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Dubai and Abu Dhabi Market news & discussions today
- WARE & NRE - share prices fall on cancelled contracts? 26 Nov 2006
- FCI board meeting 31 Jan to discuss profit distribution - ADSM 07 Jan 2007
- ADAVIATION capital increase - ADSM 07 Jan 2007
- ADCB financial partner for AED 800m Waterfront Residence - KT 06 Jan 2007
- Al Safwa Islamic Financial Services [banned by ESCA 02 Jan 2007]
- ESCA bans 2 brokers, warns 21 others - WAM 02 Jan 2007
- Oil price fall to $55 at start of 2007, could fall further - R 07 Jan 2007
- UAE - US Free Trade Agreement talks revival? - KT 15 Nov 2006
- Emaar property management now under Hamptons - WAM 06 Jan 2007
- GCC Energy Fund II - second one to be launched in 2007 - GN 07 Jan 2007
- Dividends on UAE shares for 2006 to increase? ET/AME 04 Jan 2007
- GLOBAL to set up AED 7.3 bn Global Buyout Funds - GN 06 Jan 2007
- ADIB board meeting to discuss AED 1.5 bn sukuk - ADSM 28 Dec 2006
- RAKCEC - EFG-Hermes report says buy - 28 Dec 2006
- Global trade up to $27 trillion by 2030 says World Bank - KT 05 Jan 2007
- MASQ to sell a 10 year dollar bond - GN 05 Jan 2006
- ETISALAT revenue estimate for 2007 down due to DU - GN 05 Jan 2007
- Dubai Ports World will sell stakes in two Australian port units - ET 05 Jan 2007
- Dubai hotel capacity to increase by 25% in 2007 - ET 05 Jan 2007
- Dubai Property Market in 2007 - where do you think it will go?
- UAE stock markets 2007 - what do you think will happen?
UAE Market Report for Monday 02 January 2006
A day of divergence today with ADSM up 1% to 3119 points and DFM down 0.6% to 4172 points. Both markets saw increased volumes - just under AED 1bn for DFM and AED 164m for ADSM, a third of that from heavy trading in Abu Dhabi Commercial Bank (ADCB) shares.
Dubai Financial Market
Emaar Properties (EMAAR) traded 616m worth - two thirds of the DFM total - with a fall of 0.4% to 12.75. Du Telecom (DU) was down by an unpleasant 3.4% on second highest volume of 114m dhs. Aramex Logistics (ARMX) , Amlak Finance (AMLAK) , Dubai Investments (DIC) , Islamic Arab Insurance Company (IAIC) , Shuaa Capital (SHUAA) , Union Properties (UPP) all fell about 1-2%, Arabtec Holdings (ARTC) fell 0.75% and National General Cooling Company (TABREED) not too promising with a 2.2% fall to 2.25.
DIB the only one of the active shares on DFM to show an increase - and that was only by a fil to 8.31. GGICO, GLOBAL, DNIR had 3-6% increases on very few trades.
Abu Dhabi Securities Market
ADSM, in contrast to DFM, saw increases from all the actively traded stocks with Abu Dhabi Commercial Bank (ADCB) the star of the day by far. Its 50m dhs worth of trading well in excess of their normal trading, and on any ADSM stock for that matter recently. It's very doubtful this is related to the news yesterday that they are the financial partner for the Waterfront Residence. More likely to do with 2006 profits and/or dividends.
SUDATEL was also unusually busy with 19m dhs worth traded and a 2.8% rise to 8.05, and BILDCO also kicking up a 3.6% from 10m dhs traded - well in excess of their normal volumes. Since they announced last week that the share buyback was complete, perhaps there's good profit news coming from them.
Abu Dhabi Islamic Bank (ADIB) , Aabar Petroleum (AABAR) , Al Dar Properties (ALDAR) , FGB, RAKCC, SOROUH and Abu Dhabi National Energy Company (TAQA) all rose 1-2% with FGB volumes still up a bit from normal. Dana Gas (DANA) with no change at 1.57 on a moderate 11m dhs worth of trading, and GCEM and TKFL both up about 3%. As for the losers, INVESTB was the worst of the lot with a 6.3% drop to 2.38 on heavier than normal trading (they rarely trade at all). A couple of bigger decreases from other stocks were from very few or single trades and thus not really significant, except perhaps for JULPHAR with its 8.9% fall from 7 trades.
- Discuss and read UAE company news at Dubai Share Talk.
