UAE daily stock market reports for Abu Dhabi Securities Market (ADSM) and Dubai Financial Market (DFM) - RSS feed

Tuesday, August 12, 2008

UAE markets 12 Aug 2008

UAE market news & discussions for 12 August 2008

More pain as both Abu Dhabi and Dubai suffered big losses again today, with the Abu Dhabi banks especially hard hit, and Emaar down to a low not seen since April 2005 (allowing for the 1:1 rights issue back then). How ironic then that the DFM annouce updated Emaar results on their website this afternoon but present visitors with an error when they try to view them.

However, the DIFX seems relatively unperturbed (as of 16:30 UAE time) with a 2.5% loss for DP World, a 2% gain for Damas, and no change in Depa share price.

2008 second quarter results released or updated today
  • International Investment Group (IIG) 2008 Q2 profit Dh57m -72%, H1 140m -52% - but an almost illegible income statement and balance sheet has figures that appear to conflict with the supplied summary so that may not be correct. IIG shares have been untraded on the DFM since June 2008.
  • Jeema Mineral Water (JEEMA) 2008 Q2 profit Dh1.6m +714%, H1 1.1m +393% - great looking growth but mostly from investment income. And it's still a company that has only made 1 million dhs for the first 6 months of this year. Many Dubai residents have probably done better than that out of property gains.
  • Results (preliminary or updates) also for Emaar Properties (EMAAR), Al Sagr Insurance (ASNIC), and National Industries (NIND) but there appears to be a problem with the DFM market website - none of the disclosures are available, and ESCA hasn't updated their website today.
  • 2008Q2 UAE results - complete list of results released so far

ShareWadi calendar this week

Tuesday 12 August 2008

  • ASNIC 08Q2 financial statements (DFM, pm, disclosure not available - error)
  • EMAAR 08Q2 financial statements (DFM, pm, but disclosure not available - error)
  • IIG 08Q2 preliminary financial results (DFM, am, disclosure illegible)
  • JEEMA 08Q2 financial statements (DFM, pm, disclosure not available - see ESCA website)
  • NIND 08Q2 preliminary financial results (DFM, pm, disclosure not available - error)
  • NIND BOD meeting 08Q2 results? (agenda not supplied)

Wednesday 13 August 2008

  • IIG BOD meeting, 08Q2 results? Agenda not supplied.

Thursday 14 August 2008

  • DRC 07Q2 results due
  • ESCA deadline for ADX & DFM 08Q2 results submission (45 days from 30 June 2008)
  • GRAND BOD meeting 08Q2 results? Disclosure unavailable.
  • NRE BOD meeting, disclosure not available

Friday 15 August 2008

Saturday 16 August 2008

  • SALAM press conference, no further details supplied
  • TASI Tadawul to name investors with > 5% stakes from today

Sunday 17 August 2008

Dubai Financial Market and Abu Dhabi Securities Market index for 12 August 2008

More UAE stock market news and discussions...

best stock rises
symbol price change
FH 14.30 +1.30 +10%
ABNIC 10.05 +0.87 +9.5%
ADAVIATION 4.75 +0.35 +8%
JULPHAR 2.45 +0.13 +5.6%
AABAR 3.90 +0.13 +3.4%
worst stock falls
symbol price change
FOODCO 4.56 -0.50 -9.9%
SCIDC 4.95 -0.50 -9.2%
UNB 7.76 -0.78 -9.1%
CBI 2.81 -0.28 -9.1%
QCEM 2.71 -0.25 -8.4%
top volume
symbol value (AED) price
EMAAR229,292,2329.60
ALDAR205,982,08710.00
ARTC155,079,48315.30
SOROUH128,721,9387.60
DFM69,383,5193.88

Dubai Financial Market

The DFM General Index fell 2.0% to 4944, ending the day below 5000 points, with turnover moderate at AED 820m. Emaar Properties (EMAAR) falling 3.0% to 9.60, and Arabtec (ARTC) falling 2.2% to 15.30, were the most heavily traded with turnover of AED 229m and AED 155m respectively.

There were only two gainers today: SALAM_BAH rising 0.84% on thin trading, and DFM up just 0.26% to 3.88.

Tamweel (TAMWEEL) toppped the loser's list with a 7.1% fall to 5.90. Aramex (ARMX) was next with a 5.6% drop to 2.02, and AJMANBANK was down 5.6% to 2.71. Tabreed (TABREED) lost 4.9% to close at 1.95, Du Telecom (DU) fell 4.5% to 5.06, Islamic Arab Insurance (IAIC) was down 3.6%, DEYAAR 3.55%, and the remainder fell less than 3% or on turnover of less than AED 1m.

Abu Dhabi Securities Market

The ADX index fell 1.8% to 4393 with turnover at a moderate level of AED 570m. Aldar Properties (ALDAR) unchanged at 9.67, and Sorouh Real Estate (SOROUH) unchanged at 7.20, were the most heavily traded stocks with turnover of AED 206m and AED 129m respectively.

There were seven gainers on the ADX today but only two of any significance - Aabar Petroleum (AABAR) up 3.45% to 3.85, and Oasis Leasing (OILC) up 2.3% to 2.24. The other five rising on total turnover of less than AED 1m between them.

Union National Bank (UNB) stood out in the loser's list again today, with another steep drop of 9.1% to 7.81, Abu Dhabi Commercial Bank (ADCB) 5.0% to 4.30, National Bank of Abu Dhabi (NBAD) 5.0% to 18.10, and First Gulf Bank (FGB) 4.3% to 19.95 making it a glum day indeed for the Abu Dhabi bank sector. Other losers included Gulf Cement (GCEM) down 6.9% to 4.70, RAK Cement (RAKCC) down 3.3% to 3.02, NBS down 2.0%, and the remainder falling less than 2% or on turnover of less than AED 1m.

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