DFM & ADSM reports

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

Sunday, September 30, 2007

UAE markets 30 Sep 2007

UAE market news & discussions for 30 September 2007

The last day of September 2007 saw none of the promised news from Emaar on their JV with Dubai Holding. Disappointing but not unexpected. Aldar Properties had a storming day on the ADSM, with closing prices almost limit up. Sorouh Real Estate also had a solid day. While at the DFM, trading was heavy in Air Arabia shares, which saw a small gain.

Etisalat were reported to be considering the purchase of a mobile licence for Sudan. They already have a share of the fixed line market through their affiliate, Canar Telecom.

Arabtec said they would not be looking at further projects in the next 6 months as their resources were fully stretched with current developments, including the recently announced Meydan joint venture.

HSBC announced they are the first international bank receiving a licence to offer brokerage services for the local UAE stockmarkets.

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

More UAE stock market news and discussions...

best stock rises
symbol price change
NCTH 4.64 +0.42 +10%
UNION 2.22 +0.16 +7.8%
INVESTB 3.48 +0.24 +7.4%
NBF 4.65 +0.24 +5.4%
ALDAR 7.88 +0.40 +5.3%
worst stock falls
symbol price change
NMDC 5.20 -0.19 -3.5%
AKIC 1.59 -0.05 -3%
OIC 8.50 -0.26 -3%
FH 6.34 -0.17 -2.6%
NBAD 18.50 -0.45 -2.4%
top volume
symbol value (AED) price
ALDAR418,741,0007.88
AIRARABIA306,954,0531.35
SOROUH144,326,6234.61
DEYAAR85,085,6291.84
EMAAR68,550,48610.65

Dubai Financial Market

The DFMGI ended the day almost flat with just a 0.03% rise to 4232.5 from unexciting turnover of AED 635m, half of which came from trading in AIRARABIA shares. They finished the day at 1.35 dhs, up just a fil, or 0.75%.

Not counting the single trade for NCC, Emirates Integrated Telecommunications Company (DU) had the best rise of the day, up 1.9% to 4.76. Other stocks rising included Dubai Investments PJSC (DIC) and Arabtec Holding PJSC (ARTC) up 1.1%, and Tamweel PJSC (TAMWEEL) up 1%. A total of just 8 stocks saw green today.

Aramex PJSC (ARMX) topped the actively traded loser's list with a small 1.2% fall to 2.55. Other stocks on greater than 1m dhs turnover fell less than 1%. Emaar Properties PJSC (EMAAR) dropped 0.5% to 10.65 on thin trading of 70m dhs.

Abu Dhabi Securities Market

The ADSM had a decent 1% rise to 3558 points from robust turnover of AED 883m. Almost half of that from trading in Aldar Properties PJSC (ALDAR) which closed the day almost limit up at 8.22 but average rise was 5.4%. Sorouh Real Estate (SOROUH) had a 3.2% increase to 4.67 and was second in the list of traded value.

UNION had a 7.8% leap to 2.25, Union National Bank (UNB) was up 2.8%, First Gulf Bank (FGB) was busy today and saw a up 2.1% hike, Emirates Telecommunications Company (ETISALAT) moved on by 1.4%, ARKAN up by 1.2% and Abu Dhabi Islamic Bank (ADIB) up by 1% finished off the list of increases worth noting.

There wasn't much in the gloomy corner of the market. Most falls were on low turnover with the exception of Abu Dhabi National Company for Building Materials (BILDCO) down 1.1%, Oasis International Leasing Company PJSC (OILC) down 0.6% and AGTHIA also down 0.6%.

Interesting deal of the day award goes to the rarely traded NBQ, which saw a single massive trade of over 5m shares worth AED 25m at an unchanged price of 4.75.

Posted by sharewadi at 16:37

Thursday, September 27, 2007

UAE markets 27 Sep 2007

UAE market news & discussions for 27 September 2007

The spotlight was on ADSM today which, unusually, saw much greater trading value than DFM. Aldar Properties returned to the top of the value traded list, no doubt helped by the news of a Warner Bros development on Yas Island which prompted a better than 1% rise. RAK Cement was the star though on trading levels well in excess of its usual daily average, and a 4% increase.

The Gulf News reports that up to 40 UAE brokerages could face penalties from the market regulator, ESCA for not complying with new regulations on increased capital requirements.

Emaar's associate company in India, Emaar MGF filed their IPO document with the Indian stock market authority. Emaar share in Dubai went nowhere on very low volumes.

Depa United Group, based in Dubai, said they were planning an IPO for early 2008 but sounded like they were seeking a listing outside the UAE.

