DFM & ADSM reports

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

Sunday, October 21, 2007

UAE markets 21 Oct 2007

UAE market news & discussions for 21 October 2007

An excellent days trading on UAE markets today. The DFM index rose 3.24% to 4,898 and the ADSM index rose 4.48% to 4,210. Both these rises were on strong volumes.

On the DFM three shares AIRARABIA, AMLAK and DEYAAR all traded more than 100 million shares each, all rising on the day.

On the ADSM, ABAR, DANA and OILC topped trading all rising by 3% or better.

In corporate news EMAAR announced a 60b AED JV with AL BAWADI. Dubai bank announced 2007 9MQ3 results 125 million AED profit an increase of 510% from 2006.
DP World announces a float to open in November.

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

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best stock rises
symbol price change
ENBD 15.55 +2.00 +14.8%
TABREED 3.39 +0.35 +11.5%
NBQ 5.88 +0.53 +9.9%
NBAD 24.30 +1.85 +8.2%
ETISALAT 21.95 +1.65 +8.1%
worst stock falls
symbol price change
NBF 3.54 -0.38 -9.7%
ADNH 7.61 -0.37 -4.6%
NCTH 5.30 -0.25 -4.5%
QTEL 219.60 -8.10 -3.6%
UAB 6.94 -0.25 -3.5%
top volume
symbol value (AED) price
DEYAAR499,560,1022.02
OILC464,756,5902.85
AMLAK444,371,9334.02
EMAAR413,154,15111.95
DIC379,493,8345.02

Dubai Financial Market

The DFM index finished at 4,898 a rise of 3.24% from the previous close. 1 billion shares traded worth 3.5 billion dirhams. Twenty five shares advanced and two declined.
The top traded share was DEYAAR rising 1.50% to 2.02 on 246 million shares traded.

Other shares to rise included: AIRARABIA 1.69 (2.42%), Amlak Finance (AMLAK) 4.02 (8.06%), ARAMEX 3.09 (6.92%), DFM 4.26 (1.42%), GULFNAV 1.40 (1.44%), UNION 4.03 (5.22%), Emaar Properties (EMAAR) 11.95 (3.01%), Tabreed (TABREED) 3.39 (11.51%) and Emirates NBD (ENBD) 15.55 (14.76%).

Two shares fell on modest volume GFH 9.10 (0.76%) and OIC 8.95 (0.33%).

Abu Dhabi Securities Market

The ADSM index finished at 4,210 a rise of 4.48% from the previous close. 612 million shares traded worth 2.3 billion dirhams. Twenty eight shares advanced and eleven declined.
The top traded share was Oasis Leasing (OILC) rising 6.34% to 2.85 dirhams on 163 million shares traded.

Other shares to rise included: ABAR 4.45 (4.22%), Dana Gas (DANA) 1.90 (3.26%), Abu Dhabi National Energy (TAQA) 3.48 (6.42%).

Shares to fall included: Aldar Properties (ALDAR) 9.21 (0.54%), RAK Properties (RAKPROP) 1.90 (0.52%) and RAK Cement (RAKCC) 2.22 (2.20%)

Posted by sharewadi at 16:12

Thursday, October 18, 2007

UAE markets 18 Oct 2007

UAE market news & discussions for 18 October 2007

The week finished on a high note with gains of more than 2% on solid trading for both markets today, surprising pundits who expected some fallout from the market heavyweight, Emaar, results coming in below expectations yesterday. Perhaps Emaar is losing its dominant position on the trading floor. The oil price rising to almost $90 this week has probably helped market sentiment locally, along with buy ratings for several stocks from HSBC and NBAD.

The newly listed Emirates NBD continued to rocket ahead with another limit up trading day. Tabreed and Dubai Islamic Bank shone, and in Abu Dhabi, Etisalat shares had a big rise, perhaps due to news they were interested in a stake in Oman Telecom.

