UAE market news & discussions for 22 September 2008The DFM gave up some of yesterday's big gains with a 2.5% fall to 4201 from turnover of AED 1.8 billion, however, the ADX continued upwards by 1.65% to 4014 from increased turnover of AED 1.5 billion. On the DIFX, DP World is up 6% to $0.71 while Damas and KHI are down 1% and 2% from just one trade each so far today. The UAE Central Bank set up a Dh50 billion lending facility, and a report from CB Richard Ellis Group said sovereign wealth funds may increase their invest in commercial property to $725 billion (Dh2.6 trillion) ... by 2015. And fashion victims will be happy to hear Bloomingdale's of New York will open a shop in Dubai ... in 2010. |
- Marketwatch DFM ADX September 2008
- What to buy?
- DP World 55 cent
- Emaar trading range: between 7 and 8
- Aramex price
- Short selling?
- Drake Scull IPO
- Tabreed change in management with change in strategy
More UAE stock market news and discussions...
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Dubai Financial Market
Emaar Properties (EMAAR) was the most heavily traded stock as usual, with almost 600 million of turnover, and fell 3.0% to 7.81. TAKAFUL-EM had AED 200m of turnover and stood out with a 4.3% rise to 4.37, the only gainer of note in Dubai. Four other stocks traded more than AED 100m worth - AJMANBANK down 4.2%, DFM down 2.5%, Union Properties (UPP) down 6.2% and the worst of the losers along with Dubai Investments (DIC), and Arabtec (ARTC) down 2.6%. Du Telecom (DU) was down 5.5% and the rest of the actively traded stocks fell between 2.5% and 5%.
Abu Dhabi Securities Market
Aldar Properties (ALDAR) and Sorouh Real Estate (SOROUH) dominated trading with almost AED 1 billion of turnover between them, and took the top spots on the gainers list (except for a couple of thinly traded stocks) with 8.1% and 7.7% rises to 8.18 and 6.16 respectively. Gulf Cement (GCEM) was busier than usual with a 4.1% increase, First Gulf Bank (FGB) and Abu Dhabi Commercial Bank (ADCB) rose 5.3% and 3.5% respectively, Abu Dhabi National Energy (TAQA) was up 3.4% and the remaining gainers were up less than 3% or on thin trading. Etisalat (ETISALAT) rose 1.2% to 17.30. National Bank of Abu Dhabi (NBAD) fell 1.6% to 15.50, RAK Cement (RAKCC) 1.5% on greater than usual trading, but otherwise there were few stocks that stood out in the list of 14 losers.
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