DFM & ADSM reports

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

Thursday, October 30, 2008

UAE markets 30 Oct 2008

UAE market news & discussions for 30 October 2008

A mixed result on UAE markets today as Asian markets continued to rally. The value of shares traded on the DFM was 442 million dirhams and on the ADX, 260 million dirhams. This volume remains subdued and suggests investors are still wary of taking positions despite the apparent bargains on offer.
The DFM index closed 0.85% higher at 2,942. EMMAR up 2.69% and ARTC up 4.66% lead the way.
The ADX index closed 0.73% lower at 3,326. The market was lead lower mostly by the banking sector with ADCB down 6%, SIB down 4.29% and FGB down 0.42%.
RESULTS
ABNIC 08Q3 profit Dh21m -7% pcp
SCIDC 08Q3 profit Dh69m 0% pcp
EIB 08Q3 profit Dh120m +81% pcp

Dubai Financial Market

On the Dubai Financial Market 13 stocks advanced and 10 declined.
Stocks to rise included: Air Arabia (AIRARABIA) 1.21 (1.68%) and Deyaar Development (DEYAAR) 1.15 (2.67%).
Stocks to fall included: Ajman Islamic Bank (AJMANBANK) 1.94 (1.02%), Dubai Financial Market (DFM) 2.22 (1.33%) and Dubai Islamic Bank (DIB) 4.10 (0.24%).

Abu Dhabi Securities Market

On the ADX 12 stocks rose and 21 declined.
Stocks to rise included: most of the cement companies had a good day rising between 2% and 6%. Aldar Properties (ALDAR) was also up by 1.95%.
Stocks to fall included: Ras Al Khaimah Properties (RAKPROP) 1.05 (2.78%), Sorouh Real Estate (SOROUH) 3.90 (2.50%) and Dana Gas (DANA) 1.05 (2.78%).

Dubai Financial Market and Abu Dhabi Securities Market index for 30 October 2008

UAE stock market news and discussions at Dubai Share Talk ...

best stock rises
symbol price change
ADAVIATION 2.58 +0.23 +9.8%
AKIC 1.58 +0.13 +9%
GCEM 3.90 +0.24 +6.6%
RAKCC 1.64 +0.10 +6.5%
SALAM_BAH 1.45 +0.08 +5.8%
worst stock falls
symbol price change
UNION 3.78 0.42 12.5%
ALSALAMSUDAN 2.88 0.31 12.1%
TKFL 8.10 0.70 9.5%
UNB 4.22 0.28 7.1%
ADCB 2.64 0.17 6.9%
top volume
symbol value (AED) price
EMAAR187,716,8885.34
ALDAR97,597,0925.22
ARTC49,207,8375.85
SOROUH38,933,5043.90
AIRARABIA36,758,3911.21

Posted by sharewadi at 17:54

Wednesday, October 29, 2008

UAE markets 29 Oct 2008

UAE market news & discussions for 29 October 2008

Despite promising gains around the world yesterday, and again today, the Dubai stock market fell today, although the Abu Dhabi index was up. Just over AED 1 billion of turnover for the DFM with the index ending 0.5% down at 2917, and the ADX had half a billion of turnover and a 2.2% gain to 3350. The Dubai Mall, an Emaar development, had its opening date delayed for a second time. There's a good chance it should actually open after the third delay announcement, we're guessing sometime next week.

Results released today for Agthia, Gulf Navigation (press release only), Al Ain Insurance, Al Dhafra Insurance, Fujairah Building Co, Fujairah Cement, Julphar, Oman & Emirates Investment (again), Union Cement. Financial statements and/or BOD reports released for (preliminary results already released) ADCB, Commerical Bank International, RAK Poultry, RAK Insurance. Taqa results are due tomorrow morning. Other results could be seen for Du Telecom, Dubai Investments, Dubai Islamic Insurance (AMAN), Julphar, Sharjah Cement.

