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

Thursday, July 26, 2007

UAE markets 26 Jul 2007

UAE market news & discussions for 26 July 2007

The end of an unimpressive week on the UAE markets with the DFM creeping up a little today while ADSM dropped another half a percent.

Tabreed National Cooling released Q2 results today with almost no growth in profits, leaving their shares looking about 3 times more expensive than the market average. Results for Abu Dhabi National Company for Building Materials showed profits decreasing substantially from increasing costs despite revenue growth, leaving their shares looking not as expensive as Tabreed's but still above the market average. Fujairah Trade Center and Emirates Driving Company also released second quarter results.

Perhaps it wasn't the day for good results, ExxonMobil surprised analysts today with a slight drop in profits despite higher oil prices. But before you feel too sorry for them, they still made $10.3 billion profit for the quarter. Which is more than the total profits for all listed UAE companies last year. The whole year.

Dubai Financial Market and Abu Dhabi Securities Market index for 26 July 2007

best stock rises
symbol price change
UNION 2.29 +0.15 +7%
ARIG 3.08 +0.18 +6.2%
RAKCC 2.37 +0.10 +4.4%
QTEL 253.00 +8.00 +3.3%
UNB 7.78 +0.23 +3%
worst stock falls
symbol price change
ABNIC 7.20 -0.79 -9.9%
RAKCEC 4.75 -0.25 -5%
FH 7.60 -0.30 -3.8%
INVESTB 2.84 -0.10 -3.4%
ALDAR 7.28 -0.22 -2.9%
top volume
symbol value (AED) price
ALDAR80,093,5377.28
AIRARABIA73,138,9721.10
EMAAR67,652,39211.15
RAKCC50,488,0342.37
DIB23,526,88310.05

Dubai Financial Market

The DFM had a small recovery from a mostly gloomy week but on thin traded value of 280m dhs from 114m shares. The index was up by 0.24% to 4332.

AIRARABIA continues to dominate trading by volume, and today by value with 73m dhs worth but price unchanged at 1.10 dhs. Emaar Properties PJSC (EMAAR) was in second spot on traded value with 68m dhs and price also unchanged at 11.15.

The only noteworthy rise was 2.2% to 26.05 for AMAN while most other actively traded stocks rose by less than 1%. Arab Insurance Group (ARIG) jumped on just 2 small trades.

There were just four losers, all down by about 1% or less - GGICO, GULFNAV, Amlak Finance Company (AMLAK), and Arabtec Holding PJSC (ARTC).

Abu Dhabi Securities Market

ADSM slumped yet again today with a 0.45% decrease to 3574 from a moderately thin 250m dhs worth of trading.

A storming day for Ras Al Khaimah Cement Company (RAKCC) however, with a 4.4% increase to 2.33 from a very robust 50m dhs worth of trading and 21m shares putting it at the top of the volume list. Other increases on reasonable volumes for Union National Bank (UNB) up 3.1%, and Gulf Cement Company (GCEM) up 1.3%.

Aldar Properties PJSC (ALDAR) saw the highest traded value, falling by 2.9% to 7.26 from 80m dhs worth. Oasis International Leasing Company PJSC (OILC) less hectic than previous days and a 0.7% fall to 1.47. Sharjah Cement & Industrial Development Company (SCIDC), and Abu Dhabi Commercial Bank (ADCB) fell about 2% from reasonable volumes. Aabar Petroleum Investments Company PJSC (AABAR), Ras Al Khaimah White Cement Company (RAKWCT), Dana Gas PJSC (DANA), ARKAN, National Bank of Abu Dhabi (NBAD) and Abu Dhabi National Energy Company (TAQA) all fell 1-1.5%.

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