UAE market news & discussions for 14 February 2008Contrary to the color of all the roses floating about town today, the markets were green, with Sharjah Cement topping the charts in Abu Dhabi with some busy trading. Even DPW shares which earlier this week were looking like nobody was going to be sending them valentines cards, recovered by 6% to close at $0.87 today. The Ajman Bank IPO starts on Sunday next week. We wish them all best. So far their newspaper adverts this week directed investors to a website that didn't exist for further IPO details. And then when the correct one was eventually found, there were no IPO details there anyway. The Al Mithaq Insurance IPO which closed last week, was reported to be 43x oversubscribed, and a listing date expected in March 2008 on the ADSM. There is a new newsfeed on the ShareWadi.com site to replace the DubaiShareTalk.com daily news summary. Accesing this page should give the latest relevant news links in real time. Result updates
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DubaiShareTalk latest updated topics |
- New format for latest news from 14 Feb 08
- DFM ADSM disclosures 14 Feb 08
- ADSM reviews 2007 - PR 12 Feb 2008
- AEIBANK 2007 FY profit AED 26m -26% Q4 13m +944% - 31 Jan 2008
- Air Arabia 2007 profits
- Ajman Bank IPO
- DIN 2007 FY results - not reviewed yet 14 Feb 08
- DU 2007 FY results
- ENBD 2007 FY profit +35% to 3.95 bn - 13 Feb 08
- Insider trades February 2008
- Mithaq IPO
- TABREED 2007 FY profit down 30% to AED 70m
- Where is EMAAR price heading to?
- 13 February 2008 UAE Dubai, Abu Dhabi business news
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Dubai Financial Market
The DFM index rose a sturdy 1.5% from increased turnover of AED 2.27 bn with DFM own shares at the top of the traded value charts, seeing AED 543 million dhs worth and a hefty 4.4% rise to 5.90. Other gains of note for AMAN up 5% to 28.35, GGICO up 4.1% to 13.85 with much greater than usual activity, Dubai Islamic Bank (DIB) up 3.9%, and Arabtec (ARTC) up 3.7%. Emaar Properties (EMAAR) rose 2.70 to 11.40 on modest trading levels.
Only 5 stocks fell, and only Emirates NBD (ENBD) fell more than 1% on turnover of more than AED 1m. Their shares closed 2.3% down at 14.60.
Abu Dhabi Securities Market
The ADSM was up a less exciting 0.8% but turnover was a healthy AED 1.5 billion. Sharjah Cement (SCIDC) stood out with a massive 10% gain to 6.27 from AED 14m turnover - its highest since June 2007. ARKAN also had a solid day with AED 592m of trading and a robust 4.7% rise to 4.04. UAB rose 2.1% and the remaining gainers rose less than 2% or on low volumes.
Only 3 losers stood out from the list of 13. Union National Bank (UNB) and AGTHIA with 1% falls, and Aabar Petroleum (AABAR) with a fall of just 0.4%. The other losers trading less than 1m dhs worth of shares.
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