Third quarter results updates and summaries today

  • ADCB - good growth in core profit shaking off the reliance on IPO income, shares look reasonably priced if growth continues.
  • Arkan Building Materials - Q3 profit down due to big increase in costs, M9 profit up helped by big increase in Finance Income.
  • Commercial Bank of Dubai - impressive profit growth, especially from core revenue, making their shares look cheap compared to the rest of the bank sector.
  • Emirates Islamic Bank - net profit almost doubled.
  • Invest Bank - a drop in profit avoided by selling a plot of land.
  • RAK Cement - profits dropping fast as increasing energy costs continue to hurt.
  • RAK Properties - profits down but sales are up, however no revenue from sales is booked yet. Shares may be good value but difficult to asses due to profit figures dependent on extraordinary items.
  • RAK White Cement - results released today, not yet reviewed.
  • Tamweel should release results on Sunday next week.

Other news included a joint venture announcement between Taqa and Kuwait Energy. Taqa North's bond issue received ratings from Moody's and S&P. IPO possibilities for Al Qudra Holding (expected early 2008), Depa, and Abraaj Capital. Amlak bought phase I of Meydan Business Park for AED 2.6 billion. The Tamweel CEO forecast continuing housing shortages in Dubai.

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

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best stock rises
symbol price change
ENBD 13.55 +1.75 +14.8%
NCTH 5.55 +0.50 +9.9%
RAPCO 3.71 +0.33 +9.8%
TABREED 3.04 +0.27 +9.7%
DIB 10.70 +0.71 +7.1%
worst stock falls
symbol price change
NBF 3.92 -0.43 -9.9%
FBICO 1.81 -0.14 -7.2%
OEIHC 21.65 -1.20 -5.3%
OIC 8.98 -0.47 -5%
RAKCEC 5.90 -0.30 -4.8%
top volume
symbol value (AED) price
DFM496,400,6574.20
EMAAR447,019,74311.60
OILC296,155,4322.68
SOROUH291,953,4456.05
ALDAR268,956,8289.26

Dubai Financial Market

The DFMGI shrugged off the disappointing results from Emaar and gained a solid 2.3% to close at 4744 points from a meaty 2.8 billion dhs of turnover. Total gain for the week an impressive 5.3%.

Emirates NBD (ENBD) took top honors yet again with limit up trading of 15% to close at 13.55. Some other sterling gains for Tabreed (TABREED) up 10% to 3.04, Dubai Islamic Bank (DIB) up 7.1% to 10.70, Aramex (ARMX) up 5.9% to 2.89, and MASQ making a rare appearance on the charts with a 5% rise to 210.00.

AMAN was up 4.7% to 27.00, Du Telecom (DU) saw a 4.4% rise to 5.04, and DFM shares saw the most activity with a 2.7% rise to 4.20 and almost half a billion dhs of traded value.

Emaar Properties (EMAAR) was the only actively traded stock to show a loss, down by 1.3% to 11.60. You could almost say it was a good day for them considering how much of a knock they took 3 months ago when Q2 earnings came in below expectations.

Abu Dhabi Securities Market

The ADSM stormed up another 2.5% to crack the 4000 point level, closing at 4031 from a huge 2 billion dhs of turnover. A good week in Abu Dhabi with a total increase in the index of just under 7%. Etisalat (ETISALAT) stood out with a big jump of 6.5% to 21.00 and a heavier than usual 104m dhs worth of deals.

Oasis Leasing (OILC) and Sorouh Real Estate (SOROUH) topped the traded value table, both with just under 300m dhs worth of trades and rises of 2.7% to 2.71, and 3.8% to 6.04 respectively. Other solid increases on more than 1m dhs of turnover for Sudan Telecom (SUDATEL) up 4.1%, Abu Dhabi Islamic Bank (ADIB) up 3.6%, First Gulf Bank (FGB) up 3.4%, Abu Dhabi National Energy (TAQA) up 2.8%, National Bank of Abu Dhabi (NBAD) up 2.5% and FCI up 2.1%.

