Dubai and Abu Dhabi stock market report 25 February 2007
| best stock rises |
| symbol |
price |
change |
| ASMAK |
3.47 |
+0.31 |
+9.8% |
| RAKWCT |
1.84 |
+0.10 |
+5.7% |
| NCC |
13.05 |
+0.60 |
+4.8% |
| SOROUH |
2.79 |
+0.11 |
+4.1% |
| DNIR |
3.34 |
+0.11 |
+3.4% |
|
| worst stock falls |
| symbol |
price |
change |
| RAKCEC |
4.90 |
-0.25 |
-4.9% |
| NBAD |
23.90 |
-1.10 |
-4.4% |
| DANA |
1.50 |
-0.06 |
-3.8% |
| AMAN |
14.35 |
-0.55 |
-3.7% |
| GGICO |
8.54 |
-0.31 |
-3.5% |
|
| top volume |
| symbol |
value (AED) |
price |
| SOROUH | 268,167,171 | 2.79 | |
EMAAR | 145,261,528 | 13.10 | |
AABAR | 94,059,138 | 2.21 | |
DANA | 34,518,179 | 1.50 | |
DIC | 29,480,485 | 4.43 | |
Dubai Financial Market
It's a rare day that DFM is eclipsed by ADSM but today was one of those days. Volume of only 321m dhs was two thirds of the heavy trading down the road in Abu Dhabi.
The DFM index quietly slid 0.4% to 4208 with very little noteworthy trading activity. Arabtec Holding PJSC (ARTC) the only stock in the active list to show a rise, and that was only 0.9% - perhaps news of a possible contract with Dubai Sports City keeping it up. Biggest rise of 4.8% from a single trade in NCC.
AMAN down 3.8% and National General Cooling Company PJSC (TABREED) down 2% had the worst days. The rest of the busy list falling about 1% or less. Emaar Properties PJSC (EMAAR) traded only 145m dhs worth and fell 0.8% to 13.05.
Abu Dhabi Securities Market
As mentioned, ADSM's 505m dhs worth of trading was well ahead of DFM volumes and much higher than normal for ADSM which fell by 0.7% to close just above 3000 points.
Half of that activity was the 268m dhs worth of trading in Sorouh
Real Estate (SOROUH) which rose a healthy 4.1% after Sorouh's
audited financial
results were released today. A quick glance at them reveals nothing different
from Sorouh's
unexciting preliminary results released at the end of January so perhaps there's
some other news that might explain the sudden activity - nothing seen so far.
Aabar Petroleum Investments Company PJSC (AABAR) had another solid day with a 2.3% rise from 94m dhs of trading, while Dana Gas PJSC (DANA) went the other way, falling 3.9%. Emirates Telecommunications Company (ETISALAT) and First Gulf Bank (FGB) were also heavily traded but with no change in price.
National Bank of Abu Dhabi (NBAD) suffered the biggest notable drop of 4.4% to close at 23.90. Most other actively traded stocks fell about 1% or less.
Ras Al Khaimah White Cement Company (RAKWCT) had a decent 5.8% rise from significant volumes after announcing a healthy dividend
of 15% (about an 8% yield). Although how healthy that is for a company with falling profits and returns is another question. Ras Al Khaimah Cement Company (RAKCC), NBS, and ADNIC the only other companies to increase on volumes of any significance. ASMAK's big rise was from just two small trades.