Dubai Financial Market

Emaar Properties (EMAAR) was by far the most heavily traded share with almost half the total turnover as it fell 1.5% to 5.20. Arabtec (ARTC), down 3.1%, and Air Arabia (AIRARABIA), unchanged, also traded more than AED 100 million. Ajman Islamic Bank (AJMANBANK) was the most significant gainer, up 3.2% to 1.96. Emirates NBD (ENBD) was up 3.1%, and National General Cooling (TABREED) and Union Properties (UPP) rose less than 1%. Four stocks fell more than 3%, including Arabtec, Emirates Integrated Telecommunications (DU) and Emarat Takaful Insurance (TAKAFUL-EM). The remaining actively traded stocks fell between 1% and 3%, except for Dubai Islamic Insurance (AMAN), Dubai Investment Company (DIC), and Dubai Islamic Bank (DIB) which fell less than 1%. Gulf Navigation (GULFNAV) was unchanged at 1.10 on news of 3Q results.

Abu Dhabi Securities Market

Aldar Properties (ALDAR) was the only stock trading more than AED 100 million, and rose 3.4% to 5.10. Sorouh Real Estate (SOROUH), First Gulf Bank (FGB), Emirates Telecom (ETISALAT), and Dana Gas (DANA) all rose 3% to 4% on decent levels of turnover. National Bank of Abu Dhabi (NBAD) was the biggest gainer though with a solid 8.2% rise to 11.50. Arkan Building Materials (ARKAN) was also up there with an 8% jump, and Abu Dhabi National Energy (TAQA) rose 4.2% ahead of its results announcement tomorrow morning. Most losers were less actively traded stocks with turnover below AED 1 million for the day. Exceptions were Union National Bank (UNB) down 4.3%, Methaq Islamic Insurance (METHAQ) down 1.9%, Waha Capital (OILC) and Abu Dhabi National Hotels (ADNH) down less than 1%.

Dubai Financial Market and Abu Dhabi Securities Market index for 29 October 2008

UAE stock market news and discussions at Dubai Share Talk ...

best stock rises
symbol price change
NBAD 11.80 +0.90 +8.3%
ARKAN 5.55 +0.41 +8%
QTEL 129.90 +9.20 +7.6%
NCC 7.20 +0.34 +5%
SALAM_BAH 1.37 +0.06 +4.6%
worst stock falls
symbol price change
FH 9.05 -1.00 -10%
ASMAK 27.05 -2.65 -8.9%
ADAVIATION 2.35 -0.20 -7.8%
EIC 7.50 -0.53 -6.6%
NBQ 5.82 -0.37 -6%
top volume
symbol value (AED) price
EMAAR519,020,2475.20
ALDAR204,579,9235.12
ARTC129,671,5555.60
AIRARABIA106,847,3781.19
DFM97,670,0862.25

Posted by sharewadi at 18:47

Tuesday, October 28, 2008

UAE markets 28 Oct 2008

UAE market news & discussions for 28 October 2008

After a positive lead in Asian trading, the UAE market finally decides to decouple. The DFM index managed a small rise of 0.32% after spending most of the trading session in the red. The ADX was worse falling 1.31% to 3,278. Volume traded on the DFM was just over 800 million dirhams and on the ADX an anemic 380 million dirhams.
On the DFM, EMAAR topped trading climbing 3.52% to Dhs 5.28 as traders continued to digest news of the start of the share buy back. Despite announcing the buy back of 10% of its shares yesterday SHUAA closed steady at Dhs 2.68. Is the investment banking model dead and does SHUAA now need to consider applying for a banking licence?
on the ADX, Contruction down 5.13%, Consumer down 3% and Energy down 3% lead the trading. Stocks to fall the most included: AABAR 7.77%, TAQA 3%, DRIVE 10%, ARKAN 6.88%, RAKCC 6.17%.
ALDAR closed up 0.81%
RESULTS
DIB 08Q3 profit 430m +10% pcp
QCEM 08Q3 loss 38m -290m pcp
RAKNIC 08Q3 profit 2.3m -67% pcp

Dubai Financial Market

On the Dubai Financial Market 13 stocks advanced and 13 declined.
Stocks to gain included: Tamweel Finance (TAMWEEL) 2.01 (1.51%), Dubai Investment Company (DIC) 1.93 (1.57%), Dubai Financial Market (DFM) 2.29 (0.43%) and Air Arabia (AIRARABIA) 1.19 (3.47%).
Stocks to decline included: Arabtec (ARTC) 5.78 (3.02%), National General Cooling (TABREED) 1.09 (0.90%) and Union Properties (UPP) 2.00 (0.49%).

