DFM & ADSM reports

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

Monday, November 26, 2007

UAE markets 26 Nov 2007

UAE market news & discussions for 26 November 2007

A subdued days trading on UAE local markets today. The DFM index finished down 0.73% and the ADSM index finished up 0.51% both on relatively modest volumes.
On the DFM, DEYAAR was the top traded share falling 1.06% to 2.80 dirhams.
On the ADSM, ARKAN was the top traded share rising 1.64% to 3.09 dirhams.

On DIFX, DPW listed rising to $1.37 on turnover of 264 million shares. Trading should pick up as allocations are confirmed for subscribers to the IPO.

In other business news:
SHUAA has gained approval to start a financial brokerage in Saudi Arabia.

Stock reports available this week for Dubai Islamic Bank (OVERWEIGHT) from TAIB, UAE banks from HC Securities, and Air Arabia (ACCUMULATE/BUY) from EFG Hermes.

Dubai Financial Market and Abu Dhabi Securities Market index for 26 November 2007

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best stock rises
symbol price change
INVESTB 3.64 +0.33 +10%
ASMAK 6.31 +0.56 +9.7%
AKIC 1.66 +0.13 +8.5%
ADNIC 9.00 +0.55 +6.5%
TKFL 5.68 +0.28 +5.2%
worst stock falls
symbol price change
WARE 17.00 -3.00 -15%
OEIHC 29.50 -2.90 -9%
NMDC 5.54 -0.52 -8.6%
RAKBANK 7.20 -0.55 -7.1%
DIN 30.45 -1.60 -5%
top volume
symbol value (AED) price
DEYAAR743,384,5922.80
DFM447,193,7206.43
AIRARABIA364,378,7141.85
EMAAR252,223,14512.70
ARKAN158,316,1813.09

Dubai Financial Market

The DFM index closed at 5,366 a fall of 0.73% from the previous close. 669 million shares traded worth 2.2 billion dirhams. Six shares advanced and eighteen declined.
The top traded shares was DEYAAR falling 1.06% to 2.80 dirhams on volume of 260 million shares.

Other shares to fall included: Amlak Finance (AMLAK) 4.22 (2.08%), DFM 6.43 (1.07%), Emaar Properties (EMAAR) 12.70 (1.93%) and GULFNAV 1.61 (1.82%). AIRARABIA finished steady on 1.85 dirhams on volume of 194 million shares traded.

Shares to rise included: Aramex (ARMX) 2.94 (0.34%), Union Properties (UPP) 4.14 (0.24%) and Emirates NBD (ENBD) 13.25 (1.14%).

Abu Dhabi Securities Market

The ADSM index closed at 4,206 an increase of 0.51% from the previous close. 153 million shares traded worth 625 milion dirhams. Twenty eight shares advanced and eleven declined.
The top traded share was ARKAN rising 1.64% to 3.09 dirhams on volume of 51 million shares traded.
Both RAK Properties (RAKPROP) 2.03 and Oasis Leasing (OILC) 2.43 finished steady on reasonable trading volumes.

Other shares to rise included: Aabar Petroleum (AABAR) 3.76 (0.53%), TKFL 5.68 (4.80%), Aldar Properties (ALDAR) 9.77 (0.41%), Etisalat (ETISALAT) 21.55 (0.47%) and Sorouh Real Estate (SOROUH) 6.86 (2.69%).

Shares to fal included: RAK White Cement (RAKWCT) 2.17 (3.13%), RAK Cement (RAKCC) 2.12 (0.47%), SIB 3.22 (1.83%) and Union National Bank (UNB) 9.30 (3.53%).

Posted by sharewadi at 17:34

Sunday, November 25, 2007

UAE markets 25 Nov 2007

UAE market news & discussions for 25 November 2007

Both the ADSM and DFM had gains of about half a percent on lower volumes today. National Corporation for Hotels and Tourism (NCTH) and First Gulf Bank (FGB) in Abu Dhabi stood out with 5% and 4% gains respectively on active trading. First Gulf Bank were given a fair value rating of 20.20 dhs per share in a report from The National Investor.

The Dubai Investments chairman forecast AED 1.3 billion profit for 2007, DIC shares rose 1.5% today. Shuaa Capital received approval to start its Saudi brokerage operations. There was net foreign investment on the DFM last week, not much, but better than net sales the week before. Tamweel announced a deal with Bonyan Real Estate (not listed) for AED 2 bn of land in Dubai. Tamweel shares rose 0.5%. Emirates Airlines forecast 2007 profits to double.