Despite the good day overall, there were still 18 stocks that fell with the most notable losses for RAK Properties (RAKPROP) down 2.6% to 1.89, RAK Cement (RAKCC) down 2.2% and ARKAN down 1%.

Posted by sharewadi at 17:35

Wednesday, October 17, 2007

UAE markets 17 Oct 2007

UAE market news & discussions for 17 October 2007

Despite a strong start the DFM index finished the day slightly down at 4,638. In contrast the ADSM index continued its run rising 1.80% to 3,938.

After the market closed EMAAR released its results:
2007 Q3 revenue and profits increased by 32% to AED 4.4b and decreased by 3% to AED 1.56b compared to 2006 Q3.
2007 9MQ3 revenue and profits increased by 48% to AED 12.5b and 4% to AED 4.83b compared to 20069MQ3.
Overall, higher revenue was offset by higher costs up 107% in 2007 from 2006. However, the rate of growth for costs has slowed to 5% from Q2 2007 to Q3 2007. So choose your headline, either EMAAR profits flat or cost growth rate slows.
EMAAR shares finished trading at 11.75 down 1.26% from yesterdays close.

ARKAN was the top traded share on the ADSM rising 3.57% to 2.03 dirhams on 184 million shares traded.
RAKPROP announced a net profit of AED 302 for 2007 9MQ3 down from AED 376 2006 9MQ3

Dubai Financial Market and Abu Dhabi Securities Market index for 17 October 2007

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best stock rises
symbol price change
ENBD 11.80 +1.15 +10.8%
ADSB 3.82 +0.26 +7.3%
NBAD 21.90 +1.40 +6.8%
ASMAK 5.93 +0.37 +6.7%
DFM 4.09 +0.24 +6.2%
worst stock falls
symbol price change
MAZAYA 9.00 -0.99 -9.9%
NMDC 5.73 -0.47 -7.6%
NBQ 5.35 -0.37 -6.5%
UNION 2.17 -0.09 -4%
CBI 2.71 -0.10 -3.6%
top volume
symbol value (AED) price
DFM856,268,1684.09
ALDAR439,990,4609.27
ARKAN374,981,1502.03
EMAAR370,582,25511.75
OILC358,685,8662.61

Dubai Financial Market

The DFM index closed at 4,638 a slight decrease of 0.04% from the previous close. 943 million shares traded worth 3 billion dirhams. Thirteen shares advanced and twelve declined.
The top traded share was DFM rising 6.23% to 4.09 dirhams on 207 million shares traded.

Other shares to rise included: Amlak Finance (AMLAK) 3.63 (1.11%), Islamic Arab Insurance (IAIC) 3.45 (1.17%) and UNION 3.80 (2.15%).

Shares to decline included: AIRARABIA 1.64 (1.20%), DEYAAR 1.96 (1.01%), Dubai Investments (DIC) 4.71 (0.42%), Emaar Properties (EMAAR) 11.75 (1.26%) and GULFNAV 1.37 (0.72%).

Abu Dhabi Securities Market

The ADSM index closed at 3,983 an increase of 1.80% from the previous close. 757 miliion shares traded worth 2.5 billion dirhams. Twenty nine shares advanced and thirteen declined.
The top traded share was ARKAN rising 3.57% to 2.03 dirhams on 184 million shares traded.

Other shares to rise included: ABAR 4.19 (5.01%), Aldar Properties (ALDAR) 9.27 (0.76%), Dana Gas (DANA) 1.84 (3.95%), Oasis Leasing (OILC) 2.61 (5.28%), RAK Properties (RAKPROP) 1.96 (1.55%) and Abu Dhabi National Energy (TAQA) 3.18 (2.58%).

