UAE market news & discussions for 10 July 2007Both UAE stockmarkets had a good day with ADSM volumes significantly higher than on DFM due to solid trading in property developers. |
- 10 July 2007 UAE financial and stockmarket news
- Fitch upgrades for ADIB EBI FGB MASQ NBAD UNB - PR 10 Jul 07
- AIRARABIA floats 17 July 2007 - what price?
- ALDAR awards F1 construction to Bahrains's Cebarco-WCT 10 Jul 07
- ARMX foreign ownership at max limit
- ARTC signs AED 13.5m contract with Stone Master LLC - PR 09 Jul 07
- CBD launches Visa Infinite credit card for HNW customers PR 09 Jul 07
- Damas IPO
- Damas Group borrows AED 936m for expansion plans PR 09 Jul 07
- DIB 2007 Q2 profit forecasts AED 407m to 473m
- EMAAR rating of A3 from Moody's, property concerns voiced PR 10 Jul 07
- FH Finance House 'Flexi Deposit' business account PR 10 Jul 07
- NBAD - Capital Intelligence upgrades rating to AA- PR 10 Jul 07
- NBF 2007 H1 profit +45% to AED 153m
- NBS Sharjah Islamic Bank Platinum Visa launched PR 10 Jul 07
- NBS Sharjah Islamic Bank upgrade to BBB+ from CI - PR 12 Jun 07
- RAKPROP - emirate of Ras Al Khaimah becoming popular - 10 Jul 2007
- Solidere International Ltd in DIFC - R 09 Jul 07
- TABREED wins two international gold awards from IDEA - PR 10 Jul 07
- TAMWEEL & Al Oula Real Estate JV for Saudi finance company 09 Jul 07
- UAE rating raised by Moody's to AA2 - 09 July 07
More UAE stock market news and discussions...
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Dubai Financial Market
DFM saw moderate trading of 725m dhs and a healthy 0.7% rise to 4549 points with a sharp increase in the index near the end of the trading session.
Emaar Properties PJSC (EMAAR) topped the traded value list with 275m dhs worth of deals and a 1.25% increase to 12.15. Almost all traded shares showed an increase, AMAN up by 3.6% to 27.20 at the top of the list. Other increase of note for National General Cooling Company PJSC (TABREED) up 1.8%, Aramex PJSC (ARMX) up 1.5%, DFM up 1.2%, Amlak Finance Company (AMLAK) up 1.1%, Dubai Investments PJSC (DIC) up 1% and the remaining actively traded stocks up by less than 1%.
Only two stocks fell, BAYAN down by 8.75% to 3.65 from one small trade and GGICO down 1.2% on light trading.
Abu Dhabi Securities Market
The ADSM index was up by 0.58% to 3705 from a solid 1.13 billion dhs of trading.
Sorouh Real Estate (SOROUH), up by 3.7% to 4.45, and Aldar Properties PJSC (ALDAR), up by 2.5% to 7.72 dominated trading with AED 280m and AED 201m worth of deals respectively. Dana Gas PJSC (DANA), up by 2.35% to 1.74, and Ras Al Khaimah Properties PJSC (RAKPROP), up by 2.9% to 1.73 were also heavily traded.
UNION closed almost limit up with a 9.25% increase to 2.49 from greater than usual trading. DRIVE continued to drive ahead with a 7.3% increase to 3.39. Aabar Petroleum Investments Company PJSC (AABAR) with a 4.2% increase to 3.43 was the most impressive gain out of the more actively traded shares on ADSM. Abu Dhabi National Energy Company (TAQA) was up by 1.4% and the remaining stocks with significant activity today rose by less than 1%. Emirates Telecommunications Company (ETISALAT), First Gulf Bank (FGB), and National Bank of Abu Dhabi (NBAD) share prices closed unchanged from yesterday.
Qatar Telecom (QTEL) fell 1.6% from just one trade. Oasis International Leasing Company PJSC (OILC) dropped by 1.3% to 1.52 on relatively lower volumes. Gulf Cement Company (GCEM), Ras Al Khaimah Cement Company (RAKCC), Abu Dhabi Commercial Bank (ADCB), and AGTHIA all fell by less than 1%.
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