UAE market news & discussions for 02 June 2008Both the ADX and DFM rose again today, with solid trading and several good gains at the DFM, however, it was RAK Cement that stood out overall with volumes way in excess of any other listed stock and a big gain. On the DIFX at 3:30pm, DP World is down $0.01 to $0.99, and Depa is up $0.01 to $1.59. Other news...
Agenda for this weekMonday, 02 June 2008 AMAN last trading day for stock split eligibility Tuesday, 03 June 2008 ASNIC rights issue subscription period. Wednesday, 04 June 2008 AMAN record date for 10:1 stock split Thursday, 05 June 2008 Al Salam Bank Sudan listing date DFM DubaiShareTalk latest posts |
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- 02 Jun 2008 ADSM DFM DIFX disclosures & news
- AMLAK to buy Sky Gardens for AED 1.65 bn? 07 May 08
- DANA Hamriya pipeline complete
- Drake & Scull IPO June 2008
- Insider trades June 2008
- Marketwatch ADX DFM June 2008
- TABREED 2008 Q1 profit AED 10m -53% 01 Jun 2008
- TAQA convertible bond AED 4.15 bn
- 30 May - 01 Jun 2008 ADSM DFM DIFX disclosures & news
More UAE stock market news and discussions...
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Dubai Financial Market
The DFMGI was up again today, rising by 1.26% to close at 5813 points with turnover up to a solid AED 2.3 billion. Amlak Finance (AMLAK) shares dominated trading with AED 626 million worth and a decent 3.8% increase to 5.15. A couple of other heavily traded stocks were Dubai Investments (DIC) up 4.0% to 3.94, and Tamweel (TAMWEEL) up 3.7% to 8.50, while yesterday's big gainer, GULFNAV, was still heavily traded but could only manage a 0.53% increase to 1.89. Emaar Properties (EMAAR) with a modest 0.86% increase to 11.70, didn't even make the top 5 by traded value.
Other gains of note for Aramex (ARMX) up 3.8% to 2.74, Commercial Bank of Dubai (CBD) up 3.4% to 10.75 only just over the AED 1m turnover level, Arabtec (ARTC) up 2.2% to 16.45, and the remaining gainers up less than 2% or on less than AED 1 million of turnover.
Only 8 losers today, and only 2 falling by more than 1% on turnover greater than AED 1 million - AIRARABIA down 1.5% to 2.01, and AMAN down 1.2%.
Abu Dhabi Securities Market
The ADX index rose 0.62% to 5093 turnover at just under AED 2 billion. RAK Cement (RAKCC) overwhemingly dominated trading today with a 4.4% increase to 3.75 from a massive AED 828 million of traded value, over 3 times the turnover of Aldar Properties (ALDAR), next in the list with AED 250 million, and a 2% increase to 12.75. It seems hard to believe there is no news to explain the heavy interest in RAK Cement. The other cement companies saw much lower trading levels and price movements.
Other significant price changes today for National Marine Dredging (NMDC) up 4.85% to 12.00 on greater than usual trading, AWNIC up 3.7% to 7.00 with turnover slightly over the AED 1 million level, FG with a solid 3.1% to 25.35, ADAVIATION up 2.9% to 6.13 from much greater trading volume than usual, and Qatar Telecom (QTEL) up 2.4%. The remaining gainers were up less than 2%, or on thin trading levels. Etisalat (ETISALAT) was slightly ahead by 0.24% to 21.00.
AGTHIA was the worst of the more actively traded stocks, falling by 2.5% to 2.71, although Gulf Cement (GCEM) had a slightly greater drop of 2.6% to 6.82 on modest turnover. Oasis Leasing (OILC) dropped by 1.9%, RAK Properties (RAKPROP) by 1.7% and the remaining losers fell by less than 1.5% or thin trading.
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