Borse Dubai & Nasdaq are close to having a 50% stake in the OMX after increasing their offer to SKR 265 per share. The Swedish regulator said that Nasdaq satisfied their requirements to be an owner of a share of the OMX. Borse Dubai was not mentioned.

Emirates Airline once again denied rumours that it was bidding for another airline - this time Italy's Alitalia, after reports emeerged that EK was interested in a 5% stake.

Both Saudi and the UAE said their US dollar pegs would remain, after speculation this week that the currencies might revalue. Which in a way, doesn't contradict the speculation.

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

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best stock rises
symbol price change
MAZAYA 9.00 +0.40 +4.7%
RAKCC 2.16 +0.08 +3.8%
FH 6.51 +0.20 +3.2%
CBI 2.75 +0.07 +2.6%
AIRARABIA 1.34 +0.03 +2.3%
worst stock falls
symbol price change
GRAND 3.74 -0.66 -15%
NBF 4.41 -0.48 -9.8%
ARIG 3.42 -0.18 -5%
QTEL 221.70 -7.30 -3.2%
UNION 2.06 -0.06 -2.8%
top volume
symbol value (AED) price
ALDAR151,717,7887.48
AIRARABIA147,611,4381.34
OILC142,406,5611.84
RAKCC103,223,3352.16
EMAAR45,699,72410.70

Dubai Financial Market

The DFMGI had a small rise of 0.2% to 4231 from low turnover of AED 365m, with only 4 stocks showing a loss.

AIRARABIA was at the top of the traded value list with AED 148m dhs worth of deals and a decent 2.3% rise to 1.34. Aramex PJSC (ARMX) rose 1.2% while most of the actively traded stocks rose less than 1% or closed flat for the day including Emaar Properties PJSC (EMAAR) at 10.70 and very low turnover.

GRAND was limit down on just one trade while Arabtec Holding PJSC (ARTC) was the only actively traded stock to show a loss, of 1.1% closing at 6.18.

Abu Dhabi Securities Market

The ADSM index fell by 0.17% to 3521 points from 562m dhs of trading, despite rises on solid trading in Ras Al Khaimah Cement Company (RAKCC) up 3.9% to 2.15, Aldar Properties PJSC (ALDAR) up 1.2% to 7.47, and Oasis International Leasing Company PJSC (OILC) up 1.7%.

Other rises for Finance House PJSC (FH) up 3.2%, Commercial Bank International (CBI) up 2.6% to 2.70 again with busy turnover, Abu Dhabi Commercial Bank (ADCB) up 1.3% and AGTHIA up 1.1%.

A bad fall for NBF losing 9.8% to close at 4.41 with greater than usual turnover but still only 1.7m dhs worth. Other decreases for Qatar Telecom (QTEL) down 3.2%, UAB down 2.2%, and Dana Gas PJSC (DANA) down 1.2%. Emirates Telecommunications Company (ETISALAT) and National Bank of Abu Dhabi (NBAD) were both down 0.3%, the likely candidates for dragging the index down due to their large market caps.

Posted by sharewadi at 16:36

Wednesday, September 26, 2007

UAE markets 26 Sep 2007

UAE market news & discussions for 26 September 2007

ADSM rocked and DFM flopped today. Oasis Leasing had solid gains on huge turnover, perhaps indicating Q3 results are looking good. Gulf Navigation on DFM also had a good day, with share price up and hitting the top of the traded value list.

Are investors waiting with bated breath for Emaar's Dubai Holding JV announcement, promised by the end of September? Muted trading in Emaar shares this week with a 1.4% fall today indicates that they'll be true to form and not say anything. Of course, they could surprise everyone and make an announcement in the remaining 4 days, 2 of which are the UAE weekend.

EFG Hermes released a Dubai property research report which forecast continued price increases for 2007 and 2008, before falling in 2009, due to continued delivery delays. They estimate delivery of only 25,000 units this year compared to demand for 45,000 units. EFG also estimate the rent cap for 2008 to be reduced to 5%.

OMX share trading in Sweden was suspended this morning pending an announcement reported to be that key OMX shareholders have been offered a price of SKR 260-265 by Nasdaq and Borse Dubai. Unsurprisingly, Investor AB and Nordea AB, the key shareholders of OMX, declined to comment.

The Saudi stockmarket (Tadawul) will allow GCC nationals (but not expat residents) to trade shares there, following on from last year's ruling allowing resident foreigners in Saudi to buy and sell stocks on the Tadawul.

The Saudi Riyal was at a 21 year high against the dollar on speculation that it might revalue. That difference from 21 years ago is only 1 fil though. The UAE Central Bank cut interest rates another 10 points (0.1%) after a 25 point cut earlier this week.

