UAE market news & discussions for 07 August 2008The markets continue to slide, with both ADX and DFM falling again, although turnover was down slightly from yesterday. Significant losers included Aabar, Sorouh, Agthia, ADCB, and Methaq in Abu Dhabi, and Union Properties again in Dubai. The most notable gainers were Dar Takaful and Arabtec in Dubai, but nothing in Abu Dhabi. Tamweel closed unchanged after a reports that they had said there was no police investigation of any of their executives. A good day though for DP World on the DIFX, as it jumped more than 10% to $0.83, although turnover wasn't significantly higher. Damas saw one trade at $1.01 (unchanged from the last time), and no trading for Depa. 2008 Q2 & H1 financial result updates today
Sharewadi Calendar next week Thursday 07 August 2008
Friday 08 August 2008 Saturday 09 August 2008 Sunday 10 August 2008 Monday 11 August 2008
Tuesday 12 August 2008 Wednesday 13 August 2008 Thursday August 14
Dubai Share Talk latest updates |
- Global Investment House Fitch rating
- Insider trades August 2008
- Marketwatch ADX DFM August 2008
- NBQ 08Q2 profit Dh68m -19%
- UNIKAI 08Q2 profit Dh10m +9%
- Tamweel ex-key executives under investigation?
- TAMWEEL 2008FY profit forecast
- TAQA 08Q2 profit Dh470m +154%
- UAE bank costs up
More UAE stock market news and discussions...
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Dubai Financial Market
The DFMGI had yet another fall today, dropping by 0.55% to 5250 points on slightly lower turnover of just over AED 1 billion with two stocks trading over the AED 100 million level for the day. DARTAKAFUL, looks just as expensive as Methaq in Abu Dhabi now, as it gained 3.3% to AED 7.11, topping the traded value list with AED 169m worth. Emaar Properties (EMAAR) was in number two spot with AED 142m worth of deals as it slipped 0.95% to 10.45.
The top three gainers saw less than a total of AED 100,000 worth from just 4 trades. Top gainer with more than AED 1 m of deals was SALAM_BAH with a 3.4% rise to 2.45. Arabtec (ARTC) recovered from the past couple of unpleasant days and rose 2.1% to 17.15, and another 5 stocks were up by less than 1% including Emirates NBD (ENBD), DFM, and Shuaa Capital (SHUAA).
ALSALAMSUDAN topped the loser's list with a 15% drop from just one small trade. Union Properties (UPP) was the worst of the more actively traded stocks with a 5.0% fall to 4.57 following on from yesterday's big drop. Aramex (ARMX) was down 2.6% to 2.24, AJMANBANK fell 1.95%, Amlak Finance (AMLAK), AIRARABIA, and Tabreed (TABREED) all fell 1.9%, and another 8 stocks fell less than 1.5% or on turnover of less than AED 1 million.
Abu Dhabi Securities Market
The ADX index fell 1.1% to 4774 points from total turnover of AED 502m with two stocks trading more than AED 100 m for the day. Aldar Properties (ALDAR) was the most active with AED 131m worth and a 1.3% fall to 11.50. First Gulf Bank (FGB) made a surprising appearance near the top of the traded value table with AED 104m worth and a 1.2% fall to 24.75. Sorouh Real Estate (SOROUH) saw just under AED 100m worth of trading as it tumbled by 3.6% to 8.28.
The top 5 gainers were thinly traded stocks, with a total turnover of less than AED 300,000 between them from less than 10 trades. ADAVIATION was the top gainer on turnover greater than AED 1m, and rose 1.7% to 4.57. Only 2 other stocks rose - Abu Dhabi Islamic Bank (ADIB) and RAK White Cement (RAKWCT), both less than 1% and on thin trading.
Invest Bank (INVESTB) topped the loser's list as it plummeted 10% to 3.47 from just 2 trades but turnover of AED 3.5m higher than usual. There were no buyers in the queue. The next two losers in the list saw trading of less than AED 50,000 between them, while Aabar Petroleum (AABAR) was the worst of the more usually active stocks, falling by 4.1% to 4.03. AGTHIA fell 3.6% to 2.39, Abu Dhabi Commercial Bank (ADCB) 3.3% to 4.80, and METHAQ 3.3% to 7.18. Another 3 stocks fell 2-3% including Abu Dhabi National Energy (TAQA), and the remainder fell less than 2%. Etisalat (ETISALAT) was down 0.77% to 19.20, and National Bank of Abu Dhabi (NBAD) 0.49% to 20.50.
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