UAE market news & discussions for 18 July 2007Another glum day on the markets with DFM and ADSM indices heading south by almost 1.5%. DIFX scored another new listing today - Sphere Investments of Australia. Activity was less frenetic than Air Arabia's listing on DFM yesterday, with no shares traded in SPH. |
- 18 July 2007 UAE financial and stockmarket news
- 2007 Q2 results for DFM and ADSM companies
- ADCB 2007 profit Q2 AED 506m -12%, H1 AED 976m -19% from 2006
- AIRARABIA floats 17 July 2007 - what price?
- ARMX - Aramex logistics center launched in Beirut free zone - 18 Jul 07
- BOS 2007 profit Q2 AED 110m +63%, H1 AED 153m +22% from 2006
- EFG-Hermes Brokerage discussion and information
- EMAAR (doesn't) clarify Dubai Holding deal? 16 May 2007
- OILC 2007 profit Q2 AED 33m +186%, H1 AED 61m +149% from 2006
- SPH - Sphere Investments
- 17 July 2007 UAE financial and stockmarket news
More UAE stock market news and discussions...
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Dubai Financial Market
The DFMGI kicked off trading at about 4420 and fell steadily to about 4350 by lunchtime. The index hovered around that level for the remainder of the day, ending down by 1.34% to 4360 with moderate traded value of 824m dhs from 264m shares.
There was a very short list of zero gainers on DFM today.
Near the bottom of the loser's list were DFM down by 2.8% to 3.14, Emaar Properties PJSC (EMAAR) down 2.6% to 11.25, Amlak Finance Company (AMLAK) down 2.6% to 3.43, and Islamic Arab Insurance Company PSC (IAIC) down 3.2% to 2.4. AIRARABIA volumes were down to 140m shares - less than a quarter of yesterday's volume, share price was flat at 1.11.
Abu Dhabi Securities Market
The ADSM lost an unpleasant 1.5% to close at 3620 from moderate traded value of 410m dhs and volume of 154m shares.
Almost all the normally active stocks fell, with Sudan Telecom Company Ltd (SUDATEL) up by a marginal 0.1% the only exception. Other rises from infrequently traded stocks of 0.3% for UAB with several large trades going through, SICO up 2.2% also with some big trades, Bank Of Sharjah (BOS) up 1.2%, Finance House PJSC (FH) up 2.1%, and Invest Bank (INVESTB) up 2.2% from a handful of small trades after announcing positive Q2 results yesterday.
The worst of the losers on more than trivial volumes were Ras Al Khaimah Properties PJSC (RAKPROP) down 3.5% to 1.63, Aabar Petroleum Investments Company PJSC (AABAR) down 3.1%, and Oasis International Leasing Company PJSC (OILC) down 2.7% despite encouraging results today. Emirates Telecommunications Company (ETISALAT) dropped by 2.4% to 18.40. Abu Dhabi National Energy Company (TAQA) was the most heavily traded stock with 27m shares changing hands or 81m dhs worth, and a fall of 1.6% to 2.95.
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