Shares to decline included: ADNH 7.60 (1.68%), RAK Cement (RAKCC) 2.32 (2.60%) and BILDCO (BILDCO) 3.87 (0.26%)

Posted by sharewadi at 16:23

Tuesday, October 16, 2007

UAE markets 16 Oct 2007

UAE market news & discussions for 16 October 2007

A good follow up days trading from yesterdays gains on UAE markets today. The DFM index fell slightly by 0.07% while the ADSM index extended yesterdays gains and rose by 1.51%. The value of shares traded on both markets was over 2 billion dirhams.

On the DFM the top traded share was DEYAAR falling 2.46% to 1.98 AED, on 252 million shares traded. SHUAA rose 8.45% to 5.90 AED on 23 million shares traded.

On the ADSM the top traded share was RAKPROP rising 4.32% to 1.93 AED on 181 million shares traded. SOROUH and OILC both rose by over 6% on strong volumes.

CBD released 2007 3Q profits rising 47% to 649 million AED compared to 2006 3Q.
In other business news SHUAA announced an increase to its forieng ownership quota to 49%, the IMF predicted further falls for the $US and the price of oil rose to a fresh high of $86.

Dubai Financial Market and Abu Dhabi Securities Market index for 16 October 2007

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best stock rises
symbol price change
WARE 22.55 +2.90 +14.8%
ENBD 10.65 +1.35 +14.5%
NBQ 5.72 +0.52 +10%
FGB 16.85 +1.60 +10.5%
SHUAA 5.90 +0.46 +8.5%
worst stock falls
symbol price change
ASMAK 5.56 -0.38 -6.4%
QCEM 3.17 -0.12 -3.6%
UCC 4.77 -0.13 -2.7%
DEYAAR 1.98 -0.05 -2.5%
DU 4.80 -0.11 -2.2%
top volume
symbol value (AED) price
DEYAAR502,255,4981.98
ALDAR492,911,0809.20
EMAAR397,786,02811.90
OILC365,208,4882.46
RAKPROP351,389,6851.93

Dubai Financial Market

The DFM index closed at 4,640 a slight decline of 0.07% from the previous close. 815 million shares traded worth 2.2 billion dirhams. Twelve shares advanced and eleven declined.
The top traded share was DEYAAR closing at 1.98 dirhams a fall of 2.46% with 252 million shares traded.

Other shares to fall included: GULFNAV 1.38 (1.42%), DFM 3.85 (1.78%), Amlak Finance Company (AMLAK) 3.59 (2.17%) and AIRARABIA 1.66 (1.19%).

Shares to rise included: ARAMEX 2.70 (3.44%), Dubai Investments PJSC (DIC) 4.73 (0.42%), Emaar Properties PJSC (EMAAR) 11.90 (0.42%), Shuaa Capital PJSC (SHUAA) 5.90 (8.45%) and UNION 3.72 (0.26%).

Abu Dhabi Securities Market

The ADSM index closed at 3,864 an increase of 1.51% from the previous close. 779 million shares traded worth 2.4 billion dirhams. Thirty one shares advanced and eight declined.
The top traded share was Ras Al Khaimah Properties PJSC (RAKPROP) closing at 1.93 dirhams a rise of 4.32% with 181 million shares traded.

Other shares to rise included: ABAR 3.99 (0.25%), Aldar Properties PJSC (ALDAR) 9.20 (0.77%), ARKAN 1.96 (0.51%), Dana Gas PJSC (DANA) 1.77 (1.72%), Oasis International Leasing Company PJSC (OILC) 2.46 (6.96%), Sorouh Real Estate (SOROUH) 5.52 (6.15%) and Abu Dhabi National Energy Company (TAQA) 3.10 (1.97%).

Shares to fall included: QCEM 3.17 (3.65%), ADAVIATION 2.34 (0.85%) and Abu Dhabi National Company for Building Materials (BILDCO) 3.88 (0.26%) all on modest volumes.