Some DP World IPO institutional subscribers had an unpleasant surprise when they discovered they were allotted no shares at all. Further news has been limited but there are reports that it was Deutsche Bank, Merrill Lynch, and Rasmala clients who missed out. We don't know what to say. But then apparently, neither does DP World - we've not seen any official comment. It does somewhat dampen the excitement of the listing of DP World on the DIFX tomorrow. Don't forget to add your best estimate to the forum poll for the closing price on the first day.

Dubai Financial Market and Abu Dhabi Securities Market index for 25 November 2007

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best stock rises
symbol price change
TKFL 5.42 +0.49 +9.9%
ABNIC 9.00 +0.63 +7.5%
FBICO 2.69 +0.16 +6.3%
NCTH 7.00 +0.36 +5.4%
NCC 9.81 +0.46 +4.9%
worst stock falls
symbol price change
OEIHC 29.20 -2.95 -9.2%
ADSB 4.50 -0.25 -5.3%
AKIC 1.53 -0.08 -5%
DIN 32.05 -1.65 -4.9%
INVESTB 3.31 -0.17 -4.9%
top volume
symbol value (AED) price
DEYAAR495,364,0592.83
DFM389,708,3076.50
EMAAR277,841,16912.95
AIRARABIA197,090,1681.85
GULFNAV109,890,7401.64

Dubai Financial Market

The DFMGI was up 0.59% to 5405 points from moderate turnover of AED 1.75 billion. The top three shares on value traded were the usual DEYAAR up 1.1%, DFM up 1.6%, and Emaar Properties (EMAAR) down 0.8%.

Arabtec (ARTC) was the top gainer on turnover greater than AED 1m dhs, with a 3.1% rise to 8.06. Other rises from Aramex (ARMX) up 2.5%, Tabreed (TABREED) up 2.3%, AMAN up 1.8%, Du Telecom (DU), AIRARABIA, Amlak Finance (AMLAK) all up about 1.65%, Islamic Arab Insurance (IAIC) up 1.6% and the rest of the gainers up less than 1.5%.

Only 5 losers today with only 2 trading more than AED 1m dhs worth. Emirates NBD (ENBD) down just 0.4%, and Emaar.

Abu Dhabi Securities Market

The ADSMI rose 0.5% from subdued turnover of AED 458m to close at 4186 points. ARKAN topped the traded value table with a 3.1% rise to 3.08, First Gulf Bank (FGB) was in second place with a 4.2% gain to 21.00.

Surprisingly high turnover from NCTH which rose 5.4% to close at 7.00. Other gains of note for TKFL up 9.5% to 5.44 and no sellers in the queue, Commercial Bank International (CBI) up 3.8% to 3.02, and NBS up 3.1%.

Union Cement (UCC) was the worst of the losers trading more than AED 1m dhs, with a 3.4% fall to 4.05. Aabar Petroleum (AABAR) fell 2.1%, National Bank of Abu Dhabi (NBAD) down 2%, Oasis Leasing (OILC) down 1.6%, Sorouh Real Estate (SOROUH) down 1.2%, and a handful of others fell less than 1% or on low volumes.

Posted by sharewadi at 14:54

Thursday, November 22, 2007

UAE markets 22 Nov 2007

UAE market news & discussions for 22 November 2007

Both the ADSM and DFM fell today with Aldar Properties heavily traded in Abu Dhabi as more shares were issued, and Deyaar, DFM, and Emaar dominating trading in Dubai while suffering losses.

RAK Airways, almost forgotten after a series of launch delays, started selling tickets today for its first flight to Beirut on the 29th of this month. There was no mention of a previously rumoured IPO. And Emirates Airlines denied yesterday's news of an IPO in early 2008.

However, DIFCWeek speakers said more IPOs were forecast for the region next year after the 15x oversubscription of the DP World IPO, and the 41x oversubscription of Egypt's Talaat Mustafa Group IPO this week.

Emaar released disclosures clarifying last week's report about the Jeddah Hills project, saying it was still going on. And Emirates NBD issued a clarification denying the report of a London listing for their bond issue.

Aldar Properties outstanding shares increased by 45m (a 2.3% dilution) from Sukuk conversion (Monday's notification) and a notification was issued today for another 148m shares to be added (a further 7.5% dilution). Aldar shares fell 2.9% today. Dana Gas opened a new office in Kurdistan, their shares were down 0.5%.

