UAE market news & discussions for 01 June 2008Both the DFM and ADX saw gains on solid turnover today with Gulf Navigation rising high on heavy trading in Dubai, and RAK Cement continuing its bull run in Abu Dhabi.
Agenda for this week Dubai Share Talk latest posts |
- 30 May - 01 Jun 2008 ADSM DFM DIFX disclosures & news
- 2008 Q1 UAE financial results
- Abyaar listing on DFM
- ADX bargain stocks warning - EB 30 May 08
- Amar Holding Company
- Amlak - Mazaya Sky Gardens deal collapses
- DFM net foreign investment Dh280 last week
- DIFX minimum broker commission
- DP World completes Chennai purchase
- DPW annual general meeting
- Emaar MGF Boulder Hills
- Emaar MGF IPO again
- EMAAR shares - time to buy?
- Insider trades June 2008
- Marketwatch ADX DFM June 2008
- Silverjet flights suspended
- TABREED 2008 Q1 profit AED 10m -53% 01 Jun 2008
- Tamweel Properties
More UAE stock market news and discussions...
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Dubai Financial Market
The DFMGI had an encouraging start to the week with substantially increased turnover at AED 1.7 billion and a 1.1% gain to 5741 points. GULFNAV was the shining stock today at the top of the traded value list with AED 402 million of turnover, while gaining a very respectable 5% to close at 1.88. The newly listed EKTITTAB saw a large 9.6% gain to 4.10 while trading relatively high volumes for a secondary listing.
Other notable gains for Amlak Finance (AMLAK) up 2.9% to 4.96, AIRARABIA up 2.5% to 2.04, and taking number 2 and 3 spots on the traded value list. SALAM_BAH rose 4% to 2.60, AMAN was up 2.5% to 36.95, Tamweel (TAMWEEL) was up 2% to 8.20, Aramex (ARMX) and Dubai Investments (DIC) 1.9%, DFM 1.4%, Emaar Properties (EMAAR) 1.3%, and the remainder less than 1% or on thin turnover. WARE was limit up from 2 small trades.
There were only 4 losers today, and only Union Properties (UPP) dropped more than 1% on turnover greater than AED 1 million - ending the day down by 1.3% at 5.17.
Abu Dhabi Securities Exchange
The ADX rose by 0.47% to 5062 with turnover down from last week, at AED 1.9 billion, but still ahead of the DFM. RAK Cement (RAKCC) dominated the trading floor again with just under AED 0.5 billion worth of deals and a big 6.2% jump to 3.44.
Union Cement (UCC) rose 4.8% to 5.00, ADAVIATION was up 4.05% to 5.95, and Commercial Bank International (CBI) by 3.6% to 2.75, QCEM by 2.5% to 3.20, all 4 stocks trading more than AED 1 million worth but not that much.
Much greater turnover seen for First Gulf Bank (FGB) rising 2.3% to 25.00, Oasis Leasing (OILC) up by 2.3% to 2.65, METHAQ up by 2.3% to 4.07, RAK White Cement (RAKWCT) up by 2.2% to 2.80, Aldar Properties (ALDAR) up by 1.6%. The remaining gainers were up by less than 1% or on thin turnover. Etisalat (ETISALAT) had a small 0.24% gain to 20.90 on low volumes.
The top 6 losers all fell on turnover of less than AED 1 million each. Then came AGTHIA with a 2.1% fall to 2.76, Julphar (JULPHAR) down by 1.8%, Abu Dhabi Commercial Bank (ADCB) 1.5%, RAK Poultry (RAPCO) 1.2%, and another 4 stocks falling less than 1%.
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