|
|
|
UAE Market Major News/Highlights |
|
|
Emirates NBD and RBL Bank
announced the completion of Emirates NBD's acquisition of a 60%
stake in RBL Bank through a primary capital infusion of approximately USD
2.75bn (INR260bn). The transaction was finalized following the receipt of
all required regulatory approvals and the fulfilment of closing conditions.
The investment was executed through a preferential share issuance, with
Emirates NBD subsequently completing a mandatory open offer to RBL Bank's
public shareholders in accordance with Indian regulations. Following
completion, Emirates NBD now holds 60% of RBL Bank's expanded share
capital.
- Revenue: AED255.15mn (-36.9% YoY vs. AED404.52mn in 2Q25)
- Gross profit: AED98.58mn (-41.2% YoY vs. AED167.74mn in 2Q25)
- Operating profit: AED49.65mn (-56.8% YoY vs. AED114.85mn in 2Q25)
- Net profit after tax: AED36.56mn (-60.6% YoY vs. AED92.69mn in 2Q25)
|
|
|
NMDC Infra a subsidiary of
NMDC Group PJSC has signed a contract with TAQA Water Solutions
Company for the Construction Works for Emergency Lagoon for Abu Dhabi
Region. The project scope of work includes, Construction of a
1-million-cubic-meter emergency lagoon, including inlet and outlet
structures, installation of HDPE pipelines, and installation of pumps,
valves, and associated mechanical systems. The project is valued at AED
288mn, and it is expected to be delivered over 24 months.
|
|
|
AD Ports Group announced the
operational launch of Noatum Ports –Maqta Ayla Digital
Solutions, a joint venture between the Abu Dhabi Group and Aqaba Development
Corporation (ADC). The initiative marks a significant step towards
reinforcing Aqaba's position as a leading regional trade and logistics hub,
while supporting Jordan's broader economic development plans. The project
aims to enhance digital integration and facilitate information exchange
among port users, the container terminal, relevant authorities, and all
stakeholders, contributing to increased operational and logistical
efficiency in Aqaba.
|
|
|
Dubai's commodities exchange
will launch a same-day settlement gold futures contract on
Monday, its CEO told Reuters, aiming to tap safe-haven demand and faster
trading infrastructure to boost liquidity in the emirate's bullion market.
The Dubai Gold and Commodities Exchange (DGCX), part of the Dubai Multi
Commodities Centre (DMCC), said shorter settlement cycles reflect broader
market shifts towards speed and efficiency.
|
|
|
Market Key Stats |
|
ADX |
DFM |
Total UAE Trading
|
Foreign Net Flow |
|
9,963.3 |
6,055.0 |
AED 4.4bn |
+AED 23mn |
|
+1.6% day change |
+1.7% day change |
ADX + DFM turnover
|
Across ADX and DFM
|
ADX & DFM 1 Year Performance
UAE Trade Summary
|
UAE trading summary (AED mn) |
Buy |
Sell |
Net |
|
ADX |
2,624 |
2,624 |
- |
|
Local |
1,184 |
1,286 |
-102 |
|
Foreign |
1,439 |
1,337 |
102 |
|
Company |
1,846 |
1,727 |
119 |
|
Individual |
778 |
897 |
-119 |
|
DFM |
1,725 |
1,725 |
- |
|
Local |
811 |
933 |
-123 |
|
Foreign |
914 |
791 |
123 |
|
Company |
957 |
838 |
120 |
|
Individual |
767 |
887 |
-120 |
|
Total |
4,348 |
4,348 |
(0) |
|
Local |
1,995 |
2,219 |
-225 |
|
Foreign |
2,353 |
2,129 |
225 |
|
|
|
|
GCC Market Major News/Highlights |
|
|
A subsidiary of Saudi
Arabia's SMC Healthcare has been awarded a SAR 3.8bn (USD1bn)
project by the kingdom's Ministry of Health to manage and operate the SABIC
Behavioral Care Specialist Hospital. The 150-bed mental health facility will
be run under a Public Private Partnership (PPP) model, with the government
acting as both procurer and asset owner.