Dubai Financial Market and Abu Dhabi Securities Market index for 22 November 2007

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best stock rises
symbol price change
TKFL 4.95 +0.40 +8.8%
OEIHC 29.65 +2.05 +7.4%
FBICO 2.53 +0.12 +5%
ADSB 4.75 +0.14 +3%
FOODCO 4.15 +0.11 +2.7%
worst stock falls
symbol price change
WARE 20.00 -3.50 -14.9%
ADNH 7.77 -0.69 -8.2%
ALFIRDOUS 2.30 -0.20 -8%
FGB 20.10 -1.25 -5.9%
ASCANA 3.26 -0.17 -5%
top volume
symbol value (AED) price
DEYAAR627,786,0932.80
EMAAR489,060,74913.05
DFM466,066,2966.40
ALDAR276,725,7469.71
AIRARABIA178,227,5871.82

Dubai Financial Market

The DFMGI had an 1.15% fall to 5374 points from moderate turnover of AED 2.3 billion. Shuaa Capital (SHUAA) was the only normally actively traded stock to show an increase, of just 0.8%, but that was on very limited trading of only AED 1m worth. Stocks that are normally less liquid saw greater turnover with increases for Global Investment House (GLOBAL) up 1.7%, and less than 1% increases for Emirates NBD (ENBD), Commercial Bank of Dubai (CBD), and AMAN. GGICO was the only other stock to rise, by 2.7% on very low trading levels.

Losers on turnover of more than AED 1m included DFM down 3% to 6.40, Dubai Islamic Bank (DIB) down 2.9% to 10.05, Emaar Properties (EMAAR) down 2.3% to 13.05, and AIRABIA and Union Properties (UPP) both falling 2.15%. Others fell less than 2% or on limited turnover.

Abu Dhabi Securities Market

The ADSM slumped 2% to 4165 points from turnover down to AED 726m with Aldar Properties (ALDAR) the only stock to trade more than 100m dhs worth. It fell 2.9% to 9.75.

Out of the 11 stocks to rise, none traded more than 1m dhs worth. Bank Of Sharjah (BOS) had the highest turnover, at 692,000 dhs, of the stocks increasing, and rose by just 0.3% to 3.08. TKFL had the highest rise on just 191,000 dhs from 8 trades.

Losers trading more than 1m dhs were ADNH plummeting 8.2% to 7.71, First Gulf Bank (FGB) lurching by 5.9% to 20.00, National Bank of Abu Dhabi (NBAD) down 3%, Oasis Leasing (OILC) and Abu Dhabi Commercial Bank (ADCB) down 2.8%, and AGTHIA down by 2%. Etisalat (ETISALAT) fell 1.8% to 21.25 on moderate trading levels.

Posted by sharewadi at 16:46

Wednesday, November 21, 2007

UAE markets 21 Nov 2007

UAE market news & discussions for 21 November 2007

Both UAE markets declined today falling by more than one percent, with trading volumes down from previous days.
On the DFM, DEYAAR topped trading falling by 2.43% and EMAAR, AIRARABIA, AMLAK and GULFNAV all fell by 3% or more.
On the ADSM RAKPROP topped trading falling by over 5%. ALDAR, DANA and OILC all fell by more than 4%.

Business news was dominated by the closing of the DP World IPO 15x over subscribed. The final price was set at $1.30 the top of the indicative range and implying a market cap for the whole company of $21.6 billion. Trading starts on 26 November 2007 and retail investors will receive at least 3500 shares.
In other news:
The price of oil passed $99 per barrel in Asian trading.
UAE Federal Government Employees will recieve a 70% pay increase effective JAN 2008.
Analysts at Citi rate ME equity markets a buy due to low valuations and low correlation with global markets.

Dubai Financial Market and Abu Dhabi Securities Market index for 21 November 2007

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best stock rises
symbol price change
NMDC 6.09 +0.49 +8.8%
BOS 3.03 +0.06 +2%
RAKCEC 5.40 +0.10 +1.9%
TKFL 4.55 +0.04 +0.9%
NBAD 23.00 +0.10 +0.4%
worst stock falls
symbol price change
UNION 2.45 -0.27 -9.9%
ADSB 4.61 -0.26 -5.3%
ASCANA 3.43 -0.18 -5%
RAKPROP 2.05 -0.10 -4.7%
OILC 2.48 -0.12 -4.6%
top volume
symbol value (AED) price
DEYAAR949,329,0842.81
DFM428,002,3666.60
EMAAR365,655,68813.35
AIRARABIA267,857,0301.86
ALDAR166,719,71510.00

Dubai Financial Market

The DFM index closed at 5,436 down 1.74% from the previous close. 753 million shares traded worth 2.6 billion dirhams. Two shares advanced and twenty three declined.
The Top traded shares were DEYAAR losing 2.43% to close at 2.81 dirhams on turnover of 337 million traded and AIRARABIA losing 3.12% to close at 1.82 dirhams on turnover of 143 million traded.

