DFM & ADSM reports

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

Monday, December 31, 2007

UAE markets 31 Dec 2007

UAE market news & discussions for 31 December 2007

A subdued days trading on both UAE markets to close 2007. The DFM index closed down 1.15% at 5, 931 on trading volume of 1.6 billion dirhams. The ADSM index closed down 0.64% at 4,551 on trading volume of 960 million dirhams.

DEYAAR was the top traded share on the DFM falling 0.68% to 2.92 dirhams on volume of 72 million shares.
DANA was the top taded share on the ADSM faling 0.91% to 2.18 dirhams on volume of 25 million shares.

For the year the ADSM index finished up 52% and DFM index up 45% placing them 3rd and 6th among the emerging markets. China topped the list rising 96% for 2007.

In the first predicition for 2008 The National Bank of Kuwait said the the UAE economy will double within the next five years. This suggests annual GDP growth rate of 14%.

Finally, Sharewadi predicts in 2008 all UAE investors will have a happy and prosperous year.

Dubai Financial Market and Abu Dhabi Securities Market index for 31 December 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
WARE 19.55 +2.55 +15%
GLOBAL 14.75 +1.60 +12.2%
AAAIC 146.00 +12.00 +9%
NMDC 8.20 +0.66 +8.8%
JULPHAR 2.37 +0.18 +8.2%
worst stock falls
symbol price change
GRAND 4.72 -0.83 -15%
UAB 6.67 -0.73 -9.9%
RAKCEC 4.83 -0.22 -4.4%
DRIVE 5.65 -0.24 -4.1%
ADAVIATION 3.37 -0.12 -3.4%
top volume
symbol value (AED) price
EMAAR509,708,04114.90
DEYAAR213,621,2002.92
SOROUH177,552,6058.71
DU173,944,0487.41
AMLAK138,945,7025.13

Dubai Financial Market

The DFM index closed at 5,931 a fall of 1.15%. 302 million shares traded worth 1.6 billion dirhams. Nine shares advanced and fourteen declined.
The top traded share was DEYAAR falling 0.68% to 2.92 dirhams on volume of 72 million.

Other shares to fall included: AIRARABIA 1.97 (1.00%), Amlak Finance (AMLAK) 5.13 (1.15%), Emaar Properties (EMAAR) 14.90 (2.61%) and Du Telecom (DU) 7.41 (2.50%).

Shares to rise included: MAZAYA 10.25 (7.89%), Dubai Islamic Bank (DIB) 11.00 (1.38%), Global Investment House (GLOBAL) 14.75 (12.16%), Islamic Arab Insurance (IAIC) 3.79 (0.53%), Tabreed (TABREED) 3.41 (1.79%), Tamweel (TAMWEEL) 6.85 (0.43%).

Abu Dhabi Securities Market

the ADSM index closed at 4,551 a fall of 0.64%. 198 million shares traded worth 960 million dirhams. Twenty four shares advanced and twenty two declined.
The top traded share was Dana Gas (DANA) falling 0.91% to 2.18 dirhams on volume of 25 million.

Other shares to fall included: ARKAN 3.80 (2.06%), Oasis Leasing (OILC) 2.18 (0.91%), RAK Properties (RAKPROP) 2.46 (0.40%) and Abu Dhabi National Energy (TAQA) 3.55 (3.27%).

Shares to rise included: Aldar Properties (ALDAR) 12.10 (0.83%), Commercial Bank International (CBI) 3.14 (1.62%), Sorouh Real Estate (SOROUH) 8.71 (1.28%) and Julphar (JULPHAR) 2.37 (8.22%).

Posted by sharewadi at 18:02

Sunday, December 30, 2007

UAE markets 30 Dec 2007

UAE market news & discussions for 30 December 2007

An uneventful day on the DFM today with the index going nowhere on modest turnover. Emaar and Union Properties had small rises while Du Telecom had a sharp fall. ADSM was also relatively slow, falling slightly but some excitement for Sharjah Cement and Ras Al Khaimah's Commercial Bank showing reasonable gains on relatively high trading volumes, while RAK Properties had a decent gain and topped the traded value list. DRIVE fell 7% today on low volumes, after soaring almost 50% last week. They announced a board meeting for 02 January 2008.

Dubai announced that the rent cap would be reduced to 5% for 2008, and no increase for anyone who had a rent increase in 2007. Good news for tenants on the face of it but how much this will exacerbate the supply shortage, and drive up rents, remains to be seen. There was also a report on Emirates Business that Abu Dhabi was considering a rent cap reduction to as low as 3%.

Osama Bin Laden, an unexpected economist, contributed to the stability of the GCC dollar pegs by saying they were "unjust and arbitrary".

Net foreign investment on the DFM was up to AED 1.5 billion last week, and net institutional investment up to almost AED 2 billion.

Dubai Financial Market confirmed that they would be closed on 01 January 2008. Presumably the same applies to the ADSM. Trading hours on both exchanges will be increased to 4 hours per day, from 10am to 2pm as of 02 January 2008.

Aldar Properties released another convertible share statement, correcting the number of shares issued to 6.7 million, down from 16 million on Thursday which was down from 30 million earlier last week. Perhaps by the end of the this week they'll be cancelling shares.

