UAE market news & discussions for 28 April 2008All three UAE markets headed south today although there were some standout stocks in Abu Dhabi with Finance House and Abu Dhabi National Hotels showing big gains on heavy trading, while Arkan Building Materials saw an astonishing AED 540 million worth of activity but only rose a small amount. On the DIFX, Depa suffered a big 5.3% hit to close at 1.41 while DP World fell by just $0.01. There was little of note on the DFM today except perhaps Emaar's 2.5% fall, but on low turnover. Several companies released 2008 first quarter results today. A brief summary (more in the forum and list of results reports):
On the schedule for tomorrow (see the ShareWadi calendar for more):
DubaiShareTalk topics |
- Abu Dhabi Securities Market vs. New York Stock Exchange
- ADAVIATION 2008 Q1 profit AED 8.9m +40% 28 Apr 2008
- Deyaar to get new CEO soon? 23 Apr 08
- DIFX market depth & volume
- DPW have taken off...
- EIB 2008 Q1 profit AED 150m +254% 28 Apr 2008
- EIC 2008 Q1 profit AED 66m +75% 28 Apr 2008
- GFH 2008 Q1 profit AED 430m +61% 28 Apr 2008
- GLOBAL and GIC buy stake in Alumco - PR 26 Apr 08
- Insider trades April 2008
- Is it really possible to make a living as a day trader at DFM/ADSM?
- JULPHAR 2008 Q1 profit AED 43m +37% 27 Apr 2008
- RAPCO 2008 Q1 profit AED 42m +21% 28 Apr 2008
- MAZAYA 2008 Q1 profit AED 190m +300% 28 Apr 2008
- MAZAYA capital increase 23.7% - EB 05 Mar 08
- NGI 2008 Q1 profit AED 14m +79% 28 Apr 2008
- 28 April 2008 ADSM DFM DIFX disclosures & news
More UAE stock market news and discussions...
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Dubai Financial Market
The DFMGI fell 1.2% to 5715 points from subdued turnover of AED 936 million. DFM shares were the most heavily traded with AED 300 million worth of deals, and a 1.3% fall to 6.01. Emaar Properties (EMAAR) fell 2.5% to 11.60 on muted trading while Amlak Finance (AMLAK) was the worst loser, down by 3.65% to close at 4.75. Other stocks to fall included Tamweel (TAMWEEL) down by 2.4%, Tabreed (TABREED) down by 2.3%, Shuaa Capital (SHUAA) down by 2.1% and SALAM_BAH down by 2.0%. Most other stocks fell less than 2%.
Only 3 stocks rose today, Global Investment House (GLOBAL) leapt up from a single small trade, Arab Insurance Group (ARIG) from a handful of trades, and Arabtec (ARTC) up by just 0.63% to close at 15.95.
Abu Dhabi Securities Market
The ADSM shed less blood than the DFM, falling by just 0.41% to end just below 5000 points with turnover ahead of the Dubai bourse at AED 1.3 billion. ARKAN was responsible for AED 543 million of that, as their shares climb ever higher, rising by 1.3% to 4.74.
Big gains on heavy trading today for Finance House (FH) up 7.7% to 12.90 (punters perhaps attracted by the very low PE), and ADNH up 6.8% to 14.15. ADNIC traded just over 1m dhs worth and rose 6.2% to 9.90 and the remaining gainers saw less than AED 1 million of traded value, or rose less than 1%. Etisalat (ETISALAT) shares were unchanged at 21.75.
ASMAK stood out in the loser's list with just over AED 1 m of turnover and a 3.65% fall to 13.85. Aldar Properties (ALDAR) also had an unpleasant day with a 3.35% fall to 11.60. Abu Dhabi National Energy (TAQA) was not so hot either with a 2.7% fall to 3.25 ahead of Q1 results announcement on Wednesday this week. Oasis Leasing (OILC) suffered a 2.5% fall to 2.29, AGTHIA was down 1.95%, Dana Gas (DANA) 1.9%, Aabar Petroleum (AABAR) and Union National Bank (UNB) 1.8%, RAK Properties (RAKPROP) 1.75%, and the remainder falling less than 1.5% or on thin trading volumes.
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