IS Morning Report Wednesday, October 24, 2018

Similar documents
IS Morning Report Tuesday, November 13, 2018

IS Morning Report Monday, May 07, 2018

IS Morning Report Tuesday, April 10, 2018

IS Morning Report Thursday, April 12, 2018

IS Morning Report Wednesday, August 01, 2018

IS Morning Report Sunday, December 09, 2018

IS Morning Report Monday, October 22, 2018

IS Morning Report Wednesday, November 14, 2018

IS Morning Report Thursday, December 06, 2018

IS Morning Report Tuesday, June 05, 2018

IS Morning Report Monday, April 09, 2018

IS Morning Report Monday, November 05, 2018

IS Morning Report Monday, November 12, 2018

IS Morning Report Tuesday, October 23, 2018

Integrated Securities Morning Report 17 February 2019

IS Morning Report Sunday, August 19, 2018

Integrated Securities Morning Report 23 December 2018

Integrated Securities Morning Report 16 December 2018

IS Morning Report Sunday, May 13, 2018

Integrated Securities Morning Report 10 January 2019

IS Morning Report Tuesday, July 03, 2018

IS Morning Report Sunday, November 11, 2018

Integrated Securities Morning Report 24 January 2019

Integrated Securities Morning Report 21 February 2019

IS Morning Report Wednesday, September 05, 2018

Integrated Securities Morning Report 06 January 2019

IS Morning Report Monday, July 23, 2018

Integrated Securities Morning Report 27 December 2018

Integrated Securities Morning Report 03 February 2019

IS Morning Report Monday, June 18, 2018

IS Morning Report Sunday, July 01, 2018

Integrated Securities Morning Report 06 March 2019

Integrated Securities Morning Report 07 March 2019

IS Morning Report Monday, February 12, 2018

Integrated Securities Morning Report 15 January 2019

IS Morning Report Thursday, July 05, 2018

Integrated Securities Morning Report 26 December 2018

Integrated Securities Morning Report 17 December 2018

IS Morning Report Wednesday, March 28, 2018

IS Morning Report Wednesday, March 21, 2018

IS Morning Report Wednesday, April 11, 2018

Integrated Securities Morning Report 18 December 2018

% Change World Indices Price % Change Currencies Price % Change EUR/USD EUR/GBP

IS Morning Report Wednesday, July 04, 2018

Integrated Securities Morning Report 13 December 2018

IS Morning Report Monday, March 05, 2018

IS Morning Report Tuesday, February 13, 2018

Weekly Market Review. 27th January to 1st February 2013

Mashreq s Tracker Note Performances As of 4 th January 2015

Weekly Market Review. 31 st March th April 2014

UAE Equity Ownership Monthly Report

Mashreq s Tracker Note Performances As of 2 nd of March 2015

IS Morning Report Sunday, January 28, 2018

Weekly Economic Update Sunday, 06 March 2011

Weekly Market Review. 24 th February nd March 2014

2,993. P/E Multiple (x) 2,963 2,932 2,901 2,870

2,790. P/E Multiple (x) 2,733 2,676 2,619 2,561

3,744. P/E Multiple (x) 3,686 3,628 3,571 3,513

2,864. P/E Multiple (x) 2,829 2,795 2,761 2,727. UAE equity markets ended higher yesterday, lifted by gains in industrial and banking sector stocks.

2,864. P/E Multiple (x) 2,845 2,826 2,808 2,789

2,993. P/E Multiple (x) 2,942 2,891 2,840 2,789

3,639. P/E Multiple (x) 3,587 3,534 3,482 3,430. UAE equity markets closed higher yesterday, lifted by gains in insurance and financial sector stocks.

2,697. P/E Multiple (x) 2,641 2,585 2,529 2,472

2,584. P/E Multiple (x) 2,556 2,528 2,500 2,472

3,591. P/E Multiple (x) 3,551 3,510 3,470 3,430

Global Markets Update QNB Economics 12 November 2017

2,697. P/E Multiple (x) 2,663 2,629 2,595 2,561

3,745. P/E Multiple (x) 3,710 3,675 3,640 3,606. UAE equity markets closed higher yesterday, lifted by gains in insurance and property sector stocks.