Dubai Financial Market and Abu Dhabi Securities Market index for 26 September 2007

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best stock rises
symbol price change
ASMAK 5.55 +0.38 +7.4%
CBI 2.68 +0.17 +6.8%
UNION 2.12 +0.12 +6%
AWNIC 5.34 +0.29 +5.7%
ADNH 5.99 +0.31 +5.5%
worst stock falls
symbol price change
FH 6.31 -0.23 -3.5%
AIRARABIA 1.31 -0.04 -3%
CBD 8.55 -0.20 -2.3%
ARMX 2.55 -0.05 -1.9%
IAIC 3.25 -0.06 -1.8%
top volume
symbol value (AED) price
GULFNAV376,730,1211.30
OILC311,774,2291.81
AIRARABIA192,301,0031.31
EMAAR120,878,53410.70
DEYAAR102,401,5001.85

Dubai Financial Market

Have we used the phrase "profit-taking" yet this week? The DFMGI fell 1.05% to 4222 on turnover of AED 1 billion, dragged down by a 1.4% fall in Emaar Properties PJSC (EMAAR) from lowish turnover of AED 121m. This is not a good sign as the Dubai Holding JV announcement deadline, and end of 2007 Q3 approach.

GULFNAV, however, had a storming day, dominating DFM with AED 377m of trading and a reasonable 1.6% rise to 1.30. Other rises for Arab Insurance Group (ARIG), with only 7 trades but just over AED 1m of turnover and a 2.9% rise to 3.60. The other 3 gainers on DFM today were ALMADINA up 1.4%, MAZAYA up 1.2% from just 2 trades, and Arabtec Holding PJSC (ARTC) up 0.6% to 6.25.

AIRARABIA took the biggest hit today as it fell 3% to 1.31. What was that phrase again? Other falls of note were Aramex PJSC (ARMX) down 1.9% to 2.55, Islamic Arab Insurance Company PSC (IAIC) down 1.8%, Emirates Integrated Telecommunications Company (DU) down 1.7%. AMAN, DFM, DIB, and Amlak Finance Company (AMLAK) all fell about 1.25%, and DEYAAR lost 1.1%.

Abu Dhabi Securities Market

The ADSM had a solid 1% rise to break through the 3500 point level, closing at 3528 from healthy turnover of AED 688m. Close to half of that from trading in Oasis International Leasing Company PJSC (OILC) which rose 3.4% to finish at 1.82.

Commercial Bank International (CBI) was the winner of the day though with a 6.8% rise to 2.76 from very high turnover of AED 39m (Commercial Bank International (CBI) usually trades very little). This could be another company with good Q3 results - that seems to be a much more likely explanation than their press release about a new logo.

Encouraging rises also for UNION up 6% to 2.18, AWNIC up 5.7% to 5.50, ADNH up 5.5% to 5.85. All three stocks rising on unusually high turnover.

National Bank of Abu Dhabi (NBAD), Dana Gas PJSC (DANA), Ras Al Khaimah Properties PJSC (RAKPROP), ARKAN, First Gulf Bank (FGB) and Qatar Telecom (QTEL) all rose between 1.8% & 1.9%. Gulf Cement Company (GCEM) was up 1.6%, Emirates Telecommunications Company (ETISALAT) rose 1.4% to 18.05, Abu Dhabi Commercial Bank (ADCB), AGTHIA, and Ras Al Khaimah Cement Company (RAKCC) all up about 1%.

A short list of losers with Finance House PJSC (FH) at the top from just one trade. More significant falls for Sorouh Real Estate (SOROUH) down 1.3%, Aldar Properties PJSC (ALDAR) and Abu Dhabi National Energy Company (TAQA) down 1.1%, and Bank Of Sharjah (BOS) down 1%.

Posted by sharewadi at 14:11

Tuesday, September 25, 2007

UAE markets 25 Sep 2007

UAE market news & discussions for 25 September 2007

It was Air Arabia leading the show again today with vigorous trading and a solid 5.5% jump in price to 1.35. Both markets enjoyed a steady increase with Aldar Properties again dominating ADSM trading.

There was a report of Air Arabia finalising a deal to buy 40 new planes which may have prompted heavy trading yesterday and today, but the report is similar to one a couple of months ago. Speculation that third quarter earnings are up may also be driving trading.

Taqa have put in a bid of AED 18.3 billion for Canada's PrimeWest Energy Trust, reportedly a generous offer. PrimeWest shares in Canada stormed ahead 30%, Taqa shares in Abu Dhabi rose just 1% today on low turnover.

Happy Birthday to Commercial Bank International of Ras Al Khaimah and the 1 year anniversary of their new logo. That's hardly market moving business news but investors seemed to think otherwise with two days of robust trading and a decent increase in share price. Perhaps CBI's ambition to become the "largest banking institution operating in the UAE" had something to do with it. Currently they have a market cap of less than a tenth of the largest in the UAE - National Bank of Abu Dhabi with a Dh 30 billion market cap.