Amlak Finance signed an MoU with Qatar's Barwa Real Estate to provide housing finance in Qatar. Amlak shares rose just 0.2% today.

Dubai Financial Market and Abu Dhabi Securities Market index for 30 December 2007

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best stock rises
symbol price change
AWNIC 7.48 +0.68 +10%
NCTH 9.07 +0.63 +7.5%
OEIHC 34.35 +2.30 +7.2%
NMDC 7.54 +0.44 +6.2%
ADAVIATION 3.49 +0.19 +5.8%
worst stock falls
symbol price change
DRIVE 5.89 -0.44 -7%
ARIG 3.38 -0.17 -4.8%
ASMAK 6.11 -0.28 -4.4%
BOS 3.14 -0.14 -4.3%
DU 7.60 -0.29 -3.7%
top volume
symbol value (AED) price
EMAAR668,346,80815.30
DU458,443,2437.60
AMLAK316,094,7075.19
RAKPROP247,854,6232.47
AIRARABIA237,141,3861.99

Dubai Financial Market

The DFM index ended at 6001 points today, barely moving in the end with a 0.04% fall and turnover down to half the daily levels last week, at AED 2.4 billion. It did reach an intra-day high of 6060 points however. Emaar Properties (EMAAR) rose a modest 0.66% to 15.30 and topped the traded value table with AED 670 million.

Union Properties (UPP), up 1.8% to 5.20 and Emirates NBD (ENBD) up 1% to 15.00 were the only stocks rising 1% or more with turnover exceeding AED 1 million.

Du Telecom (DU) had a sharp 3.7% drop to 7.60, Tamweel (TAMWEEL) fell 2.4% to 62, Tabreed (TABREED) lost 2.05% to close at 3.35 and the remaining losers fell by less than 2% except for Arab Insurance Group (ARIG) and GSH which traded very low volumes.

Abu Dhabi Securities Market

The ADSMI fell just 0.5% to 4581 with turnover a relatively modest AED 1 billion compared to some of the bigger days earlier this month. RAK Properties (RAKPROP) was the standout stock topping the turnover table with AED 250 million and a 3.35% rise to 2.48.

The top 3 gainers - AWNIC, NCTH, OEIHC - rose on very thin trading. More noteworthy rises for National Marine Dredging (NMDC) up 6.2% to 7.55, Commercial Bank International (CBI) up 4.0% to 3.11, RAK Ceramics (RAKCEC) up 3.9% to 4.81, Sharjah Cement (SCIDC) up 2.5%, RAK Bank (RAKBANK) up 2.4% to 8.50 and Abu Dhabi ShipBuilding (ADSB) up 2% to 5.00, but all of them on turnover of less than AED 15 million.

The top 4 losers fell on turnover of less than AED 1 million each. Other losers were ADNH down 3% to 9.02, Abu Dhabi National Energy (TAQA) down 2.9% to 3.60, Julphar (JULPHAR) down 2.7% to 2.25, and Aabar Petroleum (AABAR) down 2.1% to 3.75. Etisalat (ETISALAT) fell just 0.85% to 23.40.

Posted by sharewadi at 15:04

Thursday, December 27, 2007

UAE markets 27 Dec 2007

UAE market news & discussions for 27 December 2007

Solid trading volumes once again on the DFM but the index fell to just above 6000 points, with DFM's own shares taking a hard knock, while DU stood out with a big jump today. Abu Dhabi also had a modest fall on reduced trading levels, although DRIVE continued its astonishing performance with yet another limit up day today, and increased turnover. We've yet to see an explanation, or even the question being asked by ADSM, for the sharp rise.

DPW on the DIFX had another wobble today, falling 2.6% to $1.14 on modest turnover. No other stocks were traded.

Aldar Properties issued a correction to an earlier statement on share conversion this week. The increase should only have been 16 million, not 30 million shares due to foreign ownership now at the 40% maximum of total capital.

There was a report that a UAE based bank was buying a 60% stake in Commercial Bank of Kuwait, but the bank was not identified.

The UAE Central Bank Governor said that UAE bank profits would rise 25%, and also indicated regulations would be reviewed to allow more banks to operate in the UAE. Didn't someone say the UAE was over-banked?

Benazir Bhutto was assassinated after an election rally this afternoon. World stock markets appear to be somewhat rattled.

Dubai Financial Market and Abu Dhabi Securities Market index for 27 December 2007

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best stock rises
symbol price change
MAZAYA 9.25 +0.75 +8.8%
DRIVE 6.33 +0.49 +8.4%
DU 7.89 +0.55 +7.5%
ARIG 3.55 +0.21 +6.3%
NMDC 7.10 +0.36 +5.3%
worst stock falls
symbol price change
ACICO 6.35 -1.12 -15%
RAPCO 3.56 -0.34 -8.7%
QTEL 221.10 -19.00 -7.9%
JULPHAR 2.25 -0.19 -7.8%
TKFL 5.62 -0.38 -6.3%
top volume
symbol value (AED) price
EMAAR1,079,422,52715.20
AIRARABIA872,235,0202.00
DU705,187,7547.89
AMLAK560,156,7215.18
DEYAAR475,411,9882.94

Dubai Financial Market

The DFMGI had a 0.4% fall to close just above 6000 points - at 6003, with turnover still robust at AED 4.8 billion. Du Telecom (DU) soared 7.5% to 7.89 with turnover at AED 705m not quite the highest amount. That position was for Emaar Properties (EMAAR) with just over AED 1 billion worth of trading and a small 0.66% rise to 15.20. AIRARABIA saw the second highest turnover with 870m dhs worth and a 0.5% rise to 2.00. Only 2 other rises on more than AED 1m turnover, 3% for Commercial Bank of Dubai (CBD) and 1% for Emirates NBD (ENBD).

