UAE market news & discussions for 05 July 2007A relatively quiet day on both ADSM and DFM with both indices down again. ADSM trading was dominated by Oasis Leasing (rising slightly), and DFM by trading in Amlak Finance after releasing encouraging preliminary results yesterday, although how much profit came from the sale of their stake in Emaar Industries and Investments was not disclosed. |
- 05 July 2007 UAE business and stock news
- Air Arabia IPO
- ALDAR awards AED 380m Injazat contract to Ed Zublin AG PR 04 Jul 07
- AMLAK 2007 Q2 profit +86.4% to AED 82m, H1 profit +31% to AED 106m
- BOS Bank of Sharjah gets banking licence in Lebanon PR 04 Jul 07
- DFSA investigates $5 bn fraud attempt at Lloyd's Bank - 03 Jul 07
- Dubai Holding's DIC buys a 3% stake in EADS - 05 Jul 2007
- EBI and NBD Boards approve merger terms, trading suspended - 02 Jul 07
- EMAAR and ETISALAT in FT Global top 500 companies for 2007
- GLOBAL to bid for 51% of Al Jazeera Steel Products Company? ... No
- Jazeera Airways plans Kuwait listing in Sep 2007
- Kingdom Holding prepares IPO - BB 04 July 2007
- NIND National Industries to raise AED 5.5 bn in Sukuk - 04 July 2007
- QTEL Qatar Telecom to acquire stake in 3 Kuwait companies? No
- RAK Airways to buy two 737-800s and lease two - BB 03 Jul 07
- TAIB subsidiary buys stake in Dubai-based Redha Al-Ansari - 05 Jul 2007
- 04 July 2007 UAE financial and stockmarket news
More UAE stock market news and discussions...
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Dubai Financial Market
The DFMGI barely moved with a fall of just 0.05% to 4485 points on relatively low traded value of 504m dhs for the day.
Amlak Finance Company (AMLAK) was the most heavily traded stock with 142m dhs worth of deals but share price unchanged in the end at 3.64. Islamic Arab Insurance Company PSC (IAIC) and Union Properties PJSC (UPP) also had a flat day.
A very short list of gainers with NCC up 4.7% to 11.25 from a single trade, Dubai Islamic Bank (DIB) up 1.1% to 10.10 and DFM up 0.3% to 3.25. Shuaa Capital PJSC (SHUAA) was down by 2.5% to 5.06 which was smaller than the expected 4% drop to compensate for their shares going ex-dividend today.
The losers list was topped by WARE falling almost 15% from a single trade of just 100 shares. Other falls on (relatively) active trading for AMAN down 2.8%, GGICO down 1.8%, Arabtec Holding PJSC (ARTC) down 1.3% and the remainder falling by less than 1%. Emaar Properties PJSC (EMAAR) had a very quiet day, down by 0.4% from just 50m dhs worth of trades.
Abu Dhabi Securities Market
The ADSM general index had a small drop of 0.43% to 3617 points from moderate traded value of 393m dhs with well over half of that in Oasis International Leasing Company PJSC (OILC) shares - 253m dhs worth and a 1.4% rise to 1.48. No other shares came even close by volume, with Aldar Properties PJSC (ALDAR) next in the list and only trading 31m dhs worth to fall by 1% to 7.14.
Rises on active trading for Finance House PJSC (FH) up 4.4% to 7.94, NBQ up 1.1%, Ras Al Khaimah Cement Company (RAKCC) up 0.4% and Emirates Telecommunications Company (ETISALAT) up just 0.27%, but none of them trading more than 10m dhs worth for the day.
A longer list of falling stocks included National Bank of Abu Dhabi (NBAD) down 2.4% but from only 4 small trades, Gulf Cement Company (GCEM) down 2.1%, NBS down 1.4%, Abu Dhabi Commercial Bank (ADCB) down 1.2%, and most of the usually active stocks dropping by 1% or less.
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