UAE daily stock market reports for Abu Dhabi Securities Market (ADSM) and Dubai Financial Market (DFM) - RSS feed

Thursday, December 28, 2006

DFM irony, Dana Gas 28 Dec 06

Dubai and Abu Dhabi Market news & discussions today

UAE Market Report for Thursday 28 December 2006

As it turns out, the report sent yesterday was halfway accurate after all, but who would have guessed! Ironic that today of all days is when DFM is shut down after the erroneous claim made in yesterday's Share Wadi email (yesterday's post was edited to remove the error sent in the email). The Dubai Financial Market was closed due to technical issues - a problem with one of Etisalat's cables into the Trade Center. It should be resolved by Tuesday 02 January 2007 when it is scheduled to reopen. ADSM was still trading and had another positive day with a 1% rise to close a hair below 3000 points at the end of 2006 - 2999.66 to be precise.

Dubai Financial Market

Closed due to technical problems.

Abu Dhabi Securities Market

ADSM had another increase in volume to 143m dhs from 1940 trades (maybe because no one could trade on DFM). Most stocks increased - 28 out of the 37 traded today - while 3 were unchanged and 6 fell. FOODCO (-5.9%, 4.31) the worst while OILC, UNB, RAKPROP, ADNH, SIB/NBS all fell around 1% or less.

Most notable stock was Dana Gas (DANA) with a 3.3% rise to 1.57 on a mighty 37m dhs worth of trading - much higher than usual volumes in recent weeks. Just over 40% of the total volume was traded in the last 5 minutes of today's session when the market must have become aware of the news that SABIC (Saudi Basic Industries Corporation) is in talks with DANA Gas about avenues for cooperation.

Al Dar Properties (ALDAR) another one with a big increase in volume on a 3.7% rise to 3.92 and 24m dhs worth traded. RAKPROP (-0.7%, 1.48, 23m dhs) still busy but a slight decrease after the solid gains this week, and OILC (-1.2%, 9.81, 14m dhs) on surprisingly large volumes today with a 10.15 dhs peak during the day but down by the end of the session.

Of the more active stocks today, there were decent increases from ADSB (+3.6%, 2.85), AGTHIA (+3.2%, 1.30), SUDATEL (+3.3%, 7.80), BILDCO (+2.9%, 3.97) RAKBANK (+4.8%, 7.42) and 0-2% increases for AABAR, ADCB, ETISALAT, FGB, RAKCC, SOROUH, TAQA, JULPHAR, GCEM.

Big increases from ABNIC (+10%, 9.68) and NMDC (+8.8%, 4.35) out of a single small trade from each of them, while FH (+4.3%, 8.34) saw just 3 trades completed.

ADIB didn't trade at all in the end after the notification of a delay due to ADIB's board meeting this morning.

ADSM and DFM will be closed for Eid Al Adha break, next trading day is Tuesday 02 January 2007.

Eid Mubarak and Happy New Year!

Discuss and read UAE company news at Dubai Share Talk.

Wednesday, December 27, 2006

ADSM up 27 Dec 2006

Dubai and Abu Dhabi Market news & discussions today

UAE Market Report for Wednesday 27 December 2006

Almost the last trading session on DFM and ADSM for 2006 ended on a bit of an upbeat with First Gulf Bank (FGB), Abu Dhabi Commercial Bank (ADCB) Al Dar Properties (ALDAR), Abu Dhabi Ship Building (ADSB), and RAK Properties (RAKPROP) all having an especially splendid day today. It was of course an overall miserable year for anyone who piled in anytime in the first six months of 2006 but with strong economic growth forecast for 2007 for the UAE, you would expect to be looking at much better returns on your investments by this time next year. TASI (Saudi's Tadawul Index) is up 0.4% so far today.

Dubai Financial Market

DFM started off at 4072 points and after an initial hiccup bottoming out at 4055, the DFM general index charged ahead to finish at 4127 for the day. Very thin trading volumes with only AED 222m of shares by value from 2394 deals. All the actively traded stocks, except for ARMX (-0.4%, 2.64) and DU (-1.1%, 6.54), increased today with SHUAA (+2.4%, 4.69) the best of them. DU possibly depressed about their launch delay until 2007 Q1. Newly listed Arab Heavy Industries scored a grand total of 0 trades.

EMAAR (+1.7%, 12.20) traded half the total value for the day as usual, AMLAK, IAIC (+2.1%, 2.96), DIC, DIB, TABREED, TAMWEEL all rose 1-2% while ARTC and UPP rose less than 1%. Big rises from stocks rarely traded: MAZAYA (+15%, 8.05, 1 trade), CBD (+4.8%, 7.60, 2 trades), GGICO (+4.2%, 8.40, 2 trades), OIC (4.7%, 16.85, 2 trades) - second day in a row we've seen activity from them. Only three stocks fell on DFM today, the third was NBD (-0.4%, 9.00, 2 big trades). And EBI stayed flat at 13.00 dhs/share.

Abu Dhabi Securities Market

Total trading volume on ADSM was 121m dhs from 1334 deals. There seem to be an increasing number of stocks traded, albeit in small amounts, on ADSM recently - perhaps investors are finding better value in some of the more obscure companies.

As mentioned, the stars on ADSM today with strong rises on healthy volumes were ADCB (+1.8%, 5.69, 15m dhs) - much higher than normal volume, ADSB (+7.4%, 2.75, 1.5m dhs) - big rise on abnormally high volume, FGB (+2.1%, 12.05, 16.5m dhs) - higher than normal volume, NBAD (+2.7%, 20.70, 9.2m dhs) - high volume, and RAKPROP (+3.5%, 1.49, 14m dhs) - decent rise on good volume and that comes after two previous days of solid increases in RAK Properties shares.

TAQA, RAKCC, OILC, AGTHIA, ETISALAT, all rose less than 1%, and DANA and AABAR rose 1-2%. Biggest rises from FCI (+7.4%, 4.50, 3 big trades), NBQ (+5.2%, 5.50, 1 trade), ADNH (+5.1%, 4.73, 2 trades), ADNIC (+6.3%, 8.50, 1 trade).

Biggest losers were EIC (-3.2%, 12.10, 3m dhs), JULPHAR (-2.1%, 1.85, 5 trades), while DRIVE, ADIB, FOODCO, UNB and INVESTB all fell 1% or less.

Tomorrow is the last day of trading for ADSM and DFM in 2006. After that they will be closed for Eid Al Adha break, reoopening on Tuesday 02 January 2007.

Discuss and read UAE company news at Dubai Share Talk.

Tuesday, December 26, 2006


Dubai and Abu Dhabi Market news & discussions today

UAE Market Report for Tuesday 26 December 2006

Another day, another fall. For DFM and ADSM at least, although no shares on DFM fell more than 2%. Trading volumes were low for DFM but up for ADSM - mostly due to heavy trading in Etisalat shares with a 1.5% fall. Saudi's Tadawul (TASI) is up slighty so far today by 0.1% to 7869 points and average volume of 5.1 billion riyals.

Dubai Financial Market

DFM had a 0.3% fall to 4078 points with only 345m dhs worth of trading. EMAAR remained flat at 12.00 dhs and 210m dhs worth traded. UPP the only one of the more active DFM stocks to show an increase (+0.7%, 3.00). TABREED and SHUAA were unchanged. TAMWEEL, AMLAK and ARMX all falling a little over 1%, and ARTC, DIC, DIB and IAIC all falling less than 1%.

