UAE market news & discussions for 19 August 2007The week kicks off on a sour note with both UAE markets falling on moderate trading volumes, despite the US stock markets ending last week on an encouraging note. Oasis Leasing stood out today with a decent rise and making it to the top of the traded value charts, ahead of Emaar which tanked again and is getting uncomfortably close to that cliff edge of 10 dhs per share. At the other end of the volume scale, we saw Al Ain Ahlia Insurance Company going almost limit up with a single trade of just 3 shares. |
- 19 Aug 2007 UAE financial and business news
- 2007 Q2 results for DFM and ADSM companies
- ADCB ALDAR SOROUH Mubadala JV to expand across UAE - R 19 Aug 07
- AIRARABIA floats 17 July 2007 - what price?
- AMLAK [SELL] & TAMWEEL [NEUTRAL] research from Shuaa 16 Aug 07
- Borse Dubai bid for OMX - summary of offers and key players R 17 Aug 07
- Borse Dubai announces AED 14.5 bn bid for OMX - 17 Aug 2007
- DANA 2007 H1 profit AED 50m -50%, 2007 Q2 profit AED 29m -41%
- DFM summary of 2007 Q2 company results - where is it? PR 19 Aug 07
- DFM net stocks sold last week by foreigners AED 0.66 bn - PR 17 Aug 07
- EMAAR Syria completes Sales Center for Eighth Gate - PR 18 Aug 2007
- GGICO clarification regarding fire incident - 19 Aug 2007
- NASDAQ CEO Greifeld to meet OMX stakeholders in Sweden R 17 Aug 07
- NASDAQ prepares for fight with Borse Dubai over OMX stake - FT 17 Aug 07
- NASDAQ message to OMX shareholders - PR 17 Aug 2007
- Qatar Telecom to consolidate Asiacell Cayman assets - R 18 Aug 2007
- QTEL - Asiacell consortium wins Iraq GSM licence - GT 18 Aug 07
- RAKCEC - partnership (again?) with RAKIA - 19 Aug 2007
- Rasmala report for July 2007 says GCC markets doing well
- Subprime crisis, Implications for UAE Markets
- UAB - to sell stake to Commercial Bank of Qatar (CBQ) - R 16 Aug 07
More UAE stock market news and discussions...
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Dubai Financial Market
It was an unpleasant day for the DFMGI with a drop of 1.35%, closing at 4141 points from turnover of 860m dhs.
Only two stocks rose today, Arabtec Holding PJSC (ARTC) up 1.2% to 5.82 and Shuaa Capital PJSC (SHUAA) up 0.2% to 5.00. Both on thin trading.
Of the stocks trading significant volumes, Amlak Finance Company (AMLAK) was the hardest hit, down by 3.4% to 3.10, with Tamweel PJSC (TAMWEEL) a little way behind, dropping by 2.25% to 3.91. It looks like a few people were reading that Shuaa report over the weekend.
Emaar Properties PJSC (EMAAR) dropped 1.9% to 10.30 from 329m dhs worth of trading, while Dubai Islamic Bank (DIB) and Union Properties PJSC (UPP) were also down about 2%. National General Cooling Company PJSC (TABREED), Dubai Investments PJSC (DIC), GULFNAV and Emirates Bank International Group (EBI) all fell about 1.5% with the remaining stocks falling by less than 1%.
Abu Dhabi Securities Market
ADSM also suffered today but less badly than DFM, yet again. The index lost 0.89% to close at 3407 with a fairly decent turnover of 671m dhs. However, over half of that was from trading in Oasis International Leasing Company PJSC (OILC) shares which closed 3% up at 1.73.
Bank Of Sharjah (BOS) stood out in the gainers list today with a 5.1% rise to 2.95 from relatively busy trading, which means their shares are up almost 20% since the beginning of this month. Other rises of 1.1% for Abu Dhabi Commercial Bank (ADCB), 0.6% for ARKAN, and the remaining gainers were up by less than 1% or on very low volumes.
The biggest drop on any sort of reasonable turnover was Aldar Properties PJSC (ALDAR), shedding 2.1% to close at 6.43. Abu Dhabi Islamic Bank (ADIB) and Emirates Telecommunications Company (ETISALAT) lost close to 2% each while National Bank of Abu Dhabi (NBAD), First Gulf Bank (FGB) and Sorouh Real Estate (SOROUH) were down about 1.5% each. Other stocks lost about 1% or less, or traded less than a million dhs worth of shares.
- Discuss UAE companies at Dubai Share Talk.