UAE market news & discussions for 10 July 2008Both local markets saw red today with the DFM especially looking grim, with Ajman Bank the only gainer on massive turnover, while Shuaa Capital and Air Arabia suffered particularly badly. On the ADX, Aabar Investments built on yesterdays gains with another rise and heavy trading, while First Gulf Bank had a solid rise after better than expected results were released yesterday. On the DIFX at 16:30, shortly before close, DP World is down a cent to US$0.79, while Damas is flat at $1.04 and Depa is up a couple of cents to $1.40. Only a total of 5 trades for Damas and Depa combined though. Monarch Gold Mining (MON) in Australia, which has a secondary listing on the DIFX, announced they'd appointed administrators. Monarch were trying to find cash this week but it looks like they've run out of options. Monarch shares on the DIFX were untraded, as they have been since listing in June 2007. Results released today
Results maybe expected next week (based on 2008 Q1 dates)
ShareWadi calendar this week Thursday, 10 July 2008
Friday, 11 July 2008
Saturday, 12 July 2008
Sunday, 13 July 2008
Monday, 14 July 2008
Tuesday, 15 July 2008
Wednesday, 16 July 2008
Thursday, 17 July 2008
Friday, 18 July 2008 Saturday, 19 July 2008 Sunday, 20 July 2008
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- AABAR convertible bond
- ADX 08H1 performance
- CBD 08Q2 profit Dh300m +40%
- FH 08Q2 profit Dh99m +153%
- Depa AED800m new contracts
- Dubai property reports
- INVESTB 08Q2 profit Dh78m +57%
- Marketwatch ADX DFM July 2008
- Monarch Gold Mine bust
- NBAD employee stock options
- Noor Bank Aldar Sorouh MoU
- Pakistan secondary listing DFM
- RAKCC 08Q2 profit Dh12m -15%
- SALAM 2008Q2 results 26 July 2008?
- UNION convertible bond?
More UAE stock market news and discussions...
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Dubai Financial Market
The DFMGI suffered an unpleasant 1.07% fall to 5348 points, with turnover increased to AED 1.58 billion but that's not as grim as it sounds since close to two-thirds of that was in AJMANBANK, which continued to defy any sort of logic, and rose 1.5% to 3.32 - the only stock on the DFM with a green arrow today.
AIRARABIA saw heavy trading as it fell 3.5% to 1.67, and took number 2 spot on the turnover table. Emaar Properties (EMAAR) was the third stock to trade more than AED 100 million today and almost looked positive with a fall of only 0.48% to 10.30.
Shuaa Capital (SHUAA) stood out at the top of the losers list, sinking 6.5% to 7.01. SALAM_BAH was not much better with a 4.55% fall to 2.52. Amlak Finance (AMLAK) dropped 2.6% to 4.48, Tabreed (TABREED) also 2.6% to 2.28, DEYAAR 2.4% to 2.03, DFM also 2.4% to 4.95, and another 16 stocks fell less than 2% or on thin trading.
Abu Dhabi Securities Market
The ADX looked less grim than the Dubai index with a fall of only 0.19%, but that was enough to drag it below 5000 points ... to close at 4997. Turnover was moderate at just below AED 1 billion. Aabar Petroleum (AABAR) dominated the floor with over AED 200 billion of trading, and had a reasonable 2.6% rise to 4.71. AGTHIA was also busy but fell 0.34% to 2.86, while Sorouh Real Estate (SOROUH) was the only other stock to trade more than AED 100m worth as it fell 1.8% to 9.54.
First Gulf Bank (FGB) stood out in the gainers list with a 3.3% rise to 27.65 after announcing a good set of results yesterday afternoon. AKIC was up 1.8% and National Marine Dredging (NMDC) 1.2% on just over AED 1 million of turnover. There were another 11 gainers but nothing that stood out. Etisalat (ETISALAT) closed unchanged at 19.90.
NBQ stood out in the losers list with greater than usual trading and a 3.1% fall to 6.30. Abu Dhabi National Energy (TAQA) was down 3.0% to 2.91, RAK White Cement (RAKWCT) 2.8% to 2.40, RAK Cement (RAKCC) 2.1% to 3.76 as profits fell yet again, Aldar Properties (ALDAR) and Bank Of Sharjah (BOS) lost 2%, another 8 stocks fell between 1% and 2%, and 9 stocks fell less than 1% or on thin turnover.
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