DFM & ADSM reports

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

Thursday, May 31, 2007

UAE markets 31 May 2007

UAE market news & discussions for 31 May 2007

Good news for today was that Emaar's Burj Dubai is now the second tallest building in the world. But that didn't stop both markets from heading down although the DFM change was minimal.

The Commercial Bank of Dubai was awarded an Islamic Bank licence which would indicate the Central Bank saying no more bank licences last month, doesn't mean what we thought it did. Perhaps there is hope for Amlak and Tamweel after all? It was First Gulf Bank's turn to announce information not apparently relevant to share prices. Their General Assembly Meeting yesterday approved an increase in individual foreign ownership limits and AED 1.8 bn of bond issues. Mashreqbank again denied they were interested in buying an Egyptian bank but said they had approval to open ten of their own branches in Egypt. ADSM announced that Aabar Petroleum founders could sell their shares from today, and Aabar's share price plummeted.

Dubai Financial Market and Abu Dhabi Securities Market index for 31 May 2007

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best stock rises
symbol price change
AGTHIA 1.85 +0.14 +8.2%
SCIDC 3.72 +0.19 +5.4%
ASMAK 6.69 +0.34 +5.4%
RAKCEC 5.00 +0.21 +4.4%
CBI 2.22 +0.09 +4.2%
worst stock falls
symbol price change
EIC 10.35 -1.15 -10%
NBF 3.20 -0.35 -9.9%
AABAR 3.11 -0.21 -6.3%
NBQ 4.50 -0.30 -6.3%
TAQA 2.90 -0.12 -4%
top volume
symbol value (AED) price
ADIB345,052,88560.85
EMAAR334,753,58112.15
TAMWEEL201,121,0584.59
AABAR172,183,9923.11
DIC138,989,6944.76

Dubai Financial Market

The DFMGI rose to almost 4500 points early in the session before taking a quick fall to 4450. In the end it closed at 4476, a slight fall of 0.08%, with total traded value of AED 1.4 bn.

Union Properties PJSC (UPP) at the top of the gainers list with a 2.4% rise to 3.45 and an impressive 92m dhs of traded value. Emaar Properties PJSC (EMAAR) at the top of the traded value list with a 0.4% rise to 12.20. Other increases of less than 2% on active trading for National Bank of Dubai (NBD), Tamweel PJSC (TAMWEEL), Amlak Finance Company (AMLAK), Emirates Integrated Telecommunications Company (DU).

Shuaa Capital PJSC (SHUAA) had the worst fall of note, down 2.8% to 5.20. GGICO fell 2.5% and the remaining actively traded stocks fell about 1% or less, with National General Cooling Company PJSC (TABREED) closing flat.

Abu Dhabi Securities Market

ADSM look worse for the wear today with the index down 0.9% to drop below 3600 the level, finishing at 3,578 with a still substantial AED 1 billion traded. Thirty stocks fell and only nine rose in price.

AGTHIA the star stock today, closing limit up at 1.88 and 32m dhs of trading. Abu Dhabi Islamic Bank (ADIB) also looking good today with a 3.5% rise to 60.95 and a massive 345m dhs of traded value. Other rises on busy trading for Sharjah Cement & Industrial Development Company (SCIDC) up 5.4%, Invest Bank (INVESTB) up 1.6%, Commercial Bank International (CBI) up just 0.5% but from unusually high volume of 27m shares however 22m shares changed hands in just one trade.

Aabar Petroleum Investments Company PJSC (AABAR) also in the spotlight today, crashing almost limit down by the end of trading. Average price was 3.11, down 6.3% from yesterday and large volume traded of AED 172m. Other significant falls for Abu Dhabi National Energy Company (TAQA) down 4%, Qatar Telecom (QTEL) down 3.8%, Sorouh Real Estate (SOROUH) down 3.7%, Sudan Telecom Company Ltd (SUDATEL) down 3.4%, and NBS unusually busy with a 3.2% fall. Another 19 stocks fell less than 2% each.

Posted by sharewadi at 15:05

Wednesday, May 30, 2007

UAE markets 30 May 2007

UAE market news & discussions for 30 May 2007

DFM looked strong until a late sell off. ADSM managed to get through 3600 points today with TAQA still going like a train, kicking a big hole in the "buy on rumour, sell on news" maxim. The DFM stockmarket game winners were announced and apparently showed us that a sound long term investment strategy can generate returns of over 100% in less than two months.