DFM shares saw the biggest fall from the actively traded list, down by 4.7% to 6.33 and robust turnover of AED 424m dhs. Shuaa Capital (SHUAA) fell 4.3% to 6.39 on light volumes, and Tabreed (TABREED) dropped 4.2% to 3.42. Amlak Finance (AMLAK) fell 3.5%, Union Properties (UPP) 3.2%, and AMAN 3.05%. Tamweel (TAMWEEL), Islamic Arab Insurance (IAIC), and Dubai Investments (DIC) lost 2-3% and another 7 stocks fell by less than 2%. The worst 3 losers fell on just 1 trade each.

Abu Dhabi Securities Market

The ADSM index had a slightly bigger fall than in Dubai, down by 0.7% to 4604 points but turnover fell to just over AED 1 billion. Very few gainers traded in any significant quantities. DRIVE saw relatively high turnover and an 8.4% rise to 6.00, topping the gainers table. ADAVIATION was up 3.1% to 3.52, UNION rose 1.7%, SCIDI 1.1%, Union Cement (UCC) up 0.5%, and Etisalat (ETISALAT) just 0.4% to 23.35.Another 6 stocks rose on less than AED 1m turnover.

Aldar Properties (ALDAR) and Oasis Leasing (OILC) were the most heavily traded shares, losing 3.6% to 12.25 and 1.8% to 2.72 respectively. RAK White Cement (RAKWCT) plummeted 7.2% to 2.18 but on lower turnover than yesterday. Finance House (FH) lost 3.7% to close at 10.80, RAK Properties (RAKPROP) was down 3.6% to 2.39, AGTHIA 3.3% to 2.06, RAK Cement (RAKCC) 3.15% to 2.11, and Dana Gas (DANA) 3.1% to 2.15. Another 20 stocks fell between 0-3%.

Posted by sharewadi at 19:04

Wednesday, December 26, 2007

UAE markets 26 Dec 2007

UAE market news & discussions for 26 December 2007

The DFMGI was up again today by a modest amount but trading levels were high at close to AED 5 billion dhs worth. ADSM barely moved and turnover was less than half the amount seen in Dubai.

Amlak shares soared 5% and topped the traded value table today with over a billion dhs worth of deals on the news that Amlak's 2007 profits would increase 120% to AED 285 million, with 4th quarter profits over 7 times the same period in 2006.

RAK White Cement stood out in Abu Dhabi with a 6.3% increase with trading volumes the highest seen since July this year. RAK Properties also had a good day, belting ahead on the second highest turnover for the day.

Both ADSM and DFM announced the extended trading hours would apply from 02 January 2008, implying that 01 January 2008 would be a holiday, but not confirming it.

Reform of UAE IPO rules is on the cards at last, with ESCA saying they could decide how future IPOs would be priced, meaning that shares could be sold at a premium to par value after a book building process.

Emaar received approval to buyback 10% of their shares ... again. They didn't buy back any earlier this year when their shares were cheaper though. Emaar shares rose 2% today.

After yesterday's news that Etisalat might bid for a telecom licence in Lebanon, Qatar Telecom joined in and said they would also, while mobile penetration was forecast to grow by a reduced 10% in 2008 in the UAE.

Dubai Financial Market and Abu Dhabi Securities Market index for 26 December 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
DRIVE 5.84 +0.48 +9%
NMDC 6.74 +0.47 +7.5%
NBF 5.48 +0.38 +7.5%
IFA 11.75 +0.75 +6.8%
RAKWCT 2.35 +0.14 +6.3%
worst stock falls
symbol price change
FCI 4.49 -0.43 -8.7%
OEIHC 32.25 -2.75 -7.9%
ARIG 3.34 -0.21 -5.9%
DFM 6.64 -0.26 -3.8%
ALDAR 12.65 -0.40 -3.1%
top volume
symbol value (AED) price
AMLAK1,052,690,0295.37
EMAAR936,349,89615.10
DEYAAR677,617,6382.96
DU398,955,7167.34
AIRARABIA360,427,8331.99

Dubai Financial Market

The DFMGI followed yesterday's big boost with a modest 0.6% gain to break through the 6000 level from a still very active AED 4.8 billion of turnover with just over a billion shares traded. The index closed at 6028 points.

As mentioned, Amlak Finance (AMLAK) was in the spotlight with AED 1.05 billion of turnover and a 4.9% increase to 5.37 dhs. Emaar Properties (EMAAR) was in second spot on the traded value chart with AED 936 million of turnover and a 2% rise to close above 15 dhs.