|
|
|
Egypt Aluminum Company
(Egyptalum) is seeking a USD100mn loan from a consortium of
Egyptian and Gulf banks to fund the country's first aluminum foil
manufacturing plant. The National Bank of Egypt is arranging and managing
the dollar-denominated loan, with a final agreement expected to be signed in
the fourth quarter of 2026.
|
|
Regional Market Performance
|
Indices |
Close |
Change |
|
1D |
1M |
YTD |
1Y |
|
ADX |
10,113.5 |
1.2%
|
6% |
1% |
6% |
|
DFM |
6,269.5 |
2.5%
|
12%
|
4% |
18%
|
|
TASI (Saudi) |
11,121 |
0.1%
|
2% |
6% |
5% |
|
QSI (Qatar) |
10,511 |
-0.6%
|
1% |
-2%
|
2% |
|
BKM (Kuwait) |
8,732 |
-0.5%
|
2% |
5% |
27%
|
|
MSX (Oman) |
7,582 |
0.0% |
-4%
|
29%
|
68%
|
|
BHSEASI (Bahrain) |
2,028 |
0.6%
|
6% |
-2%
|
7% |
|
EGX (Egypt) |
52,622 |
0.0% |
0% |
26%
|
71%
|
|
|
|
GCC Market Major News/Highlights |
|
|
Shares climbed to record
highs in Japan and South Korea on Friday as peace in the Middle East
with the reopening of the Strait of Hormuz pulled oil prices even lower
and eased inflation fears.
|
|
|
The U.S. dollar was on a tear, hovering near a 13-month high on its major
peers, after a hawkish turn from the Federal Reserve led markets to price in
more than one rate hike this year. That dragged the yen to the weakest level
in two years and intensified speculation that Japanese authorities might
have to intervene soon and stem the currency's slide. |
|
|
Oil tankers have started sailing through the Strait of Hormuz after the
United States lifted its blockade on Iran on Thursday as an interim deal to
end the three-month war took effect. |
|
|
Share markets have had a blockbuster week. Japan's Nikkei gained 0.8% to hit
a new record for the fifth straight session, extending its weekly gain to
8.5%. South Korea jumped 3.1%, adding to its weekly rise of 15.3%. |
|
|
Despite market optimism about the resumption of oil flows through the Strait
of Hormuz, analysts cautioned that Iran was unlikely to relinquish control
over the strait. |
|
|
Wall Street futures slipped 0.2% after the rally overnight. |
|
|
The U.S. dollar index is set for a weekly gain of 1% on Friday at 100.78.
That pushed the yen to 161.26 a dollar, the lowest since July 2024 and well
beyond the 160 level widely seen as a line in the sand for Japanese
intervention. |
|
|
The British pound was off 0.1% at USD1.3195, after a 0.7% drop overnight as
the Bank of England kept interest rates on hold in a 7-2 vote. Ten-year
yields were down 3 bps to 4.4510% this week, while 30-year yields slumped 7
bps to 4.9010%, about the lowest in two months. |
|
|
|
Key Stats/Highlights |
Global Indices Performance
|
Indices |
Close |
Change |
|
1D |
1M |
YTD |
1Y |
|
DJI |
51,565 |
0.1%
|
4% |
7% |
22%
|
|
S&P 500 |
7,501 |
1.1%
|
13%
|
10%
|
25%
|
|
Nasdaq |
26,518 |
1.9%
|
2% |
14%
|
36%
|
|
FTSE |
10,400 |
-1.0%
|
1% |
5% |
18%
|
|
DAX |
25,027 |
0.4%
|
3% |
2% |
7% |
|
CAC40 |
8,468 |
0.4%
|
6% |
4% |
11%
|
|
Nikkei225 |
71,053 |
1.6%
|
17%
|
41%
|
83%
|
|
HSI |
23,925 |
-1.6%
|
-7%
|
-7%
|
1% |
|
MSCI EM |
1,790 |
0.4%
|
8% |
27%
|
50%
|
|
MSCI Asia |
284 |
0.7%
|
7% |
25%
|
42%
|
|
US Futures |
7,529 |
-0.6%
|
2% |
26%
|
26%
|
Bond Market Yields
|
Rates |
Current |
Change |
|
1D |
1W |
6M |
1Y |
|
US 2yr Bond |
4.18% |
0.00% |
0.10% |
0.69% |
0.19% |
|
US 10yr Bond |
4.45% |
0.00% |
-0.03%
|
0.31% |
-0.08%
|
|
US 30yr Bond |
4.90% |
0.00% |
-0.07%
|
0.07% |
-0.14%
|
|
EUR 2yr Bond |
2.61% |
0.02% |
-0.07%
|
0.47% |
74% |
|
EUR 10yr Bond |
2.93% |
0.00% |
-0.10%
|
0.08% |
28% |
|
EUR 30yr Bond |
3.47% |
-0.01%
|
-0.10%
|
-0.02%
|
0.33% |
|
JPY 2yr Bond |
1.40% |
0.01% |
-0.01%
|
0.31% |
0.67% |
|
JPY 10yr Bond |
2.64% |
0.03% |
0.02% |
0.62% |
1.08% |
|
JPY 30yr
Bond |
3.82% |
0.06% |
0.03% |
0.40% |
0.65% |
|
|
|
Oil and Commodity Trends |
|
|
Oil prices fell on Friday as
prospects brightened for more supply after oil tankers began moving
through the reopening Strait of Hormuz following a peace deal between
the United States and Iran.
