DFM & ADSM reports

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Wednesday, September 19, 2007

UAE markets 19 Sep 2007

UAE market news & discussions for 19 September 2007

A very positive day on UAE markets today. The DFM index finished up 1.27% on strong trading volume and the ADSM index also finished higher by 0.40% on more modest volume.

The Taqa CEO said foreign ownership of shares may come by 2012 - a few years later than what he said in June. He also said Taqa may seek further listings on foreign markets by then.
Air Arabia shares were said to be about 35% undervalued by a Deutsche Bank report. At current price of about 1.25 dhs/share, Air Arabia shares look to be twice as expensive as the market average based on PE, but cheaper based on Book Value.

The US Fed cut interest rates by 50 basis points (0.5%), surprising some who expected only a 25 point cut, and prompted stockmarket rises around the world. Abu Dhabi Securities Market (ADSM) has launched a new, improved, version of their website at web.adsm.ae.

Dubai Financial Market and Abu Dhabi Securities Market index for 19 September 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
MAZAYA 7.76 +1.01 +15%
ASMAK 5.73 +0.52 +10%
OEIHC 20.30 +1.60 +8.6%
TKFL 4.13 +0.23 +5.9%
NCTH 4.21 +0.19 +4.7%
worst stock falls
symbol price change
ARIG 3.40 -0.13 -3.7%
UNION 1.91 -0.04 -2.1%
AKIC 1.56 -0.03 -1.9%
DRIVE 3.09 -0.05 -1.6%
INVESTB 3.13 -0.03 -0.9%
top volume
symbol value (AED) price
DEYAAR352,126,6651.89
AIRARABIA286,290,0621.26
EMAAR254,728,17710.90
DFM148,774,9763.16
ALDAR125,978,8996.96

Dubai Financial Market

The DFM index finished at 4,244 a rise of 1.27% from the previous close. 550 million shares traded worth 1.2 billion dirhams. Twenty shares advanced and one declined.
The top traded shares were AIRARABIA rising 4.13% to 1.26 dirhams on volume of 229 million shares traded and DEYAAR rising 1.06% to 1.89 dirhams on volume of 186 million shares traded.

Other shares to rise included: DFM 3.16 (2.26%), Dubai Investments PJSC (DIC) 4.46 (0.45%), Emaar Properties PJSC (EMAAR) 10.90 (2.83%) and GULFNAV 1.26 (0.80%).

Arab Insurance Group (ARIG) was the only share to fall, closing at 3.40 dirhams on modest volume.

Abu Dhabi Securities Market

The ADSM index finished at 3,443 a rise of 0.40% from the previous close. 62 million shares traded worth 270 million dirhams. Twenty seven shares advanced and ten declined.
The top traded share was Aldar Properties PJSC (ALDAR) rising 1.46% to 6.96 dirhams on volume of 18 million shares traded.

Other shares to rise included: Dana Gas PJSC (DANA) 1.60 (1.27%), Oasis International Leasing Company PJSC (OILC) 1.72 (0.58%), and Ras Al Khaimah Properties PJSC (RAKPROP) 1.60 (1.27%).

Shares to fall included: Abu Dhabi Islamic Bank (ADIB) 52.25 (0.57%), Union National Bank (UNB) 6.83 (0.29%) and UAB 7.19 (0.14%).

Posted by sharewadi at 16:24

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