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

Wednesday, February 06, 2008

UAE markets 06 Feb 2008

UAE market news & discussions for 06 February 2008

UAE Stock Markets followed world Markets down today. The DFM index fell by 2.62% and the ADSM index fell by 1.29%. Trading volume was high on the DFM but subdued on the ADSM.

On the DFM some of the most traded shares fell including EMAAR down 3.96%, DFM down 5% and AMLAK down 4.59%.
On the ADSM, ALDAR, DANA, OILC and RAKPROP were all down by more than 3%.

General Business News.
Bear Sterns the first Investment Bank to report sub prime losses last year joined the list of pundits predicting a dirham revaluation this year.
Folowing more bad figures for the US economy oil extended its decline below $88 a barrel.
According to Ernst & Young the issuance of global Islamic Bonds is likely to double to $100b this year and the sum of Islamic assets will hit $2 trillion by 2010.

RESULTS:
SHUAA 2007 Q3 Net Profit AED 341.6m up 120% from 2006 Q3 Net Profit AED154.6m



Dubai Financial Market and Abu Dhabi Securities Market index for 06 February 2008

More UAE stock market news and discussions...

best stock rises
symbol price change
MAZAYA 10.00 +0.75 +8.1%
GRAND 4.50 +0.30 +7.1%
GGICO 12.30 +0.45 +3.8%
DRIVE 5.65 +0.19 +3.5%
SHUAA 6.84 +0.22 +3.3%
worst stock falls
symbol price change
ASMAK 6.02 -0.52 -8%
IAIC 3.58 -0.24 -6.3%
EIC 9.40 -0.60 -6%
DFM 5.70 -0.30 -5%
UPP 4.70 -0.23 -4.7%
top volume
symbol value (AED) price
SOROUH451,282,2838.95
EMAAR436,116,29512.10
DFM348,706,6725.70
ALDAR244,028,50411.00
AIRARABIA184,578,6532.04

Dubai Financial Market

The DFM index closed at 5,713 a fall of 2.62% from the previous close. 418 million shares were traded worth 2.05 billion dirhams. Five shares advanced and nineteen declined.
The top traded share was AIRARABIA falling 2.39% to 2.04 dirhams on volume of 90 million shares traded.

Other shares to fall included: Amlak Finance (AMLAK) 4.78 (4.59%), DEYAAR 2.56 (2.66%), DFM 5.70 (5.00%), Emaar Properties (EMAAR) 12.10 (3.96%) amn Islamic Arab Insurance (IAIC) 3.58 (6.28%).

Shares to advanced included GGICO 12.30 (3.79%) and Shuaa Capital (SHUAA) 6.84 (3.32%).

Abu Dhabi Securities Market

The ADSM index closed at 4,690 a fall of 1.29% from the previous close. 176 million shares were traded worth 1.07 billion dirhams. Four shares advanced and thirty declined.
The top traded share was RAK Properties (RAKPROP) falling 3.77% to 2.57 dirhams on volume of 22 million shares traded.

Other shares to fall included: Aldar Properties (ALDAR) 11.00 (3.06%), Dana Gas (DANA) 2.33 (3.31%), Oasis Leasing (OILC) 2.56 (3.40%) and Sorouh Real Estate (SOROUH) 8.95 (0.33%).

Shares to rise included: Etisalat (ETISALAT) 23.90 (1.04%) and DRIVE, UNION and Union Cement (UCC) all rose on small trading volume.

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