabtec Holding ENBD REIT property portfolio value stands at USD 366mln as of Dec 20, down from USD 377mln in Sep 20. NAV declines 4.8% due to continued pressure on market valuations Orient Insurance posted FY net profit AED 430.4mln vs AED 425.1mln year ago. FY gross premium AED 4.25bln vs AED 3.88bln year ago. UAE has administered more than 4.0mln doses of COVID-19 vaccines and achieved a distribution rate of 40.53 doses per every 100 people Denmark will lift a ban on flights coming from the UAE from today, the UAE embassy to Denmark said Abu Dhabi has brought back some restrictions on workplace capacities and leisure activities, including shutting cinemas, to curb a rise in COVID-19 cases UAE on February 06 announced 3,276 new COVID-19 cases and 4,041 recoveries. The tally takes total cases in UAE to 323,402 with 301,081 recoveries and 914 deaths Saudi’s Aramco raised its March official selling price for its Arab Light crude to Northwest Europe by USD 1.40 a barrel from the previous month, setting it at a discount of USD 0.50 per barrel against Brent Saudi Ceramic recommends to increase the capital by granting bonus shares Qatar re-imposed a raft of restrictions on education, leisure and business activities, including theme parks and restricting restaurant capacities Kuwait needs to accelerate reforms to reduce the dependence of government policies on the rise and fall of oil prices – IMF Bahrain will reintroduce restrictions from today for two weeks to prevent the spread of the novel coronavirus after a sharp rise in cases over the past month Egypt's central bank kept its key interest rates on hold on Thursday, saying inflation was below target and leading indicators showed the economy had recovered in the last quarter Egypt’s Emaar Misr for Development signs contract with Orascom Construction for hotel project for contract cost EGP 975mln
3. # Key Global Trends/ Market Clues A gauge of global equity markets scaled a new record on Friday on investor expectations of further stimulus from Washington and economic revival hopes that also lifted crude oil prices to nearly USD 60 a barrel. MSCI's all-country world index, which captures equity performance in 50 countries but is heavily weighed to U.S. stocks, especially big tech, rose 0.62% to cap its best week in three months, a gain of 4.35%. The Nasdaq and S&P 500 also hit new highs as stronger-than-expected corporate results in the fourth quarter and companies on track to post earnings growth for the first quarter instead of a decline also have boosted sentiment. The Dow Jones Industrial Average rose 0.3%, the Nasdaq Composite added 0.57% and the S&P 500 gained 0.39%, led by Amazon and Google-parent Alphabet Inc. Oil prices rose about 1% on Friday, after hitting their highest in a year and closing in on USD 60 a barrel, supported by economic revival hopes and supply curbs by producer group OPEC and its allies. Oil was also supported as U.S. stock markets hit record highs on signs of progress toward more economic stimulus, while a U.S. jobs report confirmed the labor market was stabilizing. Brent crude ended the session up 50 cents, or 0.9%, at USD 59.34 after hitting its highest since Feb. 20 at USD 59.79. U.S. crude settled up 62 cents, or 1.1%, at USD 56.85, after reaching USD 57.29, its highest since Jan. 22 last year. Kazakhstan produces 5.9mln tons of oil in Jan, 111% compliant with OPEC+ obligations - Energy Ministry. # UAE Stories ADX announced that it is reducing overall trading activity fees on all exchange transactions starting Sunday, February 14th as part of its "ADX One" strategy to double the market capitalisation of companies listed on the exchange in the next three years. Under the new initiative, fees of all transactions that occur on ADX are to be reduced by more than 22pct to 0.175pct from 0.225pct, effective February 14. As part of the new fee structure, ADX has created an incentive plan, applied on an annual basis, for brokerage firms who generate AED 20mln worth of trading commission. Firms that fulfill the annual incentive requirement