Amlak Finance announced they received approval to start their AED 1 bn operation in Saudi Arabia. Al Buhaira National Insurance Company said they would allow foreigners to own up to 25% of their shares - which, based on 2007 Q1 results, look more expensive than other UAE insurance companies. Emirates Bank and Mashreq lent money to a bank in Russia, Emirates Bank announced a Joint venture with a bank in Kazakhstan, and confusing reports today of Mashreq Bank bidding or not bidding for either Al Watany Bank in Egypt or National Bank of Egypt.

Dubai Financial Market and Abu Dhabi Securities Market index for 30 May 2007

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best stock rises
symbol price change
SALAM 14.05 +1.05 +8.1%
AKIC 1.60 +0.10 +6.7%
NCTH 4.45 +0.27 +6.5%
UNION 2.10 +0.11 +5.5%
AGTHIA 1.71 +0.08 +4.9%
worst stock falls
symbol price change
EIC 11.50 -0.75 -6.1%
DRIVE 2.63 -0.17 -6.1%
RAKNIC 4.20 -0.25 -5.6%
ASMAK 6.35 -0.30 -4.5%
MAZAYA 7.00 -0.30 -4.1%
top volume
symbol value (AED) price
DIC643,592,3954.79
EMAAR592,666,88612.40
TAMWEEL362,880,4854.59
DFM316,056,0173.39
UPP226,505,1383.43

Dubai Financial Market

The DFMGI shot up to almost 4550 at the start of trading, fell back to almost 4500 fairly quickly and crept back up to just under 4550 before a late sell-off pulled it back down 4480, 0.5% down from yesterday's close. Heavy total volumes today of AED 3.2 billion.

Dubai Investments PJSC (DIC) was the one to watch today, up 2.4% to 4.77 from an immense 643m dhs worth of trading, ahead of Emaar Properties PJSC (EMAAR) falling by 2.4% to 12.15 from 593m dhs of trading. Other increases of note were Commercial Bank of Dubai (CBD) up 4.9% and GGICO up 4.9% - both from much more activity than usual. Big jump for SALAM from just a single trade. Shuaa Capital PJSC (SHUAA), Tamweel PJSC (TAMWEEL), Arab Insurance Group (ARIG), Arabtec Holding PJSC (ARTC), Union Properties PJSC (UPP) all rose less than 2%.

National General Cooling Company PJSC (TABREED) the big loser today, down by 3.5%, followed by Islamic Arab Insurance Company PSC (IAIC) down by 2.8%. GULFNAV, Amlak Finance Company (AMLAK), DIB, Emirates Integrated Telecommunications Company (DU), DFM all fell by less than 2%. National Bank of Dubai (NBD) was more active than usual and fell by 0.4% to 9.01.

Abu Dhabi Securities Market

ADSM had a good day with a net 0.8% rise to 3,610 and a solid AED 1.26 bn of trading. Abu Dhabi National Energy Company (TAQA) with a 4.1% rise to 3.02 from an impressive 200m dhs of trading one of the star performers today. Oasis International Leasing Company PJSC (OILC) another one in the spotlight with huge trading, especially for them, and a 4.4% increase.

Other impressive rises for AGTHIA, once again, up 4.9%; Aldar Properties PJSC (ALDAR) a defiant 3.2% on volumes that indicate there seems to be no stopping this stock; Abu Dhabi Islamic Bank (ADIB), National Bank of Abu Dhabi (NBAD) and Ras Al Khaimah Properties PJSC (RAKPROP) all up 2.6%; and Dana Gas PJSC (DANA), Sorouh Real Estate (SOROUH), Abu Dhabi Commercial Bank (ADCB), Gulf Cement Company (GCEM), ARKAN all up about 1-2%.

DRIVE got hit hard by 6.1%, Qatar Telecom (QTEL) dropped 2% and Finance House PJSC (FH) 1.4% on reasonable activity. Sudan Telecom Company Ltd (SUDATEL), Union National Bank (UNB), Emirates Telecommunications Company (ETISALAT), and First Gulf Bank (FGB) all fell slightly by about 0.3%.

Posted by sharewadi at 16:22

Tuesday, May 29, 2007

UAE markets 29 May 2007

UAE market news & discussions for 29 May 2007

A slight wobble at the start of the day for the Abu Dhabi and Dubai stockmarkets but several stocks showing healthy rises by the end of trading, and DFM finishing on a strong note.

Abu Dhabi Energy (TAQA) must have been most surprised to discover they'd just spent more than AED 7 billion dhs on a Canadian oil company last night, after saying on Sunday they had no idea why their share price was increasing sharply - over 30% in four days. However, any surprise was not apparent from the press release this morning.