EBI (-0.4%, 13.00) had a small decrease on usual trading activity with 350,000 shares changing hands. ARIG (+5.3%, 2.59) was also busier than normal with almost 200,000 shares traded (highest daily volume in over 6 months) and the largest increase for the day - makes sense really since there were a couple of big drops in ARIG this week. OIC (Oman Insurance Company, +3.9%, 16.10) traded for the first time this month but only 2,000 shares were exchanged. AMAN (+3.4%, 19.65) volumes were down a bit today.

Abu Dhabi Securities Market

The ADSM index was down by just a point to 2927 with ETISALAT (-1.5%, 16.70) trading a heavy 57m dhs worth. Perhaps Shuaa's speculation that Etisalat may buy part of Wataniya has something to do with it? The only other news today is Etisalat charging more for directory enquiries calls - seems unlikely the market reacted in such a big way to that. RAKPROP (+5.1%, 1.44) was also much more active than normal with 18.5m dhs worth of trading and the biggest rise of the active stocks on ADSM - that's on top of a 4% rise yesterday. No news on SCA or ADSM sites. Total trading on ADSM of 148m dhs (50% more than yesterday) from 1457 deals with 18 stocks up, 16 down and 2 unchanged.

ALDAR (+2.8%, 3.63) and ADIB (+3.4%, 51.75) showed decent increases. DANA, AABAR, ADCB, RAKCC all rose 1% or less on normal volumes. SOROUH, TAQA, SUDATEL, OILC, FGB, GCEM all fell less than 2%.

A big plunge from FOODCO (-9.6%, 4.63) today from 18 deals - maybe more would have gone through but there were no buyers in the queue. Higher than normal volumes the past two days. FH (Finance House, -7.1%, 7.72) also with a large drop on increased volume today although the last trades were back up to where it started.

Big rises from some rarely traded stocks: FCI (+8.8%, 4.19, 3 trades), NBF (+9.9%, 5.00, 1 trade), RAKBANK (+10%, 7.05, 1 trade), and falls from ASMAK (-9.4%, 3.76, 1 trade), AKIC (-6.9%, 1.90, 1 trade), RAKWCT (-5%, 1.71, 7 trades), RAKCEC (-8.5%, 5.72, 3 trades).

Discuss and read UAE company news at Dubai Share Talk.

Monday, December 25, 2006

DFM & ADSM up 25 Dec 2006

Dubai and Abu Dhabi Market news & discussions today

UAE Market Report for Monday 25 December 2006

A brighter day on the markets than yesterday with DFM up 1.3% to 4089 points and 550m dhs trade value, ADSM barely rising with a 3 point increase to 2928 from 2925 points and 111m dhs trade value, and Saudi's Tadawul (TASI) up 0.3% on higher volumes - 9.1 bn riyals so far today, but the index still a couple of hundred points below 8000.

Dubai Financial Market

It looked good in the first 15 minutes with the index storming up by 60 points from 4043 to 4108, and another jump to 4125 after that. For the next couple of hours, the DFM index hung around that level before dropping back slightly towards the end of the session, closing at about 4090 points. EMAAR with a 2.5% rise to and two thirds of the total DFM trades by value responsible for most of the increase.

BAYAN had its second day of trading since listing on the DFM and clocked in the record increase for the day at 13.5% to 4.20 with just one small transaction. Out of the more liquid stocks, AMAN had the highest rise of 3.8% to 19.00, AMLAK (+2%, 5.13), ARTC (+1.7%, 5.30), DU (1.5%, 6.70), DIC (1.7%, 4.29), and DIB, TAMWEEL, UPP all up by less than 1%. NBD, which strangely rated a mention in 7 Days as one for profit taking, was up by 2.3% to 9.00 from just a couple of trades - biggish ones though. GFH barely worth mentioning also with a 4% rise to 9.88 from just one deal.

Six stocks fell in price with the worst drop of 10.8% to 7.00 from MAZAYA. Only 2 trades but the total of 550,000 shares was high. ARIG dropped 7.2% to 2.46 on a single trade. SHUAA down 1.9% to 4.58, TABREED down 1.3% to 2.21 and other falls from very few deals for GLOBAL (-6.3%, 12.00, 1 trade), GGICO (2.4%, 8.00, 4 trades).

Abu Dhabi Securities Market

RAKPROP saw a solid rise of 4.6% to 1.37, OILC up 4.6% to 9.87, AABAR (+2%, 2.07), BILDCO (+2.4%, 3.78), ETISALAT (+0.6%, 16.95) - comments today from SHUAA that ETISALAT may buy a chunk of Wataniya Telecom in Kuwait, and ADIB had a 1.4% rise to 50.05 from 19m dhs worth of trading - almost the highest by volume on ADSM.

ADCB with 19.3m dhs worth traded and a 0.9% fall to 5.55 was the highest by value. Other actively traded stocks mostly fell with the worst a 3.8% drop for ALDAR to 3.55 - doubtful it was related to today's release of Aldar's recent board meeting minutes - information was available a couple of weeks ago. Other falls from DANA (-1.3%, 1.48), RAKCC (-0.5%, 2.00), SOROUH (-2.6%, 2.29), SUDATEL (-0.3%, 7.60), TAQA (-1%, 2.09). FOODCO more active than usual, closing at 5.12 and a rise of 6.8% or 1.6% depending on whether you use ADSM or SCA figures.

Record rise today was 8% to 1.89 for JULPHAR from a single trade, ADSB also did well (+6.2%, 2.56, 4 trades). QCEM had the biggest drop (-4.6%, 1.66, 4 trades) with ALDAR not far behind. NMDC (-3.3%, 4.06) also looking a bit ill today.

Discuss and read UAE company news at Dubai Share Talk.

Sunday, December 24, 2006

Stocks down again 24 Dec 06

Dubai and Abu Dhabi Market news & discussions today

UAE Market Report for Sunday 24 December 2006

Saudi's Tadawul index (TASI) dropped 0.9% to 7798 points yesterday which wasn't a lot but it's still a fall. More significant was the news that Saudi fashion retailer Fawaz Abdulaziz Alhokair & Co closed below its IPO (initial public offering price) on its first day of trading yesterday. This was the second listing in Saudi to float at less than its IPO price in two months and is possibly a disturbing indication for the many upcoming IPOs next year in in this region. Saudi news not so good today either with the TASI tumbling another 2% in trading by lunchtime.

Dubai Financial Market looked glum today also with a 2.8% drop in the index to 4038 points from a discouraging 500m dhs worth of trading - most of it from a heavy fall in EMAAR shares. Will we see it drop below 4000 again tomorrow? Abu Dhabi Securities Market was less bad with only a 1.5% drop to 2925 points and 109m dhs worth of shares traded but many stocks not normally very active being traded in larger quantities on falls of disturbing sizes. The index appears to have been saved from worse by heavy trading in ADIB, ADCB, NBAD, and FGB on smaller drops - possibly investors taking note of a recent report from EFG Hermes on UAE bank stocks. There was an obscure article about increased building costs for 2007, it seems unlikely but perhaps that prompted a bit of activity - a lot of developer and building material stocks were active today.