Other shares to fall included: Amlak Finance (AMLAK) 4.30 (3.37%), DFM 6.60 (0.15%), Emaar Properties (EMAAR) 13.35 (2.90%) and GULFNAV 1.63 (3.55%).

Two shares rose: Emirates NBD (ENBD) 13.05 (0.38%) and Dubai National Insurance & Reinsurance (DNIR) 4.41 (0.22%) on small volumes traded.

Abu Dhabi Securities Market

The ADSM index closed at 4,248 down 1.17% from the previous clsoe. 171 million shares traded worth 743 million dirhams. Six shares advanced and thirty two declined.
The top traded share was RAK Properties (RAKPROP) declining 5.12% to 2.05 dirhams on turnover of 38 million traded.

Other shares to fall included: Aldar Properties (ALDAR) 10.00 (4.31%), ARKAN 3.00 (3.23%), Dana Gas (DANA) 2.06 (4.19%), Oasis Leasing (OILC) 2.48 (4.62%), Sorouh Real Estate (SOROUH) 6.87 (1.15%) and Etisalat (ETISALAT) 21.80 (0.23%).

Shares to rise included: National Bank of Abu Dhabi (NBAD) 23.00 (0.44%), Finance House (FH) 7.17 (0.14%) and Bank Of Sharjah (BOS) 3.03 (2.02%) all on small volumes traded.

Posted by sharewadi at 14:46

Tuesday, November 20, 2007

UAE markets 20 Nov 2007

UAE market news & discussions for 20 November 2007

The DFMGI fell while the ADSM index surged ahead, dragged up by hefty trading and a solid increase in Etisalat shares - perhaps related to news of their expansion plans in Africa.

The DIFX has been a little busier than usual so far today, a total of 17 trades mostly from KHI falling slightly, and a couple for HIK.

SHOP released their full third quarter accounts, which leaves just 3 Kuwait companies, and Al Firdous holdings, with accounts unavailable.

The UAE company reports on ShareWadi.com have been updated to include green and red flags for financial entries of significance.

Dubai Financial Market and Abu Dhabi Securities Market index for 20 November 2007

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best stock rises
symbol price change
DDC 2.20 +0.20 +10%
UNION 2.71 +0.19 +7.5%
ETISALAT 21.85 +1.30 +6.3%
CBI 2.97 +0.17 +6.1%
NBF 3.74 +0.16 +4.5%
worst stock falls
symbol price change
IFA 10.35 -1.80 -14.8%
ALFIRDOUS 2.62 -0.30 -10.3%
ABNIC 8.37 -0.93 -10%
NMDC 5.60 -0.36 -6%
TKFL 4.51 -0.27 -5.6%
top volume
symbol value (AED) price
DEYAAR461,691,2352.88
DFM439,862,3636.61
EMAAR330,473,29313.75
ALDAR229,868,96710.45
OILC148,338,0862.60

Dubai Financial Market

The DFMGI had an early fall and recovery before a steady decrease set in, with the index closing at 5533 from lower turnover of AED 1.9 billion. Apart from some increases in 3 illiquid stocks, including 2 trades for the previously never-traded DDC, all DFM listed stocks that traded today, fell in price.

DFM shares copped the biggest hit on turnover greater than AED 1m, with a 4.3% fall to 6.61 and AED 440m worth of shares going through the books. Tamweel (TAMWEEL) lost 3.8%, Aramex (ARMX) 3.3%, Tabreed (TABREED) 3.2%, and AMAN 3%. Amlak Finance (AMLAK), DEYAAR, Arabtec (ARTC), GULFNAV, Emaar Properties (EMAAR), Union Properties (UPP), AIRARABIA, and Islamic Arab Insurance (IAIC) all fell 2-3%. The remaining actively traded stocks fell less than 2%.

Abu Dhabi Securities Market

The ADSM index closed up by at points, with just over one billion dhs worth of trading, led by Etisalat (ETISALAT) which rose 6.3% to 21.60. First Gulf Bank (FGB) also performed well with busy trading and a 4.3% increase to 21.75.

Of the 19 shares to rise today, only a handful were significant with most on turnover of less than AED 1m. The other rises worth noting were were Sharjah Cement (SCIDC) up 2.6%, ASMAK up 1.4% - stock that rarely appears on the radar. Sudan Telecom (SUDATEL), RAK White Cement (RAKWCT) and Union National Bank (UNB) all rose less than 1%.

Most of the more active stocks pulled back today with Aldar Properties (ALDAR) dropping 2.8% and sitting at the top of the turnover table with AED 230m worth of trades. ABNIC was the worst fall with a single very large limit down trade at 8.37, TKFL lost 5.7%, RAK Properties (RAKPROP) and Dana Gas (DANA) were down by 1.8% each, NBS fell 1.2%, and the remaining falls were less than 1% or on turnover of less than 1m dhs.