ADCB, FGB, NBAD, NBD are providing AED 1.7 bn of funding for the AED 3 bn Abu Dhabi Corniche Project being developed by International Capital Trading.

Amlak Finance had their 5% share buyback approved and share price was up 1.5% on heavy trading today. Shuaa released a one line statement that the DIFX was considering allowing listings for UAE companies, which was also reported a couple of months ago. The Kang Pacific Airways founder and CEO said IPO was planned for early next year.

The UAE dirham peg to the dollar was up on speculation that Saudi might revalue its riyal peg to the US dollar.

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

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best stock rises
symbol price change
NBF 4.89 +0.44 +9.9%
UNION 2.00 +0.17 +9.3%
ADNIC 8.75 +0.55 +6.7%
TKFL 4.11 +0.23 +5.9%
AIRARABIA 1.35 +0.07 +5.5%
worst stock falls
symbol price change
ASMAK 5.17 -0.49 -8.7%
EIC 8.25 -0.70 -7.8%
DNIR 3.47 -0.18 -4.9%
NCC 9.65 -0.50 -4.9%
RAKWCT 2.12 -0.05 -2.3%
top volume
symbol value (AED) price
AIRARABIA692,021,8081.35
ALDAR193,771,9047.47
EMAAR134,504,01110.85
DEYAAR121,751,8781.87
AMLAK115,097,2573.22

Dubai Financial Market

The DFMGI gained an encouraging 0.84% to close at 4267 with turnover up to AED 1.38 billion, half of that from trading in AIRARABIA which closed 5.5% up at 1.35.

Emaar Properties PJSC (EMAAR) saw a small gain of 1% to 10.85 and modest turnover of AED 135m. Other rises for AMAN up 2.2%, Tamweel PJSC (TAMWEEL) up 1.5%, Dubai Islamic Bank (DIB) up 1.3% with most other actively traded stocks rising less than 1%.

Three stocks fell, Dubai National Insurance & Reinsurance Co. (DNIR) & NCC down 5% from a total of just 3 deals, Union Properties PJSC (UPP) was the only actively traded loser, down 0.6% to 3.19.

Abu Dhabi Securities Market

A relatively quiet day on ADSM with turnover just AED 374m pushing the index up by 0.5% to 3493 points. Two-thirds of that from Aldar Properties PJSC (ALDAR), up 1% to 7.32. Oasis International Leasing Company PJSC (OILC) was next on the traded value list with just AED 36m dhs of deals done, and a 0.6% rise to 1.75.

Other rises for AGTHIA up 1.7%, Abu Dhabi National Energy Company (TAQA) up 1.1%, Commercial Bank International (CBI) up 0.8%, and Emirates Telecommunications Company (ETISALAT) up 0.6%. Nine stocks rose more than 2% but all on turnover of less than 1 million dhs each.

Falls of note for Ras Al Khaimah White Cement Company (RAKWCT) down 2.3%, ADNH down 2.1% on more than usual activity, AWNIC down 1%, also busier than usual.

Posted by sharewadi at 16:28

Monday, September 24, 2007

UAE markets 24 Sep 2007

UAE market news & discussions for 24 September 2007

Both the DFM and ADSM rose today with Aldar again trading heavily on a 2% increase. Commercial Bank International saw a solid rise on unusually active turnover. Air Arabia dominated trading on DFM and had a decent 2.4% rise. Arabtec also had a good day with 3% increase.

Borse Dubai and Nasdaq were reported to be seeking an alliance with the London Stock Exchange (LSE) while Qatar was reported to have increased its stake in the LSE to 24%.

Halliburton were reported to be interested in buying stakes in Gulf energy companies. With AED 300 billion to spend, they could buy Aabar Petroleum, Dana Gas, Gulf Petroleum Investments, Taqa, and still have enough left over to buy Mr Barker-Homek a new suit.

The DGCX was reported to be ready to launch a Pulses Futures contract by the end of 2007 or early 2008.

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

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best stock rises
symbol price change
NBF 4.45 +0.40 +9.9%
RAPCO 3.38 +0.28 +9%
CBI 2.49 +0.12 +5.1%
INVESTB 3.24 +0.14 +4.5%
ARTC 6.19 +0.19 +3.2%
worst stock falls
symbol price change
OEIHC 19.15 -0.85 -4.3%
UNION 1.83 -0.08 -4.2%
GFH 8.25 -0.35 -4.1%
NMDC 5.20 -0.22 -4.1%
FH 6.65 -0.25 -3.6%
top volume
symbol value (AED) price
AIRARABIA363,345,4951.28
ALDAR173,510,0827.39
DEYAAR84,138,3301.86
EMAAR77,829,67010.75
ARTC66,637,0796.19

Dubai Financial Market

The DFM index rose 0.25% to 4231 on average turnover of AED 855m with AIRARABIA responsible for close to half of that at AED 363m dhs worth and a 2.4% rise to 1.28.

