UAE market news & discussions for 31 January 2008The Dubai Financial Market rose on moderate trading with their own shares standing out on turnover and a 7.6% hike in share price. Dubai Islamic Bank also performed well after releasing 2007 results. The Abu Dhabi market fell slightly with no standout stocks. DPW shares rose 1% to $0.97 today. Goldfields was the only other stock traded on the DIFX, rising by 1.3%. A report from Morgan Stanley gave positive ratings to three Abu Dhabi bank stocks with First Gulf Bank their top pick, and ADCB and UNB the other two. FGB shares rose 1% to 22.30 today. De peg or not de peg? Dat is de question in Qatar, who were today reported to be considering keeping the peg, after yesterday's reports they might ditch it. The Emaar-MGF IPO in India, which was due to launch tomorrow (Friday), will have the offer price reduced. Originally $15.50 to $17.50 per share, it will now be $13.70 to $16.00. Borse Dubai's new friends, the Nasdaq and the OMX both released profit news. Up for the US market but down for Sweden's exchange. The US Fed cut interest rates by another 0.5%, as expected by many. The UAE and Kuwait did the same today. Mr Donald Tsang, the Chief Executive of Hong Kong, is visiting Dubai with a trade delegation to investigate investment opportunities. Which makes for a nice change from March last year when he seemed to think Dubai was largely irrelevant as a financial center in an interview published in TIME magazine. 2007 final results released today
Yesterday's results list
See the ShareWadi calendar for meetings and results due next week Latest topics updated on DubaiShareTalk |
- 31 January 2008 shares and financial news for DFM and ADSM
- AABAR 2007 FY profit AED 290m misses forecast? - 30 Jan 2008
- DANA 2007 FY profit AED 110m -86% 31 Jan 2008
- DANA - Iran says gas coming in 2008 - MNA 05 Dec 07
- DIB 2007 FY profit AED 2.5bn +60% 30 Jan 2008
- Dubai Financial Market General Index (DFMGI) Comments 01 Dec 07
- EIB 2007 FY profit +103% to AED 239m - 30 Jan 2008
- RAKPROP 2007 FY profit AED 500m +5% 31 Jan 2008
- Share valuations to be regulated by ESCA - EB 31 Jan 08
- SOROUH 2007 FY profit AED 1.26 bn beats forecasts - 30 Jan 2008
- 30 January 2008 shares and financial news for DFM and ADSM
More UAE stock market news and discussions...
|
|
|
Dubai Financial Market
The DFMGI rose 1.5% to 5617 from turnover of AED 2.7 billion with DFM shares topping both the gainers and turnover list. Share price was up 7.6% to 5.78 and AED 1.13 billion of trading.
Other rises of note for Emirates NBD (ENBD) up 4.7%, Tabreed (TABREED) up 4.4%, Dubai Islamic Bank (DIB) up 3.8%, Islamic Arab Insurance (IAIC) up 2.2% and the remaining gainers rising less than 2% or on thin trading.
Only 6 stocks fell, including Emaar Properties (EMAAR) which lost 2.4% to close at 12.00.
Abu Dhabi Securities Market
The ADSM index fell 0.34% to close at 4570 with turnover a low AED 488 million. No starts in the gainers list today, the top 9 risers all on less than AED 1 million of trading. First Gulf Bank (FGB) was next with a 1.1% rise to 22.00 and another 4 stocks rose less than 1%.
ADNIC copped a bit of a beating, falling 10% to 9.45 but from just 4 trades and just over AED 1 million of turnover. RAK Cement (RAKCC) stood out a bit with moderate trading and a 2.3% fall. Most of the more active stocks fell less than 2%. Etisalat (ETISALAT) closed flat at 23.85.
- Comment on this report and view previous reports on the Share Wadi blog.
- Discuss UAE companies at Dubai Share Talk.