DFM & ADSM reports

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

Thursday, November 22, 2007

UAE markets 22 Nov 2007

UAE market news & discussions for 22 November 2007

Both the ADSM and DFM fell today with Aldar Properties heavily traded in Abu Dhabi as more shares were issued, and Deyaar, DFM, and Emaar dominating trading in Dubai while suffering losses.

RAK Airways, almost forgotten after a series of launch delays, started selling tickets today for its first flight to Beirut on the 29th of this month. There was no mention of a previously rumoured IPO. And Emirates Airlines denied yesterday's news of an IPO in early 2008.

However, DIFCWeek speakers said more IPOs were forecast for the region next year after the 15x oversubscription of the DP World IPO, and the 41x oversubscription of Egypt's Talaat Mustafa Group IPO this week.

Emaar released disclosures clarifying last week's report about the Jeddah Hills project, saying it was still going on. And Emirates NBD issued a clarification denying the report of a London listing for their bond issue.

Aldar Properties outstanding shares increased by 45m (a 2.3% dilution) from Sukuk conversion (Monday's notification) and a notification was issued today for another 148m shares to be added (a further 7.5% dilution). Aldar shares fell 2.9% today. Dana Gas opened a new office in Kurdistan, their shares were down 0.5%.

Dubai Financial Market and Abu Dhabi Securities Market index for 22 November 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
TKFL 4.95 +0.40 +8.8%
OEIHC 29.65 +2.05 +7.4%
FBICO 2.53 +0.12 +5%
ADSB 4.75 +0.14 +3%
FOODCO 4.15 +0.11 +2.7%
worst stock falls
symbol price change
WARE 20.00 -3.50 -14.9%
ADNH 7.77 -0.69 -8.2%
ALFIRDOUS 2.30 -0.20 -8%
FGB 20.10 -1.25 -5.9%
ASCANA 3.26 -0.17 -5%
top volume
symbol value (AED) price
DEYAAR627,786,0932.80
EMAAR489,060,74913.05
DFM466,066,2966.40
ALDAR276,725,7469.71
AIRARABIA178,227,5871.82

Dubai Financial Market

The DFMGI had an 1.15% fall to 5374 points from moderate turnover of AED 2.3 billion. Shuaa Capital (SHUAA) was the only normally actively traded stock to show an increase, of just 0.8%, but that was on very limited trading of only AED 1m worth. Stocks that are normally less liquid saw greater turnover with increases for Global Investment House (GLOBAL) up 1.7%, and less than 1% increases for Emirates NBD (ENBD), Commercial Bank of Dubai (CBD), and AMAN. GGICO was the only other stock to rise, by 2.7% on very low trading levels.

Losers on turnover of more than AED 1m included DFM down 3% to 6.40, Dubai Islamic Bank (DIB) down 2.9% to 10.05, Emaar Properties (EMAAR) down 2.3% to 13.05, and AIRABIA and Union Properties (UPP) both falling 2.15%. Others fell less than 2% or on limited turnover.

Abu Dhabi Securities Market

The ADSM slumped 2% to 4165 points from turnover down to AED 726m with Aldar Properties (ALDAR) the only stock to trade more than 100m dhs worth. It fell 2.9% to 9.75.

Out of the 11 stocks to rise, none traded more than 1m dhs worth. Bank Of Sharjah (BOS) had the highest turnover, at 692,000 dhs, of the stocks increasing, and rose by just 0.3% to 3.08. TKFL had the highest rise on just 191,000 dhs from 8 trades.

Losers trading more than 1m dhs were ADNH plummeting 8.2% to 7.71, First Gulf Bank (FGB) lurching by 5.9% to 20.00, National Bank of Abu Dhabi (NBAD) down 3%, Oasis Leasing (OILC) and Abu Dhabi Commercial Bank (ADCB) down 2.8%, and AGTHIA down by 2%. Etisalat (ETISALAT) fell 1.8% to 21.25 on moderate trading levels.

Posted by sharewadi at 16:46

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