Arabtec Holding PJSC (ARTC) was the best of the winners, not counting the single small trade for GPI, and rose 3.2% to 6.19. Other rises for Tamweel PJSC (TAMWEEL) up 2.3%; and GULFNAV, Union Properties PJSC (UPP), Aramex PJSC (ARMX) all up 1.6% on moderate turnover.

There were six losers, and apart from GFH which only had 2 small trades, were all down by less than 1%. Emaar Properties PJSC (EMAAR) fell 0.5% to 10.75 on low turnover of AED 78m.

Abu Dhabi Securities Market

The ADSM rose 0.5% to 3476 points from modest turnover of AED 313m, with a little over half of that from trading in Aldar Properties PJSC (ALDAR) which rose 2.2% to 7.42 dhs per share.

Commercial Bank International (CBI) rose 5.1% to 2.52 with turnover relatively high at 7m dhs. Abu Dhabi National Energy Company (TAQA), Dana Gas PJSC (DANA), Ras Al Khaimah Properties PJSC (RAKPROP), Emirates Telecommunications Company (ETISALAT), and AGTHIA all rose less than 1% on modest trading volumes.

The top losers were on turnover of less than 1m dhs each. ARKAN was the most actively traded stock to fall, dropping by just 0.6% to 1.68.

Posted by sharewadi at 14:07

Sunday, September 23, 2007

UAE markets 23 Sep 2007

UAE market news & discussions for 23 September 2007

Both markets barely moved today on moderate trading volumes with Aldar Properties and DFM shares the most heavily traded, both increasing slightly, while IAIC had a good rise on greater than usual turnover.

Amlak Finance released a statemen that they had submitted required documents to ESCA for their 5% share buyback. Share price was up slightly on thin trading. It looks like ShareWadi is not the only one to wonder why Amlak are doing this.

Net foreign and institutional investment in DFM stocks were both up last week, which one could see as an encouraging sign for the markets.

United Arab Bank released a statement saying that the Central Banks of both Qatar and the UAE had approved the purchase of a stake in UAB by the Commercial Bank of Qatar.

The excitement over the weekend about the new Borse Dubai-Nasdaq deal faded today although Qatar is still on the scene with speculation that the Qatar Investment Authority was increasing its stake in the OMX - not confirmed by the QIA though.

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

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best stock rises
symbol price change
IAIC 3.28 +0.16 +5.1%
QTEL 225.00 +9.00 +4.2%
FOODCO 3.86 +0.09 +2.4%
SCIDC 4.55 +0.10 +2.2%
FH 6.90 +0.14 +2.1%
worst stock falls
symbol price change
NRE 6.06 -1.07 -15%
ASMAK 5.66 -0.29 -4.9%
UNB 6.80 -0.25 -3.5%
MAZAYA 8.50 -0.25 -2.9%
INVESTB 3.10 -0.09 -2.8%
top volume
symbol value (AED) price
ALDAR267,868,4867.23
DFM212,962,3483.17
EMAAR143,623,20710.80
AIRARABIA138,333,0121.25
DEYAAR105,176,4821.85

Dubai Financial Market

The DFMGI was up by just 0.02%, or less than a single point, to 4221 from average turnover of AED 783m. DFM shares topped the value list with 213m dhs of trading and a 1.3% rise to 3.17, the Nasdaq-Borse Dubai news probably giving it a bit of impetus.

Islamic Arab Insurance Company PSC (IAIC) Salama insurance saw increased buying in the last hour of trading with a 5% rise in share price. The insider trading log today showed nothing so it doesn't appear to be more buying back of shares by Islamic Arab Insurance Company PSC (IAIC).

Amlak Finance Company (AMLAK), up by 1.3%, and Union Properties PJSC (UPP) up by 1% were the only other rises on turnover of more than 10m dhs. AIRARABIA and Arabtec Holding PJSC (ARTC) closed flat on moderate turnover.

ALMADINA was the only stock trading more than AED 1m dhs that fell more than 1% - it was down by 1.4% to 10.50. Emaar Properties PJSC (EMAAR) and DEYAAR fell 0.5% each. NRE went limit down on just one small trade.

Abu Dhabi Securities Market

ADSM saw the merest 0.01% fall to 3458, a drop of only a fifth of a point, on moderate turnover of 405m dhs. More than half of that from trading in Aldar Properties PJSC (ALDAR), which rose 2% to 7.35.