Abu Dhabi Securities Market

On the ADX 8 stocks advanced and 29 declined.
Stocks to gain included: Abu Dhabi Commercial Bank (ADCB) 2.76 (1.47%) and Emirates Telecom (ETISALAT) 15.45 (0.65%)
Stocks to decline included:
All construction from 0.71% to 9% down
All consumer up to 10% down
All energy up to 7% down, and;
All the banks except for Abu Dhabi Commercial Bank (ADCB) and Bank of Sharjah (BOS).

Dubai Financial Market and Abu Dhabi Securities Market index for 28 October 2008

UAE stock market news and discussions at Dubai Share Talk ...

best stock rises
symbol price change
TKFL 8.80 +0.80 +10%
GMPC 5.38 +0.51 +10.5%
TAKAFUL-EM 2.28 +0.18 +8.6%
AMAN 1.77 +0.10 +6%
AJMANBANK 1.90 +0.10 +5.6%
worst stock falls
symbol price change
DRIVE 4.86 -0.54 -10%
ASMAK 29.70 -3.25 -9.9%
EKTTITAB 1.70 -0.18 -9.6%
SCIDC 3.31 -0.33 -9.1%
AABAR 2.73 -0.23 -7.8%
top volume
symbol value (AED) price
EMAAR343,000,0575.28
ALDAR175,540,6944.95
ARTC146,587,8385.78
SOROUH70,223,0873.85
DFM55,580,9722.29

Posted by sharewadi at 15:15

Monday, October 27, 2008

UAE markets 27 Oct 2008

UAE market news & discussions for 27 October 2008

Yet again the markets continue to tumble, with Abu Dhabi down 2% on low turnover of AED 362m - a slight gain for Emirates Telecom (ETISALAT) keeping it from falling further, while Dubai sank by 5.8% with a little under AED 1 billion of turnover. An unlucky 13 stocks were trading at 10% limit down prices with no, or very few, buyers in the queue. The near collapse of Gulf Bank in Kuwait probably didn't help investor's mood today, nor did the paltry attempt to buy back shares by Emaar Properties (EMAAR).

  • Aabar demonstrated clearly the futility of trying to work for a living. They made more money for shareholders in the third quarter of 2008, after having sold all their income producing assets, than they did in the same quarter the previous year when they still had those assets.
  • Emaar hesitantly made its first foray into the UAE stock markets, buying back a barely noticeable 200,000 shares today, making the small buybacks last year from Shuaa Capital (SHUAA) and Islamic Arab Insurance (IAIC) look positively market-shattering in comparison.
  • As it happens, Shuaa themselves announced a 10% share buyback program (again). The Dubai Financial Market (DFM) Department of Irony suspended trading in Shuaa shares for a brief period while the Shuaa BOD disclosed this information during trading hours.
  • NIH started trading on the Dubai Financial Market (DFM) today - just barely. Only 3 trades went through at prices between 4.00 and 4.10, a fairly active day for a secondary listing from Kuwait.
  • In a busy day for the UAE Central Bank governor, he said UAE banks should consider mergers, the UAE property market could face a correction, the liquidity crunch in the UAE is stabilising, and the Central Bank is ready to do more if necessary. The UAE bank sector wasn't listening, and fell almost 3% today.
  • DIFX will ring the Nasdaq opening bell on 20 November 2008 0... from Dubai. Ding ding.
  • UAE financial news - latest news from Reuters, Bloomberg and UAE media
  • UAE Q3 results list - latest reports highlighted
  • Sharewadi calendar - important dates

UAE company results for 2008 Q3 yesterday afternoon and this morning (results may be seen later today or tomorrow morning for Agthia, Arkan Building Materials, Aramex, Bank of Sharjah, Dubai Islamic Bank, Fujeirah Cement, Gulf Navigation, Union Cement, based on release dates of previous results or BOD meeting information).