3,684. P/E Multiple (x) 3,611 3,539 3,466 3,394

2,864. P/E Multiple (x) 2,830 2,795 2,761 2,727

2,864. P/E Multiple (x) 2,830 2,795 2,761 2,727

Market Update. 14 May 2015 BANK MUSCAT ASSET MANAGEMENT

WEEKLY CHANGES AGAINST THE USD

3,477. P/E Multiple (x) 3,433 3,389 3,345 3,301

2,993. P/E Multiple (x) 2,946 2,899 2,851 2,804

3,523. P/E Multiple (x) 3,482 3,442 3,401 3,360

2,830. P/E Multiple (x) 2,797 2,765 2,732 2,699

3,486. P/E Multiple (x) 3,428 3,370 3,312 3,254

2,864. P/E Multiple (x) 2,823 2,782 2,741 2,699

2,697. P/E Multiple (x) 2,663 2,629 2,595 2,561

2,864. P/E Multiple (x) 2,829 2,795 2,761 2,727

2,853. P/E Multiple (x) 2,815 2,776 2,738 2,699

Weekly Economic Update

Global Markets Update QNB Economics 30 October 2016

2,612. P/E Multiple (x) 2,571 2,530 2,489 2,448

Weekly Market Review. 26 th May to 31 st May 2013

3,523. P/E Multiple (x) 3,482 3,442 3,401 3,360

2,584. P/E Multiple (x) 2,556 2,528 2,500 2,472

Global Markets Update QNB Economics 28 August 2016

3,066. P/E Multiple (x) 3,000 2,934 2,867 2,801

3,744 3,709 3,675 3,640 3,606. UAE equity markets closed higher yesterday, lifted by gains in real estate and financial sector stocks.

2,864. P/E Multiple (x) 2,823 2,782 2,741 2,699

3,744. P/E Multiple (x) 3,708 3,671 3,635 3,599

3,591. P/E Multiple (x) 3,543 3,494 3,446 3,398

3,591. P/E Multiple (x) 3,551 3,510 3,470 3,430

3,679. P/E Multiple (x) 3,641 3,603 3,565 3,528

Weekly Economic Update

3,576. P/E Multiple (x) 3,478 3,379 3,280 3,181

2,947. P/E Multiple (x) 2,910 2,874 2,837 2,801

2,966. P/E Multiple (x) 2,922 2,878 2,833 2,789

Transcription:

# Global & Regional Benchmarks # UAE Trading Summary Indices Close 1Day 1Mnth 3Mnth YTD 1Y (AEDm) BUY SELL NET ADX 4,970 0.3% 1.7% 4.0% 13.0% 10.5% ADX 112 112 - DFM 2,753 0.2% 0.0% -5.9% -18.3% -24.4% Local 41% 56% -15% TASI 7,550-1.3% -2.8% -10.2% 4.5% 9.7% Foreign 59% 44% 15% BHSEASI 1,321-0.1% -2.6% -3.4% -0.8% 3.5% Institutional 74% 69% 4% EGX 13,580-0.5% -4.4% -12.3% -9.6% -2.5% Retail 26% 31% -4% Dow Jones 25,191-0.5% -5.2% -0.2% 1.9% 7.5% DFM 261 261 - S&P 500 2,741-0.6% -6.1% -2.8% 2.5% 6.7% Local 76% 63% 13% Nasdaq 7,438-0.4% -7.0% -5.1% 7.7% 12.7% Foreign 24% 37% -13% FTSE 100 6,955-1.2% -6.7% -9.8% -9.5% -7.6% Institutional 64% 62% 1% DAX 11,274-2.2% -8.7% -11.2% -12.7% -13.4% Retail 36% 38% -1% CAC40 4,968-1.7% -9.3% -8.6% -6.5% -7.9% Total 373 373 - Nikkei225 22,098 0.4% -7.4% -1.8% -2.9% 1.3% Local 66% 61% 5% HIS 25,566 0.9% -7.0% -10.8% -14.6% -9.2% Foreign 34% 39% -5% # Upcoming Corporate Actions & Events Date Company Event 25-Oct ETISALAT Board Meeting 27-Oct RAK Properties Board Meeting 28-Oct UNB Board Meeting 29-Oct CBI Board Meeting 30-Oct ADNIC Board Meeting 07-Nov KHCB Board Meeting 11-Nov GFH Board Meeting 13-Nov ITHMR Board Meeting