Other rises of note for Qatar Telecom (QTEL) up 4.2% to 225.00 from just 4 small trades, Sorouh Real Estate (SOROUH) up 0.9%, Oasis International Leasing Company PJSC (OILC) up 0.6%, and Emirates Telecommunications Company (ETISALAT) also up 0.6%.

Losers of note today were ASMAK down 4.9% to 5.52 from a handful of trades, Ras Al Khaimah Cement Company (RAKCC) down 1% to 2.06. Dana Gas PJSC (DANA) and First Gulf Bank (FGB) were at the top of the value traded list for stocks showing a loss, with both trading only about 5m dhs worth, and falls of just 0.6% and 0.4% respectively.

Posted by sharewadi at 14:36

Thursday, September 20, 2007

UAE markets 20 Sep 2007

UAE market news & discussions for 20 September 2007

The markets went in opposite directions today with ADSM up on solid volume, and DFM down on moderate volume. Aldar properties had a small rise with a 75% share of the turnover on ADSM.

Curiously, trading in Al Madina Finance shares was temporarily suspended pending an announcement of a deal to invest 300m dh in Africa's HITS Telecom.

Borse Dubai and Nasdaq announced a tie up which would mean Borse Dubai buys a stake in Sweden's OMX, Nasdaq would get the shares, Borse Dubai would end up with a stake in Nasdaq and the London Stock Exchange (LSE), and the DIFX would be rebranded with the Nasdaq name. The Swedish Government said the deal was "interesting" and would review it. The Qatar Investment Authority weighed in and urged OMX shareholders not to take up the Nasdaq-Borse Dubai deal, possibly indicating that the QIA would be making an offer themselves. They also said they'd already bought 20% of the LSE.

Dubai Financial Market and Abu Dhabi Securities Market index for 20 September 2007

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best stock rises
symbol price change
MAZAYA 8.75 +0.99 +12.8%
ASMAK 5.95 +0.22 +3.8%
NMDC 5.42 +0.17 +3.2%
UNB 7.05 +0.22 +3.2%
ARIG 3.50 +0.10 +2.9%
worst stock falls
symbol price change
IFA 12.00 -1.75 -12.7%
TKFL 3.92 -0.21 -5.1%
CBD 8.25 -0.35 -4.1%
FCI 4.35 -0.10 -2.2%
QCEM 2.76 -0.06 -2.1%
top volume
symbol value (AED) price
ALDAR374,396,6247.09
EMAAR219,283,86010.85
DEYAAR207,443,6591.86
AIRARABIA150,035,8611.25
DFM112,557,8643.13

Dubai Financial Market

The DFMGI fell by 0.56% to 4220 points on turnover of AED 862m. The top three traded stocks by value were Emaar Properties PJSC (EMAAR), down by 0.5% to 10.85, DEYAAR down by 1.6% to 1.86, and AIRARABIA down by 0.8% to 1.25.

Only 5 stocks rose in price and only Arabtec Holding PJSC (ARTC), up by 1.7% to 6.00, saw any reasonable turnover.

Tamweel PJSC (TAMWEEL) and Union Properties PJSC (UPP) fell by 1.3%, Emirates Integrated Telecommunications Company (DU), Amlak Finance Company (AMLAK), and DFM fell by 1% and the remainder fell by less than 1% or on minimal turnover.

Abu Dhabi Securities Market

A good day for the ADSM with a rise of 0.46% to 3459 points and turnover of AED 500m. Aldar Properties PJSC (ALDAR) dominated trading with AED 374m of turnover and a 1.9% rise to 7.10. Sorouh Real Estate (SOROUH) was next in line on turnover but with just AED 31m of trading and a 0.9% rise to 4.46.

Other decent rises on turnover of more than AED 1m for Invest Bank (INVESTB) up 1.9% and Abu Dhabi National Company for Building Materials (BILDCO) up 1.6%. Remaining increases were less than 1% or on turnover of less than AED 1m. Emirates Telecommunications Company (ETISALAT) was up by 0.3% to 17.50.

Only 8 stocks fell with the top 4 on less than AED 1m turnover. Other falls were First Gulf Bank (FGB) down by 0.7%, ARKAN 0.6% and Gulf Cement Company (GCEM) 0.5%.

Posted by sharewadi at 15:31

Wednesday, September 19, 2007

UAE markets 19 Sep 2007

UAE market news & discussions for 19 September 2007

A very positive day on UAE markets today. The DFM index finished up 1.27% on strong trading volume and the ADSM index also finished higher by 0.40% on more modest volume.