Dubai Financial Market

There was no hope today on DFM. It started off at 4142 points and headed resolutely down with a couple of minor hiccups along the way. ARIG the only share to increase (+3.5%, 2.65, only 3 trades). CBD stayed flat (7.25), and EMAAR dragging the index down with an almost 5% loss for the day (-4.9%, 11.70, 317m dhs by value). There appear to be a few anomalies between trading information from DFM site 1 and DFM site 2. It looks like DFM 2 is the correct version (DFM 1 shows EBI, GGICO, and UPP all showing an increase for the day).

Other losses from AMLAK (-3.5%, 5.03), ARTC (-3%, 5.21), ARMX (-3.6%, 2.68), DU (-1.8%, 6.60), DIC (3.9%, 4.22), DIB (-1.7%, 7.97), AMAN (4.4%, 18.30), IAIC (-3.7%, 2.88), SHUAA (-1.9%, 4.67), TABREED (-3.9%, 2.24), TAMWEEL (-2.2%, 4.08), UPP (-1.3%, 2.97) and the biggest drop from GLOBAL (-8.6%, 12.80, only 4 trades).

Abu Dhabi Securities Market

Abu Dhabi Securities Market saw losses from 31 traded stocks, 2 unchanged, and 5 increasing. The most significant increase that of Abu Dhabi Commercial Bank - only 0.7% to 5.60 but on a still significant 12m dhs worth. It rather knocks the EFG-Hermes report on UAE banks into touch - they did not rate ADCB very well compared to the other banks, which all fell today.

Other rises from AKIC (+1.5%), QTEL (+1.3%), SUDATEL (+0.8%)

Stone parrots come to mind when looking at AABAR (-5.6%, 2.03), TAQA (-3.7%), SOROUH (-2.5%), RAKCC (-1.5%), RAKPROP (-3%), DRIVE (-3.7%), FH (-3.6%), FCI (-3.5%), BILDCO (-4.4%, 3.69), OILC (-5.5%, 9.44), QCEM (-8.4%, 1.74), NMDC (-7.7%, 4.20) and an obnoxious 9.2% drop to 2.88 for TKFL - many in this list seeing more active trading than usual. Other big drops on thin trading for RAKBANK (-9.5%, 6.41), and FOODCO (-8.2%, 5.04).

The most active shares by value were ADIB (-1.6%, 49.35, 14m dhs), FGB (-0.8%, 11.90, 13m dhs), NBAD (-0.5%, 20.25, 16m dhs), DANA (-3.2%, 1.51, 10m dhs). Unusual to see NBAD in that list, no obvious news to explain it unless people are reacting to the EFG-Hermes report, similarly for FGB.

Discuss and read UAE company news at Dubai Share Talk.

Thursday, December 21, 2006

UAE shares 21 Dec 2006

Dubai and Abu Dhabi Market news & discussions Thursday 21 December 2006

UAE Market Report for Thursday 21 December 2006

A distasteful day for Abu Dhabi Securities Market with a 1.3% fall to 2969, dropping through the 3000 points level for the second time in recent weeks. Dubai Financial Market was less worrying with much lower volumes and a fall of only 0.2% to 4153 points. Similar to the behaviour yesterday on Saudi's Tadawul (TASI) where it dribbled down by 0.3% to 7865 points. The TASI trading week runs Saturday to Wednesday.

Dubai Financial Market

The DFMGI (DFM General Index) started off poorly enough with an intial drop to 4147 before sharply rising to 4187 points - the peak of the day. It stumbled about for most of the rest of the day before a final dip and rise to close at 4153 points. ARTC tried to keep the index up with a 2% rise but couldn't fight the negative sentiment from TABREED and TAMWEEL, both with falls of 2%. EMAAR and AMLAK and other actively traded shares moved less than 1% each.

Biggest rise from GFH (+4.4%, 9.50, only 1 trade), other rises from ARTC (+2.3%, 5.37), DIC (+1.2%, 4.39), SHUAA (+1.7%, 4.76), NBD (+2.2%, 9.00, 4 trades), EBI (+0.4%, 13.05, 2 trades). Dubai Investment's dividend forecast today didn't appear to get the market that excited even though it makes the shares look reasonably cheap at current prices with a PE of less than 9.

A bit of a clanger of a day for ARIG (-13.2%, 2.56, only 1 trade), and NRE (-15%, 7.67, only 1 trade). AMAN also looking unsteady with a 3.3% fall to 129.15

Other falls from AMLAK (0.8%, 5.21), ARMX (0.7%, 2.78), DU (0.6%, 6.72), DIB (-1.1%, 8.11), EMAAR (0.45, 12.30) and IAIC (0.7%, 2.99). UPP no change at 3.01.

New listings BAYAN and SHOP had no trades today.

Abu Dhabi Securities Market

Abu Dhabai Securities market had 1170 deals and total volume of just below 100m dhs with 29 stocks dropping, 4 unchanged and 6 going up. There were several rarely or thinly traded stocks that saw substantially increased activity - usually on falling prices. Could be disappointing 2006 profit information leaking in to the market.

Biggest rise from EIC (+6.8%, 12.50). Other stocks rising were BOS (+3.8%, 2.75), RAKWCT (2.9%, 1.80), ADSB (2%, 2.55), and FGB (+0.8%, 12.00, volume of 4.6m dhs still high).

Big tumbles from ASMAK (-10%, 4.15), RAKBANK (-9.9% to 7.08) and CBI, NBQ, JULPHAR (increased volumes), NMDC, DCI, TKFL all dropping 7-9% on very few trades.

High volume trading from ADIB with 26m dhs worth on a 4.2% fall to 50.15 - worrying, and no news today to explain it. NMDC with almost 7m dhs worth of trading - more than the total for the past 2 months - and a fall of 7.5%. There must be some bad news coming. ADCB also still up there with 10m dhs worth but no change in price. DRIVE much busier than usual with 1.4m dhs of trading and a hefty 4% fall to 1.88 - news of a capital increase for Emirates Driving Company doesn't seem to be good. FCI (Fujairah Cement Industries) rarely trades but saw 2.8m dhs worth go through with a nasty 7.4% fall to 3.99 - biggest one day volume since it listed in Nov 2005.

A couple of insurance companies also saw increased interest. AKIC up 3.6% to 2.01 from 1.3m dhs and 15 trades, TKFL down 7% to 3.17 from 1.4m dhs worth of deals.

Other actively traded shares taking a dive were SOROUH (-2.8% to 2.41), AABAR (-2.3% to 2.15), DANA (-1.9% to 1.56), SUDATEL (-1.8% to 7.56), ETISALAT (-1.8% to 17.05), and BILDCO (-1.8% to 3.86).

Discuss and read UAE company news at Dubai Share Talk.

Wednesday, December 20, 2006

DFM ADSM stocks 20 Dec 06

Dubai and Abu Dhabi Market news & discussions Wednesday 20 December 2006

UAE Market Report for Wednesday 20 December 2006

So much for any positive sentiment on DFM in the past week or so. With a 3% decline on just over AED 1 billion worth of trading, the bear still appears to have the market in it's grip. The decline on the ADSM accelerated a little today with a 0.6% drop to 3009 points - that 3000 level is approaching once again - and most stocks declining on increased volume from yesterday. Saudi's TASI continues the fall from yesterday albeit less hair-raising with a 1% drop so far today to 7814 points.