Dubai Islamic Bank has announced a retail investment fund for US property. Isn't property on a downturn over there? And DIFC seems to be changing its tune from buying OMX to not buying to now saying no comment. Maybe tomorrow the story will be OMX is buying DIFC?

Dubai Financial Market and Abu Dhabi Securities Market index for 29 May 2007

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best stock rises
symbol price change
RAKCEC 4.79 +0.38 +8.6%
IAIC 3.44 +0.26 +8.2%
QTEL 243.90 +15.00 +6.6%
ASMAK 6.65 +0.33 +5.2%
ARTC 5.60 +0.28 +5.3%
worst stock falls
symbol price change
IFA 9.70 -1.68 -14.8%
AWNIC 4.41 -0.49 -10%
DRIVE 2.80 -0.28 -9.1%
FH 9.28 -0.77 -7.7%
ABNIC 7.50 -0.64 -7.9%
top volume
symbol value (AED) price
EMAAR306,094,91212.30
IAIC277,269,3973.44
DIB249,628,43910.00
OILC199,394,9411.35
DIC191,721,2624.59

Dubai Financial Market

DFM saw an early drop from 4406 to 4373 this morning but after that, it was steady rise for the DFMGI to break through the 4500 point level and close at 4505, up 2.2% making up nicely for yesterday's pause. Total value traded was just over a healthy AED 2 billion.

Good to see almost everything rising. Top of the list was Islamic Arab Insurance Company PSC (IAIC) up 7.8% to 3.59 from a strong 277m dhs of trading but no buyback information seen. Arabtec Holding PJSC (ARTC) with a healthy 5.2% rise to 5.66, and all the foreigners wanting to buy having difficulties with the ownership limit reached. Union Properties PJSC (UPP), Aramex PJSC (ARMX), Dubai Investments PJSC (DIC), and Arab Insurance Group (ARIG) up 4-5% each. Everything else up about 0-3%. Emaar Properties PJSC (EMAAR) rose 2.5% to 12.45, and was at the top of the value traded list with just over 300m dhs worth of deals done.

Only two insignificant falls today. The fall for International Financial Advisors KSCC (IFA) was interesting in that there were only two trades - one at almost limit up price, and one at limit down price.

Abu Dhabi Securities Market

ADSM fell quickly in early trading but then crept back up during the rest of the session. The index couldn't get through the 3600 point level which it almost reached yesterday, and in the end closed at 3582 points, down 0.4% from total traded value of just over AED 1 billion.

Heaviest trading by volume for Oasis International Leasing Company PJSC (OILC) up 2.3% to 1.36 and Abu Dhabi National Energy Company (TAQA) up 4.7% to 2.96. Other decent rises for AGTHIA up 3.2% on solid trading, while Qatar Telecom (QTEL), Ras Al Khaimah Ceramics (RAKCEC) and ASMAK saw bigger increases on very few trades. Emirates Telecommunications Company (ETISALAT) rose just 0.3% to 18.50 on moderate trading. Aldar Properties PJSC (ALDAR) and ARKAN both rose just 0.7% from strong trading.

A long list of falling stocks today with DRIVE near the top on active trading. Other notable falls for National Bank of Abu Dhabi (NBAD) down 2.5%, Union National Bank (UNB) down 2.2%, Gulf Cement Company (GCEM) also down 2.2%, and Sorouh Real Estate (SOROUH) down just 1.5%.

Posted by sharewadi at 15:19

Monday, May 28, 2007

UAE markets 28 May 2007

UAE market news & discussions for 28 May 2007

Heavy trading volume on a downturn today for both the Abu Dhabi and Dubai stock markets, which could optimistically be seen as pause for breath from the steep climb yesterday. Or pessimistically seen as a return to form. Abu Dhabi market was unusual in that most of the highly traded stocks showed an increase, the index dragged down by a fall in Etisalat shares. We'll be optimistic and look for a recovery tomorrow.

Aabar Petroleum announced a second oil find in Indonesia. Dubai Investments were reported as being in talks to set up Dubai Investment Parks in three other Middle East countries. A report from Shuaa yesterday gave Union National Bank a neutral rating with about 6% upside in the share price. The Emirates Post IPO is now reported as opening in Q4 2007. Dubai Refreshments Company EGM for bonus shares is today. International Financial Advisers Aviation subsidiary will do an IPO later this year. Grand Real Estate announced their AGM & EGM would be on 09 Jun 2007.