Other solid gains for Tabreed (TABREED) up 3.8%, Du Telecom (DU) up 3.7%, and AIRARABIA up 2.05%. Emirates NBD (ENBD) rose 1.7% and another 4 stocks rose less than 1%. Four more stocks rose more than 1% but on turnover of less than AED 1 million.

Abu Dhabi Securities Market

The ADSM index crept up a marginal 0.08%, or just 4 points, to close at 4636 with turnover a steady AED 2 billion worth. RAK White Cement (RAKWCT), as mentioned, had a splendid day with a 6.3% rise to 2.28 from AED 42m of traded value. DRIVE yet again saw limit up trading with just AED 1.5m of turnover and a 5.89 dh closing price.

Other gains from significant trading activity for ADAVIATION up 6% to 3.14, RAK Properties up 3.3% to 2.42, Abu Dhabi National Energy (TAQA) up 2.2%, Sudan Telecom (SUDATEL) up 2.1%, and another 11 stocks rising less than 2%. Five other stocks rose more 2% on less than AED 1m of turnover. Etisalat (ETISALAT) rose 0.9% to close at 23.70.

There were a total of 19 losers today, including a number of actively traded shares. Aldar Properties (ALDAR) was the worst of them, dropping by 3.1% to 12.50, ARKAN was not far behind with a 2.7% fall to 3.82. Sorouh Real Estate (SOROUH) fell 1.5%, Bank Of Sharjah (BOS) 1.2% and another 8 stocks fell less than 1% on significant activity.

Posted by sharewadi at 20:38

Tuesday, December 25, 2007

UAE markets 25 Dec 2007

UAE market news & discussions for 25 December 2007

The DFM advanced a generous 2.2% on abundant turnover with Du Telecom soaring almost 10% on heavy trading. The ADSM was also in the green with a smaller overall rise, although RAK Properties and Dana Gas stood out with big gains from considerable activity. Merry Christmas punters :).

Mithaq Insurance, who announced an IPO last week, said they'd received approval from the Abu Dhabi Executive Council. The IPO is scheduled for January 2008. They allegedly received approval from ESCA last week but there's nothing obvious on ESCA's website to confirm that. Ironically, ESCA do have a document with corporate governance and transparency rules on their home page.

Etisalat sounded like they were in a sulk over losing the bid for Qatar's mobile phone licence when they said they would not bid for Qatar's second landline licence. But they are considering a bid for a mobile licence in Lebanon. On a positive note for customers though, they said all calls would be at off-peak rates today for the festive season.

Dubai Financial Market and Abu Dhabi Securities Market index for 25 December 2007

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best stock rises
symbol price change
FBICO 3.99 +0.36 +9.9%
DRIVE 5.36 +0.48 +9.8%
DU 7.08 +0.60 +9.3%
ADSB 4.97 +0.32 +6.9%
RAKPROP 2.40 +0.13 +5.7%
worst stock falls
symbol price change
QCEM 3.05 -0.19 -5.9%
ADNH 9.41 -0.54 -5.4%
AEIBANK 1157.20 -61.00 -5%
UNION 2.95 -0.12 -3.9%
ASMAK 6.29 -0.25 -3.8%
top volume
symbol value (AED) price
EMAAR1,089,126,24514.80
DU792,729,8447.08
AMLAK663,079,1785.12
RAKPROP619,377,1722.40
DFM527,290,6926.90

Dubai Financial Market

The DFMGI saw a substantial 2.2% gain to close just shy of 6000 points, at 5992. Turnover was booming with almost AED 5 billion worth of deals going over the counters.

Du Telecom (DU) rocked ahead an outstanding 9.3% from almost 800m dhs of turnover, closing at 7.08. Emaar Properties (EMAAR) cracked through a billion dhs worth of trades to top the traded value list, and rose 3.1% to 14.80. Amlak Finance (AMLAK) also stood out with a 4.5% rise to 5.12 and 663 million dhs turnover.

Other actively traded stocks up today were AMAN 3.8%, Emirates NBD (ENBD) 3.6%, Shuaa Capital (SHUAA) and Union Properties (UPP) 2.3%, ALMADINA 2%, and another 14 stocks up between 0-2%.

Only 2 stocks fell today, AEIBANK and NCC, on insignificant trading volumes.

Abu Dhabi Securities Market

The Abu Dhabi index rose 0.7%, not quite as outstanding as the DFMGI gain, but there was considerable activity and decent gains in the property sector. Total turnover was AED 2.4 billion and the index closed at 4632.

RAK Properties (RAKPROP) was the stock of the day with a 5.7% increase to 2.49 from top turnover of 619m dhs. Dana Gas (DANA) not far behind with a 5.1% increase to 2.31 and AED 342m of traded value. DRIVE deserves a mention for repeating yesterday's limit up trading, although turnover was limited to just AED 3.5 million. Their shares are up a mighty 76% this month.

Other worthy rises for AGTHIA up 4.8%, Aldar Properties (ALDAR) up 3.6%, RAK White Cement (RAKWCT) up 3.3%, ADAVIATION up 3.1%. Another 5 stocks rose 2-3%, and another 17 stocks rose 0-2%.

