UAE market news & discussions for 11 July 2007Both DFM and ADSM fell, despite strong performances in Al Dar Properties, with a report from Shuaa Capital yesterday rating their shares as almost 50% undervalued, and Sorouh Real Estate. Total traded value on ADSM was once again higher than on DFM. |
- UPP 2007 profit H1 AED 295m +26%, Q2 AED 154m +26% from 2006
- FH 2007 profit H1 AED 80m -61%, Q2 AED 39m +1000% from 2006
- Dubai International Capital restructuring will have assets of Dh 92 bn
- DFM - foreign investment AED 2.5 bn 2007 Q1 says DAMAN - 10 Jul 07
- WARE Agility 2006 FY results late, trading suspended - 15 Mar 07
- SHUAA EGM agenda 05 Aug 07 - foreign ownership and AED 1.5 bn bonds
- TAQA rating upgraded to AA2 by Moody's - 11 July 2007
- TAQA arranges AED 3.7 bn credit with NBAD - 11 July 2007
- CBI Board meeting 11 Jul 2007
- 11 July 2007 UAE financial and stock news continued
- ALDAR shares worth 13.68 - Shuaa report [BUY] - 10 Jul 07
- DIB considering Convertible Sukuk - BOD meeting 11 Jul 07
- DIB 2007 Q2 profit forecasts AED 407m to 473m
- AIRARABIA floats 17 July 2007 - what price?
- ALDAR signs up Aconex for online collaboration tools - PR 10 Jul 07
- EMAAR may sell bonds after receiving Moody's and S&P ratings 11 Jul 07
- AIRARABIA balance sheet from 19 June 2007
- EMAAR (doesn't) clarify Dubai Holding deal? 16 May 2007
- UPP CEO says Dubai property not a bubble - GN 10 Jul 2007
- DU to improve coverage with more base stations - ET 10 Jul 07
- EBI and NBD Boards approve merger terms, trading suspended - 02 Jul 07
- Kuwait MPs want oil reserves disclosed - 48 or 99 bn barrels? R 10 Jul 07
- EMAAR receives A- rating from S&P - PR 10 Jul 07
- EIB Emirates Islamic Bank extends opening hours to 8 pm - PR 10 Jul 07
- NBF 2007 H1 profit +45% to AED 153m
More UAE stock market news and discussions...
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Dubai Financial Market
The DFMGI had a sharp rise on opening to almost 4570 points this morning but fell steadily during the session to close at 4515, down by 0.76% with total traded value of 823m dhs.
A short list of winners today with only Arabtec Holding PJSC (ARTC) up 1.7%, National General Cooling Company PJSC (TABREED) up 1.1%, and Shuaa Capital PJSC (SHUAA) up 0.8% from the actively traded list showing a gain. Although Shuaa traded value was minimal, and lower than one of the less liquid stocks - GGICO up 0.9%.
Out of the active stocks, GULFNAV topped the losers list with a 2.2% fall to 1.35. Dubai Islamic Bank (DIB) lost 1.4%, Dubai Investments PJSC (DIC), DFM, Islamic Arab Insurance Company PSC (IAIC), Union Properties PJSC (UPP) and Emaar Properties PJSC (EMAAR) all dropped by about 1.2% each, the market seemingly unimpressed with Union Properties earnings growth.
Abu Dhabi Securities Market
The ADSM fell by 0.4% to 3690, with total traded value a hefty AED 1.1 billion.
Solid trading and increase for Sorouh Real Estate (SOROUH) up 4% to 4.59 and 373m dhs of trading, and Aldar Properties PJSC (ALDAR) up 2.6% to 7.84 from 211m dhs of trading. Other significant rises for the rarely traded National Marine Dredging Company (NMDC) up 4.8% and Invest Bank (INVESTB) up 1.5%, while there were rises of about 1% or less for the more active ARKAN, Oasis International Leasing Company PJSC (OILC), Aabar Petroleum Investments Company PJSC (AABAR), and First Gulf Bank (FGB).
Despite the impressive gains in the Abu DHabi property developers, the index was dragged down by falls of 1.2% for National Bank of Abu Dhabi (NBAD) and 1.9% for Emirates Telecommunications Company (ETISALAT) with Etisalat relatively actively traded. AGTHIA lost 1.4% and the other more active stocks fell by about 0.5% or less.
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