UAE market news & discussions for 18 November 2007Both UAE markets started of the week with a solid rise and a good level of trading activity with Aldar, Sorouh, and Oasis Leasing leading the way in Abu Dhabi, while Union Properties and Emaar helped the property sector along in Dubai. DFM's own shares continued their apparently relentless rise on heavy trading once again. |
2007 Q3 financial accounts updated
Company account summaries for 2007 Q3 can now be viewed on ShareWadi.com in all GCC currencies, as well as USD, GBP, EGP, and EUR.
- Gulf Petroleum Industries may have released third quarter statements (not found).
- National Real Estate (NRE) released full accounts today (not reviewed).
- Oman & Emirates Investment Holding Company (OEIHC) released full accounts with one of the better directors' reports we've seen.
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More UAE stock market news and discussions...
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Dubai Financial Market
The DFMGI saw a promising 1.25% rise from sturdy turnover of AED 3.28 bn to close at 5694, after almost hitting an intra-day peak of 7750.
DFM shares topped the turnover table with AED 812 bn of trading while increasing 2.3% to 7.05, and Emaar Properties (EMAAR) was not far behind with AED 704m dhs of trading and a 1.8% rise. But it was Union Properties (UPP) with the best rise (out of stocks trading more than AED 1m), heading up by 4.3% to close at 4.33. Shuaa Capital (SHUAA) also looking good with a 4% rise to 6.50. Dubai Islamic Bank (DIB) rose 2.3% and the remaining traded stocks were up less than 2% or on low turnover.
Only 2 stocks fell today, Arabtec (ARTC) standing out with a 2.8% fall to 7.97 but limited turnover, and AMAN down 1.15%.
Abu Dhabi Securities Market
The ADSM rose almost 1% to 4242 points from a solid AED 2.4 billion of turnover. Top traded stocks and share price increases were Sorouh Real Estate (SOROUH) up 5.9% to 7.00 from 371m dhs of turnover, Aldar Properties (ALDAR) up 5.7% to 11.00 and 790m dhs, Oasis Leasing (OILC) up 5.1% to 2.66 and AED 350m dhs.
UNION insurance topped the gainers list (ignoring stocks trading less than 1m dhs worth) with a surprisingly busy day and a 7.3% rise to 2.56. Other increases for RAK Properties (RAKPROP) and Commercial Bank International (CBI) up 3.7%, First Gulf Bank (FGB) up 3.6% and RAK White Cement (RAKWCT) up 2.3%. The remaining increases were less than 2%.
Union Cement (UCC) stood out amongst the losers with a 5.35% fall to 4.01 and a relatively busy 4.65m dhs of trading. NBF was limit down but saw just 2 trades. ARKAN was the next worst loser on active trading with a 2.2% fall, Finance House (FH) fell 2%, and another 7 stocks fell less than 1%. Etisalat (ETISALAT) was down just 0.24% to 20.50.
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