Posted by sharewadi at 15:48

Monday, October 15, 2007

UAE markets 15 Oct 2007

UAE market news & discussions for 15 October 2007

A great start to the week on the UAE markets after the Eid break with solid gains for most stocks on very robust trading volumes. Six out of the actively traded stocks on the DFM closed up by more than 5% with Air Arabia the best of them, rising by 9%. Aramex stood out with a big fall at the very end of the session. Oasis Leasing was the stock of the day at ADSM with almost limit up trading during the day and close to the highest traded value.

Emaar said they would release third quarter results after the close of trading on Wednesday. Board meeting dates to discuss Q3 results were released for Bank of Sharjah, Palestine Telecoms, RAK White Cement.

Emirates NBD (ENBD) will start trading on the DFM tomorrow.

Results were released at the end of last week for United Arab Bank (decent profit increase but shares still look expensive), Finance House (most profit gains appear to be from investments), and National Bank of Umm Al Quwain (good gains for the quarter with shares probably fairly priced). No further Q3 results seen today so far.

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

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best stock rises
symbol price change
WARE 19.65 +2.55 +14.9%
NCTH 4.97 +0.45 +10%
AIRARABIA 1.68 +0.14 +9.1%
RAKCEC 6.01 +0.50 +9.1%
AMLAK 3.67 +0.27 +7.9%
worst stock falls
symbol price change
OEIHC 21.60 -1.50 -6.5%
ARMX 2.61 -0.16 -5.8%
ADSB 3.56 -0.20 -5.3%
BOS 3.01 -0.14 -4.4%
CBI 2.81 -0.03 -1.1%
top volume
symbol value (AED) price
DEYAAR968,435,5472.03
EMAAR386,796,37311.85
AIRARABIA372,021,6721.68
DFM320,452,9273.92
GULFNAV282,264,3491.40

Dubai Financial Market

The DFMGI had one of its best days we've seen for a long time, closing up by a superb 3.1% to 4644 from a mammoth AED 3.1 billion of turnover. AIRARABIA topped the list of rises (ignoring the single trade for WARE) with a massive 9.1% jump to 1.68 from AED 372m dhs of traded value. Other big gains for Amlak Finance Company (AMLAK) up 7.9% to 3.67, DFM up 6.2% to 3.92, Arabtec Holding PJSC (ARTC) up 6.1% to 6.99, DEYAAR up 5.7% to 2.03 and Union Properties PJSC (UPP) up 5.7% to 3.71. Deyaar also dominated trading with almost 1 billion dhs worth of turnover, while Emaar Properties PJSC (EMAAR) was in second spot with a much lower AED 387m dhs worth and a decent 3% rise to 11.85.

Almost all other stocks rose between 0% and 5% except for the 3 that fell - ALMADINA, Arab Insurance Group (ARIG) and Aramex PJSC (ARMX) which plummeted nearly 6% to 2.61 in only the last minute of trading for the day, unusual trading activity which leads one to wonder if some bad news hit the market.

Abu Dhabi Securities Market

The ADSM index rose 0.9% from AED 1.48 billion of turnover to close at 3807 points with only 6 infrequently traded stocks falling today, and 35 stocks rising.

Oasis International Leasing Company PJSC (OILC) closed a solid 6.5% up at 2.36 from 278m dhs of traded value. ARKAN also had a strong day topping the traded value table with 282m dhs worth of deals and a 2.6% rise to 1.96. Other good rises for Sorouh Real Estate (SOROUH) up 3.4% to 5.34, Ras Al Khaimah Properties PJSC (RAKPROP) up 2.8%, AGTHIA up 2.6% and Aabar Petroleum Investments Company PJSC (AABAR) up 2.1%. Emirates Telecommunications Company (ETISALAT) rose just 0.8% to close at an even 19 dhs per share.

Out of the 6 stocks that fell in price today, none traded on more than 1m dhs of turnover.