Dubai Financial Market

The DFMGI (DFM General index) opened encouragingly at 4290 points but then declined steadily to finish the session at 4154 points with 6232 deals going through and 16 falls out of 22 traded stocks - EMAAR, DIC and AMAN leading the downward spiral. Of the other 6 companies, 3 were up and 3 stayed the same.

Largest rise was a 15% jump to 5.68 from SHOP (Kuwait Commercial Markets Complex) - not a name I've seen traded before, it appears that today was the first day of trading on DFM for SHOP. MAZAYA also looked good with a 12.5% rise to 7.99 but from only 2 rare trades. Other rises on very few trades from ARIG (0.3%) and EBI (3.1%).

AMAN had the highest fall with a 5.5% drop to 19.80 dhs. EMAAR down a gut-wrenching 5% to 12.35 with 686m dhs worth of trading - about two-thirds of the total DFM volume.

Other falls from ARTC (2.2%), ARMX (2.8%), DU (2.5%), DIC (5% to 4.34), DIB (3.3% to 8.20), AMLAK (4.2% to 5.25), IAIC (3.2% to 3.01), SHUAA (2.5% to 4.68), 3.6% to 2.38), TAMWEEL (3.6% to 4.26), UPP (3.2% to 3.01).

Abu Dhabi Securities Market

ADSM saw 1269 deals go through with a total value of 106m dhs - slightly more than average trading volume in recent weeks - with 10 stocks up and 28 down.

Most heavily traded shares by value from ADCB with 15.5m dhs worth and a 0.7% fall to 5.56. Perhaps a reaction to the denial of the ADCB / Macquarie Bank / DIFX tie up which will supposedly be signed off in a weeks time anyway. ADIB pipped ADCB by value with 15.8m dhs worth of trading but a disagreeable fall of 3.2% to 52.35. No other stocks traded more than 10m dhs worth today but a few unusually high volumes from some stocks that are normally rather quiet. FGB saw 8m dhs worth (up 0.9% to 11.90) - down a bit from previous days but still high for them. GCEM also up there with 4.8m dhs of trading (down 1% to 4.03), and NBAD much higher than normal with 8.5m dhs worth (up 2.5% to 20.35). OILC after news of the leasing deal with NAS had 4m dhs of stocks traded (up 0.5% to 10.15) and FH for no apparent reason had 1.1m dhs of trades.

Biggest rises from CBI (up 9.6% to 2.98 - almost exactly reversing yesterday's drop), ALAIN (up 6.9% to 177.40), JULPHAR (up 4.4% to 1.90).

Heavy falls from EIC (9.7%), FOODCO (8.5%), and DRIVE (4.4%). Other popular stocks falling were BILDCO (3.4%), ETISALAT (2.3%), DANA (0.6%), UNB (2.8%), SOROUH (2.4%), RAKPROP (2.2%), TAQA (1.8%), ALDAR (1.7%) and AGTHIA (1.6%).

Discuss and read UAE company news at Dubai Share Talk.

Tuesday, December 19, 2006

UAE share report 19 Dec 2006

Dubai and Abu Dhabi Market news & discussions Tuesday 19 December 2006

UAE Market Report for Tuesday 19 December 2006

Dubai Financial Market had a 1% fall today while ADSM was up very slightly. Saudi's Tadawul index (TASI) is being hammered with a 3.4% drop so far today to below 8000 points again - following six days of successive increases. SABIC announced a 13% reduction in dividends for 2006 which might have prompted the fall - they are the biggest listed company over there. In the UAE markets, biggest news today from AABAR, ADCB and FGB (see links above).

Dubai Financial Market

DFM down almost a percent (0.9% to 4292 points) with lower volume of 800m dhs and less than 5000 deals executed. Only 3 stocks were up today on DFM, 1 stayed flat and 16 fell.

BAYAN Investment Company from Kuwait was a new listing today and kicked off with only 3 trades and a 2 fil increase from however they figured out the previous close to 3.70 dhs.

GLOBAL trumped the winners list today with its first trade this month - only 1000 shares - but a 7.7% rise to 14.00. CBD traded an extraordinary volume of 10m shares (usually they're at zero daily volume) with a rise of 2.1% to 7.25 dhs.

Biggest decreases from NCC down 4.9% to 15.45 on only 3 trades - first since Nov 2006 - and no buyers in the queue, and AMAN (Dubai Islamic Insurance) down 4.3% to 20.95.

EMAAR down 0.8% to 13.00 on relatively lower volume - only half the total traded on DFM today. AMLAK down 1.3% to 5.48, DIC down 2.4% to 4.57. Other smaller falls from TAMWEEL (0.7%), TABREED (2%), SHUAA (1.6%), IAIC (1%), DIB (0.9%), DU (0.7%), ARMX (0.3%), and ARTC (0.6%).

UPP remained flat at 3.11 dhs.

Abu Dhabi Securities Market

Much lower volume today on the Abu Dhabi Securities Market with only 64m dhs worth from less than 1000 transctions. The ADSM index rose just 0.06% (or about 2 points) to 3026.

FGB one of the few shares to increase, up by 0.9% to 11.80 on reasonably busy trading but quieter now that news of an Islamic Bank subsidiary is out. SOROUH (up 0.4%) and TAQA (up 0.4%) the only other two actively traded shares showing an increase. Big rises on a total of 4 trades from ASMAK (9.5%), RAKBANK (9.9%), and UAB (9.6%) - first time United Arab Bank has seen a trade since the end of October 2006.

ADIB down 2.4% to 54.10, NBAD still more active than normal with a 2.5% drop to 19.85, and OILC down 1%.

ADCB was flat but still busy with just under 10m dhs worth traded and a closing price of 5.60. See the ADCB and Macquarie Bank news. Aldar also flat and a 4.02 close, ditto for RAKPROP closing at 1.39 and ETISALAT with a 17.55 close and much lower volumes than yesterday.

Other decreases from AABAR (0.9%) - surprisingly quiet despite the Pearl Energy Gas concession in Thailand news, DANA (0.6%), DRIVE with a busy day and a 3.4% drop to 2.05 - related to DRIVE's capital increase meeting probably, and AGTHIA down 0.8%.

Biggest drop of 9.3% from CBI which sounds unfortunate after they just opened their first Abu Dhabi branch, and showed themselves off at the Abu Dhabi motorshow. But it was one of those head-scratchingly small trades of 50 shares for a total of 136 dhs, and the only one today - perhaps someone doesn't like their new pink logo. RAKWCT also had an unpleasant day with a 5.4% drop from only 3 trades to 1.75.

Discuss and read UAE company news at Dubai Share Talk.

Monday, December 18, 2006

DFM & ADSM 18 Dec 2006

Market report for UAE shares Monday 18 December 2006

It was one of those days that didn't really go anywhere in the end. DFM was down a fraction by 0.3% to 4331 points - the responsibility for that lying mostly with EMAAR and AMLAK which both retreated about 2% after yesterday's 4% scramble upwards. ADSM was down by an even smaller amount, only 0.2% to finish at 3024 points but on slightly increased volume. While the Tadawul in Saudi (TASI) nears the closing bell today on a slight rise of 0.2% with over 16 billion riyals worth of trading.

