Dubai and Abu Dhabi stock market report 28 February 2007
| best stock rises |
| symbol |
price |
change |
| ASMAK |
3.77 |
+0.34 |
+9.9% |
| NBF |
4.58 |
+0.40 |
+9.6% |
| CBI |
2.70 |
+0.17 |
+6.7% |
| AABAR |
2.54 |
+0.13 |
+5.4% |
| AGTHIA |
1.20 |
+0.06 |
+5.3% |
|
| worst stock falls |
| symbol |
price |
change |
| OEIHC |
23.00 |
-1.90 |
-7.6% |
| FGB |
12.50 |
-0.55 |
-4.2% |
| INVESTB |
2.21 |
-0.08 |
-3.5% |
| GLOBAL |
11.55 |
-0.40 |
-3.3% |
| EBI |
13.15 |
-0.40 |
-3% |
|
| top volume |
| symbol |
value (AED) |
price |
| EMAAR | 399,843,504 | 12.90 | |
SOROUH | 172,711,745 | 3.04 | |
TAQA | 110,181,993 | 2.35 | |
AABAR | 103,752,385 | 2.54 | |
DANA | 96,635,821 | 1.61 | |
Seemed to be a lot of news about listed shares in the UAE today with new appointments, AGM and EGM results, IPOs coming up, the big bond issue for Taqa, Emaar futures in Switzerland, and foreign ownership of Sorouh and Aldar. Yet again, the Abu Dhabi Securities Market was where all the action was, with another rise and total value traded on a par with the Dubai Financial Market, while DFM joined in with the rest of the world's turmoiled stockmarkets and ended February on a negative note.
Dubai Financial Market
DFM was down by 0.9% to close at 4173, traded value up a bit to 717m dhs with the bulk of that from Emaar Properties PJSC (EMAAR) dropping by 1.5% to 12.85 from 400m dhs worth.
Emirates Integrated Telecommunications Company (DU), Dubai Investments PJSC (DIC) and Islamic Arab Insurance Company PSC (IAIC) all increased by less than 1% - with volumes in Salama higher than normal probably as a result of the IPO in Saudi approval.
Amlak Finance Company (AMLAK) had the worst fall of 1.7% to close at 3.94. Bigger falls were from illiquid stocks. Other actively traded shares fell about 1% or less. Union Properties PJSC (UPP) fell by 1.2% - its news about borrowing money for F1 theme parks not impressing investors.
Abu Dhabi Securities Market
ADSM rocked yet again today with big volumes and rises from several actively traded stocks. Total value traded was AED 768m, just higher than DFM, while the index crept up another 0.3% to close at 3091 points with the energy stocks the big ones today.
Aabar Petroleum Investments Company PJSC (AABAR) opened high and almost went limit up today but fell back to 2.41 by the end of trading. Average of 2.54 still up by 5.4% from yesterday's close and a solid 104m dhs worth traded.
Dana Gas PJSC (DANA) also heavily traded with 97m dhs worth and up by 3.2%. Abu Dhabi National Energy Company (TAQA) rounded off the energy sector with 110m dhs worth and a 3.5% increase.
Sorouh Real Estate (SOROUH) was the most heavily traded stock with 172m dhs worth and a 1.7% increase - today's news of an EGM to decided foreign ownership explaining the big interest in the past week.
Other rises on large volumes for Ras Al Khaimah Properties PJSC (RAKPROP) up 0.7%, Ras Al Khaimah Cement Company (RAKCC) up 1%, Emirates Telecommunications Company (ETISALAT) up 0.3%, Gulf Cement Company (GCEM) up 1.5%, Oasis International Leasing Company PJSC (OILC) up 0.6%, ARKAN up 2.5%, and AGTHIA up a stellar 5.3%. ADNIC also noted for a 4.3% increase from a single large trade of 250,000 shares. Hopefully it wasn't someone making the same mistake as the Gulf News this morning with their news about ABNIC.
The biggest drop of note today was for First Gulf Bank (FGB), plunging by 5.4% on moderate volume of 18m dhs. Other more active stocks fell by 1% or less including National Bank of Abu Dhabi (NBAD), Ras Al Khaimah White Cement Company (RAKWCT), Abu Dhabi Commercial Bank (ADCB), and NBS. Aldar Properties PJSC (ALDAR) the most heavily traded stock to fall, 57m dhs worth and a 1% drop.
