Dubai and Abu Dhabi Market news & discussions today
- QTEL board meeting 17 Dec 2006, results posted ADSM 24 Dec 2006
- ALDAR EGM - 40% foreign ownership and AED 12.8 bn sukuk - 12 Dec 2006
- ETISALAT offers 3 & 4MB broadband for SMEs - GN 25 Dec 2006
- SAGIA investment from Germany up to AED 1.1 trillion - KT 25 Dec 2006
- IFA Hotels & Resorts buys Portugal property for AED 128m - KT 25 Dec 2006
- EBI - Emirates Bank only local bank sponsor at Global Village KT 25 Dec 2006
- DU and ETISALAT network and tariff agreements - Jun... 2006
- Oil price impact on GCC investment - Std Chartered report - KT 25 Dec 2006
- NMTC.KW Wataniya Telecom Kuwait - Shuaa report 24 Dec 2006
- Pakistan firms listing on ADSM and DFM - GN 18 Sep 2006
- ETISALAT could buy part of Wataniya Telecom says Shuaa - KT 25 Dec 2006
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.