Yesterday's reports of DIFC interest in OMX were denied by DIFC. DIFC were also reported to be selling at least AED 3.7 billion of sukuks. Bahrain's TAIB Bank is reported to be in talks to sell a stake to Dubai Holding. Kuwait said they would change to a Fri/Sat weekend from 01 Sep 2007.

Dubai Financial Market and Abu Dhabi Securities Market index for 28 May 2007

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best stock rises
symbol price change
IFA 11.25 +1.25 +12.5%
EIC 11.90 +1.00 +9.2%
RAPCO 4.27 +0.35 +8.9%
SALAM 13.00 +0.90 +7.4%
FH 9.47 +0.58 +6.5%
worst stock falls
symbol price change
AWNIC 4.90 -0.51 -9.4%
QTEL 228.90 -13.10 -5.4%
OEIHC 18.05 -0.95 -5%
RAKCEC 4.41 -0.23 -5%
GULFNAV 1.21 -0.06 -4.7%
top volume
symbol value (AED) price
EMAAR704,521,60512.25
DFM385,838,9733.35
DIB244,419,5649.90
AMLAK235,766,6933.66
ADIB227,501,40857.40

Dubai Financial Market

The DFMGI fell quickly by almost 100 points at the start of trading, then recovered back to yesterdays close before steadily falling to finish at 4408, down 1.6% from a sizeable AED 2.6 billion of total trades.

Union Properties PJSC (UPP) the only actively traded to finish the day on a positive note with a 1.9% rise to 3.20. GGICO stood out as being more active than usual, also with a 1.9%. International Financial Advisors KSCC (IFA) had another big jump, and again from just a single small trade.

Emaar Properties PJSC (EMAAR) led the total value traded list with AED 700m dhs worth of deals and a 1.6% fall to 12.15. Biggest fall was for GULFNAV down 4.8% to 1.18. Other falls of 3-4% on active trading for Islamic Arab Insurance Company PSC (IAIC), Shuaa Capital PJSC (SHUAA), Dubai Investments PJSC (DIC), Aramex PJSC (ARMX), National General Cooling Company PJSC (TABREED) with the remaining liquid stocks falling less than 2%.

Abu Dhabi Securities Market

The ADSM index fell by 1% to close at 3598 points from AED 1.4 bn of trading - almost as much as yesterday. Number of gainers and losers was almost evenly split - 23 up and 24 down.

Big rise of 6.1% for Abu Dhabi National Energy Company (TAQA) to 2.13 from a solid 160m dhs worth. Finance House PJSC (FH) stood out with a 6.5% rise to 8.63 from much more than usual trading. Abu Dhabi Islamic Bank (ADIB) at the top of the traded value list with 228m dhs and a 1.9% increase, Sorouh Real Estate (SOROUH) also up there with 226m dhs and a 1.6% increase. Other rises of 0-3% on active trading for Dana Gas PJSC (DANA), Aabar Petroleum Investments Company PJSC (AABAR), Ras Al Khaimah Properties PJSC (RAKPROP), Sudan Telecom Company Ltd (SUDATEL), Oasis International Leasing Company PJSC (OILC) and Ras Al Khaimah White Cement Company (RAKWCT).

Significant losers were Qatar Telecom (QTEL) down 5.4%, National Bank of Abu Dhabi (NBAD) down 4.5%, Emirates Telecommunications Company (ETISALAT) down 2.4%, Aldar Properties PJSC (ALDAR) down 3.3%, AGTHIA down 3.1%, Abu Dhabi Ship Building (ADSB) down 3.6% with the remaining actively traded stocks falling by less than 2%.

Posted by sharewadi at 15:08

Sunday, May 27, 2007

UAE markets 27 May 2007

UAE market news & discussions for 27 May 2007

The Dubai and Abu Dhabi stock markets were flying today - heavy trading and increases of 3% and 4% respectively. Dubai Financial Market said foreigners bought 2.4 bn dhs worth of shares last week. ShareWadi.com fair value estimates have been updated to adjust for dividends with DIC and EMAAR looking like they could be the cheapest shares at present. The Emirates Post IPO was announced for June/July with a dual listing on DFM/ADSM.

Abu Dhabi National Energy Company (TAQA) said they had no information to explain limit up trading on Thursday, and their shares went limit up again today. Oasis Leasing shares were one of many to go 10% limit up on ADSM today, which seems to be a remarkable response to the departure of their CFO on Thursday. Aabar Petroleum's news on Thursday of a new oil find in Indonesia prompted two successive days of shares limit up. Dana Gas signed an MoU with Arab Petroleum Investments (APICORP) for collaboration on gas projects, and their shares were limit up today also. ADSM signed an MoU with the Bahrain Stock Exchange - ADSM's stock market MoU box must be overflowing by now.

