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

Sunday, April 01, 2007

AMLAK plummets, DFM & ADSM down 01 Apr 07

UAE markets Sunday 01 April 2007

AMLAK set off resolutely downwards - plummeting by 8% today after news that its bank licence application was declined, unless it was because Mohammed Alabbar (EMAAR Chairman) resigned from his post as AMLAK chairman. The TAMWEEL CEO was hopeful they'd still get their bank licence, and made the dubious claim of having the highest dividend yield in the market - correct if you ignore the top dozen or so higher yields. And has anyone seen any news about the Air Arabia IPO since it closed last week?

DIFX and the London Stock Exchange (LSE) are in talks to form an alliance. Julius Baer (Swiss Investment Bank) said we can look forward to the DFM falling by another 1000 points. Good luck to the students who start the DFM stock market game today (it is today isn't it?).

AGM yesterday for TAMWEEL. AGM today for AKIC. AGMs tomorrow for NBF and ADSB. Shares ex-dividend today GGICO. Last trading day for dividend entitlements today for ETISALAT, GMPC, SOROUH. Do not act on this information before confirming it first with the market.

Dubai Financial Market and Abu Dhabi Securities Market index for 01 April 2007

Dubai and Abu Dhabi stock market report 01 April 2007

best stock rises
symbol price change
CBI 2.67 +0.24 +9.9%
TKFL 4.08 +0.26 +6.8%
MASQ 194.50 +9.25 +5%
RAKCEC 4.62 +0.18 +4.1%
FOODCO 3.50 +0.13 +3.9%
worst stock falls
symbol price change
ARIG 2.89 -0.30 -9.4%
AMLAK 2.93 -0.26 -8.2%
FH 7.94 -0.57 -6.7%
AKIC 1.63 -0.12 -6.9%
FCI 3.81 -0.24 -5.9%
top volume
symbol value (AED) price
EMAAR120,792,04911.10
AMLAK52,553,1802.93
DFM47,242,2102.10
DIB33,189,0866.51
GULFNAV32,996,8031.01

UAE market news & discussions for 01 April 2007

UAE market news & discussions for Sunday 01 April 2007

More UAE stock market news and discussions..

Dubai Financial Market

The DFM kicked off April in a lacklustre fashion, falling by 0.35% to 3714 points and light volume of 355m dhs of trading.

Amlak Finance Company (AMLAK) was in the spotlight with a heavy 8.3% fall to 2.88 after news over the weekend that it was denied a bank licence. Tamweel PJSC (TAMWEEL) fell a sympathetic 3% to 3.29, its bank licence application still in the pipeline. GULFNAV also took a 3% tumble to close at par value of 1.00 dhs. Will it fall further? Arab Insurance Group (ARIG) fell 10% from just 5 trades which is near enough to the correct adjustment after going ex-dividend.

Emaar Properties PJSC (EMAAR) close price of 11.05 was unchanged from Thursday, traded volume only 121m dhs worth today.

Only four stocks rose today from very few trades - MASQ, National Bank of Dubai (NBD), Emirates Bank International Group (EBI) and GGICO.

Abu Dhabi Securities Market

ADSM fell 0.5% to 2869 points, trading volumes moderate at 159m dhs by value.

Good rises on big volumes of 3.4% to 1.23 for AGTHIA, and 6.8% to 4.08 for TKFL. Oasis International Leasing Company PJSC (OILC) had a more relaxed day today with just a 0.8% rise to 9.89 but a still significant 13m dhs of trading.

Aldar Properties PJSC (ALDAR) was the most heavily traded by volume, continuing its demise with another 1.2% fall to 4.09. Other actively traded stocks today fell 2% or less, including Aabar Petroleum Investments Company PJSC (AABAR), Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), ARKAN, Dana Gas PJSC (DANA), Emirates Telecommunications Company (ETISALAT), Gulf Cement Company (GCEM), National Bank of Abu Dhabi (NBAD), Ras Al Khaimah Properties PJSC (RAKPROP) and Sorouh Real Estate (SOROUH).

Sudan Telecom Company Ltd (SUDATEL) took a 2.7% hit and Sharjah Cement & Industrial Development Company (SCIDC) was down by 3.6%.

AGMs and EGMs (E&OE) this week

Last Trading Days this week - Record Date is two days later (E&OE)

Blog Archive