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

Thursday, February 08, 2007

AABAR up TKFL crash IAIC buyback 08 Feb 07

UAE market news & discussions for 08 February 2007

 

Dubai Financial Market and Abu Dhabi Securities Market index for 08 February 2007

   

Dubai and Abu Dhabi stock market report 08 February 2007

top stock rises
symbol price change
ASMAK 3.46 +0.31 +9.8%
NBQ 4.40 +0.39 +9.7%
INVESTB 2.78 +0.24 +9.4%
QCEM 1.80 +0.15 +9.1%
EIC 12.95 +0.75 +6.1%
top stock falls
symbol price change
TKFL 2.78 -0.27 -8.9%
NBF 4.00 -0.29 -6.8%
ADSB 2.71 -0.16 -5.6%
ADAVIATION 2.18 -0.09 -4%
MAZAYA 8.26 -0.29 -3.4%
top volume
symbol value (AED) price
GULFNAV 384,777,097 1.37
EMAAR 134,986,151 13.00
IAIC 43,811,629 2.47
AMLAK 43,261,587 3.79
DIC 25,512,118 4.48

 

Dubai Financial Market

DFM fell slightly today after a few up days, closing at 4167 points with total volume of 800m dhs distorted by heavy trading in the new listing of Gulf Navigation, otherwise it would have been a relatively quiet day.

Emaar Properties PJSC (EMAAR) fell slightly by 0.8% to 12.95 on relatively light volume of only 135m dhs worth, dwarfed by GULFNAV volumes of 385m dhs on its second day of trading from a massive 281m shares being exchanged. Surprisingly, showing a rise of 2.3% to close at 1.32 dhs/share.

Islamic Arab Insurance Company PSC (IAIC) was up 3.4% to 2.45 on heavier than normal trading after yesterday's BOD meeting announced a 10% share buyback. Biggest rise from GGICO, up 5% to 8.92 on unusually heavy trading, with no sellers in the queue by the end of the session. They also muttered something about a share buyback some time ago.

National Bank of Dubai (NBD) again trading in abnormally high quantities, or perhaps this is beginning to be normal and DFM will have to add them to the actively traded stocks list. The share price fell 3.2%. Amlak Finance Company (AMLAK) and Aramex PJSC (ARMX) fell again today but less dramatically than earlier this week. Amlak is down 27% in the past two weeks, and Aramex down by 23%. Shuaa Capital PJSC (SHUAA) fell only 1.5% despite becoming subject to an ESCA probe into possible share price manipulation. Biggest fall was 3.4% from MAZAYA from just 3 deals.

Abu Dhabi Securities Market

A big 5% jump to 1.62 from Aabar Petroleum Investments Company PJSC (AABAR) today, turning around from several days worth of falls, dragged the ADSM index up by 0.2% to close at 2952 points. Total volume was a moderate 75m dhs worth. Aabar traded value was third highest after Abu Dhabi Islamic Bank (ADIB) with a 1.8% fall to below 50 dhs per share, and First Gulf Bank (FGB) with no price movement - same as yesterday.

TKFL had a very unpleasant day, falling 8.9% to 2.78. Emirates Telecommunications Company (ETISALAT) was down slightly on thin trading, Dana Gas PJSC (DANA) up slightly on average volumes, Abu Dhabi National Energy Company (TAQA), Sorouh Real Estate (SOROUH), Ras Al Khaimah Cement Company (RAKCC), National Bank of Abu Dhabi (NBAD) all up by 0-2% on volumes worth talking about, while RAKPROP and ARKAN prices didn't change.

Any other extreme price moves were from single or a couple of small trades.

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