Tamweel said they'd received the first Title Deed from the Dubai Land Department. Emaar announced a 2.7 bn development in Turkey, and said there would be more. Emaar left over rights issue shares should be in shareholder accounts. DIC's Dubai Investment Industries signed an MoU with an Indian steel business, and DIC share price barely moved. IAIC Salama received a BBB+ rating from Standard & Poor's.

The Dubai International Financial Center (DIFC) were reported to have appointed HSBC to advise them on bidding against the NASDAQ for the purchase of Scandinavia's OMX stock exchange - looks cheap at half the price of DFM ... or DFM looks expensive. Another "World's Largest Shopping Mall" was announced - to be built in Dubai Holding's Bawadi development.

Dubai Financial Market and Abu Dhabi Securities Market index for 27 May 2007

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best stock rises
symbol price change
UAB 6.42 +0.58 +9.9%
IAIC 3.34 +0.31 +10.2%
NBF 3.84 +0.34 +9.7%
DRIVE 2.86 +0.25 +9.6%
ARMX 2.62 +0.23 +9.6%
worst stock falls
symbol price change
AWNIC 5.41 -0.60 -10%
RAPCO 3.92 -0.42 -9.7%
GLOBAL 10.40 -0.90 -8%
QCEM 2.10 -0.11 -5%
NMDC 4.07 -0.13 -3.1%
top volume
symbol value (AED) price
EMAAR808,829,62912.15
DFM527,248,0673.35
IAIC394,577,7903.34
DIB394,276,6419.77
AMLAK365,565,4893.68

Dubai Financial Market

DFM today with a huge AED 3.7 billion dhs of trading from over a billion shares, pushing the DFMGI index up an impressive 3.3% to 4480 points. Emaar Properties PJSC (EMAAR) led the volume table with just over 800 mn dhs traded and a 4.2% rise to 12.35.

Biggest increase for Islamic Arab Insurance Company PSC (IAIC) up 9.8% to 3.46 from 400m dhs worth - more buyback going on? Also doing very well on heavy volumes were Aramex PJSC (ARMX) up 9.5% to 2.66, GULFNAV up 7.8%, and Dubai Islamic Bank (DIB) up 6.4%. AMAN up 7.6% on light volume. All other actively traded stocks rose 0-4%.

The only two losers were Commercial Bank of Dubai (CBD) with inconspicous trading, and Global Investment House (GLOBAL) down 8.2% to 10.10 from relatively moderate volumes.

Abu Dhabi Securities Market

ADSM looked even better than DFM today with a 4.4% rise to 3635 points - it's highest since October last year. Total traded value double Thursday's effort at AED 1.6 bn. There were 12 companies trading 10% limit up, or almost, by the end of the day (and some at that level for almost the whole session):

Actual average increases for the day varied depending on how many trades went through below the limit. UAB and NBF increases came from just one trade each. The heavy duty ADSM stock, Emirates Telecommunications Company (ETISALAT), saw a 2.7% rise from 52m dhs of trading.

Top of the traded value list were Sorouh with 240m dhs, Abu Dhabi Islamic Bank 190m dhs, Al Dar 171m dhs, Arkan 160m dhs, and Oasis Leasing 151m dhs.

Only 7 stocks were down with Gulf Cement Company (GCEM) was the only one losing value on active trading - just 0.2% to 6.00. First Gulf Bank (FGB) ended the day unchanged.

Posted by sharewadi at 15:35

Thursday, May 24, 2007

UAE markets 24 May 2007

UAE market news & discussions for 24 May 2007

Solid gains on both ADSM and DFM today to finish a good week on the UAE markets with vigorous trading and substantial increases for several shares, including Aabar Petroleum and Taqa going 10% limit up. There was a report that Union National Bank may be merging with another UAE bank.