will be exempt from paying any trading commission to ADX for the year in which the threshold is met. Aramex enters a definitive and binding agreement to sell Infofort to Iron Mountain. Upon completion of the transaction, Aramex will cease to be a shareholder in Infofort. Total value of the disposed assets will be disclosed upon completion of the transaction in accordance with the conditions of the SPA, noting that the expected gain from the disposal ranges between USD 6mln to USD 9mln. The agreement is expected to conclude in 3Q20. Palms Sports posted FY profit AED 83mln vs AED 76.7mln year ago. FY revenue from contract with customers AED 291.2mln vs AED 308.7mln year ago. Arabtec Holding announce the resignation of Eng. Wail Farsakh as group CEO of Arabtec Holding. ENBD REIT property portfolio value stands at USD 366mln as at 31st December 2020, down from USD 377mln in September 2020. NAV declines 4.8% due to continued pressure on market valuations. Orient Insurance posted FY net profit AED 430.4mln vs AED 425.1mln year ago. FY gross premium AED 4.25bln vs AED 3.88bln year ago. The UAE has administered more than 4.0mln doses of COVID-19 vaccines and achieved a distribution rate of 40.53 doses per every 100 people. Denmark will lift a ban on flights coming from the UAE from today, the UAE embassy to Denmark said. Abu Dhabi has brought back some restrictions on workplace capacities and leisure activities, including shutting cinemas, to curb a rise in COVID-19 cases. Only 30% of employees will be allowed to attend workplaces at Abu Dhabi government and semi-government entities and all employees must undertake a weekly PCR test unless they have been vaccinated, Abu Dhabi media office said on Saturday. Workers that can do their jobs remotely, and those over 60 or with health conditions,
4. must work from home . Capacities at malls, gyms and restaurants have also been reduced, local newspaper The National reported, citing a notice issued to businesses in Abu Dhabi. The United Arab Emirates on February 06 announced 3,276 new COVID-19 cases, bringing the total confirmed cases in the country to 323,402. At the same time, 4,041 more patients have recovered from the virus, taking the tally of recoveries in the UAE to 301,081. UAE's Ministry of Health and Prevention said. It has reported 12 deaths from COVID-19 during the past 24 hours. The nationwide death toll stands at 914. # GCC/MENA Saudi Arabia's state oil producer Aramco raised its March official selling price for its Arab Light crude to Northwest Europe by USD 1.40 a barrel from the previous month, setting it at a discount of USD 0.50 per barrel against ICE Brent, according to a document seen by Reuters on Thursday. The company kept its Arab Light OSP for Asian customers unchanged from the previous month at a premium of USD 1 a barrel versus the Oman/Dubai average. The OSP to the United States was set at a premium of USD 0.85 a barrel to the Argus Sour Crude Index (ASCI) for March, USD 0.10 above February's premium. Saudi Ceramic recommends to increase the capital by granting bonus shares. Capital after increase SAR 800mln. The company to grant one shares for every three shares owned and increase will be made by capitalizing an amount of SAR 200mln riyals from retained earnings. Qatar on Thursday re-imposed a raft of restrictions on education, leisure and business activities, including closing indoor swimming pools and theme parks and restricting restaurant capacities. Kuwait needs to accelerate reforms to reduce the dependence of government policies on the rise and fall of oil prices, an International Monetary Fund (IMF) official said. Bahrain will reintroduce restrictions from today for two weeks to prevent the spread of the novel coronavirus after a sharp rise in cases over the past month. The kingdom has ordered indoor gyms, sports halls and swimming pools to close and social gatherings in homes to be limited to up to 30 people until Feb. 21, state news agency BNA reported on Friday. Egypt's central bank kept its key interest rates on hold on Thursday, saying inflation was below target and leading indicators showed the economy had recovered in the last quarter of 2020. The bank's monetary policy committee held the overnight lending rate at 9.25% and the overnight deposit rate at 8.25% for a second consecutive time after cutting rates in September and November. Egypt’s Emaar Misr for Development signs contract with Orascom Construction for hotel project for contract cost EGP 975mln. Project includes four star hotel with 214 rooms and suites. (Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian Business)
