IS Morning Report Monday, May 07, 2018

Transcription

1 Global & Regional Benchmarks UAE Trading Summary Indices Close 1Day 1Mnth 3Mnth YTD 1Y (AEDm) BUY SELL NET ADX 4, % -1.1% -0.8% 3.7% -0.2% ADX DFM 2, % -3.8% -11.4% -11.8% -12.2% Local 61% 60% 1% TASI 8, % 3.1% 9.4% 12.3% 18.3% Foreign 39% 40% -1% KWSEI 1, % -0.6% -4.5% -4.2% -3.7% Institutional 33% 39% -6% EGX 17, % 1.2% 17.1% 17.3% 38.8% Retail 67% 61% 6% Dow Jones 24, % 1.4% -2.5% -1.8% 15.5% DFM S&P 500 2, % 2.3% -0.7% -0.4% 11.0% Local 60% 62% -2% Nasdaq 7, % 4.3% 2.2% 4.4% 18.2% Foreign 40% 38% 2% FTSE 100 7, % 5.3% 4.0% -1.6% 3.7% Institutional 30% 30% 0% DAX 12, % 4.7% 1.8% -0.8% 0.8% Retail 70% 70% 0% CAC40 5, % 4.9% 4.9% 3.8% 1.5% Total Nikkei225 22, % 5.4% -3.5% -1.4% 15.5% Local 60% 62% -1% HIS 30, % 0.8% -0.8% 0.5% 22.9% Foreign 40% 38% 1% Upcoming Corporate Actions & Events Date Company Event 9-May DXBE Board Meeting 9-May KHCB Board Meeting 13-May GFH Board Meeting Key Stories Aldar acquires AED3.7 billion of assets from TDIC. SHUAA Capital reports 1Q18 net profit attributbale to shareholders 11.7 million dirhams versus 24.8 million dirhams year ago Dubai Investments First Quarter Net Income 358 Mln Dirhams vs. 276 Mln Dirhams

2 Finance House Q1 Profit Falls. 1Q18 net profit 20.9 million dirhams versus 25.1 million dirhams year ago. UAE's Orient Insurance 1Q18 Profit attributbale to shareholders million dirhams versus million dirhams year ago. Abu Dhabi National Hotels Q1 Profit at 97.3 million dirhams versus 85.7 million dirhams year ago. 1Q18 operating revenue million dirhams versus million dirhams year ago. Abraaj to sell Middlesex University in Dubai-sources National Bank Of Umm Al Qaiwain 1Q18 Profit Rises to 131 million dirhams versus million dirhams year ago. 1Q18 interest income million dirhams versus million dirhams year ago. As of end-march 2018, capital adequacy ratio stands at percent Saudi sovereign fund plans entertainment centres across kingdom Savola Group Signs Deal To Buy 51 Pct Of Al Kabeer Group Saudi Investment Bank Q1 Profit Rises to million riyals versus million riyals year ago. As at end-march, customer deposit stand at billion riyals, down 5.28 percent year-on-year Egypt Population Surge Must Be Met with Job Growth, IMF Says Global Markets Wrap: Asian shares crept higher on Monday after a tame reading on U.S. wages lowered the risk of faster rate hikes by the Federal Reserve, although Sino-U.S. trade tensions and a looming deadline for the Iranian nuclear deal argued for caution. Oil prices hit their highest in more than three years as global supplies remained tight and the market awaited news from Washington on possible new U.S. sanctions against Iran. U.S. oil rose above $70 a barrel for the first time since November 2014 as traders braced for a re-imposition of U.S. sanctions on Middle East crude producer Iran. Futures in New York and London jumped as much as 1.4 percent. While President Donald Trump has threatened he ll pull out of a deal between Iran and world powers as a May 12 deadline nears, he s signaled he ll be open tonegotiation. The 2015 accord eased sanctions on OPEC s third-largest member in exchange for curbs on its nuclear program, and renewed American measures may stifle the Middle East nation s crude exports.