Posted by sharewadi at 14:25

Wednesday, October 10, 2007

UAE markets 10 Oct 2007

UAE market news & discussions for 10 October 2007

Another strong day on UAE markets with both indicies finishing in positive territory on strong turnover.
The DFM closed above the 4500 level up 16.1% from January 2007. Analysts are tipping strong corporate profits and further gains in 2008.
GULFNAV topped trading rising 3.05% to 1.35 dirhams on turnover of 239 million shares traded.

On the ADSM, ARKAN topped trading rising 4.40% to 1.90 dirhams on turnover of 214 million shares.
OILC rose 8.00% to 2.16 dirhams with 104 million shares traded.
NBQ released 2007 M9 profits +246% to 232 million dirhams from 2006 M9.

In other business news Shanghai was sold by Nakeel fo 28 million dollars to a Chinese investor. So far 40% of the 300 Islands comprising the world have been sold.

The IMF confirmed growth in the UAE would remain strong in 2007 but moderate in 2008. Inflation was a concern but the dollar/dirham peg had served its purpose well.

Dubai Financial Market and Abu Dhabi Securities Market index for 10 October 2007

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best stock rises
symbol price change
OEIHC 23.10 +2.10 +10%
NCTH 4.52 +0.41 +10%
OILC 2.16 +0.16 +8%
ASMAK 5.94 +0.39 +7%
ADSB 3.76 +0.21 +5.9%
worst stock falls
symbol price change
IFA 9.50 -1.50 -13.6%
RAKCEC 5.51 -0.46 -7.7%
QCEM 3.05 -0.23 -7%
GLOBAL 11.00 -0.75 -6.4%
FOODCO 4.00 -0.09 -2.2%
top volume
symbol value (AED) price
ARKAN408,565,2961.90
EMAAR360,382,83411.50
GULFNAV326,645,6111.35
ALDAR321,547,6579.08
DFM281,399,3913.69

Dubai Financial Market

the DFM index closed at 4,504 today an increase of 0.59% from the previous close. 671 million shares traded worth 1.8 billion dirhams. Sixteen shares advanced and six declined.
GULFNAV topped trading rising 3.05% to 1.35 dirhams on turnover of 239 million shares traded.

Other shares to rise included: Amlak Finance Company (AMLAK) 3.40 (0.89%), DEYAAR 1.92 (0.52%), DFM 3.69 (0.54%), Dubai Investments PJSC (DIC) 4.65 (0.86%) and Emaar Properties PJSC (EMAAR) 11.50 (0.43%).
AIRARABIA saw turnover of 96 million shares but finished unchanged on 1.54 dirhams.

Shares to fall included: Emirates Integrated Telecommunications Company (DU) 4.81 (0.82%) and Tamweel PJSC (TAMWEEL) 4.57 (0.43%) on modst volumes.

Abu Dhabi Securities Market

The ADSM index closed at 3,772 today an increase of 1.0% from the previous close. 578 million shares traded worth 1.5 billion dirhams. Twenty nine shares advanced and eleven declined.
ARKAN topped trading rising 4.40% to 1.90 dirhams on turnover of 214 million shares traded.

Other shares to rise included: Dana Gas PJSC (DANA) 1.71 (1.79%), Oasis International Leasing Company PJSC (OILC) 2.16 (8.0%), Ras Al Khaimah Properties PJSC (RAKPROP) 1.80 (2.86%) and Abu Dhabi National Energy Company (TAQA) 3.01 (3.08%).

Shares to fall included: Aldar Properties PJSC (ALDAR) 9.08 (0.77%), SIB 3.01 (0.66%) and Union National Bank (UNB) 8.02 (0.12%).

Posted by sharewadi at 16:57

Tuesday, October 09, 2007

UAE markets 09 Oct 2007

UAE market news & discussions for 09 October 2007

A bullish day on UAE markets with the DFM and ADSM indicies rising by 1% on strong volumes.
DFM and AIRARABIA topped trading on the DFM with both shares rising strongly.
ARKAN and OILC topped trading on the ADSM both rising more than 5% on the day.

