UAE markets 01 Sep 2008

UAE market news & discussions for 01 September 2008 The month of Ramadan starts of with lower trading levels and most stocks closing in the red. Only Arkan Building Materials in Abu Dhabi, and Ajman Bank in Dubai had gains on any sort of significant trading, and a handful of Dubai stocks closed flat today. The Abu Dhabi property companies saw reasonably steep falls, along with RAK Properties, but Emaar and Union Properties didn't have quite such a bad day.

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• Tabreed forecast?
• Where is amlak heading?
• Marketwatch DFM ADX August 2008 part II
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• Introduce yourself here and read about other DST forumers...
• Bull n Bear

More UAE stock market news and discussions...

best stock rises symbol price change ADAVIATION 4.13 +0.36 +9.5% NCC 8.40 +0.40 +5% SALAM_BAH 2.44 +0.05 +2.1% AJMANBANK 2.87 +0.05 +1.8% GMPC 4.00 +0.05 +1.3%

worst stock falls symbol price change NMDC 8.74 -0.96 -9.9% ASMAK 29.95 -2.05 -6.4% CBI 3.26 -0.19 -5.5% JEEMA 3.14 -0.16 -4.8% JULPHAR 2.30 -0.10 -4.2%

top volume symbol value (AED) price ALDAR 100,854,214 9.32 EMAAR 98,564,440 9.06 AJMANBANK 81,162,579 2.87 SOROUH 58,810,044 7.06 FGB 35,510,835 23.00

Dubai Financial Market

The DFMGI drifted down another 0.38% to 4745 points with turnover only AED 353m worth. No stocks traded more than AED 100m, Emaar Properties (EMAAR) was the closest with AED 98.5m as it fell 0.55% to 9.06.

Only AJMANBANK stood out in the gainers list with a 1.8% rise to 2.87. The other 4 gainers rose on turnover of about AED 1m or less. DFM, GULFNAV, Arabtec (ARTC), Union Properties (UPP), DEYAAR, and Tabreed (TABREED) were all unchanged from yesterday.

DARTAKAFUL was the worst of the losers trading more than AED 1m (only just though), falling 3.5% to 5.00. Amlak Finance (AMLAK) was down 1.9%, Tamweel (TAMWEEL) 1.7%, and the remainder by less than 1% or on thin trading.

Abu Dhabi Securities Market

The ADX fared worse than the DFM, and dropped by 1.25% to 4358 points but turnover was down to just AED 261m. Aldar Properties (ALDAR) was the only stock to see more than AED 100m worth of trading (AED 100.85m in fact), and slid 4.1% to 9.30, making it the worst of the more actively traded losers.

ARKAN was the only gainer on turnover of more than AED 1m with a small 0.66% rise to 5.92. Four other stocks rose on thin trading.

AGTHIA fell 4.0% to 2.15, RAK Cement (RAKCC) 3.8% to 3.03, Dana Gas (DANA) 3.1% to 1.56, Sorouh Real Estate (SOROUH) 2.9%, Abu Dhabi National Energy (TAQA) 2.6%, RAK Properties (RAKPROP) 2.5%, and the rest by less than 2% or on thin trading.

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