Posted by sharewadi at 15:58

Monday, November 19, 2007

UAE markets 19 Nov 2007

UAE market news & discussions for 19 November 2007

Both UAE market indicies finished lower today on modest trading volume compared to recent trading sessions.
The DFM index finished 1.02% lower with trading led by DEYAAR closing 1.00% lower at 2.96 dirhams.
The ADSM index finished 0.29% lower with trading led by RAKPROP closing 3.10% lower.

Business news was dominated by continuing speculation about the AED/Dollar peg.
Advice is now coming from every where. Steve Forbes of Forbes 500 fame advised GCC nations to retain the peg but to go for a large one off revaluation of 20 to 25%.
In other news DP said it will increase the number of shares offered in DPW to 23%. It will now raise 4.96 billion dollars from the IPO.

Dubai Financial Market and Abu Dhabi Securities Market index for 19 November 2007

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best stock rises
symbol price change
FBICO 2.34 +0.21 +9.9%
NBF 3.57 +0.32 +9.8%
OEIHC 29.60 +2.65 +9.8%
INVESTB 3.51 +0.12 +3.5%
FGB 20.80 +0.45 +2.2%
worst stock falls
symbol price change
MAZAYA 8.23 -1.45 -15%
RAPCO 3.69 -0.41 -10%
ADNIC 8.45 -0.85 -9.1%
TKFL 4.78 -0.38 -7.4%
FCI 5.00 -0.35 -6.5%
top volume
symbol value (AED) price
DEYAAR750,641,2872.96
DFM416,466,1096.91
EMAAR409,714,22014.05
SOROUH333,772,7816.97
ALDAR258,180,70510.75

Dubai Financial Market

The DFM index closed at 5,635 a fall of 1.02% from the previous close. 552 million shares traded worth 2.3 billion dirhams. Three shares advanced and twenty declined.
The top traded share was DEYAAR falling 1.00% to 2.96 dirhams on volume of 250 million shares.

Other shares to decline included: AIRARABIA 1.96 (1.50%), Amlak Finance (AMLAK) 4.58 (2.34%), DFM 6.91 (1.98%) GULFNAV 1.73 (1.70%) and Emaar Properties (EMAAR) 14.05 (0.70%).

Three shares rose today: Arabtec (ARTC) 8.04 (0.97%) reversing yesterdays fall, ARAMEX 3.04 (0.33%) and UNION 4.35 (0.46%).

Abu Dhabi Securities Market

The ADSM index closed at 4,229 a fall of 0.29% from the previous close. 249 million shares traded worth 1.2 billion dirhams. Thirteen shares advanced and thirty two declined.
The top traded share was RAK Properties (RAKPROP) falling 3.10% to 2.19 dirhams on volume of 51 million shares.

Other shares to decline inlcluded: Aabar Petroleum (AABAR) 4.02 (2.66%), Aldar Properties (ALDAR) 10.75 (3.15%), ARKAN 3.12 (1.89%) Dana Gas (DANA) 2.19 (2.25%) and Oasis Leasing (OILC) 2.60 (3.35%).

Shares to rise included: First Gulf Bank (FGB) 20.80 (2.21%), Sorouh Real Estate (SOROUH) 6.97 (1.47%), UAB 7.14 (0.56%) and Gulf Cement (GCEM) 6.33 (1.44%).

Posted by sharewadi at 15:32

Sunday, November 18, 2007

UAE markets 18 Nov 2007

UAE market news & discussions for 18 November 2007

Both UAE markets started of the week with a solid rise and a good level of trading activity with Aldar, Sorouh, and Oasis Leasing leading the way in Abu Dhabi, while Union Properties and Emaar helped the property sector along in Dubai. DFM's own shares continued their apparently relentless rise on heavy trading once again.

Oil and the US dollar were the focus of the news today, with further speculation on whether or not the UAE and Saudi will stay linked to the dollar peg. And Mr Chavez, a politician from Venuzuela who was advised to shut up last week, remained steadfastly in the spotlight, with optimistic oil price forecasts, and interesting advice for OPEC. Or perhaps he just wants to see his name in newspaper headlines and UAE share market reports.

DFM saw net foreign selling last week, for the first time this month. The DP World IPO closed on Thursday with little indication of how much demand there had been from retail investors. Emaar's Jeddah Hills project in Saudi may not go ahead due to problems with obtaining permissions, but phases II and III of their Gold and Diamond Park in Dubai have been completed.