|
|
|
Brent crude futures fell 43 cents, or 0.54%, to USD79.42 a barrel and U.S.
West Texas Intermediate crude slipped 17 cents, or 0.22%, to USD76.43 a
barrel, with the front-month July contract expiring on Monday. |
|
|
The more actively traded August contract was down 30 cents at USD75.55 a
barrel. |
|
|
On Thursday, both benchmarks touched their lowest since early March as
several tankers, including three Saudi-flagged vessels carrying 6mn barrels
of crude, sailed through the strait hours after the presidents of Iran and
the United States signed an interim deal to end their war. |
|
|
Analysts expect the deal to release more than 85mn barrels of oil stranded
in the Middle East Gulf into global markets. The agreement also includes the
lifting of U.S. sanctions on Iranian oil, which would further swell supply.
|
|
|
Roughly a fifth of the world's oil and liquefied natural gas transited the
strait prior to the war, and analysts have suggested trade could return to
normal in coming months if the U.S.-Iran deal holds. |
|
|
Middle East producers are also gearing up to resume exports. |
|
|
Kuwait Petroleum Corp said on Thursday it had lifted with immediate effect
all force majeure notices issued during the war. |
|
|
Iraq's oilfields are ready to resume production and output will gradually
return to normal, restoring previous rates, Oil Minister Basim Mohammed
said. |
|
|
Precious metals were under pressure due to a strong dollar. Spot gold
slipped 0.5% to USD4,188 an ounce, while spot silver also fell 0.8% to
USD65.30 an ounce. (Refinitiv) |
|
Commodity Prices
|
Commodities/ Bitcoin |
Current |
Price Change |
|
1D |
1W |
6M |
1Y |
|
Brent (USD/bbl) |
95.3 |
0.7% |
8.5% |
17.1% |
40.9% |
|
WTI (USD/bbl) |
90.6 |
0.4% |
10.2%
|
21.4% |
39.0%
|
|
Nat. Gas (USD/MMBtu) |
2.9 |
1.4% |
3.6%
|
0.9% |
-2.2%
|
|
Gold (USD/oz) |
4,305.0 |
-0.6% |
-6.2%
|
-16.3% |
27.3%
|
|
Silver (USD/oz) |
63.7 |
-0.6% |
-6.5%
|
-23.8% |
68.5%
|
|
Copper (USD/lb) |
641.9 |
-1.4% |
-2.7%
|
9.6% |
46.3%
|
|
Soya (USD/T) |
1,207.0 |
0.2% |
0.9%
|
18.9% |
42.5%
|
|
Wheat (USD/bu) |
774.8 |
1.4% |
6.1%
|
36.7% |
52.4%
|
|
Corn (USD/bu) |
514.0 |
-1.4% |
0.0%
|
19.1% |
34.7%
|
|
Polyethylene (CNY/MTT) |
