UAE market news & discussions for 29 July 2008Not a great day for either market as both fell, albeit on limited turnover. Very few stocks had a good day. Taqa, Aramex, and Gulf Navigation had small gains and the remaining actively traded stocks fell. Asmak stood out with limit up trading and greater than usual turnover - their results must be due any day now. On the DIFX, DP World saw a nasty 5% fall to $0.76, while Depa rose 3.2% to $1.30 on a handful of trades, and Damas was unchanged at $1.02 from just a single trade. 2008 second quarter results released or updated today
ShareWadi calendar this week Tuesday, 29 July 2008
Wednesday, 30 July 2008
Thursday, 31 July 2008
Sunday, 03 August 2008
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- BAYAN 08Q2 profit Dh410m +468%
- DANA Kurdistan Gas City site
- Dar Takaful IPO
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- DIC Mirdiff Hills
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- EMAAR conference call 08Q2 earnings
- ESCA margin trading DFM ADSM
- FMI1 binding restructuring
- Investor Relations in the Middle East? Press feedback
- Isra Wa Miraj holiday Thursday
- KFIC Tamwilia secondary listing
- Margin trading DFM ADX
- Marketwatch ADX DFM July 2008
- MAN Q12008 financial results
- MAZAYA 2008Q2 profit Dh170m +55%
- NBF 08Q2 profit Dh98m +35%
- SCIDC 08Q2 profit Dh77m -17%
- Summer Sale ... best discounted prices
- TAQA 08Q2 results date 07 Aug
More UAE stock market news and discussions...
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Dubai Financial Market
The DFMGI suffered a 1.36% drop to 5348 points on another day of subdued trading with only AED 549m worth of turnover and no stocks trading more than AED 100m worth. Arabtec (ARTC) had the highest turnover of AED 75m as it fell 0.5% to 19.40, Tamweel (TAMWEEL) was also busy and lurched downwards by 2.9% to 7.64.
Aramex (ARMX) was the only gainer rising more than 1% on turnover greater than AED 1m, and ended the day 1.3% higher at 2.35. GULFNAV was the only other actively traded stock to rise, just 0.6% to 1.66.
MAZAYA was the worst of the losers on turnover more than AED 1m, falling 3.1% to 12.50 from thin trading nevertheless. AIRARABIA suffered a 3.1% fall also, to 1.57. Union Properties (UPP) lost 2.7% to close at 5.36, Tabreed (TABREED) 2.6% to 2.22, Islamic Arab Insurance (IAIC) and TAKAFUL-EM 2.4%, Emaar Properties (EMAAR) also 2.4% to 10.35, and the remaining losers fell less than 2% or on thin trading.
Abu Dhabi Securities Market
The Abu Dhabi market didn't suffer quite as badly as Dubai, but still fell 0.9% to 4931, but with turnover more subdued at AED 411m. No stocks traded more than AED 100 million. Abu Dhabi National Energy (TAQA) was the top of the list with AED 88m and a 1.7% rise to 3.00.
ASMAK stood out with limit up trading to 34.30 on unusually active trading and no sellers in the queue. Other stocks with good gains on greater than AED 1 m turnover included Finance House (FH) up 4.6% to 14.50, Invest Bank (INVESTB) 4.5% to 3.35, Bank Of Sharjah (BOS) up 2.4% to 2.97. Taqa was the only other gainer of note.
The top eight losers fell on less than AED 1 m of turnover each, including yesterday's star performer - ADNH, which fell 3.8% to 8.31. Sorouh Real Estate (SOROUH) was the worst of the more actively traded losers, down by 2.15% to 9.05. NBS was busy and dropped 2.0% to 2.99. RAK Cement (RAKCC) fell 1.65%, National Bank of Abu Dhabi (NBAD) 1.6%, Etisalat (ETISALAT) 1.5% to 19.70, First Gulf Bank (FGB) 1.3%, Aldar Properties (ALDAR) 1.2% and the remainder by less than 1%.
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