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

Sunday, February 24, 2008

UAE markets 24 Feb 2008

UAE market news & discussions for 24 February 2008

A subdued days trading on UAE markets today with the DFM index slightly down and the ADSM index up by 0.50 per cent. Volume traded was steady with slightly more than 3 billion dirhams worth of shares changing hands across both markets.

On the DFM, the top traded share was DEYAAR rising 5.11% to 2.67 dirhams on volume of 174 million shares traded.
On the ADSM, the top traded share was DANA rising 2.55% to 2.41 dirhams on volume of 70 million shares traded.

Inflation/Revaluation: Two stories today that underline the difficulties of the GCC currency peg with the dollar. In Saudi prices rose by 1.36% in January the fastest month on month increase in 9 years. Annualised this would put inflation at 16.3%.
Basic food prices are up 36% from last year in the UAE. According to economists currency reforms are the only meaningful way to slow the rate of increase.

Al Qudra an Abu Dhabi based Investment Company, flags expansion plans and confirms an IPO in the near future.

DFM Company Announcements
(ARTC) Arabtec EEC JV receives a Letter of Acceptance from DAMAC in Jordan.
(EMAAR) Emaar Properties: releases agenda of its AGM being held on 19/3/2008

ADSM Company Announcements
(QTEL) Qatar Telecom issues press release on annual 2007 financial results and dividend proposal
(QTEL) Qatar Telecom discloses financial statements for the year ended 2007, AED 1.6 bn down 1.1% from FY2006

Dubai Financial Market and Abu Dhabi Securities Market index for 24 February 2008

More UAE stock market news and discussions...

best stock rises
symbol price change
MAZAYA 12.65 +1.65 +15%
FCI 6.27 +0.57 +10%
RAPCO 4.45 +0.40 +9.9%
DRIVE 5.65 +0.50 +9.7%
ADAVIATION 4.23 +0.35 +9%
worst stock falls
symbol price change
AAAIC 131.50 -14.50 -9.9%
UNION 3.25 -0.29 -8.2%
AKIC 1.71 -0.06 -3.4%
SHUAA 6.50 -0.20 -3%
CBI 3.09 -0.08 -2.5%
top volume
symbol value (AED) price
EMAAR672,320,82312.60
DEYAAR463,085,4522.67
ARKAN233,513,4214.23
DFM215,886,2436.19
DANA170,302,0762.41

Dubai Financial Market

The DFM index closed at 5,885 today a slight fall of 0.15% from the previous close. 467 million shares were traded worth 2.05 billion dirhams. Ten shares advanced and fourteen declined.
The top traded share was DEYAAR rising 5.11% to 2.67 dirham on volume of 174 million shares traded.

Other shares to rise included: GULFNAV 1.65 (0.60%), Commercial Bank of Dubai (CBD) 15.20 (4.82%) and Dubai Investments (DIC) 5.77 (0.34%).

Shares to fall included: Amlak Finance (AMLAK) 4.86 (1.41%), DFM 6.19 (0.80%), Emaar Properties (EMAAR) 12.60 (0.39%) and Union Properties (UPP) 4.75 (0.41%).

Abu Dhabi Securities Market

The ADSM index closed at 4,820 today a rise of 0.47% from the previous close. 253 million shares changed hands worth 1.06 billion dirhams. Nineteen shares advanced and twenty four declined.
The top traded share was Dana Gas (Dana Gas (DANA)), rising 2.55% to 2.41 dirhams on volume of 70 million shares traded.

Other shares to rise included: ARKAN 4.23 (2.67%), Etisalat (ETISALAT) 25.10 (1.21%) and RAK Properties (RAKPROP) 2.74 (0.74%).

Shares to fall included: Aabar Petroleum (AABAR) 4.67 (0.64%), Sorouh Real Estate (SOROUH) 10.25 (0.49%), Oasis Leasing (OILC) 2.77 (1.07%) and Aldar Properties (ALDAR) 11.75 (0.84%).

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