UAE market news & discussions for 29 May 2008The ADX once again saw high trading levels with the cement companies soaring on heavy trading - RAK White Cement in particular with turnover far in excess of their usual daily volume. The DFM turned around and had a marginal increase, with Union Properties the most heavily traded stock by value but rising only 1%. On the DIFX at 4pm, DP World was up 2% to $0.98, and Depa was unchanged at $1.56. Other news ...
Agenda for the coming weekThursday, 29 May 2008 ASNIC rights issue subscription period. Saturday, 31 May 2008 ASNIC rights issue subscription period. Sunday, 01 June 2008 ASNIC rights issue subscription period. Monday, 02 June 2008 ASNIC rights issue subscription period. Tuesday, 03 June 2008 ASNIC rights issue subscription period. Wednesday, 04 June 2008 ASNIC rights issue subscription period. Thursday, 05 June 2008 Al Salam Bank Sudan listing date DFM DubaiShareTalk latest posts |
- 29 May 2008 ADX DFM DIFX disclosures & news
- ADIB party at JBH and Algeria Egypt updates
- Arab Orient Takaful Insurance Egypt
- DEYAAR Mirar at DuBiotech (sold out)
- DGCX first day oil futures heavy trading
- DIC - A Good buy? - analysis
- DPW annual general meeting
- Ekttitab DFM listing
- EMAAR Burj Dubai base jump
- Insider trades May 2008
- TAQA Iberdrola contract
- WARE Agility US military contract renewal
- 28 May 2008 ADX DFM DIFX disclosures & news
More UAE stock market news and discussions...
|
|
|
Dubai Financial Market
Turnover on the DFM improved to AED 1.14 billion today as it rose slightly by 0.17% to 5679 points. Union Properties (UPP) was the dominant share with a small 0.96% gain to 5.24, just ahead of Emaar Properties (EMAAR) (up 0.44% to 11.45) by traded value. Tamweel (TAMWEEL) also saw increased activity and gained 1.3% to 8.04, while Dubai Investments (DIC), the only other stock to trade more than AED 100m for the day, fell 2.1% to 3.72.
The newly listed Kuwait company, EKTITTAB, shot 15% limit up to 3.74 on relatively high volume for a secondary listing. SALAM_BAH rose 2.5% to 2.50, Aramex (ARMX) rose 1.6% to 2.59, and the remaining gainers were up less than 1% or on thin turnover.
The losers' list was topped by ALFIRDOUS with a 4.1% fall to 2.60, excluding falls on turnover of less than AED 1m. Apart from Dubai Investments, AMAN was the only other actively traded loser falling by more than 1% - with a 1.2% drop to 36.05.
Abu Dhabi Securities Market
The ADX continued to see a high level of activity with total value up to AED 2.6 billion and a 0.77% increase to 5038. Staggering turnover levels yet again for RAK Cement (RAKCC) up 6.9% to 3.33 and AED 650 million worth of trades, ARKAN up 3.0% to 6.23 and AED 391m worth, RAK White Cement (RAKWCT) up 5.3% to 2.83 and AED 310 million worth. Both RAK Cement and RAK White Cement daily volumes the highest seen for at least 12 months.
The top 4 gainers rose on less than AED 1 million turnover each, and DRIVE was up by 7.7% to 9.00. Other UAE cement companies also saw solid gains with Gulf Cement (GCEM) up 6.5% to 7.00, QCEM up 5.7% to 3.20, FCI up 10% to 6.05, but Sharjah Cement (SCIDC) didn't follow the trend, falling by 1.6% to 5.60.
Other gainers included RAK Ceramics (RAKCEC) up 4.2% to 4.13, RAK Properties (RAKPROP) up 3.5% to 2.36, Julphar (JULPHAR) up 2.2%, National Bank of Abu Dhabi (NBAD) up 2.1%, and another 14 stocks, including most of the more usually active stocks, rising by less than 2%. Etisalat (ETISALAT) was unchanged at 20.90.
Commercial Bank International (CBI) was at the top of the losers' list on turnover greater than AED 1 million, with a 2.8% fall to 2.76. Another 5 stocks had greater falls on thin trading.
RAK Poultry (RAPCO) dropped by 2.5% to 5.07, AKIC was dowwn 1.2%, and another 6 stocks fell less than 1%, including Sorouh Real Estate (SOROUH) and Abu Dhabi Islamic Bank (ADIB).
- Comment on this report and view previous reports on the Share Wadi blog.
- Discuss UAE companies at Dubai Share Talk.