Dubai Financial Market and Abu Dhabi Securities Market index for 24 May 2007

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best stock rises
symbol price change
IFA 10.00 +1.25 +14.3%
RAPCO 4.34 +0.39 +9.9%
EIC 10.90 +0.92 +9.2%
AABAR 2.84 +0.19 +7.2%
TAQA 2.42 +0.16 +7.1%
worst stock falls
symbol price change
FH 8.34 -0.53 -6%
ASMAK 6.22 -0.26 -4%
ADAVIATION 2.20 -0.09 -3.9%
FOODCO 3.39 -0.11 -3.1%
NCC 8.71 -0.27 -3%
top volume
symbol value (AED) price
EMAAR441,018,49711.75
DFM343,324,4103.29
SOROUH340,713,0854.16
AMLAK312,083,7913.57
ARTC260,136,5165.34

Dubai Financial Market

DFM was up 1.6% to 4336 points from almost AED 2.5 bn total traded value. Big rises for National General Cooling Company PJSC (TABREED) up 6.2% to 2.76, Union Properties PJSC (UPP) up 5.5% to 3.05, Emirates Integrated Telecommunications Company (DU) up 3.7% to 5.36, Amlak Finance Company (AMLAK) up 3.2% to 3.59. Emaar Properties PJSC (EMAAR) topped the traded value list with a 2.6% rise to 11.85. Another big jump of 14% for International Financial Advisors KSCC (IFA) to 10.00 but from just one tiny trade of just 100 shares.

Tamweel PJSC (TAMWEEL) the only stock falling on Dubai Financial Market on volume of any subtance, and that was a mere 0.5% to 4.33.

Abu Dhabi Securities Market

ADSM continued its bull run this week with a resolute 1.9% rise to 3482 points and cracked the 1 bn daily traded value for the first time in a while - total was AED 1.25 bn.

Abu Dhabi National Energy Company (TAQA) limit up to 2.48 from AED 157m of trading and Aabar Petroleum Investments Company PJSC (AABAR) limit up to 2.91 from AED 65m of trading were the stocks that shone today. ARKAN almost at maximum increase with a 9.6% rise to 1.36 and AED 138m of trading, similarly for Aldar Properties PJSC (ALDAR) up 8.9%.

Sorouh Real Estate (SOROUH) had the highest traded value of AED 338m and a decent 7.6% rise to 4.26. Other big rises on solid trading for Invest Bank (INVESTB) up 5.3%, National Bank of Abu Dhabi (NBAD) up 4.4%, Abu Dhabi Commercial Bank (ADCB) up 4.9%, and DRIVE up 4.5%. Union National Bank (UNB) shares rose a less impressive 1% but traded value was a hefty 28m dhs.

Notable losses for First Gulf Bank (FGB) running out of steam, down 0.3%, Sudan Telecom Company Ltd (SUDATEL) slowing its plummet and losing just 1%, and NBS / SIB down 1.3%. Other losses were on trivial volume levels.

Posted by sharewadi at 14:50

Wednesday, May 23, 2007

UAE markets 23 May 2007

UAE market news & discussions for 23 May 2007

Another good day for both markets, ADSM especially with a strong rise and good trading volume, with Taqa heading limit up on big volumes - something must be up. Al Fujairah National Insurance Company was a new listing on ADSM today, but its single trade probably didn't have much influence on the market overall. Salama bought back another 100k of its own shares on DFM two days ago - at this rate it will take a few years to complete the buyback.

Emaar said in London that their investor relations strategy "is focused on furthering investor trust through transparency in operations". We won't mention the ----- -------- deal. Amlak said yesterday they were heading to Morocco. Sudan Telecom announced their AGM and dividend decisions. Agility acquired an Egyptian company but said the cost was "not material". DFM noted that newspapers reported their 2007 Q1 profit incorrectly this morning. Yesterday, DFM forecast a 50% increase in 2007 profit, which looks rather ambitious after first quarter profits. ESCA have an incorrect disclosure for Grand Real Estate 2007 Q1 financial results.

Emaar Financial Services appear to have offended Etisalat - their website, emaarfs.ae, is currently blocked due to "content being inconsistent with the religious, cultural, political and moral values of the United Arab Emirates."

Dubai Financial Market and Abu Dhabi Securities Market index for 23 May 2007

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best stock rises
symbol price change
IFA 8.01 +1.10 +15.9%
TAQA 2.26 +0.21 +10.2%
EIC 9.98 +0.89 +9.8%
GLOBAL 10.95 +0.80 +7.9%
NBF 3.50 +0.22 +6.7%
worst stock falls
symbol price change
UAB 5.84 -0.46 -7.3%
NBQ 4.46 -0.29 -6.1%
INVESTB 2.27 -0.04 -1.7%
FH 8.87 -0.07 -0.8%
AGTHIA 1.52 -0.01 -0.7%
top volume
symbol value (AED) price
DFM516,818,8923.27
ARTC276,111,2315.24
EMAAR269,003,89311.55
DIB201,849,2669.25
SOROUH182,873,4353.96

Dubai Financial Market

The roadshow in London must be going well. Almost AED 2 billion of traded value on DFM today and another robust 1.3% rise to 4268 points.

