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

Wednesday, March 07, 2007

DFM lists at more than 2x par - 07 Mar 2007

UAE market news & discussions for 07 March 2007

More UAE stock market news and discussions...

Dubai Financial Market and Abu Dhabi Securities Market index for 07 March 2007

Dubai and Abu Dhabi stock market report 07 March 2007

best stock rises
symbol price change
DFM 2.38 +1.35 +131.1%
QTEL 246.40 +21.20 +9.4%
ASMAK 4.38 +0.28 +6.8%
TKFL 2.90 +0.10 +3.6%
AMAN 13.85 +0.30 +2.2%
worst stock falls
symbol price change
AKIC 1.77 -0.14 -7.3%
ADIB 52.55 -3.65 -6.5%
NBS 2.24 -0.15 -6.3%
AABAR 2.33 -0.14 -5.7%
TAQA 2.01 -0.08 -3.8%
top volume
symbol value (AED) price
DFM851,842,4602.38
EMAAR77,453,96512.75
IAIC71,096,5222.97
ADIB29,453,10852.55
SOROUH26,750,4242.82

Dubai Financial Market

A big day for DFM today with its own shares being listed and, unsurprisingly, showing a large paper gain on the par value of 1 dh per share. DFM stock traded between 2.22 and 2.60 dhs, finally closing at 2.35. Volume of trading substantial as expected. Over 350m shares changed hands with a huge value of 852m dhs - about 80% of DFM's total traded value of 1.1 billion dhs. The DFM index overall barely moved, down by just 0.01% with an even split between stocks rising and stocks falling. Biggest rise of note was just 1% for Tamweel PJSC (TAMWEEL), biggest fall was 0.8% for GULFNAV (ignoring movements for DFM and low volume stocks). Emaar Properties PJSC (EMAAR) was up by 0.4% to 12.75 on a very low 77m dhs worth of trading.

NBD and EBI shares had trading suspended today at least, and possibly longer while ESCA and DFM sort out the news (they must have been pleased to find out from the press) about the surprise merger of National Bank of Dubai and Emirates Bank.

Abu Dhabi Securities Market

An unpleasant day over at ADSM while DFM was in the spotlight. The index fell 1.4% to 3036 on moderate volumes of 126m dhs of trading with only two shares rising on any significant volumes. Oasis International Leasing Company PJSC (OILC) was up 1.3% to 9.56 and Qatar Telecom (QTEL) rocked ahead by 9.4% to 246.40 but from just over 1 million dhs worth of trades. The worst of the losers were Aabar Petroleum Investments Company PJSC (AABAR) down 5.7% to 2.33 on lowish volume and Abu Dhabi Islamic Bank (ADIB) down 6.5% to 52.55 on moderate volume - no doubt a bit of profit taking going on for both stocks after recent sharp gains. Abu Dhabi National Energy Company (TAQA) also got a bit of a kick, down 3.8% to 2.01. Aldar Properties PJSC (ALDAR) price remained unchanged on low volumes, the announcement that founders could sell their shares not appearing to affect the price.

  • Annual General Meetings (AGMs) coming up for AEIBANK (10 Mar 2007), EMAAR (11 Mar 2007), RAKCEC (11 Mar 2007).
  • Dividend Record Dates coming up for RAKCC (11 Mar 2007), ALDAR (12 Mar 2007), NGI (12 Mar 2007), RAPCO (12 Mar 2007).
  • Discuss and read UAE company news at Dubai Share Talk.

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