Dubai Financial Market and Abu Dhabi Securities Market index for 18 November 2007

2007 Q3 financial accounts updated

Company account summaries for 2007 Q3 can now be viewed on ShareWadi.com in all GCC currencies, as well as USD, GBP, EGP, and EUR.

  • Gulf Petroleum Industries may have released third quarter statements (not found).
  • National Real Estate (NRE) released full accounts today (not reviewed).
  • Oman & Emirates Investment Holding Company (OEIHC) released full accounts with one of the better directors' reports we've seen.

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More UAE stock market news and discussions...

best stock rises
symbol price change
IFA 12.15 +1.25 +11.5%
FBICO 2.13 +0.19 +9.8%
ABNIC 9.30 +0.81 +9.5%
ARIG 3.74 +0.27 +7.8%
UNION 2.51 +0.17 +7.3%
worst stock falls
symbol price change
NBF 3.25 -0.35 -9.7%
NMDC 6.04 -0.41 -6.4%
UCC 4.07 -0.23 -5.3%
INVESTB 3.39 -0.14 -4%
OEIHC 26.95 -0.80 -2.9%
top volume
symbol value (AED) price
DFM811,704,1067.05
ALDAR789,609,85211.10
EMAAR703,696,71214.15
DEYAAR537,800,2892.99
RAKPROP410,301,6892.26

Dubai Financial Market

The DFMGI saw a promising 1.25% rise from sturdy turnover of AED 3.28 bn to close at 5694, after almost hitting an intra-day peak of 7750.

DFM shares topped the turnover table with AED 812 bn of trading while increasing 2.3% to 7.05, and Emaar Properties (EMAAR) was not far behind with AED 704m dhs of trading and a 1.8% rise. But it was Union Properties (UPP) with the best rise (out of stocks trading more than AED 1m), heading up by 4.3% to close at 4.33. Shuaa Capital (SHUAA) also looking good with a 4% rise to 6.50. Dubai Islamic Bank (DIB) rose 2.3% and the remaining traded stocks were up less than 2% or on low turnover.

Only 2 stocks fell today, Arabtec (ARTC) standing out with a 2.8% fall to 7.97 but limited turnover, and AMAN down 1.15%.

Abu Dhabi Securities Market

The ADSM rose almost 1% to 4242 points from a solid AED 2.4 billion of turnover. Top traded stocks and share price increases were Sorouh Real Estate (SOROUH) up 5.9% to 7.00 from 371m dhs of turnover, Aldar Properties (ALDAR) up 5.7% to 11.00 and 790m dhs, Oasis Leasing (OILC) up 5.1% to 2.66 and AED 350m dhs.

UNION insurance topped the gainers list (ignoring stocks trading less than 1m dhs worth) with a surprisingly busy day and a 7.3% rise to 2.56. Other increases for RAK Properties (RAKPROP) and Commercial Bank International (CBI) up 3.7%, First Gulf Bank (FGB) up 3.6% and RAK White Cement (RAKWCT) up 2.3%. The remaining increases were less than 2%.

Union Cement (UCC) stood out amongst the losers with a 5.35% fall to 4.01 and a relatively busy 4.65m dhs of trading. NBF was limit down but saw just 2 trades. ARKAN was the next worst loser on active trading with a 2.2% fall, Finance House (FH) fell 2%, and another 7 stocks fell less than 1%. Etisalat (ETISALAT) was down just 0.24% to 20.50.

Posted by sharewadi at 15:24

Thursday, November 15, 2007

UAE markets 15 Nov 2007

UAE market news & discussions for 15 November 2007

The UAE Central Bank Governor, Sultan Bin Nasser Al Suwaidi was reported as saying today that the UAE may consider delinking the dirham from the US dollar peg and link it to a basket of currencies instead.

The DFM wobbled about today but in the end closed higher than it started, with Deyaar and DFM shares rising slightly on, yet again, heavy turnover. The ADSM also rose and Oasis Leasing shot up as fast as it went down earlier this week. One hopes their planes don't fly like their stock price has done this week.

Emaar shares rose 2.2% today after the news yesterday that they were considering a London or New York stock market listing. They did not say anything about a DIFX or Kuwait listing - two possibilities that had been rumoured in the past.

Air Arabia and Alpha Aviation Group announced they would set up a flight training academy in Sharjah, to start in 2008. They could be busy. The DAE University boss said this week that the GCC and India region will need 3000 new pilots per year until 2015. Anybody looking for a job?

Emirates NBD joined the DFMGI index today, representing just under 15% of the DFMGI total market capitalization. Their shares rose just under 1%.