Dubai Financial Market

Top traded share on turnover was Emaar Properties (EMAAR) with 82.7m shares worth AED 453m, and only 0.25% of them were bought by Emaar themselves. Emaar fell 9.25% to 5.10. No other stocks saw more than AED 100m worth of trading. Six stocks were 10% limit down including Arabtec (ARTC), Arab International Logistics (ARMX), and Tamweel Finance (TAMWEEL). Dubai Islamic Bank (DIB), Dubai Investment Company (DIC), and Air Arabia (AIRARABIA) all fell 8% or more. The only gainer was the rarely traded Kuwait Finance and Investment (KFIC), up 4.65% from 2 trades.

Abu Dhabi Securities Market

Aldar Properties (ALDAR), falling 5.6% to 4.71, was the most heavily traded stock and the only one with more than AED 50m of turnover. Emirates Telecom (ETISALAT) gained 0.33% to 15.35, propping up the ADX index. International Fish Farming (ASMAK) was the only other gainer of significance, up by 6.3% on heavier than usual trading. Seven stocks saw l10% limit down trading today, including First Gulf Bank (FGB) with closing price of 12.15. Sorouh Real Estate (SOROUH) was down 6.7% and most other actively traded stocks fell less than 5%.

Dubai Financial Market and Abu Dhabi Securities Market index for 27 October 2008

UAE stock market news and discussions at Dubai Share Talk ...

best stock rises
symbol price change
SICO 5.85 +0.40 +7.3%
ASMAK 32.95 +1.95 +6.3%
FH 10.05 +0.13 +1.3%
ETISALAT 15.35 +0.05 +0.3%
worst stock falls
symbol price change
ARTC 5.96 -0.66 -10%
TAKAFUL-EM 2.10 -0.23 -9.9%
ARMX 1.37 -0.15 -9.9%
CBI 2.39 -0.26 -9.8%
SALAM_BAH 1.30 -0.14 -9.7%
top volume
symbol value (AED) price
EMAAR453,249,8185.10
ALDAR184,045,8454.91
ARTC91,088,8685.96
AIRARABIA56,639,0491.15
DIB51,284,3024.15

Posted by sharewadi at 17:13

Sunday, October 26, 2008

UAE markets 26 Oct 2008

UAE market news & discussions for 26 October 2008

Following turmoil in global markets at the end of last week UAE markets fell when they opened this morning. The DFM index closed at 3,102 a fall of 4.74%. Turnover was light with 192 million shares traded for a value of 599 milion dirhams. The ADX index closed at 3,389 a fall of 3.77%. Turnover was 88 million shares traded worth 313 million dirhams.
On the DFM, EMAAR 5.62 down 6.33%, ARTC 6.62 down 9.93% and DFM 2.45 down 7.19% lead the trading.
On the ADX, FGB 13.50 down 9.10%, ADCB 2.76 down 6.76%, ALDAR 5.20 down 7.31% and ETISALAT 15.30 down 2.55% lead the trading.
The Kuwait Government stepped into save Gulf Bank from derivative losses as investors stormed the exchange to express their dismay that stock prices go down as well as up. They want to know what the government was doing about it?
Saudi Arabia unveiled plans to make available 10 billion Riyals to low income citizens.
Gulf Market tumble sunday: QATAR down 8%, OMAN down 8%, KSA down 3.77%.
Meanwhile, all those concerned about inflation in the UAE will be glad to hear that an inflation rate of 7% is predicited in 2009. In a classic case of beware what you wish for, you might not have a job, or much money but at least prices will be rising more slowly!
Results
Tamweel 2008Q3 Profit 185.7m +37% pcp
MASHREQ 2008Q3 Profit 346m -12% pcp
UPP 2008Q3 Profit 245m +38% pcp
RAKPROP 2008Q3 Profit 103m +287% pcp

