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

Tuesday, July 10, 2007

UAE markets 10 Jul 2007

UAE market news & discussions for 10 July 2007

Both UAE stockmarkets had a good day with ADSM volumes significantly higher than on DFM due to solid trading in property developers.

National Bank of Fujairah released 2007 Q2 results showing a 45% increase in profit. Several banks received upgraded ratings from Fitch and Capital Intelligence while Moody's upgraded UAE bond ratings and expressed concern about Emaar's dependence on the Dubai property market. Damas said they were considering an IPO.

Dubai Financial Market and Abu Dhabi Securities Market index for 10 July 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
UNION 2.48 +0.21 +9.3%
RAKBANK 6.75 +0.45 +7.1%
FOODCO 4.72 +0.28 +6.3%
DRIVE 3.32 +0.16 +5.1%
OEIHC 18.95 +0.90 +5%
worst stock falls
symbol price change
BAYAN 3.65 -0.35 -8.8%
AWNIC 4.21 -0.09 -2.1%
SCIDC 4.26 -0.09 -2.1%
QTEL 246.00 -4.00 -1.6%
OILC 1.54 -0.02 -1.3%
top volume
symbol value (AED) price
SOROUH279,673,0494.46
EMAAR275,444,84012.15
ALDAR201,054,0967.80
DFM138,799,6623.34
DANA138,239,1281.74

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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