UAE market news & discussions for 04 September 2008Yesterday's hopeful looking rise on the DFM didn't last, as it gave up its gains and then some, with the ADX also looking sour. First Gulf Bank accelerated its decline, and Emaar tumbled well below 9 dhs, while Waha Capital was the only stock to show any gain that was worth noting. |
- DIB share price forecast
- Marketwatch DFM ADX September 2008
- Marketwatch DFM ADX August 2008 part II
- RAK Properties share price
- Interest Rate, Inflation & PE ratios
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More UAE stock market news and discussions...
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Dubai Financial Market
The DFMGI skidded 1.25% to 4689 points with turnover at AED 740m. Emaar Properties (EMAAR) trading was a third of that as it plunged 3.3% to 8.77. Arabtec (ARTC) was also heavily traded, falling a more modest 1.4% to 14.50. Shuaa Capital (SHUAA) was more heavily traded than usual, and fell 0.49% to 6.12.
Amlak Finance (AMLAK) and Tamweel (TAMWEEL) were the only gainers trading more than AED 1m, and rose 1.9% and 1.2% respectively. DEYAAR, DIB, and Aramex (ARMX) were unchanged.
GULFNAV was the worst of the more active losers, down by 4.1% to 1.40. AJMANBANK fell 2.0%, Emirates NBD (ENBD) 1.8%, DFM and Union Properties (UPP) 1.6%, and the remainder by less than 1.5% or on thin trading.
Abu Dhabi Securities Market
The ADX suffered less badly than Dubai, with a 0.76% fall to 4311 on turnover of just AED 312m. No stocks saw more than AED 100m of trading, and only Aldar Properties (ALDAR) and Sorouh Real Estate (SOROUH) traded more than AED 50m worth, both falling by 1.8% to 8.95 and 6.89 respectively.
Oasis Leasing (OILC) stood out in the gainers list with a 3.6% jump to 2.30, and Union National Bank (UNB) was the only other stock rising more than 1% on turnover of more than AED 1m - it ended the day up by 1.1% at 7.35.
ADNH and NBQ saw big falls on slightly more than AED 1m of turnover, down by 5.3% and 4.5%. First Gulf Bank (FGB) had a large drop of 4.4% to 20.35 on relatively heavy trading, Aabar Petroleum (AABAR) fell 2.25% to 3.89, RAK Properties (RAKPROP) 1.9%, and the remainder fell less than 1.5% or on thin trading.
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