Arabtec Holding PJSC (ARTC) looking good with a very handy 3.9% rise to 5.27 and a weighty 276m dhs of trading. DFM shares at the top of the volume list but only a 0.9% rise to 3.28 while Emaar Properties PJSC (EMAAR) was up 1.3%. Aramex PJSC (ARMX), Tamweel PJSC (TAMWEEL) and Union Properties PJSC (UPP) all rose 2-3%, the rest of the busy stocks rose less than 2%.

Other rises worth a comment for Commercial Bank of Dubai (CBD) up 4.9% on higher than normal trading volumes, and International Financial Advisors KSCC (IFA) with a big 14.4% rise but only three small trades.

Abu Dhabi Securities Market

Almost everything else was up. A storming day for ADSM with a 2.1% rise to 3419 and trading volume a very impressive AED 884m. Only 6, mostly obscure, stocks falling - AGTHIA standing out in the list but thin trading and just a 1.3% decrease.

Abu Dhabi National Energy Company (TAQA) was the standout stock today heading 10% limit up to 2.33 with no sellers in the queue, and AED 162m traded value. Depending on when whatever news comes out that's prompted this rally, chances are it will be up again tomorrow.

Other rises on big volumes for Abu Dhabi Commercial Bank (ADCB) up 4.2%, Abu Dhabi Islamic Bank (ADIB) up 2.6%, National Bank of Abu Dhabi (NBAD) up 4.8%, NBS / SIB up 2.7% on a surprisingly large quantity of shares traded, Oasis International Leasing Company PJSC (OILC) up 1.8%, Aldar Properties PJSC (ALDAR) up 3.4%, Ras Al Khaimah Properties PJSC (RAKPROP) up 2.8%, Sorouh Real Estate (SOROUH) up just 1.5% but a massive AED 183m of trading, Aabar Petroleum Investments Company PJSC (AABAR) up 3.5%, Dana Gas PJSC (DANA) up 2%. DHAFRA was flat at 5 dhs but an astounding 3.2m shares were traded (usually they're close to 0).

Posted by sharewadi at 16:40

Tuesday, May 22, 2007

UAE markets 22 May 2007

UAE market news & discussions for 22 May 2007

Good days for both markets with a strong rise on DFM. Standout rises on heavy trading for Tamweel, Arkan Building Materials, Dana Gas, Dubai Financial Market, and First Gulf Bank.

The UAE PM said that the dollar peg would remain for the time being which leaves Kuwait as the only GCC country delinked. The Deyaar IPO was over 14x oversubscribed - somewhat higher than the 5-10 times forecast from the CEO last week. Halliburton said they're looking at AED 300 bn worth of projects in the next few years. The UAE GDP is forecast to be AED 700 bn for 2007.

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

More UAE stock market news and discussions...

best stock rises
symbol price change
NMDC 4.12 +0.31 +8.1%
ADAVIATION 2.29 +0.13 +6%
UNION 2.13 +0.11 +5.4%
TAMWEEL 4.15 +0.21 +5.3%
ARKAN 1.25 +0.06 +5%
worst stock falls
symbol price change
EIC 9.09 -1.01 -10%
RAPCO 3.95 -0.43 -9.8%
SUDATEL 8.13 -0.75 -8.4%
ASMAK 6.11 -0.36 -5.6%
ADSB 2.74 -0.06 -2.1%
top volume
symbol value (AED) price
DFM204,916,3123.22
ARKAN177,000,8301.25
EMAAR147,635,49511.30
FGB119,860,93415.05
DANA114,899,6161.50

Dubai Financial Market

A decent 1.4% rise to break through 4200 points and close at 4214 for DFM today. Moderate traded value of 800m dhs.

Tamweel PJSC (TAMWEEL) had a marvellous day with a solid 5.2% rise from 115m dhs of trading. DFM shares were at the top of the traded value table, up 2.8% to 3.25 with AED 205m worth of deals done. Emaar Properties PJSC (EMAAR) a bit less with 148m dhs of trades and a 1.8% rise to 11.40.

Other rises from active trading for GULFNAV up 2.7% and Amlak Finance Company (AMLAK) up 2.1%. The remaining high volume stocks rising 0-2%. Arab Insurance Group (ARIG) was the only loser today, down 0.3% on light trading.

Abu Dhabi Securities Market

ADSM crept up by a mere 0.08% to 3350 points but with a solid trading volume of AED 632m not far below volume at DFM.

