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U Capital Morning Brief 1 May 2019

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U Capital Morning Brief 1 May 2019 U Capital Morning Brief 1 May 2019 Market Indices Current Close Change D/D YTD Price to Earnings Price to Book Div Yield Index Point % % (x) (x) % U Capital Oman 20 Index 823.38 6.30 0.77% -6.25% - - - U Capital GCC 50 Index 1,462.79 4.14 0.28% 11.69% - - - U Capital MENA 200 Index 1,134.55 0.96 0.08% 8.56% - - - MSCI GCC Countries Index 617.01 0.61 0.10% 14.72% 15.96 2.01 3.7% Muscat Securities Market 3,945.64 11.02 0.28% -8.74% 8.22 0.76 7.0% Saudi Stock Exchange 9,304.20 27.70 0.30% 18.88% 21.11 2.07 3.2% Kuwait Stock Exchange 5,630.00 -12.36 -0.22% 10.84% 15.81 1.45 3.6% Qatar Exchange 10,376.80 17.06 0.16% 0.76% 14.53 1.58 4.2% Bahrain Stock Exchange 1,433.92 -2.50 -0.17% 7.23% 9.92 0.91 5.8% Dubai Financial Market 2,767.10 6.96 0.25% 9.38% 11.65 1.05 4.8% Abu Dhabi Exchange 5,258.05 -74.39 -1.40% 6.98% 14.61 1.52 4.7% Beirut Stock Exchange 909.85 3.54 0.39% -6.85% 4.66 0.53 10.9% Palestine Stock Exchange 527.56 1.04 0.20% -0.34% 10.63 1.20 4.6% Tunis Se Index 6,885.12 -7.40 -0.11% -5.32% 17.90 2.31 2.1% EGX 30 Index 14,920.15 149.88 1.01% 14.46% 16.55 1.48 2.1% Amman General Index 1,811.45 -26.09 -1.42% -5.10% 11.22 0.89 5.8% World Markets Country Value D/D YTD Currency Cross Rates Europe % % Currency USD/1 Unit Units/1 USD FTSE 100 UK 7,418.2 -0.30% 10.3% Australian Dollar (AUD) 0.705 1.418 DAX Germany 12,344.1 0.13% 16.9% British Pound (GBP) 1.304 0.767 CAC 40 France 5,586.4 0.10% 18.1% Canadian Dollar (CAD) 0.748 1.338 United States Chinese Renminbi (CNH) 0.149 6.736 DJIA USA 26,592.9 0.15% 14.0% Egyptian Pound (EGP) 0.058 17.194 S&P 500 USA 2,945.8 0.10% 17.5% Euro (EUR) 1.122 0.892 NASDAQ USA 8,095.4 -0.81% 22.0% Indian Rupee (INR) 0.014 69.556 Asia Pacific Japanese Yen (JPY) 0.009 111.490 NIKKEI 225 Japan 22,258.7 -0.22% 11.2% New Zealand Dollar (NZD) 0.665 1.503 HANG SENG Hongkong 29,699.1 -0.65% 14.9% Omani Rial (OMR) 2.597 0.385 KSE 100 Index Pakistan 36,784.4 -0.65% -0.8% Pakistani Rupee (PKR) 0.708 141.398 NSE Nifty 50 India 11,748.2 -0.06% 8.2% Russian Ruble (RUB) 0.015 64.632 SHANGHAI Composite China 3,078.3 0.52% 23.4% Singapore Dollar (SGD) 0.736 1.360 KOSPI Index South Korea 2,203.6 -0.58% 8.0% Turkish Lira (TRY) 0.168 5.965 Commodity Prices Price D/D YTD GCC 3m Interbank Rates Current Rate % USD % % UAE 2.88 Oil Saudi Arabia 2.85 Brent Crude (per bbl) 71.6 -0.58% 30.8% Kuwait 2.69 WTI Crude (per bbl) 63.4 -0.86% 39.5% Oman 2.82 Oman Crude Oil (Last Closing) 71.8 1.27% 34.2% Qatar 2.86 OPEC (per bbl) 71.1 -1.81% 37.9% Bahrain 3.40 Precious Metals Gold100 OZ (per oz) 1,280.1 -0.27% -0.2% GCC Latest 10-Yr Government Bond Yields Silver (per oz) 14.9 -0.21% -3.7% Maturity date YTM, % Platinum (per oz) 886.0 -0.25% 11.4% Kuwait 3/20/2027 3.15 Other Metals Abu Dhabi 10/11/2027 3.19 Copper, MT 6,415 0.30% 7.5% Qatar 6/2/2026 3.26 Aluminium, MT 1,797 -1.70% -2.7% Saudi Arabia 3/4/2028 3.61 Lead, MT 1,925 -2.23% -4.8% Oman 1/17/2028 6.32 Zinc, MT 2,826 1.20% 14.5% Bahrain 10/12/2028 5.85 Midswaps Price YTM % USD Libor Rate (%) 3 year 100.03 2.24 1m 2.49 5 year 99.87 2.28 3m 2.58 10 year 101.06 2.50 6m 2.61 30 year 101.41 2.93 1 year 2.71 Source: Bloomberg Note: All values are updated at 9:00 AM Muscat Time. Markets are closed on Saturday and Sunday l CR No. 1279406 l Tel: +968 2494 9000 l Fax: +968 2494 9099 l Email: [email protected] l Web: www.u-capital.net OMAN ECONOMIC & CORPORATE NEWS CBO ANNOUNCES TREASURY BILLS TENDER RESULTS A tender of Government Treasury Bills, issue number 491 was held at the Central Bank of Oman (CBO) this Week. The results of the issue are as follows: the total value of the allotted Treasury bills amounted to RO 17 million, for a maturity period of 91 days, from 1 May until 31 July 2019. Source: ONA New Oman Banking Law by year-end: CBO The Central Bank of Oman (CBO) is drafting a new Banking Law with inbuilt flexibility to take into account current and emerging trends and developments in the banking and financial services industry. Source: Oman Observer OAPFD launches PFD online platform and ICV System The Omani Authority for Partnership for Development (OAPFD) launches Ta’ziz System, to facilitate the implementation of the PFD and ICV programme. Source: Oman Observer STARCARE NAMES BATHA AS GROUP CEO The chairman and board of directors of Starcare Group have