Ten stocks fell today, Finance House (FH) was the only one to fall more than 1% and see turnover greater than AED 1 million. It closed 2.25% down at 10.30. Etisalat (ETISALAT) fell 0.4% to 23.40.

QCEM had the biggest fall, of 5.9%, and the smallest traded value, 1 trade of 100 shares worth 305 dhs.

Posted by sharewadi at 18:46

Monday, December 24, 2007

UAE markets 24 Dec 2007

UAE market news & discussions for 24 December 2007

Both the ADSM and DFM rose about half a percent today with solid levels of turnover. Al Dar properties continued its strong climb and topped the traded value charts in Abu Dhabi while Union Properties stood out in Dubai with a big rise on heavy trading. Emaar also had a decent pick up.

On the DIFX, DPW was the only stock traded, rising 1.7% to $1.18 on thin trading.

Abu Dhabi Commercial Bank confirmed yesterday they were in talks to buy a 25% stake in Malaysia's RHB Capital. ADCB shares fell 1.3% on increased volumes today.

Another 30 million Aldar shares were added to the total outstanding, bringing it to 2.147 billion, an increase of 1.4% from the convertible sukuk. Aldar shares continued to soar, up another 4.6% today, and 32.5% for the month, completely confounding our understanding of the words "share dilution".

Planet Pharmacies bought Julphar's distribution network for AED 150 million, half of which was Julphar's money anyway, since Planet Pharmacies is a joint venture set up by Global Investments and Julphar, announced last week.

Oasis Leasing announced they had signed an agreement to buy a 42.5% stake in Bahrain's Addax Bank, following the October 2007 signing of an MoU for the purchase. OILC shares fell 0.8% on thin trading today.

Moody's gave a stable rating for UAE banks but said that increased competition is likely to mean tighter margins going forward.

The Dubai Chamber of Commerce & Industry has reassured all UAE residents that inflation should be down to just 3.4% 0... by 2012. A Reuters poll indicates UAE inflation will be just over 10% for 2007. In the meantime, the DCCI says GDP growth will average 7% from 2008 to 2012.

Emirates Business reported that the Ajman Airport project announcement has prompted a 30% increase in property prices. Since last week's announcement, not the original one in 2003.

The Khaleej Times reported that Bahrain's parliament was considering a novel approach to stemming hefty increases in property prices in the state - banning foreign ownership of property.

Dubai Financial Market and Abu Dhabi Securities Market index for 24 December 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
FBICO 3.63 +0.33 +10%
DRIVE 4.88 +0.44 +9.9%
RAPCO 3.90 +0.35 +9.9%
RAKNIC 5.70 +0.42 +8%
ADNH 9.95 +0.62 +6.6%
worst stock falls
symbol price change
ADSB 4.65 -0.30 -6.1%
OEIHC 33.30 -2.10 -5.9%
FOODCO 4.05 -0.21 -4.9%
UCC 4.03 -0.18 -4.3%
ASMAK 6.54 -0.16 -2.4%
top volume
symbol value (AED) price
EMAAR874,203,13014.35
ALDAR510,402,44312.60
UPP484,960,0075.24
DFM407,417,4296.84
SOROUH380,631,6898.64

Dubai Financial Market

The DFMGI rose sharply as soon as trading started, almost hitting 5900 points, but then fell back down during the day with a late rise again to close at 5862 points, a 0.55% increase and turnover a decent AED 2.9 billion.

Emaar Properties (EMAAR) was the highest traded stock by value with AED 870m worth of deals and a 2.5% increase to 14.35. Union Properties stood out with AED 485m turnover and a 5.4% rise to 5.24. Du Telecom (DU) rose 3.2% to close at 6.48 and the other 5 stocks rising didn't see more than a 1% increase.

ALMADINA had the worst fall of 2% to finish at 9.80 dhs, GULFNAV fell 1.2%, Emirates NBD (ENBD) fell 1.1%, and another 7 stocks fell less than 1%.

Abu Dhabi Securities Market

The ADSMI rose 0.43% to close a fraction of a point below 4600 pints from a healthy AED 1.73 billion of turnover. The two property stocks, Aldar up 4.6% and Sorouh up 0.8%, dominated trading and made up about half of that value.

Big rises on over AED 1m of traded value for DRIVE increasing 9.9% to 4.88, and ADNH increasing 6.65% to 9.58. Another six stocks rose more than 5%, all on few trades.

FH had a relatively busy day with a 4.2% increase to 11.40, NBS also actively traded and up by 2.5%. Bank Of Sharjah (BOS) rose 1.2% and First Gulf Bank (FGB) 1.1%. Etisalat (ETISALAT) rose just 0.2% to close at 23.40.

Aabar Petroleum (AABAR) was the worst of the losers on active trading, falling by 1.75% to 3.92. Sudan Telecom (SUDATEL) was down 1.6%, ARKAN 1.5%, RAK White Cement (RAKWCT) 1.4%, Abu Dhabi Commercial Bank (ADCB) 1.3%, and the remaining falls on thin trading or less than 1%.

Posted by sharewadi at 18:07

Sunday, December 23, 2007

UAE markets 23 Dec 2007

UAE market news & discussions for 23 December 2007

A strong post EID break day on UAE markets today. The DFM index was up 1.61% to 5,829 and the ADSM index was up 1.31% to 4,580.