Big rises for ARKAN up 5%, First Gulf Bank (FGB) and Dana Gas PJSC (DANA) both up 2% from over 100m dhs of trading. Each. ADAVIATION up 6%, ADNH up 1.8%, and Invest Bank (INVESTB) up 4% were unusually active today. Other rises were below 2% and/or on thin volumes.

Sudan Telecom Company Ltd (SUDATEL) the loser of note today, after a limit down day yesterday crashed another 8.5% from a substantial 44m dhs worth of trades. AGTHIA copped a 1.9% fall while Abu Dhabi Commercial Bank (ADCB), Aldar Properties PJSC (ALDAR), Emirates Telecommunications Company (ETISALAT), Gulf Cement Company (GCEM), National Bank of Abu Dhabi (NBAD), Gulf Cement Company (GCEM), Sorouh Real Estate (SOROUH), and Union National Bank (UNB) all had small losses of less than 1%. Other big decreases were from limited trading.

Posted by sharewadi at 15:36

Monday, May 21, 2007

UAE markets 21 May 2007

UAE market news & discussions for 21 May 2007

ADSM continued its steady climb with First Gulf Bank performing well, while DFM went the other way although Dubai Investments looked encouraging.

Shuaa Capital AGM agenda is available. Aramex forecast profit increase of 20-30% for 2007. ESCA asked media to report accurately. A report this morning that ESCA said all companies had filed 2007 Q1 accounts on time appeared to be inaccurate.

Qatar, Bahrain, Oman, Saudi Arabia have so far said they won't follow Kuwait's dropping of the dollar peg. Nothing definitive heard from the UAE Central Bank yet.

Dubai Financial Market and Abu Dhabi Securities Market index for 21 May 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
NCTH 4.19 +0.38 +10%
UAB 6.30 +0.40 +6.8%
ASMAK 6.47 +0.36 +5.9%
DANA 1.47 +0.06 +4.3%
QCEM 2.12 +0.08 +3.9%
worst stock falls
symbol price change
RAPCO 4.38 -0.44 -9.1%
SUDATEL 8.88 -0.98 -9.9%
NBF 3.21 -0.34 -9.6%
NCC 8.56 -0.44 -4.9%
FOODCO 3.44 -0.16 -4.4%
top volume
symbol value (AED) price
DIC203,085,1014.35
EMAAR116,506,75211.30
FGB92,434,62114.75
DANA87,052,0331.47
ARTC68,511,7085.09

Dubai Financial Market

A slower day on DFM with a 0.34% fall to 4156 points and traded value down to AED 736m dhs. Emaar had the biggest fall of 1.3% to 11.20 (ignoring the single small trade in National Cement Company) which dragged the market down but volume was muted.

Other falls of less than 1% for Islamic Arab Insurance Company PSC (IAIC), Emirates Integrated Telecommunications Company (DU), DFM, Tamweel PJSC (TAMWEEL), and UP. While Amlak Finance Company (AMLAK), DIB, TABREEED and GULFNAV ended the day unchanged.

Rises for Dubai Investments PJSC (DIC) of 0.5% on robust trading volumes, Arabtec Holding PJSC (ARTC) up 0.6%, and Shuaa Capital PJSC (SHUAA) up 1%.

Abu Dhabi Securities Market

Yet another green day at ADSM with a 0.68% rise to 3347 points and a moderate AED 461m total traded value, with 28 stocks rising, 12 falling and 4 unchanged.

First Gulf Bank (FGB) up 3.5% to 14.75 and Dana Gas PJSC (DANA) up 4.3% to 1.47 on solid trading volumes led the list of gainers of note today. Other gains on hefty volumes for Gulf Cement Company (GCEM) up 1%, Aldar Properties PJSC (ALDAR) up 0.3%, Aabar Petroleum Investments Company PJSC (AABAR) up 0.8%, Sorouh Real Estate (SOROUH) up 0.5%, and Union National Bank (UNB) up 3.1%. ASMAK worth a mention with a 5.9% increase for busier than usual trading.

AGTHIA was heavily traded but closed with price unchanged for the day.

Sudan Telecom Company Ltd (SUDATEL) crashed limit down to 8.88 dhs, traded value restricted by no buyers ready purchase any shares from the big queue of sellers. Looks tomorrow could be another bad day for them. Other losers on volumes worth noting were Oasis International Leasing Company PJSC (OILC) down 0.9%, and Abu Dhabi Islamic Bank (ADIB) down just 0.2%.

Posted by sharewadi at 15:50

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