Dubai Financial Market

On the Dubai FM, 2 shares rose and 27 declined.
Decliners included: Air Arabia (AIRARABIA) 1.25 (4.58%), Ajman Islamic Bank (AJMANBANK) 1.97 (5.28%), Deyaar Development (DEYAAR) 1.19 (5.55%), Tamweel Finance (TAMWEEL) 2.19 (6.80%) and Union Properties (UPP) 2.08 (4.58%).

No shares gained on signifiacant volume

Abu Dhabi Securities Market

On the ADX, 6 shares advanced and 30 declined.
Decliners included: Union National Bank (UNB) 5.07 (8.81%), Dana Gas (DANA) 1.07 (1.83%) and Arkan Building Materials (ARKAN) 5.57 (2.90%).

No shares gained on signifiacant volume.

Dubai Financial Market and Abu Dhabi Securities Market index for 26 October 2008

UAE stock market news and discussions at Dubai Share Talk ...

best stock rises
symbol price change
EKTTITAB 2.08 +0.23 +12.4%
SICO 5.45 +0.48 +9.7%
SCIDC 3.99 +0.30 +8.1%
ADNH 5.24 +0.34 +6.9%
BILDCO 3.81 +0.16 +4.4%
worst stock falls
symbol price change
DRIVE 5.40 -0.60 -10%
NCTH 9.81 -1.09 -10%
SALAM_BAH 1.44 -0.16 -10%
TKFL 8.13 -0.90 -10%
ARTC 6.62 -0.73 -9.9%
top volume
symbol value (AED) price
EMAAR259,284,4945.62
ALDAR104,914,6105.20
ARTC91,211,9186.62
ETISALAT50,429,78515.30
DFM45,551,7712.45

Posted by sharewadi at 18:16

Thursday, October 23, 2008

UAE markets 23 Oct 2008

UAE market news & discussions for 23 October 2008

The Abu Dhabi stock exchange fell 2% on turnover of less than half a billion dhs, while the Dubai exchange rose 1.5% on turnover of three-quarters of a billion dhs, most of the gains coming late in the trading session after the index fell over 3% earlier in the day. Have Emaar started buying back their shares? The 3 day wait ended yesterday after results were released on Sunday afternoon, but the Dubai Financial Market (DFM) website showed no record of Emaar buying shares today (only a couple of Union Properties (UPP) insider trades). Islamic Arab Insurance (IAIC) Salama received a renewal of their approval to buyback shares. No Q3 results seen so far today, although based on previous release dates and/or BOD meetings announced, results for Aldar Properties (ALDAR) andOman Insurance (OIC) might be available later today. The Dubai CEO Exchange was quiet today with no further management arrests, as far as we know. Kuwait traders walked off the Kuwait Stock Exchange floor this morning and protested outside, in a novel way to try and boost the market. It didn't work, the KSE closed 3% down. Asian stocks plummeted today, European stocks fell, but Wall Street futures are indicating US stocks will open higher this evening.

Dubai International Financial Exchange

DP World shares have plummeted 15.9% to $0.37 so far today, Depa shares are not far behind with an 11% fall to $0.40, and there's been a single trade in Kingdom Hotel Investments at $4.85, down 3%.

Dubai Financial Market

Emaar Properties (EMAAR) was the only stock trading more than AED 100m in Dubai today, and rose 4.5% to 6.00. Top gainers included Dar Takaful Insurance (DARTAKAFUL) on thin trading, Ajman Islamic Bank (AJMANBANK), Arabtec (ARTC), and Emarat Takaful Insurance (TAKAFUL-EM), all rising about 5%. Islamic Arab Insurance (IAIC) was up 4.4%, Union Properties (UPP) 3.8% and the remaining gainers up less than 3%, inlcuding most of the actively traded stocks. Emirates NBD (ENBD) was unchanged at 6.59 today after results released yesterday afternoon, ending a succession of limit down days, but turnover was light. Shuaa Capital (SHUAA) fell 3.25% on thin turnover, and Dubai Islamic Bank (DIB) and Dubai Investment Company (DIC) fell less than 1%. The other 5 losers fell on insiginificant turnover.