Amlak Finance announced their mortgage products were now available in Jordan from Amlak Finance (Jordan), and also said that AFJ will do an IPO in 2008 Q1 with a listing on the Jordanian stock market. Amlak shares fell slightly today.

And Union Properties and the DFM issued press releases saying they were having a nice time in New York at the investor conference. We're still waiting for our postcards.

Dubai Financial Market and Abu Dhabi Securities Market index for 15 November 2007

2007 Q3 updates today

  • Dana Gas full results were available later yesterday showing that they're not making as much money from operations as they were from keeping their money in the bank, but it's early days yet. We do however, thoroughly recommend their Directors' Report as a fine example of what we'd like to see more often from other UAE listed companies, except for the rather obtuse paragraph about the pipeline to Iran. Some good reading to go with your coffee tomorrow morning.
  • Dubai Refreshments (DRC) at first glance had solid profit growth for Q3 and moderate profit growth for M9, but the auditor's report carried a comment that DRC had overstated their profits by AED 5.5 million. Shares were untraded today.
  • Jeema Mineral Water (JEEMA) profits fall and their shares looked even more expensive based on earnings, especially since they're actually losing money from core operations. Shares have not traded for over a year.
  • Tamweel's excellent results released last month were still excellent after reviewing the full statements released yesterday, just not quite as excellent as it seemed. Tamweel accounts say they are involved in Islamic Financing and Property Development, but in the segmental analysis, more than half their income came from a third, unspecified, activity called "Other". The market didn't seem to think much of their "Other" activities though. Their shares fell 3% today.
  • Results released, but not yet reviewed for Aerated Concrete Industries, and Grand Real Estate.

Latest topics and posts

More UAE stock market news and discussions...

best stock rises
symbol price change
ACICO 6.50 +0.83 +14.6%
OILC 2.56 +0.23 +9.9%
UNION 2.34 +0.14 +6.4%
EIC 8.49 +0.47 +5.9%
NCTH 6.65 +0.30 +4.7%
worst stock falls
symbol price change
RAKBANK 7.54 -0.83 -9.9%
QTEL 225.10 -21.90 -8.9%
NMDC 5.94 -0.49 -7.6%
DIN 36.45 -1.90 -5%
TKFL 5.20 -0.27 -4.9%
top volume
symbol value (AED) price
DFM1,075,742,6676.89
DEYAAR773,782,6362.98
EMAAR453,682,75913.90
AIRARABIA371,470,0141.98
ALDAR371,075,05610.50

Dubai Financial Market

The DFMGI rose 0.73% to 5623 from 3.35 billion dhs worth of trading, not quite as much as on other days recently but still plenty of activity there. Top traded stock on turnover were DFM shares, heading up 1.8% to 6.89 from just over AED 1 billion worth of deals. DEYAAR was in second spot with 773m dhs worth and a small 0.7% rise to 2.98.

Best gain for actively traded stocks was for Emaar Properties (EMAAR) with a 2.2% rise to 13.90. Arabtec (ARTC) rose 1.2% to 8.20 and other rises were less than 1%. ACICO rose from 1 small trade.

Tamweel (TAMWEEL) was the worst of the actively traded losers, falling 3.1% to 7.12. Shuaa Capital (SHUAA) dropped 2%, ALFIRDOUS and AMAN fell 1.3% and the remainder fell less than 1%.

Abu Dhabi Securities Market

Oasis Leasing (OILC) was the best gainer today, up by 7.1% to 2.62, and second highest in terms of turnover. Aldar Properties (ALDAR) saw the highest turnover with AED 371m worth of trading and a decent 3.5% rise to 10.50.

Other rises of more than 3% and greater than 1m dhs of turnover for UNION up 6.4%, ARKAN up 3.8%, NBQ up 3.5%, and RAK Properties (RAKPROP) up 3.3%.

Only 2 stocks fell more than 1% on turnover of more than 1m dhs, Abu Dhabi Commercial Bank (ADCB) down 1.8% and Union Cement (UCC) down 1.4%. Etisalat (ETISALAT) fell by just under 1% to close at 20.50.

Posted by sharewadi at 17:45

Wednesday, November 14, 2007

UAE markets 14 Nov 2007

UAE market news & discussions for 14 November 2007

A split decsion on UAE markets today with the DFM index up 1.69% on strong volumes and the ADSM down 1.49% on lower volumes.
The DFM itself continued its run closing 7.29% higher at 6.77 dirhams on turnover of 163 million shares.
On the ADSM the index fell from the beginning with all but six stocks ending down.
OILC continued its descent closing at 2.39 dirhams a fall of 6.27% on turnover of 59 million shares.

