UAE market news & discussions for 20 August 2007Both UAE markets got off to an encouraging start this morning but ended up down for the day on low volumes, while world markets have shown solid increases so far today. The respective heads of Borse Dubai and Nasdaq both said their offers for OMX were more attractive, and criticised the other offer. |
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- 20 Aug 2007 financial and business news in the UAE
- AABAR general assembly meeting 19 Aug 2007 - Dalma sale?
- AIRARABIA added to DFMGI and Transport Index - 20 Aug 07
- Al Qudra planning investment in Mauritiana - R 20 Aug 2007
- ASNIC - clarification regarding fire incident - 20 Aug 2007
- Borse Dubai chief says OMX bid more attractive than Nasdaq's -R 20 Aug 07
- Borse Dubai bid less attractive than Nasdaq's says OMX chief - R 20 Aug 07
- Borse Dubai board seat may be offered if OMX bid wins - FT 20 Aug 07
- DFM summary of 2007 Q2 company results - where is it? PR 19 Aug 07
- EMAAR - Boulevard Apartments and Tower 2 at Burj Dubai - PR 20 Aug 07
- EMAAR Misr showcases Marassi - PR 20 Aug 2007
- MEED Dubai Real Estate Report 2007
- NASDAQ to sell its 31% stake in London Stock Exchange - R 20 Aug 07
- NBAD appoints Al Khouri as head of Elite Banking - PR 20 Aug 2007
- UAE Insurance Sector report from Ministry of Economy? 20 Aug 07
- RAKCEC - partnership (again?) with RAKIA - 19 Aug 2007
- August 2007 top stock picks by Fundamental Analysis
- Stock Picks by Technical Analysis August 2007
More UAE stock market news and discussions...
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Dubai Financial Market
The DFMGI fell almost 0.5% to 4122 with turnover a moderate 581m dhs. Emaar Properties PJSC (EMAAR) was the top traded stock by volume with 208m dhs worth of trading and a 0.5% fall to 10.25.
Not much in the way of good news today, although Arab Insurance Group (ARIG) stood out with a 2.9% rise to 3.20 from more than usual trading. Shuaa Capital PJSC (SHUAA) up 1% and National General Cooling Company PJSC (TABREED) up 0.4% were the only stocks from the actively traded list showing an increase.
DFM shares were the worst performing today, out of the active stocks list, down by 1.75% to 2.81. AMAN and Dubai Islamic Bank (DIB) fell about 1.5% and the remainder fell less than 1%, except for AIRARABIA, GULFNAV and Union Properties PJSC (UPP) which were unchanged.
Abu Dhabi Securities Market
ADSM fell by just 0.15% to 3401 points from a lowish turnover of 248m dhs. Trading once again overwhelmingly dominated by Oasis International Leasing Company PJSC (OILC) with 103m dhs of turnover and a 1.7% fall to 1.69.
Rises of note for NBS up 3.2% to 2.95 and Bank Of Sharjah (BOS) up 3.1% to 2.95. Emirates Telecommunications Company (ETISALAT) was up 0.9% and the remainder rose less than 1% or on low volumes.
A bad day for TKFL which plummeted 9.5% to 4.65 from greater than usual trading, probably limited by the lack of interested buyers. There were nasty hits of 6.6% for National Marine Dredging Company (NMDC) and 3.8% for DRIVE. Union National Bank (UNB) didn't look too healthy either, down by 2% to 7.21. Ras Al Khaimah Cement Company (RAKCC), Abu Dhabi Commercial Bank (ADCB), Aldar Properties PJSC (ALDAR), Aabar Petroleum Investments Company PJSC (AABAR) and AGTHIA all fell by a little over 1% and the remaining stocks fell less than 1% or on turnover less than 1m dhs.
- Discuss UAE companies at Dubai Share Talk.
