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

Sunday, November 25, 2007

UAE markets 25 Nov 2007

UAE market news & discussions for 25 November 2007

Both the ADSM and DFM had gains of about half a percent on lower volumes today. National Corporation for Hotels and Tourism (NCTH) and First Gulf Bank (FGB) in Abu Dhabi stood out with 5% and 4% gains respectively on active trading. First Gulf Bank were given a fair value rating of 20.20 dhs per share in a report from The National Investor.

The Dubai Investments chairman forecast AED 1.3 billion profit for 2007, DIC shares rose 1.5% today. Shuaa Capital received approval to start its Saudi brokerage operations. There was net foreign investment on the DFM last week, not much, but better than net sales the week before. Tamweel announced a deal with Bonyan Real Estate (not listed) for AED 2 bn of land in Dubai. Tamweel shares rose 0.5%. Emirates Airlines forecast 2007 profits to double.

Some DP World IPO institutional subscribers had an unpleasant surprise when they discovered they were allotted no shares at all. Further news has been limited but there are reports that it was Deutsche Bank, Merrill Lynch, and Rasmala clients who missed out. We don't know what to say. But then apparently, neither does DP World - we've not seen any official comment. It does somewhat dampen the excitement of the listing of DP World on the DIFX tomorrow. Don't forget to add your best estimate to the forum poll for the closing price on the first day.

Dubai Financial Market and Abu Dhabi Securities Market index for 25 November 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
TKFL 5.42 +0.49 +9.9%
ABNIC 9.00 +0.63 +7.5%
FBICO 2.69 +0.16 +6.3%
NCTH 7.00 +0.36 +5.4%
NCC 9.81 +0.46 +4.9%
worst stock falls
symbol price change
OEIHC 29.20 -2.95 -9.2%
ADSB 4.50 -0.25 -5.3%
AKIC 1.53 -0.08 -5%
DIN 32.05 -1.65 -4.9%
INVESTB 3.31 -0.17 -4.9%
top volume
symbol value (AED) price
DEYAAR495,364,0592.83
DFM389,708,3076.50
EMAAR277,841,16912.95
AIRARABIA197,090,1681.85
GULFNAV109,890,7401.64

Dubai Financial Market

The DFMGI was up 0.59% to 5405 points from moderate turnover of AED 1.75 billion. The top three shares on value traded were the usual DEYAAR up 1.1%, DFM up 1.6%, and Emaar Properties (EMAAR) down 0.8%.

Arabtec (ARTC) was the top gainer on turnover greater than AED 1m dhs, with a 3.1% rise to 8.06. Other rises from Aramex (ARMX) up 2.5%, Tabreed (TABREED) up 2.3%, AMAN up 1.8%, Du Telecom (DU), AIRARABIA, Amlak Finance (AMLAK) all up about 1.65%, Islamic Arab Insurance (IAIC) up 1.6% and the rest of the gainers up less than 1.5%.

Only 5 losers today with only 2 trading more than AED 1m dhs worth. Emirates NBD (ENBD) down just 0.4%, and Emaar.

Abu Dhabi Securities Market

The ADSMI rose 0.5% from subdued turnover of AED 458m to close at 4186 points. ARKAN topped the traded value table with a 3.1% rise to 3.08, First Gulf Bank (FGB) was in second place with a 4.2% gain to 21.00.

Surprisingly high turnover from NCTH which rose 5.4% to close at 7.00. Other gains of note for TKFL up 9.5% to 5.44 and no sellers in the queue, Commercial Bank International (CBI) up 3.8% to 3.02, and NBS up 3.1%.

Union Cement (UCC) was the worst of the losers trading more than AED 1m dhs, with a 3.4% fall to 4.05. Aabar Petroleum (AABAR) fell 2.1%, National Bank of Abu Dhabi (NBAD) down 2%, Oasis Leasing (OILC) down 1.6%, Sorouh Real Estate (SOROUH) down 1.2%, and a handful of others fell less than 1% or on low volumes.

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