# KEY STORIES DP World's Dubai shipping container volumes fall 6.7% in third quarter Union Properties says unit to subscribe Palm Hills Development's capital increase. Arabtec awarded AED299 million contract for 478 villas at Akoya Oxygen by Damac Properties Arabtec awarded AED311 million contract for the public realm in concourses and arrivals plazas at Expo 2020. Drake & Scull board approves the formation of a restructuring committee GFH Financial Group ends agreement with Al Ramz Capital as liquidity provider, effective Nov 26. RAK Cement Board approves to sell part of company equity portfolio and invest proceeds in other opportunity National Bank of Umm Al Qaiwain posted nine-month profit of AED 335.8 million vs AED 285.9 million year ago Mubadala waiting for right time to revive Cepsa IPO Mubadala hires banks to arrange 10-year dollar bond New biannual tax return commences next month for some sectors in UAE Saudi Arabia signs deals worth $50 billion Saudi Aramco in talks with Russia's Novatek on large LNG project Saudi Arabia s PIF targets $2 trillion portfolio by 2030 Siemens is delaying signing $20 billion Saudi power deal Total to announce retail network in Saudi Arabia with Aramco Aramco's Nasser says anti-trust regulations means SABIC's stake purchase will take time Saudi Arabia to allow foreigners investing in audiovisual services, land transportation, real estate brokerage Saudi Arabia's National Commercial Bank Q3 profit rises to SAR2.45billion Saudi September inflation edges down to 2.1 pct as housing costs fall Egypt's Arab Contractors eyes $1.33bln in new contract work by 2020, ahead of unit's IPO East Delta Flour Mills shareholders approve FY dividend of EGP 14 per share Egypt's MNHD completes construction of 2,956 units in Q3 # Key Global Trends/ Market Clues Asian stocks edged lower on Wednesday as concerns, ranging from worries about U.S. corporate earnings to Middle East tensions, weighed on sentiment while crude oil approached two-month lows after Saudi Arabia flagged possible supply increases. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 percent, extending the decline of more than 2 percent in the previous session.