The Taqa CEO said foreign ownership of shares may come by 2012 - a few years later than what he said in June. He also said Taqa may seek further listings on foreign markets by then.
Air Arabia shares were said to be about 35% undervalued by a Deutsche Bank report. At current price of about 1.25 dhs/share, Air Arabia shares look to be twice as expensive as the market average based on PE, but cheaper based on Book Value.

The US Fed cut interest rates by 50 basis points (0.5%), surprising some who expected only a 25 point cut, and prompted stockmarket rises around the world. Abu Dhabi Securities Market (ADSM) has launched a new, improved, version of their website at web.adsm.ae.

Dubai Financial Market and Abu Dhabi Securities Market index for 19 September 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
MAZAYA 7.76 +1.01 +15%
ASMAK 5.73 +0.52 +10%
OEIHC 20.30 +1.60 +8.6%
TKFL 4.13 +0.23 +5.9%
NCTH 4.21 +0.19 +4.7%
worst stock falls
symbol price change
ARIG 3.40 -0.13 -3.7%
UNION 1.91 -0.04 -2.1%
AKIC 1.56 -0.03 -1.9%
DRIVE 3.09 -0.05 -1.6%
INVESTB 3.13 -0.03 -0.9%
top volume
symbol value (AED) price
DEYAAR352,126,6651.89
AIRARABIA286,290,0621.26
EMAAR254,728,17710.90
DFM148,774,9763.16
ALDAR125,978,8996.96

Dubai Financial Market

The DFM index finished at 4,244 a rise of 1.27% from the previous close. 550 million shares traded worth 1.2 billion dirhams. Twenty shares advanced and one declined.
The top traded shares were AIRARABIA rising 4.13% to 1.26 dirhams on volume of 229 million shares traded and DEYAAR rising 1.06% to 1.89 dirhams on volume of 186 million shares traded.

Other shares to rise included: DFM 3.16 (2.26%), Dubai Investments PJSC (DIC) 4.46 (0.45%), Emaar Properties PJSC (EMAAR) 10.90 (2.83%) and GULFNAV 1.26 (0.80%).

Arab Insurance Group (ARIG) was the only share to fall, closing at 3.40 dirhams on modest volume.

Abu Dhabi Securities Market

The ADSM index finished at 3,443 a rise of 0.40% from the previous close. 62 million shares traded worth 270 million dirhams. Twenty seven shares advanced and ten declined.
The top traded share was Aldar Properties PJSC (ALDAR) rising 1.46% to 6.96 dirhams on volume of 18 million shares traded.

Other shares to rise included: Dana Gas PJSC (DANA) 1.60 (1.27%), Oasis International Leasing Company PJSC (OILC) 1.72 (0.58%), and Ras Al Khaimah Properties PJSC (RAKPROP) 1.60 (1.27%).

Shares to fall included: Abu Dhabi Islamic Bank (ADIB) 52.25 (0.57%), Union National Bank (UNB) 6.83 (0.29%) and UAB 7.19 (0.14%).

Posted by sharewadi at 16:24

Tuesday, September 18, 2007

UAE markets 18 Sep 2007

UAE market news & discussions for 18 September 2007

Both UAE markets increased slightly today on improving volumes.

Emaar released news about their new Dubai CEO 0... 3 weeks after we already heard. And in the same vein of timely corporate disclosures, we get news of the AED 4.6 billion Meydan contract awarded to the Arabtec joint venture, 3 weeks after Arabtec denied the first report. The contract looks like it could be worth an extra 2 dhs on Arabtec's current share price, but the market wasn't quite so responsive.

Etisalat said they were going to reduce staff numbers in Pakistan Telecom after profits fell. Etisalat and Zain (Kuwait) have submitted their bids for Qatar's second mobile license. Zain's CEO said they were not going to overbid and so did not expect to win the license. Etisalat's Chairman said they would "compete fiercely" for the licence.

Dubai Financial Market and Abu Dhabi Securities Market index for 18 September 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
NBF 4.05 +0.35 +9.5%
ADSB 3.23 +0.20 +6.6%
CBD 8.60 +0.38 +4.6%
INVESTB 3.16 +0.10 +3.3%
DEYAAR 1.87 +0.05 +2.7%
worst stock falls
symbol price change
ASMAK 5.21 -0.52 -9.1%
ADNIC 8.05 -0.45 -5.3%
FOODCO 3.77 -0.18 -4.6%
NMDC 5.10 -0.20 -3.8%
RAKBANK 7.00 -0.20 -2.8%
top volume
symbol value (AED) price
DEYAAR516,471,3361.87
AIRARABIA118,276,4391.21
DFM70,409,5213.09
EMAAR39,924,15510.60
GULFNAV37,751,0391.25

Dubai Financial Market

The DFM index closed at 4,190 an increase of 0.36% from the previous close. 455 million shares traded worth 900 million dirhams. Thirteen shares advanced and six declined.
The top traded share was DEYAAR rising 2.74% to 1.87 dirhams on turnover of 278 million shares traded.