Dubai Financial Market (DFM)

A bit of a wobbly start with a fall to 4321 points in the first part of trading but then a steady rise to the day's high of 4368 before falling quickly back to 4321 points and a small jump before closing. Just over 1 billion dhs worth of trades today.

AMLAK was down 1.9% to 5.55 and EMAAR also down 1.9% to 13.10. Small drops of less than 1% from DIC and DU, while GGICO once again gpt thumped 4.8% on only 2 trades.

Despite the overall fall in the DFM general index, only 5 stocks fell while 9 rose. Biggest rise was 2.6% to 9.00 from NBD from only 3 trades. Other rises were AMAN up 1.9%, SHUAA (0.6%), TABREED (1.2%), UPP (1%), ARIG (0.7%), ARTC (1.3%), ARMX (1.4%), DIB (0.8%) and IAIC up 1.3% to 3.14 on almost 100m dhs worth of trading - a bit higher than usual for them and second only to EMAAR by value.

TAMWEEL remained the same at 4.45.

Abu Dhabi Securities Market (ADSM)

Large increases on low volumes from ASMAK (9.4%), NMDC (7.7%), AWNIC (6.1%). Other rises worth noting from JULPHAR (1.6%), NBAD (1.5% and unusually high volume - 7.8m dhs), OILC (1%), AGTHIA (0.8%), and SOROUH (0.4%). DANA Gas price remained unchanged as did UNB's, but volumes higher than normal for UNB with 4m dhs worth traded.

Big volumes from ADCB (11.6m dhs, no price change), ADIB (12.1m dhs, down 2%), ALDAR (12.7m dhs, down 0.25%), TAQA (13m dhs, down 3%), ETISALAT (14.2m dhs, down 0.3%), and FGB with the highest trading for the day by value - 16.2m dhs and a decrease of 2.1%. Still no obvious news on the reason for the increased interest in FGB and ADCB shares recently. Biggest fall for the day was from TKFL with a 5.8% drop to 3.44.

FH (Finance House) once again had a single trade of only 10 shares (worth 83 dhs). Same thing happened last week with FH. Most odd.

There appears to be increased interest in the banking sector with several bank shares trading increased volumes. A hopeful guess would be that they'll be paying out a decent dividend for 2006 so investors are loading up.

Meanwhile, on the forum, lalicom is looking for estimates of where the Emaar share price will be in 3 years time. Throw in your best try now - we'll have some fun digging up that topic again in three years time!


Discuss and view previous reports at Dubai Share Talk discussion for December 2006.

Sunday, December 17, 2006

Dubai & Abu Dhabi 17 Dec 2006

Market report for UAE shares Sunday 17 December 2006

A good show on DFM today with a 2% rise in the index to 4345 points and a healthy 1.37 bn dhs worth of trading from 7110 deals. ADSM fared less well with a marginal drop of 0.05% to 3030 points although volume was a reasonable 103m dhs worth of trading. Saudi's Tadawul index (TASI) was up by 0.8% to 8229 points on a solid 14.5 billion riyals worth of trading - continuing nicely on from the healthy 2.7% rise yesterday to 8162 points. The Kuwait Stock Exchange also had a decent 2.6% rise yesterday after the exchange punished several shareholders for non-compliance with regulations. Today the KSE fell by 1.2% though.

Dubai Financial Market (DFM)

EMAAR and AMLAK once again charged ahead with a 4.7% rise to 13.35 from EMAAR on almost 1 billion dhs worth of trades, and a 4.2% rise to 5.66 for AMLAK, also with a higher than usual 156m dhs worth. That kind of volume and rise for EMAAR amd AMLAK may indicate something more than just positive market sentiment is going on, especially since nothing else rose more than 2% except for GGICO - but that's a relatively illiquid share that bounces all over the place most days. GGICO were up 4.9% to 9.03 today by the way with a grand total of only 3 trades.

Other shares increasing today were DIB (2%), AMAN (1.9%), DIC (1.7%), DU (1%), IAIC (1.6%), and less than 1% from TABREED, TAMWEEL, and UPP.

Only three stocks fell today on Dubai Financial Market. SHUAA down 0.2% to 4.85, NBD down 2.6% to 8.77 and EBI with a solitary trade down 0.4% to 12.90.

Abu Dhabi Securities Market (ADSM)

Despite the marginal fall in the ADSM index, 20 stocks rose while only 12 fell, with 5 remaining flat.

The biggest rises from FOODCO (5.2%) and SCIDC (4.6%) with only 7 trades between them. GCEM was up 3.2% to 4.13 on reasonable volumes for them. ADCB very active today with 11.6 m dhs worth traded and a 1.6% rise to 5.60. BILDCO also surprisingly busy with 8.4m dhs of deals done but share price flat at 4.17. Both of them ahead of ADIB by value which had a small 0.1% rise to 56.60. RAKCC was up 1% and SUDATEL up 0.1%. No other rises of more than 2% amongst the less active stocks.

FGB was the most active by volume with a huge (for them) 22m dhs worth traded and a 0.4% fall to 11.95. In the absence of any other news, my best guess is that FGB is buying back shares. Other falls today from TAQA down 3.3% to 2.32, RAKPROP down 0.7% to 1.39, AGTHIA down 2.3% to 1.27, DANA down 1.2% to 1.61 and ALDAR down 1% to 4.03.

AABAR and SOROUH traded but price was unchanged from Thursday's close.

RAKBANK had a rare single trade and the record fall of 9.5% to 7.15. FH also with a good drop - 4.8% to 8.50 and only 4 trades. Big ones though, over 300,000 shares changed hands.

RAKNIC (Ras AL Khaimah National Insurance Company) EGM from 13 Dec 2006 announced that up to 25% of its shares could be owned by foreigners now. Not that anyone got particularly excited with no trades going through today. The last time RAKNIC traded was 19 Oct 2006. Still, that's the third UAE insurance company to open up to foreign ownership this year. Perhaps indicative of more to come?

Thursday, December 14, 2006

UAE equities 14 Dec 2006

UAE Market report for Dubai Financial Market and Abu Dhabi Securities Market 

Thursday 14 December 2006

It was a bit of a mixed day in the markets today. DFM volumes were up to a respectable 1.5 bn dhs worth of trades from almost 9000 deals but the index fell very slightly in the end by 0.1% to 4262 points. ADSM also had increased volume of 143m dhs from 1426 deals and possibly the smallest rise on record - just 0.01% to close at 3031.85, a difference of less than 1 point from yesterday. The TASI was closed today as usual after a reasonable 1.5% rise yesterday with 11.5 bn riyals worth of trading.

Dubai Financial Market (DFM)

The DFM index started the day at 4262 points and shot up to over 4300 points in early trading with a slight fall and then rose again to 4334 points before falling back to about where it started at 4262 points.

Biggest rise from ARIG up 15% to 2.92 but nothing to get excited about - only one small trade, no doubt someone throwing in an order at market price before looking at the bid/ask spread. Other big jumps from WARE up 10% on two smallish trades, and NBD up 4% to 9.00 from 8 trades.