DEYAAR was the top traded share on the DFM rising 0.68% to 2.96 dirhams on volume of 72 million shares.
RAKPROP was the top traded share on the ADSM rising 2.74% to 2.25 dirhams on volume of 103 million shares.

In other news a report in the Times Online suggested Abu Dhabi was to launch a Pan Arabian newspaper creating the print equivalent of Al Jazeera in March 2008.
UAE dirham revaluation 60% likely by July 2008 according to EFG Hermes.

Dubai Financial Market and Abu Dhabi Securities Market index for 23 December 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
DHAFRA 6.60 +0.60 +10%
FH 10.65 +0.95 +9.8%
GFH 11.75 +0.95 +8.8%
DRIVE 4.44 +0.29 +7%
ADSB 0.00 +0.30 +-100%
worst stock falls
symbol price change
TKFL 5.65 -0.35 -5.8%
DNIR 4.18 -0.21 -4.8%
ASCANA 2.20 -0.10 -4.3%
OEIHC 35.40 -1.25 -3.4%
RAKCEC 4.72 -0.08 -1.7%
top volume
symbol value (AED) price
SOROUH631,400,1658.57
EMAAR594,915,57214.00
DFM493,963,3166.85
ALDAR431,511,57112.05
DU287,073,9506.28

Dubai Financial Market

the DFM index closed at 5,829 today a rise of 1.61% from the previous close. 444 million shares were traded worth 2.4 billion dirhams. Nineteen stocks advanced and six declined.
The top traded stocks were DEYAAR rising 0.68% to 2.96 dirhams on volume of 72 million shares and DFM rising 3.47% to 6.85 dirhams on volume of 72 million shares also.

Other shares to rise included: Amlak Finance (AMLAK) 4.90 (1.65%), AIRARABIA 1.95 (1.03%), Du Telecom (DU) 6.28 (3.97%), Emaar Properties (EMAAR) 14.00 (2.56%), GULFNAV 1.70 (1.79%) and Tabreed (TABREED) 3.40 (3.97%).

The only share to fall on volume was Tamweel (TAMWEEL) down 0.13% to 7.22 dirhams with 22 million shares trading.

Abu Dhabi Securities Market

The ADSM index closed at 4,580 today a rise of 1.31% from the previous close. 351 million shares were traded worth 1.9 billion dirhams. Twenty nine stocks advanced and eight declined.
The top traded share was RAK Properties (RAKPROP) rising 2.74% to 2.25 dirhams on volume of 103 million shares. NBS rose 5.25% to 4.01 dirhams on volume of 85 million shares.

Other shares to rise included: Aldar Properties (ALDAR) 12.05 (4.33%), ARKAN 4.13 (3.77%), Dana Gas (DANA) 2.17 (1.40%), Oasis Leasing (OILC) 2.66 (0.38%) and Etisalat (ETISALAT) 23.40 (1.96%).

Shares to fall included: Gulf Cement (GCEM) 6.17 (0.32%), National Bank of Abu Dhabi (NBAD) 22.90 (0.65%) and Union National Bank (UNB) 9.19 (1.50%).

Posted by sharewadi at 19:04

Monday, December 17, 2007

UAE markets 17 Dec 2007

UAE market news & discussions for 17 December 2007

A relatively subdued pre EID holidays trading on UAE markets. Both the DFM and ADSM index finished down by less than half a percent.

On the DFM, TAMWEEL topped trading falling by 3.47% to 7.23 dirhams on volume of 101 million shares.
EMAAR finished up 0.36% at 13.65 dirhams on volume of 45 million shares.

On the ADSM, OILC topped trading rising by 1.92% to 2.65 dirhams on volume of 74 million shares.
TAQA finished 4.21% higher at 3.71 on volume of 30 million shares.

In Business news:
Gulf Finance House signed a deal to create a state of the art Economic Development Zone outside of Mumbai.
No new speculation regarding AED/$US is this significant?

Dubai Financial Market and Abu Dhabi Securities Market index for 17 December 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
FBICO 3.30 +0.30 +10%
FH 9.70 +0.88 +10%
OEIHC 36.65 +3.45 +10.4%
RAKNIC 5.28 +0.47 +9.8%
QCEM 3.28 +0.28 +9.3%
worst stock falls
symbol price change
ADNIC 8.05 -0.85 -9.6%
RAKCEC 4.80 -0.45 -8.6%
GRAND 5.59 -0.49 -8.1%
DIN 30.00 -1.50 -4.8%
RAPCO 3.55 -0.13 -3.5%
top volume
symbol value (AED) price
TAMWEEL759,368,6387.23
EMAAR609,556,14613.65
ALDAR349,360,91411.55
DEYAAR210,615,1862.94
SOROUH203,082,7628.44

Dubai Financial Market

The DFM index closed at 5,737 a fall of 0.13% from the previous close. 372 million shares traded worth 2.2 billion dirhams. Nine shares advanced and fourteen declined.
Tamweel was the top traded share falling 3.47% to 7.23 dirhams on turnover of 101 million shares.