In other business news:
The head of the UAE Central Bank hinted at changes to the Dirham/Dollar peg.
Emirates airline indicated an IPO might happen within 2 to 3 years time with up to 30% of the company on offer.

Third Quarter Results updates today

Arab Insurance Group (ARIG) saw Q3 gross premiums double and M9 premiums up 50%, but in the end lost money for the quarter and only made AED 40m for the nine months to Sep 2007 - a 20% drop compared to the same period last year. Shares fell 3% today on neglible trading.

Al Sagr Insurance (ASNIC) recovered from their investment losses last year resulting in impressive profit gains of 241% for M9 and 187% for Q3 while increases in underwriting profit were not too shabby either. Shares remained untraded.

Dana Gas (DANA) issued a press release with limited information. Net profits of AED 72m for M9 gives us a 2007 PE estimate of about 135 which looks quite expensive, but PBV looks more reasonable at 1.9. Q3 profits fell by more than 50% to AED 22m compared to 2006 Q3. Share price fell 4% today.

Gulf Finance House (GFH) released full statements showing large gains from investment income filtering down to a 30% increase in net profit for M9 and 50% for Q3. Shares were up 5% today. Finding the actual number of shares outstanding from their statements proved to be beyond us though.

Gulf General Investments (GGICO) gross profits increased about 20% for both Q3 and M9 but net profit fell slightly for Q3 to AED 89m and rose less than 10% to AED 350m for M9 (after deduction of minority interests). Shares were unchanged at 8.62 today.

National Cement Company (NCC) had a 25% increase in gross profit for M9, and 15% for Q3 but net profits decreased dues to losses from investments and derivative contracts with AED 45m for Q3 and AED 147 for M9. No trades in NCC today.

United Kaipara Dairies Company (UNIKAI) saw a 60% increase in M9 profits to AED 19m from increased revenues, but third quarter profits increased only 6% to AED 8.3m. Their shares remained untraded.

Results released but not reviewed yet for International Investment Group (IIG) and Al Madina for Finance & Investment (ALMADINA).

Dubai Financial Market and Abu Dhabi Securities Market index for 14 November 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
TKFL 5.47 +0.46 +9.2%
DFM 6.77 +0.46 +7.3%
GFH 10.90 +0.50 +4.8%
OEIHC 27.75 +0.95 +3.5%
UPP 4.15 +0.13 +3.2%
worst stock falls
symbol price change
FBICO 1.94 -0.21 -9.8%
OILC 2.39 -0.16 -6.3%
ADNH 8.16 -0.45 -5.2%
ASCANA 3.80 -0.20 -5%
DIN 38.35 -2.00 -5%
top volume
symbol value (AED) price
DFM1,076,093,6666.77
DEYAAR728,987,1092.96
AIRARABIA363,272,1921.97
ARKAN281,940,9383.13
GULFNAV183,845,4141.74

Dubai Financial Market

The DFM index closed at 5,582 a rise of 1.69% from the previous close. 794 million shares traded worth 2.9 billion dirhams. Eighteen shares advanced and four declined.
The top traded share was DEYAAR rising 2.42% to 2.96 dirhams on turnover of 248 million shares. The DFM continued its climb rising 7.29% to 6.77 dirhams on turnover of 163 million shares.

Other shares to rise included: AIRARABIA 1.97 (3.14%), Amlak Finance (AMLAK) 4.62 (1.76%), Dubai Investments (DIC) 5.65 (2.35%), Emaar Properties (EMAAR) 13.60 (1.11%) and GULFNAV 1.74 (1.75%).

The following insurance shares fell all on modest volumes: ASCANA 3.80 (5.00%), Arab Insurance Group (ARIG) 3.47 (3.07%) and DIN 38 35 (4.95%).

Abu Dhabi Securities Market

The ADSM index closed at 4,183 a fall of 1.49% from the previous close. 244 million shares traded worth 863 million dirhams. Six shares advanced and thirty one declined.
ARKAN was the top traded share closing unchanged at 3.13 dirhams on turnover of 90 million shares.
Oasis Leasing (OILC) continued its slide closing 6.27% down at 2.39 dirhams on turnover of 59 million shares.

Other shares to fall included: Aldar Properties (ALDAR) 10.15 (2.40%), Dana Gas (DANA) 2.18 (3.96%), RAK Properties (RAKPROP) 2.11 (4.52%) and Etisalat (ETISALAT) 20.80 (1.19%).

Shares to rise included: NBS 3.32 (0.61%), RAK Ceramics (RAKCEC) 5.30 (0.19%), TKFL 5.47 (9.18%) and BILDCO (BILDCO) 3.78 (0.80%) all on modest volume traded.

Posted by sharewadi at 15:19

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