DIC up a reasonable 2.2% to 4.61 on higher than normal volumes of 160m dhs worth - probably related to the news of the completion of Dubai Investment's purchase of Saudi American Glass Company.

Other small rises of less than 1% from DIB, EBI, SHUAA, and UPP.

EMAAR fell back 0.8% to 12.75 but was up to 13.15 at its peak during the day. Once again responsible for about two-thirds of total DFM volume with 846m dhs by value. It looks like the strong rise yesterday may have been related to the annoucement about Emaar's Dead Sea project in Jordan, although it's relatively small as Emaar projects go. Other falls from AMAN (3%), IAIC (1.3%), AMLAK (1.8%), ARTC (0.7%), ARMX (0.7%), and DU (1.3%).

Abu Dhabi Securities Market (ADSM)

Biggest rises from NBAD up 4.2% to 19.85, FOODCO up 3.7% to 5.61, and RAKCEC up 3.5% to 6.25. Most of the high volume shares showed an increase but not quite as dramatic as the top three. ADCB up 2% to 5.51, OILC up 1.55 to 10.25, AABAR up 1.4% to 2.25, UNB up 1.2% to 7.00 and SOROUH, DANA, TAQA, GCEM, and BILDCO all up less than a percent. BILDCO with only 1 trade going through - a sharp contrast from busy trading in previous days.

Significant falls from CBI (9.9%) on higher than normal trading. The only recent news was about the rights issue yesterday. PALTEL (Palestine Telecommunications) down 9.9% to 35.05 on a single small trade - the last time they traded on ADSM was Sep 2006. There was a disclosure yesterday saying they'd changed the date of the BOD meeting. QCEM (Umm Al Quwain Cement) down 6.7% to 1.93 from only 3 trades.

ALDAR had the highest trading by value on ADSM today with just below 30m dhs worth and an unpleasant 2.4% drop to 4.07. Unknown at this stage if there's any reason for that - the sukuk and foreign ownership is old news now. ADIB also heavily traded with 28m dhs worth but closing flat at 56.55 dhs.

Other falls of note were ADAVIATION (3.7%), ETISALAT (1.4%), RAKCC (0.5%) and FGB - still with much larger than normal trading volumes down 0.4% to 12.00.

Discuss and view previous reports at Dubai Share Talk discussion for December 2006.

Wednesday, December 13, 2006

UAE stocks Tue 12 Dec 06

Tuesday 12 December 2006

DFM recovered slightly today with a rise but ADSM was down another fraction by 0.1% to 3038 points. Saudi's Tadawul index (TASI) so far today not looking so healthy with a 1.2% drop to 7700 points and a couple of hours of trading still to go.

Dubai Financial Market (DFM)

DFM kicked off at 4160 points and had a quick rise to 4184 points before gradually dropping to 4148 by mid-session. It then picked up again and ended the day with a sharp rise to 4196 points. Volumes a bit thin with 400 m dhs worth from 3035 trades.

Biggest rise was from GGICO - up 3.6% to 8.61 from only 6 trades. TAMWEEL was popular with a 2.5% rise to 4.40 and 30m dhs worth of trading. EMAAR had a 1.2% increase to 12.30 dhs and, as usual, trading value at 218m dhs was half the DFM total for the day. Other rises from AMLAK (1.2%), ARMX (1%), DU (0.9%), DIB (0.7%), IAIC (0.3%), and TABREED (1.7%). UPP was unchanged.

Only four stocks fell on DFM today. ARTC down just one fil to 5.26, DIC down 0.5%, AMAN down 1.4%, and SHUAA down 1.4% to 4.75 continuing the 2.6% fall from yesterday - perhaps that critical article in Trend Magazine about Shuaa Capital still bothering investors.

Abu Dhabi Securities Market (ADSM)

ADSM was relatively more hectic than DFM. Despite no trading from ADIB - presumably related to ADIB's suspended board meeting - there was still 96m dhs worth of trades from 907 deals with 10 stocks up, 19 down and 1 unchanged.

Biggest rise was 9.9% from ASMAK to 4.00. Well behind were FH (up 3.7%) AKIC (2%), and TKFL (1.5%) with only 1 or 2 trades each. FH (Finance House) with the record for the smallest trade today - only 10 shares in a single trade. The broker fees were almost as much as the value of the deal. INVESTB, UNB, OILC, FGB, ETISALAT and ADCB all rose less than 1% with ADCB more popular than usual - over 1 million shares traded.

FGB (First Gulf Bank) again busier than usual with the third highest volume by value - 10.5m dhs worth and a rise of 0.4% to 12.25. No news of any buy back, perhaps there's some other good news coming? SOROUH headed the ADSM volume tables with 17.6m dhs worth of trading and a 1.2% fall to 2.52. DANA pushed to second place with 13.7m dhs worth on a 1.2% fall to 1.61.

QTEL suffered the most today with a 7.8% drop to 214.80. EIC, DHAFRA, GCEM and TAQA all fell about 2% and the remainder including the more active stocks - RAKPROP, SOROUH, ALDAR, AABAR - falling 0-2%. NBAD fell 0.8% to 18.80 with volumes up from usual levels.

ALDAR price didn't move much even though the EGM yesterday approved a 12.8 bn sukuk and allowing 40% foreign ownership.

DHAFRA (Al Dhafra Insurance) saw only 2 trades go through but they added up to over a million shares. The last time any Dhafra shares were traded was in Sep 2006 - and that was only 75,000 shares. SUDATEL also more active than normal today with 6.5m dhs worth traded and a 1 fil fall to 7.88 dhs.

Discuss and view previous reports at Dubai Share Talk discussion for December 2006.

UAE shares Wed 13 Dec 2006

Wednesday 13 December 2006

A good enough day really. Even though ADSM was down slightly, there were more stocks rose than fell (just), and DFM was up by 1.7% on healthy trading volume. Saudi's Tadawul index (TASI) is up by 0.7% so far today on relatively light trading so far - but it's only halfway through the trading session there.

Dubai Financial Market (DFM)

DFM opened at just below 4200 points, drifted up slightly, down again to 4180 after an hour of trading and then climbed steadily to close at almost 4280 points with 1.2 bn dhs worth of trading from 7090 deals. Only 3 stocks fell, the other 15 that were traded all rose.

EMAAR and AMLAK surged ahead with a 4.3% rise to 5.53 from AMLAK, and a 3.6% rise to 12.85 for EMAAR - EMAAR volumes almost two-thirds of the DFM total at 722m dhs. Presumably general market sentiment rather than excitement over the appointment of the new director of EMAAR Healthcare.

All the actively traded stocks increased today - ARTC (1.9%), ARMX (1.8%), DU (0.6%), DIC (1.3%), DIB (1.8%), AMAN - Dubai Islamic Insurance (0.2%), IAIC (1.6%), SHUAA (0.8%), TABREED (1.6%), and TAMWEEL (0.4%).

DNIR had a single trade today (it's not often they even have one) with a fall of 4.4% to 3.25. WARE (PWC Logistics/Agility) had only 5 trades but almost a million shares were traded on a small drop of 1.5% to 20.00 dhs. Perhaps WARE were buying back more shares. NBD was unusually busy today with just over a million shares traded and a 3.9% drop to 8.65.

