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

Tuesday, May 01, 2007

UAE markets 01 May 2007

UAE market news & discussions for 01 May 2007

ADSM and DFM headed in opposite directions today with DFM's own shares dragging the index up. First quarter 2007 results released so far today from ALDAR (fiddling with land valuations again), UPP (also fiddling with land valuations), GULFNAV (IPO income making them look good), ADSB, DU Telecom (not losing as much as they thought they would), PALTEL and QCEM. FGB announced a JV with ALDAR, SOROUH, and Reem Investments to set up an Islamic Finance company - would be ironic if they applied and received a bank licence after the rejections for AMLAK and TAMWEEL. SICO (Securities & Investment Company) in Bahrain says GCC stocks are 20% undervalued. NBAD is going to set up a private banking unit in Switzerland. More news from Saudi about the massive $100 billion bank proposal, but renamed to Eamar from Emaar.

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

More UAE stock market news and discussions...

best stock rises
symbol price change
OEIHC 21.70 +1.85 +9.3%
ADAVIATION 2.14 +0.13 +6.5%
DFM 2.76 +0.15 +5.7%
ADNIC 8.00 +0.41 +5.4%
FH 9.11 +0.45 +5.2%
worst stock falls
symbol price change
ADNH 4.35 -0.48 -9.9%
RAKBANK 5.50 -0.50 -8.3%
AKIC 1.50 -0.13 -8%
QCEM 2.17 -0.17 -7.3%
NBF 3.77 -0.28 -6.9%
top volume
symbol value (AED) price
DFM594,878,5452.76
TAMWEEL270,681,2533.70
EMAAR168,948,57710.95
GULFNAV115,619,3251.16
DIB102,995,2067.54

Dubai Financial Market

DFM was looking good today, both the market and their own shares which rose 5.7% to 2.80 on huge traded value of 594m dhs. The index was up a solid 1.3% to 3870 points with total traded value of AED 1.48 billion.

Other heavily traded shares were Dubai Islamic Bank (DIB) up 2.3%, GULFNAV up 2.7%, and Tamweel PJSC (TAMWEEL) up 2.5%. Emaar Properties PJSC (EMAAR) remains subdued, only 170m dhs of trading and a 1.9% increase to 10.95. Amlak Finance Company (AMLAK) had a better day with 4.7% increase but relatively low volumes. All other actively traded shares rose by 0-2%, except for AMAN which fell marginally.

Abu Dhabi Securities Market

ADSM disappointed a little today with a fall of 0.3% to 3044 points from a sizeable 288m dhs of trading. Once again, trading was dominated by Gulf Cement Company (GCEM) but taking a slight breather from its steep ascent with 2.4% decrease to 6.93.

Rises on significant volumes for Ras Al Khaimah White Cement Company (RAKWCT) up 3.4%, Ras Al Khaimah Cement Company (RAKCC) up 0.5%, Sorouh Real Estate (SOROUH) up 1.4%, Dana Gas PJSC (DANA) up 1.5%, DRIVE taking off again with a 4.8% rise, Finance House PJSC (FH) up 5.2%, Oasis International Leasing Company PJSC (OILC) up 0.8%, ADAVIATION up a surprising 6.5%, Aldar Properties PJSC (ALDAR) up 3.2%.

Notable falls for ADNH down 9.9%, ARKAN down 0.8%, National Bank of Abu Dhabi (NBAD) down 1.6%, and QCEM down 7.3%.

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