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

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.

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