Other shares to rise included: AIRARABIA 1.21 (1.68%), Dubai Investments PJSC (DIC) 4.44 (0.68%), Emaar Properties PJSC (EMAAR) 10.60 (0.47%)

Shares to fall included: DFM 3.09 (0.32%), Tamweel PJSC (TAMWEEL) 3.83 (0.51%) and ARABTEC 5.80 (0.34%)

GULFNAV finished steady at 1.25 on volume of 30 million shares traded.

Abu Dhabi Securities Market

The ADSM index closed at 3,429 an increase of 0.37% from the previous close. 33 million shares traded worth 140 million dirhams. Eighteen shares advanced and twelve declined.
The top traded share was ARKAN finishing steady at 1.69 dirhams on turnover of 4.5 million shares traded.

Shares to rise included: ABAR 3.65 (0.83%), Aldar Properties PJSC (ALDAR) 6.86 (0.44%), Dana Gas PJSC (DANA) 1.58 (0.64%) and UAB 7.20 (0.14%).

Shares to fall included: Abu Dhabi Commercial Bank (ADCB) 6.08 (0.65%) and NBS 2.90 (1.02%)

Oasis International Leasing Company PJSC (OILC) 1.71 finished steady on reasonable turnover.

Posted by sharewadi at 15:25

Monday, September 17, 2007

UAE markets 17 Sep 2007

UAE market news & discussions for 17 September 2007

Both UAE markets closed higher today on subdued trading volume.

There is speculation that Deyaar would allow foreign ownership of their shares from next year, which would seem to contradict what the CEO said back in April.
Iran's new oil minister said the same thing as the old oil minister about the price of gas that Crescent Petroleum (a Dana Gas affiliate) has contracted to buy, but didn't say if Iran had finished building their end of the pipe yet.
DU Telecom said they had clocked up 850,000 subscriptions which appears to be a greater than 10% market share.
MashreqBank (or Mashreq as it's now known) are reported to be investigating the purchase of a stake in Egypt's Banque du Caire.

Dubai Financial Market and Abu Dhabi Securities Market index for 17 September 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
GRAND 4.40 +0.57 +14.9%
ABNIC 8.47 +0.77 +10%
ASMAK 5.73 +0.52 +10%
UNION 1.95 +0.15 +8.3%
ADNIC 8.50 +0.45 +5.6%
worst stock falls
symbol price change
INVESTB 3.06 -0.13 -4.1%
FH 6.71 -0.28 -4%
NBS 2.93 -0.06 -2%
RAKBANK 7.20 -0.14 -1.9%
NBAD 18.65 -0.35 -1.8%
top volume
symbol value (AED) price
EMAAR194,027,08710.55
DEYAAR158,044,8811.82
DFM47,772,9073.10
ALDAR30,523,0936.83
DIC26,618,2514.41

Dubai Financial Market

The DFM index closed at 4,175 a rise of 0.31% from the previous close. 164 million shares traded worth 517 million dirhams. Fifteen shares advanced and four declined.
The top traded share was DEYAAR rising 1.67% to 1.82 dirhams on turnover of 87 million shares.

Other shares to rise included: DFM 3.10 (0.97%), Dubai Investments PJSC (DIC) 4.41 (0.68%) and Emaar Properties PJSC (EMAAR) 10.55 (0.47%).

Shares to fall included Amlak Finance Company (AMLAK) 3.13 (0.31%), Islamic Arab Insurance Company PSC (IAIC) 3.10 (0.32%), ARAMEX 2.53 (0.39%).

Abu Dhabi Securities Market

The ADSM index closed at 3,417 a rise of 0.09% from the previous close. 29 million shares traded worth 141 million dirhams. Sixteen shares advanced and eighteen declined.
The top traded share was Aldar Properties PJSC (ALDAR) rising 0.15% to 6.83 dirhams on turnover of 4.4 million shares.

Other shares to rise included: First Gulf Bank (FGB) 13.95 (0.72%), Oasis International Leasing Company PJSC (OILC) 1.71 (0.59%), Sorouh Real Estate (SOROUH) 4.38 (0.46%).

Shares to fall inlcluded: Abu Dhabi Commercial Bank (ADCB) 6.12 (0.65%), Dana Gas PJSC (DANA) 1.57 (0.63%), Ras Al Khaimah Properties PJSC (RAKPROP) 1.56 (0.64%), Ras Al Khaimah Cement Company (RAKCC) 2.04 (0.97%) and NBS 2.93 (2.01%)

Posted by sharewadi at 15:33

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