UAE market news & discussions for 06 March 2008Both the DFM and ADSM stock markets rose slightly today with Sorouh Real Estate and Abu Dhabi Islamic Bank on the ADSM standing out with close to 4% rises and sturdy turnover, while Union Cement Company traded 10% limit up today on higher than usual turnover. There were no stand out movements on the DFM. On the DIFX, DP World shares were down 5% to $0.79 so far today but Gold Fields rose almost 7% from a handful of trades. HSBC brokerage said they had received approval from ESCA to offer broker services on the DFM and ADSM. Retail investors will have to wait a while longer before being able to trade through them though. Aabar said they had received an offer from Mubadala for 100% of their Pearl Energy holding (previously it was 90%). Dubai Financial Market signed another cross listing MoU, this time with the Karachi Stock Exchange. Their MoU box spilleth over ... Here is a further list of DFM ADSM DIFX disclosures and market news for today. Latest posts on DubaiShareTalk |
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- 06 March 2008 ADSM DFM DIFX disclosures & news
- AABAR to sell Pearl Energy for AED 3.2 bn? 13 Jan 08
- AABAR trading 05 Mar 08
- ADSB UAE Coast Guard Al Saber project - GN 06 Mar 08
- ALDAR 2007 FY profit +55% to AED 1.9 bn, misses forecasts - 22 Jan 08
- DFM signs MoU with Karachi stock market - PR 06 Mar 08
- DP World - learn from Reliance Power bonus shares 18 Feb 08
- EMAAR - Burj Dubai delay R 04 Mar 08
- HSBC first (?) international broker for ADSM & DFM - BB 30 Sep 2007
- Insider trades March 2008
- Marketwatch ADSM March 2008
- Marketwatch DFM March 2008
- Sorouh is the new market leader on the ADSM!
- UNB 2007 FY profit forecast +7.8% to AED 1.01 bn (TNI)
- Visa IPO
More UAE stock market news and discussions...
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Dubai Financial Market
Another relatively muted day for the DFM with the index rising 0.48% to 5832 from turnover of only AED 842 million. Emaar Properties (EMAAR) and DFM saw the greatest turnover, rising 0.84% to 12.05 and 1.3% to 6.04 respectively. AMAN had the greatest rise in the more actively traded list but that was still only 2.6% to 27.20. Dubai Investments (DIC) and GULFNAV rose 1.9%, Islamic Arab Insurance (IAIC) 1.7%, and most of the other actively traded stocks rose less than 1.5%.
Commercial Bank of Dubai (CBD) fell by 4.7% to 11.20 - the biggest drop on turnover of more than AED 1 million. Arabtec (ARTC) fell 2.4% to 12.00, GGICO saw heavy insider trading and fell 1.05% to 14.10, another 4 stocks fell by less than 1% while Arab Insurance Group (ARIG) and GFH had large falls on thin trading.
Abu Dhabi Securities Market
The ADSM index rose 0.66% to 4853 on turnover of AED 1.1 billion - more than in Dubai which was unusual. Sorouh Real Estate (SOROUH) and Abu Dhabi Islamic Bank (ADIB) led the way, both with more than AED 200m of turnover, and rises of 3.8% to 10.95 and 3.9% to 65.50 respectively. Union Cement (UCC) volumes jumped with trading at 4.66 at 10% limit up for the day, and no sellers in the queue. ADAVIATION was another hot stock with heavy trading and a 3.8% rise to 5.59. A couple more obscure stocks saw a bit more activity with NBS up 2.4% and Gulf Cement (GCEM) up 2.1%. Another 16 stocks rose less than 2% with most of the more actively traded stocks gaining less than 1%.
National Marine Dredging (NMDC) topped the losers list on turnover of more than AED 1 million, with a 3.1% fall to 8.65. RAK White Cement (RAKWCT) dropped by 1.3%, ARKAN by 0.76%, Abu Dhabi Commercial Bank (ADCB) by 0.46%, and Etisalat (ETISALAT) by 0.4% to 24.75.
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