UAE market news & discussions for 16 May 2007Most stocks on DFM fell today, negative sentiment probably affected by the mystifying news from EMAAR that the expected details of the Dubai Holding deal won't come out for another month or two. ETISALAT, AGTHIA and ALDAR continued their strong rallies, and lifted the ADSM index. |
- 16 May 2007 Dubai and UAE stocks - related business news
- GRAND 2007 Q1 earnings AED 249m +42% from 2006 Q1
- GRAND 2006 FY profit AED 154m -5.7% from 2005 - 01 Feb 2007
- EMAAR (doesn't) clarify Dubai Holding deal? 16 May 2007
- WARE / AGILITY 2007 Q1 profit AED 558m up 8.9% from 2006 Q1
- WARE Agility 2006 FY results not submitted, trading suspended - 15 Mar 07
- AABAR 2007 Q1 profit AED 34m down 24% from 2006 Q1
- DU 2006 FY loss AED 755m, no results 2005 - 31 Jan 2006
- NRE 2007 Q1 earnings - BOD meeting 15 May 2007
- RAKPROP 340m Mina Al Arab deal with Darwish Engineering 14 May 07
- EMAAR Economic City signs AED 500m contract with Saudi Oger 14 May 07
- EMAAR's EII buys 60% of Mammut Building Systems for AED 300m
- Deyaar IPO AED 3.2 bn 06-16 May 2007
- FGB Real Estate launches Westburry Square in Business Bay
- AMLAK bank licence application fails, plans AED 1.1 bn sukuks 29 Mar 2007
- TAMWEEL AGM approves dividend, hopeful on bank licence - GN 01 Apr 07
- Dana and Crescent problems with Iran - Mar 2006 to...
- why dfm running in different direction?
- will this bullish run continue?
- 15 May 2007 UAE stockmarket and business news
- 2007 Q1 results for DFM and ADSM companies
- Stock Picks by Technical Analysis May 2007
- TAQA 2007 Q1 profit AED 94m down 9.2% from 2006 Q1
- DANA Gas 2007 Q1 profit AED 21m down 59% from 2006 Q1
- OEIHC 2007 Q1 earnings announcement 15 May 2007
More UAE stock market news and discussions...
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Dubai Financial Market
An unpleasant fall on the DFM today, losing 1.7% to end at 4162 points with traded volume a still substantial 1.4 bn dhs. Big drops for Emaar Properties PJSC (EMAAR) heading the traded value list and falling 3.8% to 11.45, and National General Cooling Company PJSC (TABREED) with a nasty 7.2% decrease to 2.45. Most other commonly traded stocks fell 0-3%.
Exceptions were Shuaa Capital PJSC (SHUAA) up 1.6% to 5.20 and Islamic Arab Insurance Company PSC (IAIC) up just 0.3%. Commercial Bank of Dubai (CBD) jumped into the spotlight with an unusually active day, rising 5% to 7.41, and no sellers in the queue at the end of trading.
Abu Dhabi Securities Market
The ADSM had a 0.35% rise to 3,344 points from another solid day of trading - total traded value was 661m dhs. It's as if punters have given up on Emaar Properties PJSC (EMAAR) and the DFM, and started moving into ADSM.
Rises on big volumes for AGTHIA up 6.2% to 1.54, Abu Dhabi Islamic Bank (ADIB) up 0.8%, Dana Gas PJSC (DANA) up 2.8%, Aldar Properties PJSC (ALDAR) up 1.5%, Emirates Telecommunications Company (ETISALAT) up 1.7%, First Gulf Bank (FGB) up 0.7%, Ras Al Khaimah Properties PJSC (RAKPROP) up 4.4%.
Other interesting rises for UAB up 7.3% from 2 large trades, ASMAK up 7.7% on much greater than usual volume, Invest Bank (INVESTB) up 3.4% continuing from it's sterling performance yesterday, and DRIVE up 5.1% from relatively heavy trading.
Notable losers today included Aabar Petroleum Investments Company PJSC (AABAR) down 3.4%, Commercial Bank International (CBI) down 4.1% on heavier than usual trading, Oasis International Leasing Company PJSC (OILC) down 2.5%, Sorouh Real Estate (SOROUH) down 1.3%, Sudan Telecom Company Ltd (SUDATEL) down 0.9%, Abu Dhabi National Energy Company (TAQA) down 1%, and Union National Bank (UNB) down 0.9%.
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