Abu Dhabi Securities Market

Aldar Properties (ALDAR) saw the most turnover in Abu Dhabi today, and fell 5.7% to 5.65. First Gulf Bank (FGB) made a rare appearance in number two spot on turnover with a 1.4% rise to 15.00. Two other banks made similar gains, Abu Dhabi Islamic Bank (ADIB) and Bank of Sharjah (BOS). There were no other gainers rising more than 1% on turnover of more than AED 1 million. Sharjah Insurance (SICO), Qatar Telecom (QTEL), and Union National Bank (UNB) all had losses of more than 7% on turnover of more than AED 1m, Waha Capital (OILC) and Sorouh Real Estate (SOROUH) were down more than 6%, National Bank of Abu Dhabi (NBAD) 5.6%, and the remaining actively traded stocks fell less than 5%. Emirates Telecom (ETISALAT) was down just 1.6% to 15.95.

Dubai Financial Market and Abu Dhabi Securities Market index for 23 October 2008

UAE stock market news and discussions at Dubai Share Talk ...

best stock rises
symbol price change
OEIHC 2.98 +0.27 +10%
DARTAKAFUL 2.74 +0.14 +5.4%
AJMANBANK 2.08 +0.10 +5.1%
ARTC 7.35 +0.35 +5%
TAKAFUL-EM 2.52 +0.12 +5%
worst stock falls
symbol price change
RAKCEC 2.57 -0.28 -9.8%
GRAND 1.40 -0.15 -9.7%
SICO 4.97 -0.50 -9.1%
QTEL 121.60 -11.80 -8.8%
UNB 5.56 -0.44 -7.3%
top volume
symbol value (AED) price
EMAAR348,544,6516.00
ALDAR157,328,8275.61
ARTC77,284,4007.35
DFM70,953,8452.64
FGB68,551,69814.95

Posted by sharewadi at 15:48

Wednesday, October 22, 2008

UAE markets 22 Oct 2008

UAE market news & discussions for 22 October 2008

After three days of rises the UAE markets hit the skids today. The DFM index opened lower and fell for the rest of the day closing 4.24% down at 3209. The ADX lost ground also closing down 1.58% at 3595.
The value of trading was lower than the previous days with a little over Dh700 million worth of shares traded on the DFM and Dh467 million on the ADX.
On the DFM, EMAAR and ARTC were big losers of the day, both down over 5% on strong volumes of shares traded. This was despite good results being released by ARTC before the market opened. See below.
On the ADX, FGB closed limit up again after releasing some good reults. However realestate, ALDAR, SOROUH and RAKPROP were all down over 5%. In contrast to FGB, investors did not like the ADCB results with the stock down over 7% at the close.
RESULTS
ADCB 2008 Q3 Profit 450m -20% from pcp
ARTC 2008 Q3 Profit 260m +51% from pcp
SOROUH 2008 Q3 Profit +253% from pcp

Dubai Financial Market

On the Emirates Integrated Telecommunications (DU)BAI FM, 2 shares advanced and 25 declined.
Decliners included: Air Arabia (AIRARABIA) 1.29 (3.73%), Ajman Islamic Bank (AJMANBANK) 1.98 (6.60%), Tamweel Finance (TAMWEEL) 2.60 (1.88%) and Amlak Finance Company (AMLAK) 2.17 (5.65%).
Islamic Arab Insurance (IAIC) 1.37 (3.00%) was the only gainer on significant volume.

