Dubai and Abu Dhabi stock market report Mon 22 January 2007
| top stock rises |
| symbol |
price |
change |
| FH |
8.88 |
+0.72 |
+8.8% |
| INVESTB |
2.55 |
+0.15 |
+6.3% |
| ARIG |
2.58 |
+0.15 |
+6.2% |
| ARKAN |
1.32 |
+0.06 |
+4.8% |
| UNB |
7.22 |
+0.20 |
+2.8% |
|
| top stock falls |
| symbol |
price |
change |
| ASMAK |
2.93 |
-0.24 |
-7.6% |
| NMDC |
3.60 |
-0.22 |
-5.8% |
| NCTH |
4.29 |
-0.22 |
-4.9% |
| ADSB |
2.76 |
-0.14 |
-4.8% |
| NCC |
13.05 |
-0.65 |
-4.7% |
|
| top volume |
| symbol |
value (AED) |
price |
| EMAAR | 216,866,139 | 12.45 | |
ADIB | 72,864,769 | 52.65 | |
DIB | 64,890,628 | 8.48 | |
DIC | 58,421,756 | 4.40 | |
ARKAN | 24,850,423 | 1.32 | |
A good few companies released 2006 final results yesterday and today, notably Abu Dhabi Commercial Bank (ADCB), Arabtec Holding PJSC (ARTC), Dubai Islamic Bank (DIB), and Ras Al Khaimah Properties PJSC (RAKPROP). Both ADSM and DFM were up a little today, but less than 1%. ADSM volume up substantially to AED 188m with not quite half of that from trading in Abu Dhabi Islamic Bank (ADIB) shares. DFM relatively quieter with AED 452m dhs worth of trading and a 0.7% rise to 4160.
Dubai Financial Market
The market reacted favorably to Dubai
Islamic Bank's 50% growth in profits for 2006, with a 2.5% rise to 8.49 dhs from a solid 65m dhs worth of trading - beaten on volume only by Abu Dhabi Islamic Bank (ADIB) and Emaar Properties PJSC (EMAAR). Dubai Investments PJSC (DIC) was also trading heavily yet again although share price was up only 1%. Arabtec
released reasonable looking results prompting a 1.5% increase to 5.34. Emaar Properties PJSC (EMAAR) managed a paltry 0.8% rise from half the total DFM volume, and apart from Arab Insurance Group (ARIG) and the two losers, other traded shares rose less than 1%.
Arab Insurance Group rose 5.6% from trading of just 50,000 shares. NCC fell 4.7% from a mere 2,000 shares and Shuaa Capital PJSC (SHUAA) the only one of the active stocks to fall with a 0.9% drop.
Abu Dhabi Securities Market
Abu
Dhabi Islamic Bank (ADIB) easily the busiest share by value on ADSM today
with 73m dhs worth of trading, no clear direction though - a rise of just
0.7% to 52.65. ARKAN finally stopped their slide with a 4.8% rise to 1.32
on 25m dhs worth of trading. Number of shares was 19m which was higher than
even Emaar
Properties PJSC (EMAAR)'s total for the day.
Abu
Dhabi Commercial Bank (ADCB) was up 1.3% to 6.11 and solid volume after release
of not
very positive results for 2006. Ras
Al Khaimah Properties PJSC (RAKPROP) also released results today but trading
was lacklustre with a 0.7% drop from low volumes. Al
Wathba Insurance
released weak figures and nobody traded any of their shares, Abu
Dhabi Aviation with a disappointing fall in profits saw only 4 deals go through.
First Gulf Bank (FGB) saw an increase in activity with 20m dhs of trading but no change in price in advance of BOD meeting tomorrow and final results. Sudan Telecom Company Ltd (SUDATEL) rose a decent 2.6% from 9m dhs of trading. No other unusual volumes traded. Emirates Telecommunications Company (ETISALAT) with only 7m dhs worth and a fall of 0.3% was relatively subdued.
Biggest price movements were from Finance
House PJSC (FH) from just 2 trades and ASMAK (International Fish Farming)
from
just
one
trade.
