UAE Market Brief - 2 April

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1. x THE YEAR OF ZAYED - FATHER OF THE NATION April 2 , 2018 ' Progress and renaissance are not measured by buildings of cement and steel but by developing people and everything that makes the citizen happy and secures him a decent life. '' Skh. Zayed Bin Sultan Al Nahyan UAE UAE banks have been directing focus to bonds, which rose their investment in the sector to AED69.3bln by end of Feb. Damac Properties has hired banks including Barclays and HSBC for a possible sale of U.S. dollar-denominated sukuk. Sharjah Group approved distribution of 7 fils/share, the total value of the suggested distribution amounts to AED5.523m. Naeem Holding shareholders nod to capital increase to AED883.35m from AED802.91m via distribution of bonus shares. Value of real estate transactions logged in Dubai reached AED 51.5 billion, generated through 12,749 deals closed in Q1. SIB'S DISTRIBUTED (for March) PROFIT RATES Watany Investment a/c. 0.16071% Savings Investment a/c. 0.64286% UNRESTRICTED INVESTMENT DEPOSITS (AED) 1month 3months 6 months 9 months 1 year 1.1250% 1.76786% 1.92857% 2.08929% 2.25% CUSTOMER WAKALA DEPOSIT RATES 1 month 1.50% 6 months 2.25% 3 months 2.00% 1 year 2.50% DFM General Index : 3-Apr-18 EIBOR VALUE 1 month 1.87117 1.88313 2 months - 1.99944 3 months 2.30500 2.31175 6 months 2.61417 2.45240 1 year 2.78933 2.66263 STOCKS - DFM Emaar Properties OPEN LIBOR VALUE CLOSE % CHG 5.80 5.80 0.00 3500 Arabtec 2.230 2.280 2.24 3425 DP World ($) Air Arabia 22.50 22.51 0.04 1.140 1.160 1.75 3350 Amlak Finance 0.824 0.827 0.36 3275 Dubai Islamic Bank Gulf Finance House 5.31 5.40 1.69 1.350 1.370 1.48 Damac 2.990 3.000 0.33 1.04 1.04 0.00 Union Properties 0.869 0.886 1.96 STOCKS - ADX OPEN CLOSE 1.24 1.23 3575 3200 3125 Last Two Months OPEN: 3107.89 HIGH: 3136.36 LOW: 3107.89 DFM CLOSE: 3136.36 3050 ADX Index : SIB 4700 Aldar Properties Etisalat 4550 OPEN: 4584.25 LOW: 4551.82 CLOSE: 4583.53 4400 2.13 2.14 0.47 17.65 17.45 -1.13 Methaq Takaful ADIB 0.81 0.80 -1.23 3.71 3.79 2.16 Dana Gas 0.92 0.94 2.17 ADCB 6.60 6.70 1.52 11.70 11.70 0.00 2.18 2.17 -0.46 1.85 1.85 0.00 FAB HIGH: 4593.07 Last Two Months % CHG -0.81 Waha Capital Union Cement LATEST STOCK MARKET INDICATORS : Dow Jones: Nasdaq: S&P 500: Hang Seng: 24,103.11 +254.69 FTSE: 7,063.45 +114.22 Nikkei: 21,579.11 2,640.87 +35.87 DFMGI: 3,136.36 +27.83 30,093.38 +70.85 ADX: 4,583.53 -1.87 7,056.61 +0.00 +125.01 Bahrain: 1,303.14 -15.26 Qatar: 8,669.04 +95.05 Kuwait: 6,633.44 +0.00 Saudi: 7,800.88 -69.99
2. Islamic Banking Bahrain has successfully priced a Rule 144A /RegS international $1 billion 6.875 per cent October 2025 sukuk offering. RAM assigned an ‘AA1/Stable’ rating to all four tranches of the structured covered Sukuk issued by Asian Finance Bank. Dar Al Arkan listed $500m Sukuk on NASDAQ Dubai; bringing its total Sukuk value listed on the exchange to $1.85b. GCC Bahrain announced discovery of a shale oil and a deep gas resource in Khaleej Al Bahrain Basin, located off west coast. Saudi Arabia has secured US$16 billion syndicated loan that refinances a US$10 billion facility signed in 2016: Reuters. Commodities Gold rose after 3 consecutive sessions of falls as USD eased amid fresh concerns of trade tensions between US & China. Oil lifted by a drop in U.S. drilling activity as well as by expectations that US could re-introduce sanctions against Iran. Forex USD steady vs JPY, after last week's rally & as it treads cautiously amid lingering concerns over US-China trade spat. AUD slipped very modestly following release of a private-sector Chinese manufacturing survey which missed forecasts. FOREX RATES Prev. High Prev. Low AED Prev. High Prev. Low AED EUR 1.2318 1.2330 1.2292 4.5244 JPY 106.300 106.5300 106.0900 0.03455 GBP 1.4047 1.4060 1.4007 5.1595 CAD 1.2892 1.2900 1.2857 2.84905 AUD 0.7675 0.7706 0.7670 2.8190 INR 65.110 65.1100 65.1100 0.05641 CHF 0.9544 0.9566 0.9520 3.8485 PKR 115.420 115.4200 115.3100 0.03182 MAJOR CHARTS EUR/USD price movements : Gold price movements : 1375 1.25 1350 1.24 1325 1.22 OPEN: 1.2299 1.21 OPEN: 1324.41 1300 HIGH: 1.2330 HIGH: 1328.32 LOW: 1.2292 LOW: 1321.21 Last Two Months CLOSE: 1.2321 INTERNATIONAL MURABAHA RATES COMMODITIES 1 month 3 months 6 months 1 year USD 1.8700 2.2900 2.4500 2.6500 AED 1.8085 2.2335 2.4295 2.8183 USD SWAP RATES USD Last Two Months CLOSE: 1324.00 1275 1.19 2 years 3 years 5 years 10 years 2.5644 2.6468 2.7060 2.7780 Gold LAST PRICE NET CHANGE 1,329.45 $ / ounce +5.21 Silver 16.42 $ / ounce +0.03 Dubai Crude 67.74 $ / barrel +1.38 Brent Crude 69.72 $ / barrel +0.38 WTI Crude 65.18 $ / barrel +0.24 FORTHCOMING ECONOMIC INDICATORS (FORECASTS) 02-04-18 - USD - ISM Manufacturing (MAR) 03-04-18 - GBP - Markit UK PMI Manufacturing s.a. (MAR). 02-04-18 - USD - ISM Employment (MAR) . 03-04-18 - EUR - German Retail Sales (YoY) (FEB) . 02-04-18 - CAD - RBC Canadian Manufacturing PMI (MAR). 03-04-18 - AUD - RBA Cash Rate Target (APR 3) . BANKING TERM OF THE DAY Balance-To-Limit Ratio The amount of money you owe on your credit cards compared to your credit limit. The balance-to-limit ratio is also called your credit utilization ratio. This ratio is important because it shows how carefully you’re managing your available credit. DISCLAIMER - This document is issued by Sharjah Islamic Bank (SIB), Sharjah, solely for the purpose of information to its staff's and customers. All efforts have been taken to ensure, facts and figures presented herein are as accurate and error free as possible. The data are subject to change without notice. The information contained within this document is not intended to buy or sell. The information contained within this document are obtained from sources that we believe are reliable, however, there is no guarantee on the part of their accuracy, nor should SIB be held responsible for any action taken on the above information. Please contact your respective branches or Treasury Dealing Room. Tel: 06 599 9171. Fax : 06 599 9181. E-mail : treasury&investmentdealingroom@sib.ae