Abu Dhabi Securities Market

On the ADX. 9 shares advanced and 31 declined.
Decliners included: Aabar Energy (AABAR) 3.22 (4.17%), Dana Gas (DANA) 1.11 (5.13%), Ras Al Khaimah Cement (RAKCC) 1.88 (3.09%) and Methaq Islamic Insurance (METHAQ) 7.53 (3.83%).
Gainers included: Abu Dhabi National Building Materials (BILDCO) 3.72 (3.62%) and Union National Bank (UNB) 6.00 (3.63%).

Dubai Financial Market and Abu Dhabi Securities Market index for 22 October 2008

UAE stock market news and discussions at Dubai Share Talk ...

best stock rises
symbol price change
ALMADINA 5.40 +0.70 +14.9%
RAKCEC 2.85 +0.22 +8.4%
FGB 14.75 +0.95 +6.9%
ADAVIATION 2.75 +0.11 +4.2%
UNB 6.00 +0.21 +3.6%
worst stock falls
symbol price change
OEIHC 2.71 -0.30 -10%
TAMWEEL 2.30 -0.23 -9.1%
ADNH 4.74 -0.43 -8.3%
SHUAA 3.08 -0.27 -8.1%
ARMX 1.61 -0.14 -8%
top volume
symbol value (AED) price
EMAAR296,176,4845.74
FGB126,611,27714.75
ARTC99,761,3847.00
ALDAR86,346,5105.95
DFM70,974,8152.60

Posted by sharewadi at 17:38

Tuesday, October 21, 2008

UAE markets 21 Oct 2008

UAE market news & discussions for 21 October 2008

UAE markets continued to rise today. Despite a promising start the DFM index fell for most of the day but still managed to end up 1.22% at 3351. The ADX held onto its early gains closing 3.75% up at 3652.
The value of trading was up with a little over 1.5 billion dirhams worth of shares traded on the DFM and 600 million on the ADX.
On the ADX, the banks did well lead by ADIB up 7.54% and FGB up 9.52% (limit up again, profit result below) and realestate was also up, both ALDAR 3.64% and SOROUH 4.37% closed higher.
On the DFM, EMAAR was up for a third day closing 2.71% higher at 6.06 dirhams on turnover of over 100 million shares. DFM also did well closing 2.91% higher at 2.82 dirhams on turnover of 56 million shares. ARTC statred well but closed 2% lower at 7.51 dirhams at the end of trade.
TAMWEEL and AMLAK reported progress in merger talks and it was reported some sort of limited banking licence might be forthcoming in the future. The ability to take deposits will be very important in the future as the wholesale money markets remain uneconomic.
RESULTS:
DFM 2008Q3 profit Dhs 220m +88% from pcp
NBAD 2008Q3 profit 650m +13% from pcp
FGB 2008Q3 profit 370m +68% from pcp

Dubai Financial Market

On the Dubai FM, 14 shares advanced and 11 declined.
Gainers included: Air Arabia (AIRARABIA) 1.34 (0.75%), Deyaar Development (DEYAAR) 1.30 (2.36%), Dubai Islamic Bank (DIB) 5.14 (2.59%) and Tamweel Finance (TAMWEEL) 2.53 (0.79%).
Decliners included: Dubai Investment Company (DIC) 2.25 (0.88%), Gulf Navigation (GULFNAV) 1.19 (0.74%) and Islamic Arab Insurance (IAIC) 1.33 (0.74%).

Abu Dhabi Securities Market

On the ADX, 33 shares advanced and 5 declined.
Gainers included: WAHA 1.35 (6.30%), Aabar Energy (AABAR) 3.36 (5.00%), Dana Gas (DANA) 1.17 (1.74%) and Emirates Telecom (ETISALAT) 16.05 (3.55%).
No shares fell on significant volumes.

