|
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dubai and Abu Dhabi Market news & discussions today
UAE finance and economy related news and discussions today
- India-GCC trading bloc proposed by the UAE - 08 Jan 2007
- NBAD says UAE economy up 7% for 2007 - Reuters 08 Jan 2007
- Dubai rent cap 7% for 2007 - or 0% if rent increased in 2006? WAM 01 Jan 07
- Dubai Property Market in 2007 - any comments?
- UAE stock markets 2007 - your comments?
UAE Market Report for Monday 02 January 2006
A quietish day on DFM with stocks generally going nowhere and moderate volumes of 526m dhs worth of trading. The index was marginally lower by 0.13% to close at 4175 after an initial drop and then a recovery. Fujairah Trade Center was a new listing for DFM today, and like DRC yesterday, nobody was interested.
ADSM looking a little more interesting with a 0.31% rise to 3086 on volumes of 123m dhs - mostly from Aldar Properties PJSC (ALDAR) and Abu Dhabi Islamic Bank (ADIB), while ARKAN, the new stock on the block really was on the block heading down another 10%.
Dubai Financial Market
The actively traded stocks moved very little today. Dubai Investments PJSC (DIC) and Dubai Islamic Bank (DIB) the exceptions with slightly more than 1% rises on good volumes for both of them. News of M'Sharie's purchase of part of a rubber plant possibly explaining heavier trading in Dubai Investments recently.
Aramex PJSC (ARMX) and Tamweel PJSC (TAMWEEL) were up by less than 0.5%, Emaar Properties PJSC (EMAAR), Emirates Integrated Telecommunications Company (DU) and Union Properties PJSC (UPP) went nowhere, Shuaa Capital PJSC (SHUAA) down slightly on only 9 trades, Amlak Finance Company (AMLAK), Arabtec Holding PJSC (ARTC), National General Cooling Company PJSC (TABREED) all down by about 0.5% or less. National Bank of Dubai (NBD) again showing unusual activity - 400,000 shares today from just 3 deals with a marginal rise of 0.7% to 9.06. Larger drops of 2-5% for NCC, Emirates Bank International Group (EBI), GGICO, and National Bank of Dubai (NBD) from only 1 or 2 trades in each stock.
Abu Dhabi Securities Market
As on DFM, it was a bit of a mixed bag with very few clear movements. Abu Dhabi Islamic Bank (ADIB) with a 1.3% rise to 52.80 and 33m dhs trading volume was a clear leader, Aldar Properties PJSC (ALDAR) with 32m dhs traded was also busy but a slight drop of 0.8% wasn't encouraging.
Arkan Building Materials not looking healthy again today. It opened limit down (10%) at 1.50 and stayed there all day, with about two thirds of the day's volume going through right on the opening bell. Similar to yesterday, no buyers in the queue and 12m shares waiting to be sold at close. Tomorrow's price ... 1.35?
Dana Gas PJSC (DANA) and National Bank of Abu Dhabi (NBAD) went up by less than 1%, while Emirates Telecommunications Company (ETISALAT), Gulf Pharmaceutical Industries (JULPHAR) and Gulf Cement Company (GCEM) all rose about 1% on similar volumes by value. Foodco Holdings PJSC (FOODCO) and ADNH were up over 2%.
Ras Al Khaimah Properties PJSC (RAKPROP) and RACC didn't move. Sorouh Real Estate (SOROUH), Sudan Telecom Company Ltd (SUDATEL), Abu Dhabi National Energy Company (TAQA), Aabar Petroleum Investments Company PJSC (AABAR), Abu Dhabi Commercial Bank (ADCB) and First Gulf Bank (FGB) fell between 0% and 1.5%. DRIVE was busy again after a period of calm - a 3% fall to 1.62.
NBQ had a 10% fall to 4.95 from just 2 trades, NCTH had a single trade (the first for a month) and an 8.6% fall to 4.25. Biggest rise was 7.5% for Union Insurance from just 1 deal.
- Discuss and read UAE company news at Dubai Share Talk.