unanimously nominated Nasser Batha, founding partner of the group, to assume responsibility as the CEO of Starcare Group in Oman. Source: Muscat Daily Oman becoming a tourism and investment hub Omani-Turkish Business Council held its first meeting this year at the Oman Chamber of Commerce and Industry. The meeting discussed the objectives of the Council as the development and consolidation of relations between the business communities of the two countries, encourage exports and exchange of goods and services through continuous contacts, exchange of information and establishment of exhibitions in both countries. Source: ONA Bazaar Project in Sohar Launched Sohar Real Estate Development Company launched (Bazaar) project in the Wilayat of Sohar, which comes as part of the real estate development projects that worth RO 13 million. It is expected to open in the second half of 2021. Source: ONA Oman readies U.S. dollar bond sale Oman is preparing a sale of U.S. dollar-denominated bonds, two sources familiar with the matter said, as the sultanate seeks to take advantage of improved conditions across emerging markets to finance its budget deficit. Source: Reuters MIDDLE EAST ECONOMIC & CORPORATE NEWS UAE Hospitality: Hotel inventories keep growing for Expo 2020 With less than two years before the Expo 2020 Dubai opens its doors, the UAE's hospitality sector is steadily witnessing an increase in hotel inventory, as global and local players complete their projects in time for the event. Source: Zawya Dubai's Drake & Scull blames heavy losses on former managers Dubai-based contractor Drake & Scull International (DSI) has blamed the 4.5 billion United Arab Emirates dirhams ($1.2 billion) loss to shareholders revealed in its recently filed accounts for 2018 on a “deliberate and conscious decision” by previous management running the company from 2009-16 to defer declarations of losses. Source: Zawya l CR No. 1279406 l Tel: +968 2494 9000 l Fax: +968 2494 9099 l Email: [email protected] l Web: www.u-capital.net Saudi's Falih will stick to global oil deal, pact could be extended. Saudi Arabia will not rush to boost oil supply to make up for a loss of Iranian crude due to U.S. sanctions, and will stick to a global deal on oil production, which could be extended to the end of 2019, Energy Minister Khalid al-Falih told RIA news agency. Source: Zawya Saudi cabinet approves regulations of Commercial Arbitration Center Saudi Arabia’s cabinet approved today the regulations governing the Saudi Commercial Arbitration Center, based on the commerce ministry and the Council of Economic and Development Affairs’ recommendations. Source: Argaam Saudi's Falih will stick to global oil deal, pact could be extended Saudi Arabia will not rush to boost oil supply to make up for a loss of Iranian crude due to U.S. sanctions, and will stick to a global deal on oil production, which could be extended to the end of 2019. Source: Reuters SPMC reschedules SAR 48m loan with Alinma Bank Saudi Paper Manufacturing Company (SPMC) has signed an agreement with Alinma Bank to reschedule a SAR 48 million existing sharia-compliant credit facility. The value of the loan previously amounted to SAR 267 million, according to a statement to the Saudi Stock Exchange (Tadawul) on Tuesday. Source: Mubasher ADX sees highest liquidity in 2019 on ADCB,UNB merger Tuesday The Abu Dhabi Securities Exchange (ADX) ended Tuesday’s trading session in red territory, while its market capitalization lost AED 6 billion, recording AED 532.86 billion Source: Decypha $25bn tourism market ‘White Oil’ to boost Saudi economic diversification The tourism sector is expected to considerably prop up the diversification of Saudi Arabia’s oil-dependent economy, experts said on the sidelines of Arabian Travel Market (ATM) 2019. Source: Mubasher Qatar’s construction sector robust, says German Ambassador Qatar’s construction industry looks bright and robust, and holds great potential as a showcase for the whole region, Germany’s Ambassador to Qatar, Hans-Udo Muzel has said at the Ambassadors’ panel discussion at the on-going Project Qatar Conference Source: The Peninsula Qatar Oil traders eye Saudi Arabia’s response in a critical juncture for crude Global oil markets sit at a critical juncture, with risks to supply being balanced against rising prices and questions over whether major producers will now turn on the taps.
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