Dubai Financial Market and Abu Dhabi Securities Market index for 21 October 2008

UAE stock market news and discussions at Dubai Share Talk ...

best stock rises
symbol price change
FCI 5.32 +0.48 +9.9%
UNB 5.79 +0.52 +9.9%
SHUAA 3.35 +0.30 +9.8%
FOODCO 3.59 +0.32 +9.8%
ADSB 4.38 +0.39 +9.8%
worst stock falls
symbol price change
GLOBAL 11.25 -1.20 -9.6%
GRAND 1.55 -0.10 -6.1%
TAKAFUL-EM 2.60 -0.10 -3.7%
OEIHC 3.01 -0.08 -2.6%
ALFIRDOUS 1.55 -0.04 -2.5%
top volume
symbol value (AED) price
EMAAR636,898,5196.06
ALDAR208,629,3726.27
DFM163,742,1452.82
ARTC159,829,2717.51
SOROUH121,106,6765.26

Posted by sharewadi at 18:19

Monday, October 20, 2008

UAE markets 20 Oct 2008

UAE market news & discussions for 20 October 2008

The UAE markets closed higher today meaning that we have now have two days of positive trading. The DFM index ended 2.95% up at 3310 with the value of shares traded at 1.095 billion dirhams. The ADX index closed at 3520 a rise of 2.15% from the previous close. However the value of shares traded was only 559 million dirhams.
On the DFM, trading was dominated by: EMAAR up 6.11% to 5.90 on turnover of 89 million, AIRARABIA up 6.40% to 1.33 on turnover of 71 million and AJMANBANK up 8.90% to 2.08 on turnover of 33 million shares.
On the ADX trading was dominated by: ADIB up 6.91% to 4.64 (results below), FGB up 9.57% to 12.65 (limit up), UNB up 9.34% to 5.27 and TAQA up 7.50% to 2.15.
Trading seemd more positive and steady so far this week. However with news this morning that ING (The Netherlands biggest bank) was bailed out it remains to be seen how long the confidence will last.
RESULTS
ADIB 2008Q3 Net Profit Dhs 216.5m up 57.8% from pcp
WAHA 2008Q3 Net Profit Dhs 40m up 34% from pcp

Dubai Financial Market

On the Dubai Financial Market (DFM), 24 shares advanced and one declined.
Gainers included: Amlak Finance Company (AMLAK) 2.30 (3.60%), ARETC 7.67 (4.35%), Dubai Financial Market (DFM) 2.74 (5.38%), Gulf Navigation (GULFNAV) 1.20 (4.34%) and National General Cooling (TABREED) 1.22 (5.17%).
Emirates NBD (ENBD) was the only decliner falling 0.85% to 6.94 dirhams.

Abu Dhabi Securities Market

On the ADX, 24 shares advanced and 13 declined.
Gainer included: Abu Dhabi Commercial Bank (ADCB) 3.18 (1.60%), Aldar Properties (ALDAR) 6.05 (2.02%) and Sorouh Real Estate (SOROUH) 5.04 (2.02%).
Decliners included: Ras Al Khaimah White Cement (RAKWCT) 1.50 (2.60%), Ras Al Khaimah Cement (RAKCC) 1.87 (2.09%) and Agthia Group (AGTHIA) 1.30 (0.76%).

Dubai Financial Market and Abu Dhabi Securities Market index for 20 October 2008

UAE stock market news and discussions at Dubai Share Talk ...

best stock rises
symbol price change
SALAM 16.10 +2.10 +15%
FGB 12.60 +1.10 +9.6%
UNB 5.27 +0.45 +9.3%
BOS 2.83 +0.24 +9.3%
UCC 3.98 +0.33 +9%
worst stock falls
symbol price change
RAKCEC 2.63 -0.29 -9.9%
ADSB 3.99 -0.42 -9.5%
QCEM 1.71 -0.15 -8.1%
DRIVE 6.00 -0.35 -5.5%
AKIC 1.73 -0.09 -4.9%
top volume
symbol value (AED) price
EMAAR524,526,3485.90
ALDAR209,998,0266.05
SOROUH112,043,9435.04
ARTC111,809,3167.67
AIRARABIA93,557,5051.33

Posted by sharewadi at 17:26

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