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

Thursday, May 24, 2007

UAE markets 24 May 2007

UAE market news & discussions for 24 May 2007

Solid gains on both ADSM and DFM today to finish a good week on the UAE markets with vigorous trading and substantial increases for several shares, including Aabar Petroleum and Taqa going 10% limit up. There was a report that Union National Bank may be merging with another UAE bank.

Dubai Financial Market and Abu Dhabi Securities Market index for 24 May 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
IFA 10.00 +1.25 +14.3%
RAPCO 4.34 +0.39 +9.9%
EIC 10.90 +0.92 +9.2%
AABAR 2.84 +0.19 +7.2%
TAQA 2.42 +0.16 +7.1%
worst stock falls
symbol price change
FH 8.34 -0.53 -6%
ASMAK 6.22 -0.26 -4%
ADAVIATION 2.20 -0.09 -3.9%
FOODCO 3.39 -0.11 -3.1%
NCC 8.71 -0.27 -3%
top volume
symbol value (AED) price
EMAAR441,018,49711.75
DFM343,324,4103.29
SOROUH340,713,0854.16
AMLAK312,083,7913.57
ARTC260,136,5165.34

Dubai Financial Market

DFM was up 1.6% to 4336 points from almost AED 2.5 bn total traded value. Big rises for National General Cooling Company PJSC (TABREED) up 6.2% to 2.76, Union Properties PJSC (UPP) up 5.5% to 3.05, Emirates Integrated Telecommunications Company (DU) up 3.7% to 5.36, Amlak Finance Company (AMLAK) up 3.2% to 3.59. Emaar Properties PJSC (EMAAR) topped the traded value list with a 2.6% rise to 11.85. Another big jump of 14% for International Financial Advisors KSCC (IFA) to 10.00 but from just one tiny trade of just 100 shares.

Tamweel PJSC (TAMWEEL) the only stock falling on Dubai Financial Market on volume of any subtance, and that was a mere 0.5% to 4.33.

Abu Dhabi Securities Market

ADSM continued its bull run this week with a resolute 1.9% rise to 3482 points and cracked the 1 bn daily traded value for the first time in a while - total was AED 1.25 bn.

Abu Dhabi National Energy Company (TAQA) limit up to 2.48 from AED 157m of trading and Aabar Petroleum Investments Company PJSC (AABAR) limit up to 2.91 from AED 65m of trading were the stocks that shone today. ARKAN almost at maximum increase with a 9.6% rise to 1.36 and AED 138m of trading, similarly for Aldar Properties PJSC (ALDAR) up 8.9%.

Sorouh Real Estate (SOROUH) had the highest traded value of AED 338m and a decent 7.6% rise to 4.26. Other big rises on solid trading for Invest Bank (INVESTB) up 5.3%, National Bank of Abu Dhabi (NBAD) up 4.4%, Abu Dhabi Commercial Bank (ADCB) up 4.9%, and DRIVE up 4.5%. Union National Bank (UNB) shares rose a less impressive 1% but traded value was a hefty 28m dhs.

Notable losses for First Gulf Bank (FGB) running out of steam, down 0.3%, Sudan Telecom Company Ltd (SUDATEL) slowing its plummet and losing just 1%, and NBS / SIB down 1.3%. Other losses were on trivial volume levels.

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