5. # UAE Focus list Company MCAP PRICE (AEDm) (AED) HIGH - LOW 52WH 52WL VALUATION TTM P/E DIV HISTORICAL RETURN TTM P/B YLD (%)^ 1M% 3M% 6M% ADCB 45,710 6.57 7.83 3.82 12.01 0.81 4.1% 7.9 14.1 30.9 ADIB 17,906 4.93 5.77 3.19 11.37 0.94 5.6% 4.4 7.9 33.2 (7.2) 2,839 4.98 5.17 2.95 7.62 1.20 6.0% (2.4) 24.5 58.1 66.0 34.0 ADNIC ADNOC Dist 12M% (9.5) 48,250 3.86 3.96 2.40 23.23 17.37 4.9% (1.8) 16.3 26.7 Agthia 3,931 5.46 5.59 2.50 110.46 1.75 2.7% 28.2 24.7 98.5 74.2 Air Arabia 5,693 1.22 1.61 0.87 NA 1.39 7.4% (6.2) 11.9 7.0 (10.8) Ajman Bank 1,577 0.75 0.90 0.50 57.15 0.63 0.0% (3.6) 10.4 29.3 (12.8) Al Waha Capital 2,431 1.25 1.29 0.62 NA 0.80 NA 12.6 19.0 36.2 36.6 Aldar Properties 30,192 3.84 3.88 1.35 16.97 1.21 3.8% 19.6 47.1 122.0 87.6 Amanat Holdings 1,983 0.79 0.92 0.56 134.86 0.80 2.8% (3.8) 3.0 (5.7) 1.9 369 0.25 0.48 0.20 NA 0.75 0.0% (3.5) (6.5) (29.1) (44.6) Aramex 6,486 4.43 4.49 2.00 17.99 2.54 3.7% (0.4) 10.7 34.7 26.1 Bank of Sharjah 1,338 0.64 0.83 0.50 NA 0.41 0.0% 0.3 27.4 20.2 (20.9) DAMAC Properties 8,107 1.34 1.75 0.36 NA 0.62 NA (2.2) 22.9 52.6 Dana Gas 4,939 0.71 0.93 0.53 NA 0.63 7.8% (0.1) 7.0 Deyaar Development 1,699 0.29 0.35 0.18 46.37 0.37 0.0% 5.0 Dubai Financial Market 9,200 1.15 1.29 0.50 66.71 1.18 0.0% 21.1 Dubai Investment 6,633 1.56 1.72 0.98 10.75 0.56 NA 2.0 Dubai Islamic Bank 36,276 5.01 5.76 3.04 9.57 0.97 7.0% DXB Entertainments 648 0.08 0.20 0.08 NA 0.57 0.0% Easy Lease 660 22.00 24.50 10.00 26.86 13.90 NA 10.0 - - Emaar Dev 11,520 2.88 3.97 1.79 5.79 1.05 0.0% 1.8 29.7 37.1 Emaar Malls 23,165 1.78 1.99 0.98 20.32 1.22 0.0% (5.8) 26.2 33.8 1.1 Emaar Properties 27,493 3.84 4.22 1.90 6.56 0.49 0.0% 1.9 49.4 46.6 (4.0) Emirates Integrated Tele 30,370 6.70 6.88 4.33 16.59 3.57 5.1% 16.1 23.6 31.9 15.1 Emirates NBD 73,273 11.60 13.55 6.33 11.60 0.87 3.4% 5.9 23.1 27.2 (8.7) 730 0.31 0.46 0.16 NA 0.52 NA (2.2) 3.0 Etisalat 172,370 19.82 20.98 11.02 19.28 3.68 4.0% 15.6 17.0 19.8 First Abu Dhabi Bank 162,490 14.88 15.10 7.78 15.39 1.49 5.0% 12.4 28.3 34.8 4.7 2,299 0.64 0.93 0.45 18.24 0.66 5.3% 3.4 14.6 10.8 (24.9) Amlak Finance Eshraq Investments GFH Gulf Navigation Holding IHC Julphar 96.2 (1.9) (15.7) 8.9 2.1 (15.3) 41.5 39.4 26.7 36.8 34.5 29.5 7.5 22.8 32.2 (3.7) (4.7) (29.6) (35.7) (55.0) (8.7) (24.6) 1.9 29.6 369 0.36 0.55 0.28 NA 0.70 0.0% (15.6) (11.1) (26.4) 83,931 46.08 47.96 12.86 27.79 10.73 NA 9.6 12.4 43.3 247.5 (24.4) 1,906 1.65 1.65 0.54 NA 1.74 0.0% 17.9 10.7 52.8 97.7 11,974 67.45 72.05 62.00 18.15 0.57 5.9% (0.7) (0.8) (0.8) (4.2) National Bank of Fujairah 9,536 4.98 4.98 4.98 NA NA 1.9% NA NA NA 3.3 Tabreed 7,495 2.76 2.95 1.67 14.58 1.51 3.8% 2.6 4.2 38.0 32.7 RAK Bank 6,621 3.95 4.95 3.33 9.57 0.86 3.8% 1.3 11.3 14.2 (13.0) RAK Properties 1,126 0.56 0.64 0.33 10.35 0.29 7.1% 14.9 48.2 47.4 41.3 RAK Ceramics 1,640 1.65 1.81 1.24 19.93 0.71 8.7% 10.0 17.0 23.1 14.8 979 0.81 0.92 0.30 6.27 1.13 NA (4.1) 8.9 36.1 65.1 Sharjah Islamic Bank 4,222 1.37 1.40 0.95 10.40 0.55 3.5% 3.8 17.1 22.3 17.8 SHUAA Capital 1,813 0.72 0.84 0.40 17.02 1.27 NA 3.9 17.2 28.8 237 1.58 1.60 1.18 NA 1.90 5.2% 0.0 10.5 9.7 15.3 164,154 1.46 1.78 0.50 106.39 2.64 0.0% 2.1 3.2 6.1 103.5 1,171 0.27 0.39 0.15 4.06 0.38 0.0% (2.8) 3.0 (20.2) 36.5 0.81 NA 1.00 0.0% (4.9) (9.7) (9.7) Mashreqbank SALAMA Takaful Emarat Insurance TAQA Union Properties United Arab Bank 1,664 0.81 0.90 Source: Bloomberg ^ Current dividend yield based on latest dividend declaration (8.7) (0.6)
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