3 UAE: Aldar acquires AED3.7 billion of assets from TDIC. Reaches agreement with tourism development & investment company to acquire a portfolio of prime real estate assets worth aed 3.7 billion. Acquisition is expected to ful ly complete by end of june Operating assets being acquired will deliver incremental net operating income of about aed 120 million to aldar s asset management portfolio on an annualised basis. Gross development value of projects under development on saadiyat island is aed 2.5 billion. SHUAA Capital reports 1Q18 net profit attributbale to shareholders 11.7 million dirhams versus 24.8 million dirhams year ago. 1Q18 total revenue 33.2 million dirhams versus 31.8 million dirhams year ago. 1Q 2018 results: maintains profitable trajectory amid expansion activities. As at 31 March 2018, Assets Under Management increased to AED 4.2 billion. Dubai Investments First Quarter Net Income 358 Mln Dirhams vs. 276 Mln Dirhams. Finance House Q1 Profit Falls. 1Q18 net profit 20.9 million dirhams versus 25.1 million dirhams year ago. UAE's Orient Insurance 1Q18 Profit Rises. 1Q18 net profit attributbale to shareholders million dirhams versus million dirhams year ago. 1Q18 gross written premium 1.20 billion dirhams versus million dirhams year ago. Abu Dhabi National Hotels Q1 Profit Rises. 1Q18 net profit 97.3 million dirhams versus 85.7 million dirhams year ago. 1Q18 operating revenue million dirhams versus million dirhams year ago. Abraaj, the private equity firm rocked by a dispute with some investors over how it used their money, is in talks to sell its investment in Middlesex University's overseas campus in Dubai, two sources familiar with the matter told Reuters. Discussions between Abraaj and the potential buyer are at an advanced stage, said one of the sources who spoke on condition of anonymity due to commercial sensitivities. Abraaj said it does not comment on market speculation. Middlesex University's Dubai campus did not immediately respond to Reuters' request for comment. GCC/ MENA: Saudi Arabia's main sovereign wealth fund will set up a network of entertainment centres across the kingdom as the government tries to jump-start a domestic leisure industry, the chairman of the company carrying out the plan said on Sunday. Abdullah al-dawood, chairman of Development and Investment Entertainment Company (DIEC), said his firm envisaged about 20 centres, each around 50,000 to 100,000 sq metres (540,000 to 1.1 million sq feet), in 14 or 15 cities. Savola Group Signs Deal To Buy 51 Pct Of Al Kabeer Group. Announces purchase of 51 percent of al kabeer group of companies for million riyals. Signs binding share purchase agreement for acquisition of 51 percent of al kabeer group of companies for million riyals. Says completion of share sale under agreement shall be within 6 months from date of signing, extendable by mutual consent. Egypt needs to embrace policies that strengthen the private sector and promote job growth in order to cement the gains realized from sweeping economic revival efforts, the International Monetary Fund said. (Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian Business)

4 Daily Foreign Ownership Increase Company Name Foreign Ownershp (%) (%) Shares Mcap (AED) DSI 16.39% ,249,074 2,429,000 Islamic Arab Ins % , ,976 Arabtec 18.42% ,000 1,701,000 GFH 73.08% ,145,110 2,677,349 Union Properties 24.07% ,715,816 1,393,243 RAK Cement 20.47% ,624 74,909 Sudatel 80.19% , ,910 RAK Properties 29.11% , ,000 DFM 7.48% , ,000 Arkan Building 0.86% , ,000 Daily Foreign Ownership Decrease Company Name Foreign Ownershp (%) (%) Shares Mcap (AED) Dana Gas 60.29% (4,883,636) (5,030,145) Gulf Nav 19.79% (459,605) (477,989) Aldar 25.75% (3,145,052) (6,510,257) Ajman Bank 10.71% (504,097) (499,056) Shuaa Capital 17.53% (213,000) (225,780) DU 0.85% (906,581) (4,424,116) Aramex 62.31% (146,410) (584,176) DXBE 31.48% (799,991) (301,597) Amlak Finance 20.57% (147,500) (114,750) Amanat 21.43% (250,000) (335,000) (Source: ADX, DFM, Bloomberg, Reuters)

5 Institutional Sales and Trading Team Harshjit Oza Direct Line: 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.