Other shares to decline included: DEYAAR 2.94 (0.33%), Du Telecom (DU) 6.04 (0.49%), DFM 6.62 (0.74%) and Islamic Arab Insurance (IAIC) 3.75 (0.26%)

Shares to rise included: Amlak Finance (AMLAK) 4.82 (0.41%), ARABTEC 9.27 (0.45%), Emaar Properties (EMAAR) 13.65 (0.36%) and Union Properties (UPP) 4.94 (1.22%).

AIRARABIA 1.93 and GULFNAV 1.67 both closed unchanged.

Abu Dhabi Securities Market

The ADSM index closed at 4,520 a fall of 0.49% from the previous close. 292 million shares traded worth 1.4 billion dirhams. Twenty four shares advanced and nineteen declined.
The top traded share was Oasis Leasing (OILC) rising 1.92% to 2.65 dirhams on volume of 74 million shares.

Other shares to rise included: Aabar Petroleum (AABAR) 3.99 (2.31%), Abu Dhabi National Energy (TAQA) 3.71 (4.21%) and Union National Bank (UNB) 9.33 (0.65%).

Shares to fall included: Abu Dhabi Commercial Bank (ADCB) 6.68 (1.91%), ARKAN 3.98 (1.97%), Dana Gas (DANA) 2.14 (0.93%), Etisalat (ETISALAT) 22.95 (1.08%) and Sorouh Real Estate (SOROUH) 8.44 (0.47%).

Aldar Properties (ALDAR) 11.55 and RAK Properties (RAKPROP) 2.19 both closed unchanged.

Posted by sharewadi at 16:58

Sunday, December 16, 2007

UAE markets 16 Dec 2007

UAE market news & discussions for 16 December 2007

The ADSM rose slightly and the DFM fell marginally today. Tamweel saw trading volume of over 130m shares today - a record high for them this year. The big jump of 8.2% was prompted by news that its Sukuk was sold out within hours on Thursday, and conversion price of 18% to 23% above the 13 December 2007 close price.

Arkan Building Materials announced a joint venture with a Korean company but said there was no capital increase planned, and they did not have any information to explain why their share price was increasing. Which seems very odd considering the JV news came from Arkan.

Meanwhile, Finance House did their best to explain why their share price might have increased recently, in response to a query from the ADSM. They alluded to possibly a good profit figure for 2007 Q4 due to their stock market investments performing well.

The possible Emirates Post IPO was in the news today. Perhaps the difference from previous reports was that they were definitely planning to have discussions about launching an IPO, as opposed to considering discussions about launching an IPO. The RAK Airways COO was also reported as talking about an IPO but it sounded like the same comments he made when they launched their first flight to Beirut but diverted it to Bangladesh earlier this month.

Julphar and Global Investments announced a 900m dhs joint venture to develop a chain of pharmacies across the MENA region called Planet Pharmacies.

The Amlak Chairman was interviewed by Emirates Business and told them that they were going to re-apply for a bank licence. Their shares fell 1 fil.

Gulf Finance House announced a $10 billion development near Mumbai at the end of last week, and a $3 billion development in Tunisia - Tunis Financial Harbour. Their shares were up more than 6% on Thursday and down by the same amount today.

Eid holidays for DFM and ADSM markets from Tue to Sat. Last trading day this week is tomorrow.

Dubai Financial Market and Abu Dhabi Securities Market index for 16 December 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
ACICO 7.47 +0.97 +14.9%
UIC 5.50 +0.50 +10%
FH 8.82 +0.80 +10%
OEIHC 35.05 +3.10 +9.7%
NBF 4.30 +0.38 +9.7%
worst stock falls
symbol price change
QCEM 3.00 -0.20 -6.3%
GFH 10.80 -0.70 -6.1%
INVESTB 3.41 -0.19 -5.3%
CBI 3.00 -0.09 -2.9%
ADSB 4.60 -0.12 -2.5%
top volume
symbol value (AED) price
TAMWEEL956,364,6537.49
SOROUH513,028,8128.48
ALDAR304,107,86111.55
EMAAR266,720,71313.60
DEYAAR190,999,6652.95

Dubai Financial Market

The DFMGI fell just 0.11% to 5745 points from turnover of AED 2.25 billion. Tamweel (TAMWEEL), as mentioned, shot up by 8.2% to 7.49 from almost AED 1 billion of turnover. ALMADINA was the only other stock to rise more than 1% on turnover greater than AED 1m. It closed at 9.75, up 5.4% for the day. The big rise for ACICO came from just one traded of 1000 shares. Du Telecom (DU), DFM, Islamic Arab Insurance (IAIC), DEYAAR, and Arabtec (ARTC) were the other actively traded gainers today, all rising by 1% or less.

No significant losers today, the biggest fall, for GFH, came from a single trade of just 1000 shares. Aramex (ARMX) was the worst of the actively traded stocks, falling by 1.6% to 3.09. Dubai Investments (DIC) was down 1.3%, Union Properties (UPP) and GULFNAV down 1.2%, and the others falling by less than 1%. Emaar Properties (EMAAR) dropped by 0.4% to close at 13.60.

