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

Thursday, September 27, 2007

UAE markets 27 Sep 2007

UAE market news & discussions for 27 September 2007

The spotlight was on ADSM today which, unusually, saw much greater trading value than DFM. Aldar Properties returned to the top of the value traded list, no doubt helped by the news of a Warner Bros development on Yas Island which prompted a better than 1% rise. RAK Cement was the star though on trading levels well in excess of its usual daily average, and a 4% increase.

The Gulf News reports that up to 40 UAE brokerages could face penalties from the market regulator, ESCA for not complying with new regulations on increased capital requirements.

Emaar's associate company in India, Emaar MGF filed their IPO document with the Indian stock market authority. Emaar share in Dubai went nowhere on very low volumes.

Depa United Group, based in Dubai, said they were planning an IPO for early 2008 but sounded like they were seeking a listing outside the UAE.

Borse Dubai & Nasdaq are close to having a 50% stake in the OMX after increasing their offer to SKR 265 per share. The Swedish regulator said that Nasdaq satisfied their requirements to be an owner of a share of the OMX. Borse Dubai was not mentioned.

Emirates Airline once again denied rumours that it was bidding for another airline - this time Italy's Alitalia, after reports emeerged that EK was interested in a 5% stake.

Both Saudi and the UAE said their US dollar pegs would remain, after speculation this week that the currencies might revalue. Which in a way, doesn't contradict the speculation.

Dubai Financial Market and Abu Dhabi Securities Market index for 27 September 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
MAZAYA 9.00 +0.40 +4.7%
RAKCC 2.16 +0.08 +3.8%
FH 6.51 +0.20 +3.2%
CBI 2.75 +0.07 +2.6%
AIRARABIA 1.34 +0.03 +2.3%
worst stock falls
symbol price change
GRAND 3.74 -0.66 -15%
NBF 4.41 -0.48 -9.8%
ARIG 3.42 -0.18 -5%
QTEL 221.70 -7.30 -3.2%
UNION 2.06 -0.06 -2.8%
top volume
symbol value (AED) price
ALDAR151,717,7887.48
AIRARABIA147,611,4381.34
OILC142,406,5611.84
RAKCC103,223,3352.16
EMAAR45,699,72410.70

Dubai Financial Market

The DFMGI had a small rise of 0.2% to 4231 from low turnover of AED 365m, with only 4 stocks showing a loss.

AIRARABIA was at the top of the traded value list with AED 148m dhs worth of deals and a decent 2.3% rise to 1.34. Aramex PJSC (ARMX) rose 1.2% while most of the actively traded stocks rose less than 1% or closed flat for the day including Emaar Properties PJSC (EMAAR) at 10.70 and very low turnover.

GRAND was limit down on just one trade while Arabtec Holding PJSC (ARTC) was the only actively traded stock to show a loss, of 1.1% closing at 6.18.

Abu Dhabi Securities Market

The ADSM index fell by 0.17% to 3521 points from 562m dhs of trading, despite rises on solid trading in Ras Al Khaimah Cement Company (RAKCC) up 3.9% to 2.15, Aldar Properties PJSC (ALDAR) up 1.2% to 7.47, and Oasis International Leasing Company PJSC (OILC) up 1.7%.

Other rises for Finance House PJSC (FH) up 3.2%, Commercial Bank International (CBI) up 2.6% to 2.70 again with busy turnover, Abu Dhabi Commercial Bank (ADCB) up 1.3% and AGTHIA up 1.1%.

A bad fall for NBF losing 9.8% to close at 4.41 with greater than usual turnover but still only 1.7m dhs worth. Other decreases for Qatar Telecom (QTEL) down 3.2%, UAB down 2.2%, and Dana Gas PJSC (DANA) down 1.2%. Emirates Telecommunications Company (ETISALAT) and National Bank of Abu Dhabi (NBAD) were both down 0.3%, the likely candidates for dragging the index down due to their large market caps.

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