UAE market news & discussions for 12 December 2007Most of the busier stocks on the DFM fell, some by up to 3%, while on the ADSM most of the more actively traded stocks changed by less than 1%, with more gainers than losers. ENBD was about the only stock to stand out today, with its 5% gain. On the DIFX, DP World fell slightly to $1.25 on thinner trading, and Fortune Management was the only other stock to trade with just a single deal going through and a small fall in price to $0.80. |
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- 11 December 2007 shares and financial news for DFM and ADSM
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Dubai Financial Market
The DFMGI got off to a wobbly start but almost made it to 5850 points by lunchtime before falling away again, ending the trading session at 5773, down just 3 points, or 0.05% from yesterday although most actively traded stocks fell 1-3%. This was not obvious looking at the index change due to a solid 5% gain to 14.60 for the large market cap Emirates NBD (ENBD), with a surprisingly active AED 32 million of trading. A relatively small amount however, compared to the solid total market turnover of AED 3.5 billion. DEYAAR was at the top of the turnover table with AED 1 billion worth of trading and a 1.7% fall in price, more than twice the amount of the next highest on the list by traded value - Amlak Finance (AMLAK), falling 1.6%.
Islamic Arab Insurance (IAIC) was the only other gainer of note, up 3.9% on a very active AED 244m worth. Shuaa Capital (SHUAA) rose just 0.8% and the remaining gainers rose on less than AED 1 million of trading each.
The most significant losers were GULFNAV down 2.9% to 1.67, Du Telecom (DU) down 2.8% to 5.93, Tamweel (TAMWEEL) down 2.5% to 6.92, and DFM down 2.1% to 6.61. AEIBANK, a rarely traded stock, was noted for having a second trading day this month, and topping the losers list with a single deal of just 29 shares. Emaar Properties (EMAAR) fell 1.1% to 13.50.
Abu Dhabi Securities Market
The ADSMI rose but just barely, the increase a mere 0.01% or 0.31 points to 4512.91, with turnover a still reasonable AED 1.25 billion. ARKAN dominated the floor with about a third of that total at AED 455 million of turnover and a slight increase in price of 0.74% to 4.06.
No outstanding gains today, except for a handful of illiquid stocks - the top 4 from just a single trade each. Of the more actively traded shares, Finance House (FH) rose 2.2%, NBS and Aldar Properties (ALDAR) up 1.4%, BILDCO (BILDCO) up 1.3%, Abu Dhabi National Energy (TAQA) and ADAVIATION up 1.2%.
Etisalat (ETISALAT) closed unchanged at 23.45, while most of the more active stocks either rose or fell by less than 1%.
Significant losers on trading of more AED 1 million were Commercial Bank International (CBI) down 4.25% TO 3.00, and Abu Dhabi Commercial Bank (ADCB) down 2.3% to 6.71.
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