Abu Dhabi Securities Market (ADSM)

Just over 100m dhs worth of trading on ADSM today from 1252 trades with 16 stocks up, 15 down, and 5 unchanged. Overall the index was down only 6 points to 3032.

Biggest rises from ADSB (5.8%), ADAVIATION (4.3%) with busier than normal trading for both companies. JULPHAR had a 4% jump to 1.84 on a single trade of only 9 shares. How odd. Trade value was 17 dhs, broker fees would have been 75 dhs. The buyer will need to see almost a 1000% increase in share price to be able to break even.

BILDCO (Abu Dhabi National Building Materials) were relatively active today - they might still be buying back shares. 3m dhs worth changed hands and the price was up by 3.7% to 4.16. TKFL (Abu Dhabi National Takaful) also a bit busier than usual with a 3.5% rise to 3.52 from 1.6m dhs worth of transactions.

Other increases from actively traded stocks were RAKPROP (1.5%), DANA (0.6%), GCEM (0.25%).

ETISALAT price was unchanged but had the highest level of trading activity by value with 34m dhs worth changing hands - well above the 7m dhs worth from DANA Gas (which is often the highest). Possibly the activity today is related to their hopeful prospects in Egypt.

ADIB catching up on the trading suspension yesterday with 22m dhs worth today but a fall of 1.3% to 56.55. The only news from yesterday's board meeting was consideration of a Sukuk deal.

FGB also had another hectic day with a fall of 1.6% to 12.05 from 8.7m dhs worth. The short term traders taking a quick profit from the previous couple of days perhaps.

Big falls from thin trading for FOODCO down 9.9% to 5.41, and GMPC (Gulf Medical Projects Company - rarely traded) down 10% to 4.88.

Other falls from ADCB (0.6%), TAQA (1.2%), SOROUH (0.8%), ALDAR (0.5%). AABAR share price was unchanged from yesterday.

Discuss and view previous reports at Dubai Share Talk discussion for December 2006.

Monday, December 11, 2006

UAE shares Mon 11 Dec 06

UAE Market report for Dubai Financial Market and Abu Dhabi Securities Market

Monday 11 December 2006

Not the most encouraging day on DFM (down 1.5% to 4176 points) or ADSM (down 0.09% to 3040 - just two points down from yesterday) today. And yet Saudi's Tadawul index (TASI) is up by 1.5% today so far. It seems the UAE and Saudi markets are moving in contrary directions these days. Still, after a couple of good days on DFM, it's no surprise there's a bit of a pull back. Volumes are down a bit which is a good sign too.

Dubai Financial Market

It was down, down and down the whole day, from 4237 points at the start to 4160 by the close. Volumes where reduced by 50% from yesterday with 541m dhs worth of trading and 4522 deals.

Only three thinly traded shares showed a gain. CBD up 1.4% with only 3 trades, NBD up 0.6% to 9.00 and WARE up 1.5% to 20.30, the latter two stocks with only 6 deals going through although the volumes were reasonable for such illiquid stocks.

Stocks falling included the rest with the worst falls from MAZAYA with a 5.3% drop to 7.10 but only 1 trade (and the first one this month) and GGICO with a hearty 4.5% dip to 8.40. Ominously for them though, volumes were higher than normal, and this was after yesterday's 7.2% fall.

The big names all fell with the worst of them being EMAAR down 2.8% to 12.25 (and 300m dhs worth of trades), AMLAK down 3% to 5.24, ARMX down 2.5% to 2.78, TABREED down 2.4% to 2.43, and TAMWEEL down 2.5% to 4.36. Other falls were less than 2%. SHUAA's CEO was in the press defending their record after a less than complimentary report appeared in this month's Trend Magazine, but still their shares dropped 2.6% today to 4.87. Only 8 deals went through though - unusually low for Shuaa Capital.

Abu Dhabi Securities Market

ADSM also drifted down but only very slightly. Volumes of 99m dhs worth from 1262 trades were slightly lower than yesterday but still respectable enough. That may not be correct. ADSM website is showing total volume of 89m dhs and 1096 trades.

Biggest rise was a splendid 10% from AWNIC (Al Wathba Insurance) to 6.60 but from a single small trade of 1000 shares. Other rises from ADCB marginally up by 1 fil to 5.42. About time they headed in that direction though. ETISALAT up by only 5 fils to 17.75, FH with only 3 trades had a 3.5% rise to 8.62, FGB again relatively busy with 5.5m dhs worth traded and a small rise of 0.8% to 12.20 - share buyback in progress? NBAD also surpisingly active with 7.2m dhs worth traded and a slight increase of 0.8% to 19.15. QCEM not quite so busy with just one trade and a 3.5% increase.

Our favorite chicken stock, RAPCO (RAK Poultry) saw some action today. A magnificant three deals exchanged with a 4.7% jump to 4.50. Last time they traded was over two months ago at the end of September 2006.

The more active shares mostly took a fall today. SOROUH down 2.3% to 2.55 with higher than normal volume of 19m dhs worth. TAQA down 1.2%, RAKPROP down 1.4% to 1.40, DANA gas the busiest with 17.6m dhs of trading and a single fil reduction to 1.63. AABAR down 2.2% to 2.23 and ALDAR down 0.5% to 4.21. ADIB halted it's climb with a slight pullback and reduced volumes to close at 57.30, down 0.2%. Some mutterings about ADIB allowing foreign ownership may explain the big volumes recently but no concrete news seen so far.

The biggest fall was from ASMAK (International Fish Farms) which flopped 8.3% from two trades to close at 3.64. EIC (Emirates Insurance Company) also with a biggish hit of 4.8% from two trades to close at 12.95.


Sunday, December 10, 2006

UAE stocks Sun 10 Dec 2006

UAE Market report for Dubai Financial Market and Abu Dhabi Securities Market

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Sunday 10 December 2006

A wobbly day today with DFM all over the place and finally closing down by only 0.05% to 4237 points. ADSM performed a little better with an increase of 0.8% to close at 3042 points. Saudi's Tadawul index (TASI) was down 1% yesterday and is down another 1.5% to 7700 points so far today (and still trading).

Dubai Financial Market (DFM)

Total volume traded on DFM was just over 1 billion dhs worth from 6428 trades. The index started off the day at 4266 points and dropped to 4206 fairly quickly, it then wobbled about for the rest of the day and closed at 4237 points with only 3 stocks marginally up (DIC, EMAAR, SHUAA), 1 stayed flat (EBI) and 12 stocks fell.

EMAAR traded 599m dhs worth, more than half the total DFM volume, with the largest rise of the day - up 1.2% to 12.60. DIC was up a single fil to 4.51 and SHUAA also up by a fil to 5.00. EBI remained unchanged at 12.55 with only 4 trades going through.

GGICO got the largest thumping with a 7.2% fall to 8.80 but on a single small trade. AMAN (Dubai Islamic Insurance) a little busier with 26 trades and a fall of 2.4% to 22.15. The rest of the usual basket of liquid stocks only fell 1% or less.

GFH won a best bank award from Arabian Business and the market responded in a completely nonplussed fashion - not a single trade today. Same with WARE (Agility - PWC Logistics) despite news of more contracts possibly being cancelled, share buybacks, and ownership of Geologistics.