8,891.0 |
2.8% |
10.8%
|
25.5% |
21.6%
|
|
Bitcoin (USD) |
77,514 |
0.1% |
-1.2%
|
5.7% |
-31.8%
|
|
|
|
UAE Focus List
|
Company |
MCAP (AEDm) |
Price (AED) |
Day (%) |
Valuation TTM P/E |
Div YLD (%)^ |
|
IHC |
844,536 |
385.00 |
0.0%
|
36.56
|
-
|
|
TAQA |
295,710 |
2.63
|
-0.4%
|
39.63
|
1.7%
|
|
ADNOCGAS |
269,405 |
3.51
|
1.2%
|
14.67
|
4.9%
|
|
ENBD |
204,663 |
32.40
|
7.2%
|
8.64
|
3.1%
|
|
FAB |
203,944 |
18.46
|
3.5%
|
10.03
|
4.3%
|
|
EAND |
173,940 |
20.00
|
3.3%
|
14.63
|
4.5%
|
|
DEWA |
141,004 |
2.82
|
1.4%
|
16.11
|
4.4%
|
|
ADCB |
121,851 |
15.40
|
-1.2%
|
9.98
|
4.1%
|
|
Emaar Prop. |
115,084 |
13.02
|
2.4%
|
6.09
|
7.7%
|
|
ADNOC Drill. |
98,243 |
6.14
|
0.2%
|
18.37
|
3.5%
|
|
Alpha Dhabi |
82,402 |
8.24
|
1.4%
|
8.50
|
2.4%
|
|
ADIB |
79,688 |
21.94
|
1.2%
|
12.38
|
4.4%
|
|
2POINTZERO |
78,116 |
2.26
|
2.3%
|
7.30
|
-
|
|
Borouge |
77,852 |
2.59
|
1.2%
|
6.1
|
6.3%
|
|
Aldar |
70,766 |
9.00
|
6.0%
|
8.94
|
2.3%
|
|
Emaar Dev. |
60,802 |
15.20
|
2.6%
|
4.93
|
6.6%
|
|
DIB |
57,783 |
7.98
|
2.6%
|
8.09
|
4.4%
|
|
DU |
53,036 |
11.70
|
0.5%
|
17.58
|
5.5%
|
|
Modon |
51,658 |
3.16
|
1.6%
|
12.85
|
-
|
|
ADNOC Dist. |
50,126 |
4.01
|
1.3%
|
17.13
|
5.1%
|
|
Salik |
45,751 |
6.10
|
2.5%
|
29.48
|
3.4%
|
|
ADNOCLS |
45,502 |
6.15
|
1.0%
|
14.38
|
2.6%
|
|
Air Arabia |
27,488 |
5.89
|
5.9%
|
17.49
|
5.1%
|
|
Pure Health |
25,890 |
2.33
|
4.0%
|
13.73
|
2.3%
|
|
AD Ports |
24,178 |
4.75
|
2.4%
|
13.64
|
-
|
|
Fertiglobe |
23,161 |
2.79
|
3.0%
|
11.15
|
4.2%
|
|
Presight |
21,033 |
3.75
|
1.4%
|
35.65
|
-
|
|
NMDC |
18,053 |
21.38
|
3.5%
|
5.54
|
4.7%
|
|
Americana |
17,353 |
2.06
|
1.0%
|
18.83
|
4.3%
|
|
Empower |
17,000 |
1.70
|
3.0%
|
16.08
|
5.1%
|
|
NMDC Energy |
15,150 |
3.03
|
-0.7%
|
10.35
|
5.3%
|
|
DFM |
12,400 |
1.55
|
4.0%
|
12.19
|
4.2%
|
|
LuLu Retail |
10,329 |
1.00
|
0.0%
|
15.49
|
7.0%
|
|
|
Upcoming Corporate Events
|
Date
|
Company
|
Event
|
|
22-Jun
|
BILDCO
|
BoD/General
|
|
24-Jun
|
Ektittab
|
General Meeting
|
|
25-Jun
|
Gulf Navigation
|
BoD/General
|
|
26-Jun
|
Borouge
|
General Meeting
|
|
29-Jun
|
MBME Group
|
AGM
|
|
29-Jun
|
Sagasse Investment Company
|
AGM
|
|
|
Disclaimer
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|
