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

Thursday, October 04, 2007

UAE markets 04 Oct 2007

UAE market news & discussions for 04 October 2007

The Dubai stock market saw a steady gain today while Abu Dhabi fell slightly but all in all, it was a solid week for the UAE markets with the DFMGI up about 3.5% and the ADSM index up almost 4%.

Aabar Petroleum took on a greater stake in a Philippines exploration venture. Dubai World was reported to be considering an IPO ... again. EFG-Hermes released a preview of 2007 Q3 results, forecasting good year on year growth for several stocks including ADIB, DIB, ARMX, RAKCEC, UPP.

ESCA suspended more brokers from 07 October for varying periods but specific reasons were not disclosed.

Dubai Financial Market and Abu Dhabi Securities Market index for 04 October 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
MAZAYA 9.99 +0.99 +11%
OEIHC 20.95 +1.90 +10%
ASMAK 5.54 +0.38 +7.4%
FH 6.78 +0.38 +5.9%
EIC 8.45 +0.45 +5.6%
worst stock falls
symbol price change
IIG 5.30 -0.80 -13.1%
IFA 11.00 -1.50 -12%
NBF 4.35 -0.30 -6.5%
AABAR 3.75 -0.11 -2.8%
RAKCEC 5.70 -0.10 -1.7%
top volume
symbol value (AED) price
EMAAR458,184,95911.00
ALDAR452,234,4228.69
AIRARABIA398,624,1901.46
DEYAAR227,218,3221.91
DFM128,647,9753.35

Dubai Financial Market

It was Dubai's turn in the limelight today with a solid 1.7% increase to 4378 and a healthy 1.8 bn dhs of trading. Emaar Properties PJSC (EMAAR) had the top traded value spot with AED 458m dhs of turnover and an encouraging 2.3% rise. It was one of the "buy" recommendations in a Goldman Sachs report this week.

AIRARABIA was the real star today though, a splendid 5% rise to 1.46 and almost AED 400m turnover. Solid gains also for Union Properties PJSC (UPP) up 3.4%, Tamweel PJSC (TAMWEEL) up 3.2%, and Amlak Finance Company (AMLAK) up 2.8%. Aramex PJSC (ARMX), DFM, Arabtec Holding PJSC (ARTC), DEYAAR, and Dubai Investments PJSC (DIC) all rose between 1.5% and 2%, and Dubai Islamic Bank (DIB) saw a 1.3% increase.

Only three stocks fell, all on limited turnover.

Abu Dhabi Securities Market

The Abu Dhabi index fell slightly by 0.08% to 3658 points with turnover a moderate AED 683m. 17 stocks rose, 23 fell and 4 were unchanged. About two-thirds of the turnover was in Aldar Properties PJSC (ALDAR) which closed 0.6% down at 8.75. Sorouh Real Estate (SOROUH) also fell by 0.6% to 4.89 and was in a distant second place with AED 59m worth of trades.

The top 5 rises were all on thin trading with total turnover for that group not even reaching 0.5m dhs. ADNH stood out with a 4.6% rise to 6.45 on reasonable volumes, NBQ also busier than usual and a 1.8% rise to 5.10. Ras Al Khaimah Properties PJSC (RAKPROP), NBS, and Emirates Telecommunications Company (ETISALAT) had small gains of less than 1% each on turnover of more than AED 1m dhs.

Aabar Petroleum Investments Company PJSC (AABAR) had a dismal day after good gains earlier in the week, falling by 2.9% to 3.74 from 32m dhs worth of deals. AGTHIA and Abu Dhabi National Company for Building Materials (BILDCO) each fell by 1.6%, Bank Of Sharjah (BOS) lost 1.3% and ARKAN was down by 1.2%. The remaining actively traded stocks were down by less than 1% each.

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