Oil prices on Wednesday clawed back a fraction of their hefty losses the day before that came after Saudi Arabia said it would make up for supply disruptions from U.S. sanctions starting next month on Iran's petroleum exports. Front-month Brent crude oil futures were at $76.72 a barrel at 0320 GMT, 28 cents, or 0.4 percent, above their last close. Saudi Arabia does not rule out boosting its crude production by up to 2 million barrels per day (bpd), pushing the country to maximum capacity, as the world s biggest oil exporter seeks to assure markets of its ability to ramp up output quickly to meet demand or cope with supply disruptions. # UAE Stories DP World's shipping container volumes in Dubai fell 6.7 percent in the third quarter, with the port operator warning on Tuesday that the near-term outlook for Dubai's major Jebel Ali Port remained challenging. Shipping container volumes in Dubai were down 2.1 percent to 11.3 million 20-foot equivalent units (TEU) in the first nine months of the year, said DP World. Union Properties says unit to subscribe Palm Hills Development's capital increase. Arabtec awarded AED299 million contract for 478 villas at Akoya Oxygen by Damac Properties Arabtec awarded AED311 million contract for the public realm in concourses and arrivals plazas at Expo 2020. Public realm construction is scheduled to begin this month and be completed in the last quarter of 2019. Drake & Scull International said on Tuesday its board approved forming a restructuring committee after majority of its shareholders voted to continue operations. GFH Financial Group ends agreement with Al Ramz Capital as liquidity provider, effective Nov 26. RAK Cement Board approves to sell part of company equity portfolio and invest proceeds in other opportunity. National Bank of Umm Al Qaiwain posted nine-month profit of AED 335.8 million vs AED 285.9 million year ago. Mubadala Investment Company is waiting for the right time to revive the listing of Spanish oil company Cepsa, the Abu Dhabi state investor s chief executive said on Tuesday. CEO Khaldoon Al Mubarak said in Riyadh that Mubadala felt that it could get a better valuation if it postponed the IPO. Mubadala, which had planned to raise about 2 billion ($2.3 billion; Dh8.44 billion) by selling 25 per cent of Cepsa, said on October 15 it had postponed the listing. Mubadala Development Company has hired banks to arrange a series of fixed-income investor calls ahead of a planned 10-year international bond sale, a document issued by one of the banks showed on Tuesday. The Federal Tax Authority (FTA) will introduce a new biannual tax period next month for certain sectors, said Khalid Ali Al Bustani, director-general, FTA. "Next November, a new biannual tax period will be introduced for some small businesses, commercial real estate owners, and board members and they will be informed of the procedures for their new tax periods," said Al Bustani. The authority is currently applying monthly and quarterly tax periods, and is preparing to introduce biannual periods for certain sectors. # GCC/ MENA State-run Saudi Aramco signed 15 of the agreements worth $34 billion, including deals with French oil giant Total SA, oil-services provider Halliburton Co. and Hyundai Heavy Industries Co. Commodities trading house Trafigura Group and an affiliate of Riyadh-based Modern Industrial Investment Holding Group announced a joint venture to

develop a smelter and refining complex, according to an emailed statement. Some of the deals, totalling about $50 billion, had been announced previously, while others were for new ventures or marked progressive steps on existing agreements. Saudi Aramco in talks with Russia's Novatek on large LNG project. Saudi Arabia s sovereign wealth fund, the Public Investment Fund (PIF), is targeting to increase its portfolio of assets to $2 trillion (Dh7.3tn) by 2030 as it aggressively invests in both domestic and international markets. Siemens is delaying signing $20 billion Saudi power deal. Total to announce retail network in Saudi Arabia with Aramco. Aramco's Nasser says the strategy to shift 2 million bpd to petrochemical and government is committed to IPO; timing depends on market conditions and other factors. Nasser said cannot list ARAMCO while SABIC acquisition ongoing. He further said that anti-trust regulations means SABIC acquisition would take time. Saudi Arabia to allow foreigners investing in audiovisual services, land transportation, real estate brokerage. Saudi Arabia's National Commercial Bank (NCB), the kingdom's largest lender by assets, reported a 15.4 percent rise in third-quarter net profit on Tuesday, helped in part by an increase in net special commission income and fees from banking services. The bank made a net profit of 2.45 billion riyals ($653.05 million) in the three months to Sept. 30, up from 2.13 billion riyals in the same period of 2017. Saudi September inflation edges down to 2.1 pct as housing costs fall. Arab Contractors, the Egyptian construction and contracting company, forecasts it will win 24 billion Egyptian pounds ($1.33 billion) worth of new project contract work over the next two years, as it prepares to list a stake in its investment unit, the firm s chairman said in an interview last week. The Cairo-based firm, which is 90 percent government owned and 10 percent owned by private shareholders, plans to launch an initial public offering (IPO) for around 40 percent of its investment unit. East Delta Flour Mills shareholders approve FY dividend of EGP 14 per share. Egypt's MNHD completes construction of 2,956 units in Q3. (Source: ADX, DFM, Bloomberg, Reuters, Gulf News, The National, Arabian Business) 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.