Abu Dhabi Securities Market (ADSM)

ADSM went the opposite way to DFM at the beginning of trading with a quick rise. It then levelled off for the rest of the session to close at 3042 with 1516 trades and decent volume of 110m dhs worth - a third of that coming from trading in DANA and ADIB (Abu Dhabi Islamic Bank). 21 stocks were up, 12 were down and 3 unchanged.

Biggest increase from FCI (Fujairah Cement Industries), up 9.9% to 4.34 - a single trade. ADNH up 4.7% (only 5 trades) and FOODCO up 4.5% (a single trade). BILDCO, BOS, ETISALAT, and RAKWCT all up 2-3%. The others rising 0-2%. Worst falls from CBI - down 10% to 3.35 (only 2 trades), and NMDC down 9.4% to 4.51 from one trade. DRIVE fell 2.9%, ADSB down 2% and the others falling less than 2%.

ADIB rose only 0.8% to 57.40 but 23m dhs worth of trading made it the highest by volume today. DANA not far behind with 20m dhs worth and a small rise of 0.6% (only 1 fil) to 1.64.

A busy day for BILDCO with higher than normal volumes. Share price peaked at 4.23 during they day before falling back to 4.08 by the close of trading and 5.2m dhs worth being traded. Perhaps a few more buybacks going on for BILDCO? FGB also unusually popular with 7.4m dhs worth of trading but a fall of 0.4% to 12.05. FGB was another company that were talking about buying back their shares.

Discuss and view previous reports at Dubai Share Talk discussion for December 2006.

Thursday, December 07, 2006

UAE stocks Thu 07 Dec 2006

Both ADSM and DFM were looking good today with a 1.4% rise in the ADSM index on much higher volumes than usual, and a 2.1% rise in the DFM index to 4239 points. The TASI (Saudi's Tadawul index) was closed today as usual, but yesterday ended up down 1.2% to 7906 points.

Dubai Financial Market (DFM)

Total volume traded on DFM was 1.24 bn dhs from 7495 trades. Increasing volumes on a rising market is a positive indication but may well reflect investors preparing for the DFM IPO funds being returned next week - we may see a drop again then.

Biggest rises from ARIG (7.4% from only 2 trades) and a big jump of 12.9% from GGICO to 9.48 - only 5 trades though. Contrast that with 1640 deals in EMAAR shares which rose a healthy 3.8% to 12.45 and 521m dhs worth of trading. TAMWEEL has the second highest volume of 190m dhs worth of trading with a 1.1% rise to 4.51, no doubt TAMWEEL's proposed 20% dividend getting the punters enthused. DIB did well with a 3.4% increase to 8.30 - perhaps investors decided that DIB receiving the UAE Bank of the Year award was worth something after all. UPP also had a good 2.3% rise to 3.05. Most other stocks rose 0-1%.

Only two companies saw a fall in their share price on DFM today. WARE (Public Warehousing PWC) with a 9.5% plunge to 20.00 on only 5 trades but all of them for almost 1 million shares each and all going through at about 12:40 pm. Which made them the third highest traded share by value today - and usually they're near the bottom of the list. Maybe something to do with WARE buying back their shares? The other loser was AMAN which also had a relatively busy day for them with 74 trades and a drop of 1.7% to 22.70.

Abu Dhabi Securities Market (ADSM)

ADSM start of trading was delayed an hour due to a systems upgrade - session was from 1100-1400 instead of the usual 1000-1300. Despite this inconvenience, volume of trading on ADSM was up to a whopping 236m dhs worth - almost half of that from trading in ADIB shares. Nothing obvious to explain why although there was news today that HSBC Amanah would be the lead arranger in the AED 18 billion Trust Certificate Issuance Program initiated by Abu Dhabi Islamic Bank. Share price was up by 1.4% to 56.95 dhs. DANA Gas was the other heavily traded share, up by 3.2% to 1.63 and 32m dhs worth.

Biggest rises from CBI (9.4%), FH (9.3%) and NMDC (6.6%) with 1, 13 and trades respectively. Other significant movements up from AABAR up 2.7% to 2.31, BILDCO up 4.8% to 3.97 - high volume of 6.6m dhs worth but no news seen, and GCEM up 3% to 4.15 with only 14 trades but over a million shares traded. Other rises of 0-2%.

Only 7 shares fell with the worst drops of 4.2% from UCC and 3% from AKIC. Other falls from INVESTB (1.9%), SOROUH (1.9%), AGTHIA (1.5%), FCI (1.3%), ALDAR (0.2%).

Wednesday, December 06, 2006

UAE markets Wed 06 Dec 06

Another good day at DFM today with a 1.8% increase and a significant improvement in volumes to just over a billion dhs worth of trading. ADSM was also up 1.4% while the Tadawul index (TASI) in Saudi went the opposite way - down 1.2% so far today to 7900 points and 10 billion riyals of trading (still an hour or so of trading left).

Dubai Financial Market (DFM)

DFM index opened at 4076 and climbed quickly to 4138 before pulling back a little. It then climbed further to 4159 by mid session and wobbled around there for the rest of the day before a final small dip and a rise back to 4152 points. Only one share, or bond rather, fell - that was the Emirates Airlines EK-2013 which had a single trade of 1000 units at 99.65 dhs, down 0.4% from the last trade - which was probably several months ago. Oddly though, the DFM marketwatch screen shows the total value of the trade as 99 million dhs rather than 99 thousand. That might have been a nasty surprise for the purchaser (and a pleasant one for the seller).

It's a happy day when everything is going up (I wouldn't say we're out of the woods yet, we've seen a mini-recovery more than once in the past couple of months). A solid 4.7% rise from TAMWEEL to 4.46 and 240m dhs worth of trading - not far behind EMAAR with 322m dhs worth of trades and a 3% rise to 12.00. No obvious specific news to explain the TAMWEEL rise - maybe just punters getting excited about all the talk of the real estate sector in Dubai continuing to grow. That may yet prove to be a false hope...

AMLAK was also up by 2.5% to 5.38, SHUAA a pleasing 2.9% to 4.94 and the rest of the traded shares up by 0-2%. EBI perhaps deserves a mention with their 4.1% pop but there were only three trades went through.

Abu Dhabi Securities Market (ADSM)

ADSM saw only six stocks dropping with the worst ones DRIVE (8.1%) and FCI (7%). TAQA fell 2.3% and still no news about what sparked the big jump yesterday. Volumes for TAQA were down to 2.4m dhs worth - less than a tenth of what was traded yesterday. ADCB, NCTH, and RAKBANK were also down 0-2%. ADCB a bit of a worry. Although the drop was only 1.5%, the volume of trading at 9.3m dhs worth was much higher than normal. Yesterday there was news of a purchase of some payment processing software by ADCB. I'd be surprised if this drop in price was a reaction to that.

TKFL was the winner today with a 7% increase. BOS up 5.3%, NBAD up 4.4% and JULPHAR up 4%. Few trades amongst this lot though - about 25 deals all together. All the more liquid stocks (except for TAQA) were up only 0-2% with RAKPROP and ETISALAT the best of them with a rise of just over 2%.

DANA and ADIB were back at the top of the list by volume traded with 17m and 16m dhs worth respectively, ADIB up 3.6% to 56.15 and DANA up 1.3% to 1.58.

Discuss and view previous reports at Dubai Share Talk discussion for December 2006.

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