UAE market news & discussions for 11 November 2007The DFM fell another 1.35% on reduced volumes today while the ADSM crept up by 0.2% with Arkan building materials continuing to soar - up by another 5.8% on heavy trading. DFM trading last week saw AED 300m net investment by foreigners but that was less than a fifth of the net amount for the previous week. |
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Dubai Financial Market
The DFMGI plummeted in early trading by 100 points, recovered somewhat but then fell again to end up 1.35% down for that day at 5367 points. Turnover was somewhat lower than some of the big days last week, at a still solid AED 2.6 billion worth.
DEYAAR saw the highest traded value of AED 750m but price remained unchanged at 2.72. Tamweel (TAMWEEL) had AED 550m of turnover and a 1.6% rise to 7.43.
There were only 4 other gainers today, AMAN up 3.8%, Arabtec (ARTC) up 2.9%, ALFIRDOUS up 1.7%, and GULFNAV up just 0.6%.
Notable losers included Shuaa Capital (SHUAA) down 5.6% to 6.11, Tabreed (TABREED) down 3.1% to 3.09, DFM and Union Properties (UPP) down 2.7% each, Amlak Finance (AMLAK) down 2.4% and Dubai Investments (DIC) down 2.3%. Emaar Properties (EMAAR) fell 1.85% to 13.30 on mild trading volume of AED 233m worth.
Abu Dhabi Securities Market
The ADSM index rose 0.22% to 4223 points from turnover of AED 1.8 billion with trading heavily dominated by the AED 890m worth of ARKAN shares, which ended the day a resounding 5.8% up at 3.43. Arkan shares have almost doubled in value since the beginning of October this year.
Other rises of more than 2% on turnover exceeding AED 1m for AGTHIA up 5.3% to 2.24, RAK Cement (RAKCC) up 3.8%, RAK Properties (RAKPROP) up 2.9%, Dana Gas (DANA) up 2.4% and ADNH up 2.1%. Etisalat (ETISALAT) rose 0.7% to 21.05.
Another nasty fall for Oasis Leasing (OILC) down 4.4% to 2.64 was the worst of the more active stocks today. Abu Dhabi Commercial Bank (ADCB) fell 1.1% and Union National Bank (UNB) fell 1% with the remainder falling less than 1% or on limited turnover.
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