DFM & ADSM reports

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Tuesday, October 02, 2007

UAE markets 02 Oct 2007

UAE market news & discussions for 02 October 2007

We're running out of superlatives to describe the performance of Aldar Properties. Blistering will do for today with another volume record and last trades going through 7.4% up from yesterday. The ADSM overall performed well with Sorouh Real Estate also showing solid gains. While in Dubai, the market there shook off yesterday's lethargic effort with Tabreed rocking ahead by 7% and DFM shares also up on big turnover.

Dubai Islamic Bank were rated a BUY in a report from Shuaa, with an estimated 10% upside, they were trading another 1% up today.

Etisalat and Du will remain the only telecom providers in the UAE for the time being according to the Gulf News, but in somewhat contrary news, Dubai World Central are reported to be developing facilities for more telecom operators to enter the UAE.

Emaar Properties announced the establishment of a University of Arts for the Middle East and North Africa region, and a disclosure appeared from Emaar saying they weren't borrowing money in Morocco, in contrast to last week's media reports that they were.

Taqa Energy have big growth plans, with a forecasted AED 220 billion worth of investment in global energy resources, making the amount from their CMS Energy sale reported yesterday, look like petty cash.

Dubai Financial Market and Abu Dhabi Securities Market index for 02 October 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
GRAND 4.30 +0.56 +15%
ADSB 3.60 +0.29 +8.8%
AWNIC 5.88 +0.47 +8.7%
GFH 8.80 +0.58 +7.1%
TABREED 2.59 +0.17 +7%
worst stock falls
symbol price change
ABNIC 7.65 -0.82 -9.7%
OEIHC 19.05 -0.95 -4.8%
INVESTB 3.35 -0.15 -4.3%
NCC 9.75 -0.35 -3.5%
UNB 6.86 -0.12 -1.7%
top volume
symbol value (AED) price
ALDAR801,132,6308.71
DFM484,560,2843.28
SOROUH357,835,4255.06
DEYAAR239,171,4941.88
AIRARABIA165,837,5481.38

Dubai Financial Market

The DFMGI had a tough job matching ADSM's agreeable performance today, but nevertheless was not too shabby with a 1% rise to 4288 from an energetic 1.67 billion dhs of turnover.

DFM shares were at the top of the traded value table with AED 484m of turnover and a 4.1% rise. Other strong performances for National General Cooling Company PJSC (TABREED) with an inspiring 7.1% increase to 2.59, Amlak Finance Company (AMLAK) up 3.4%, Union Properties PJSC (UPP) up 2.8%, Arabtec Holding PJSC (ARTC) up 2.6%, Tamweel PJSC (TAMWEEL) up 2.4%, and AIRARABIA up 2.2%. GRAND was limit up from just 2 small trades but there were no sellers in the queue. Emaar Properties PJSC (EMAAR) could only manage a 0.5% increase to 10.65 from low volumes.

A short list of only 4 losers again today. ALMADINA lost 1%, and NDB down 0.9% from a single large trade of 1 million shares at 9.00.

Abu Dhabi Securities Market

ADSM was up by 1.2% to 3656 from a resounding AED 1.7 billion worth of trades, yet again ahead of the Dubai market. Half of that a massive 800m dhs of trading in Aldar Properties PJSC (ALDAR) with average price up 5.5% for the day.

Abu Dhabi Ship Building (ADSB) saw greater than usual trading and an 8.8% jump to 3.55. Other gains on solid turnover for Sorouh Real Estate (SOROUH) up 4.1% to 5.08, Dana Gas PJSC (DANA) up 3.1% to 1.67, First Gulf Bank (FGB) up 2.7% to 16.00, and Oasis International Leasing Company PJSC (OILC) up 1.6% to 1.87. Emirates Telecommunications Company (ETISALAT) rose 0.8% to 18.50 on moderately low trading.

Losers today on activity of more than 1m dhs by value included Union National Bank (UNB) down 1.7%, Ras Al Khaimah Cement Company (RAKCC) down 0.5% and Abu Dhabi Islamic Bank (ADIB) with a small fall of 0.2%.

Posted by sharewadi at 15:11

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