Abu Dhabi Securities Market

The ADSM index was up half a percent to 4543 from reasonable turnover of 1.5 billion. A third of that was from trading in Sorouh Real Estate (SOROUH) which rose 4.3% to 8.43. Aldar Properties (ALDAR) also had a good day with a 3.6% rise to 11.30.

Five stocks were 10% limit up, or close to it today, but from limited trading. UIC stood out as a rarely traded stock that saw 2.5m dhs worth of turnover, from just 2 trades, rising 10% to 5.50. Finance House (FH) saw just 6 trades worth 1.6 m dhs, and rose 10% to 8.82. DRIVE was another illiquid stock that had increased activity and a 7.1% rise to 4.16.

NBS was again very active and saw its price up 4% to 3.89. Other rises of note were Abu Dhabi National Energy (TAQA) up 2.9%, and RAK Properties (RAKPROP) up 1.9%. National Bank of Abu Dhabi (NBAD), Bank Of Sharjah (BOS), AGTHIA, and Dana Gas (DANA) all rose about 1%.

Of the losers, First Gulf Bank (FGB) stood out with a 2.4% fall to 21.95 from heavy trading. ARKAN dropped 1.2% to 4.03 and Etisalat (ETISALAT) fell 0.85% to 23.00.

Posted by sharewadi at 20:34

Thursday, December 13, 2007

UAE markets 13 Dec 2007

UAE market news & discussions for 13 December 2007

The ADSM rose slightly and the DFM fell slightly, due mostly to a sharp drop in Emirates NBD. Sharjah Islamic Bank and Finance House, on the Abu Dhabi exchange, stood out with significant gains on greater than usual activity.

On the DIFX, DPW continues its slow decline, falling another $0.01 to $1.24 from light turnover. No other stocks have traded so far today. The DIFX closes later this afternoon.

Amlak was reported to be looking at expansion into Bahrain, Qatar and Jordan. Dana Gas announced the date of setting the conversion price for the convertible sukuk (06 July 2008).

A short trading week next week as Eid Al Adha holidays start. No official market announcements have been seen but we assume they will be closed in line with the government sector holiday which runs from Tue 18 Dec to Sun 23 Dec 2007 (both days included).

Dubai Financial Market and Abu Dhabi Securities Market index for 13 December 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
ADNIC 8.90 +0.79 +9.7%
FH 8.02 +0.65 +8.8%
OEIHC 31.95 +1.95 +6.5%
GFH 11.50 +0.70 +6.5%
RAKBANK 8.50 +0.50 +6.3%
worst stock falls
symbol price change
NBF 3.92 -0.38 -8.8%
ASCANA 2.10 -0.11 -5%
ENBD 13.90 -0.70 -4.8%
UNION 2.72 -0.12 -4.2%
ALFIRDOUS 2.71 -0.10 -3.6%
top volume
symbol value (AED) price
ALDAR495,953,07511.15
DEYAAR360,807,5712.94
EMAAR337,597,95813.65
SOROUH305,946,7978.13
ARKAN305,029,1044.11

Dubai Financial Market

Yesterday Emirates NBD rose 5%, keeping the DFMGI from falling in line with the downturn in most other stocks. Today, Emirates NBD fell almost 5%, dragging the index down 0.4% to 5751 points despite most of the actively traded stocks rising 0-2%. Total turnover was a relatively moderate AED 1.7 billion.

The top 4 gainers rose on very little trading with none seeing turnover more than AED 1m. Islamic Arab Insurance (IAIC) was the best of the more active gainers, rising just 1.4% to 3.74. Du Telecom (DU) rose 1.35% to 6.01, GULFNAV up 1.2% and Emaar Properties (EMAAR) up 1.1% to 13.65. AIRARABIA, Commercial Bank of Dubai (CBD), Dubai Investments (DIC), DEYAAR, and Union Properties (UPP) all rose less than 1%.

As mentioned, Emirates NBD (ENBD) fell 4.8% to 13.90 and was the top loser, apart from ASCANA on thin trading. AMAN fell 2.05 % to 28.65, Arabtec (ARTC), Amlak Finance (AMLAK), and Dubai Islamic Bank (DIB) all fell less than 1%.

Abu Dhabi Securities Market

The ADSMI rose slightly during today's session to close up by 0.17% at 4520 points with turnover of AED 1.5 billion. Aldar Properties (ALDAR), Sorouh Real Estate (SOROUH), and ARKAN made up over AED 1 billion of that total between them, with Aldar up 1.4% to 11.30, and Sorouh and Arkan up 1% to 8.23 and 4.12 respectively.

FH was the star gainer today, rising a solid 8.8% to 8.10 from AED 10.6 million of turnover which is more than we usually see from them. NBS also stood out with a 4.5% increase to 3.77 and a very high turnover (for them) of AED 58m. No news has been seen to explain the increased interest. ADAVIATION, up 3.9%, and Abu Dhabi Commercial Bank (ADCB) up 1.3% were the remaining gainers trading more than AED 1m worth.

Oasis Leasing (OILC) topped the active losers list with a fall of just 1.15% to 2.58. The top 4 losers fell on thin trading. Etisalat (ETISALAT) was down by 0.85% to 23.20. The remaining 10 losers fell less than 1% each.

Posted by sharewadi at 13:45

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