In other market news the DIB share manipulation case from August 2005 ended in a whimper with all the accused acquitted on appeal. Commentators blamed the result on inadequate laws that do take into account transactions based on an electronic trading platform. In some ways the result should not be a surprise as share manipulation cases on electronic trading platforms are extremely difficult to prove even in more mature markets. Most are settled by regulators out of court.

Borse Dubai and QATAR continue to compete to pay more for OMX.

Dubai Financial Market and Abu Dhabi Securities Market index for 09 October 2007

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best stock rises
symbol price change
ABNIC 7.57 +0.68 +9.9%
NMDC 5.83 +0.43 +8%
INVESTB 3.68 +0.25 +7.3%
ADSB 3.55 +0.24 +7.3%
ADNH 7.10 +0.48 +7.3%
worst stock falls
symbol price change
WARE 17.10 -2.90 -14.5%
AEIBANK 1350.00 -60.00 -4.3%
NCC 9.55 -0.25 -2.6%
ARIG 3.55 -0.05 -1.4%
CBD 8.45 -0.10 -1.2%
top volume
symbol value (AED) price
OILC414,553,1922.00
EMAAR312,202,24111.45
ARKAN311,851,9981.82
DFM311,716,7823.67
ALDAR255,597,2269.15

Dubai Financial Market

The DFM index finished at 4,477 today a rise of 0.99% from the previous close. 363 million shares traded worth 1.2 billion dirhams. Sixteen shares advanced and seven declined.
AIRARABIA 1.54 and DFM 3.67 topped trading finishing up 1.31% and 3.67% respectively with 85 million shares trading for both shares.

Other shares to rise included: Emaar Properties PJSC (EMAAR) 11.45 (2.23%) and GULFNAV 1.31 (0.76%).
DEYAAR was also heavily traded finishing steady on 1.91 dirhams with 74 million shares traded.

Shares to fall included: ARABTEC 6.52 (0.45%) and Commercial Bank of Dubai (CBD) 8.45 (1.16%) on small volumes.

Abu Dhabi Securities Market

The ADSM index finished at 3,734 today a rise of 1.10% from the previous close. 609 million shares traded worth 1.5 billion dirhams. Thirty six shares advanced and four declined.
The top traded share was Oasis International Leasing Company PJSC (OILC) rising 5.26% to 2.00 dirhams on 207 million shares traded.
ARKAN was also heavily traded rising 5.20% to 1.82 dirhams on 171 million shares traded.

Other shares to rise included: Aldar Properties PJSC (ALDAR) 9.10 (1.55%), Dana Gas PJSC (DANA) 1.68 (1.82%) and Ras Al Khaimah Properties PJSC (RAKPROP) 1.75 (2.94%).

Shares to fall included: Bank Of Sharjah (BOS) 3.15 (0.32%), Commercial Bank International (CBI) 2.78 (0.71%) and Emirates Telecommunications Company (ETISALAT) 18.75 (0.27%) all on modest volume.

Posted by sharewadi at 16:26

Monday, October 08, 2007

UAE markets 08 Oct 2007

UAE market news & discussions for 08 October 2007

It probably wasn't surprising that after such a good day yesterday, both the DFM and ADSM pulled back today. Dubai Islamic Insurance (AMAN) and Umm Al Quwain Cement (QCEM) stood out with close to 10% increases on active trading.

EMAAR MGF in India were reported to be planning to spin off many of their developments as Real Estate Investment Trusts (REITs). Dana Gas released the terms of their Convertible Sukuk. Amlak's denial yesterday was to do with a report that they may be merging with Dubai Bank.

Dubai Financial Market and Abu Dhabi Securities Market index for 08 October 2007

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best stock rises
symbol price change
UAB 7.19 +0.63 +9.6%
AMAN 26.25 +2.25 +9.4%
FBICO 1.95 +0.16 +8.9%
QCEM 3.13 +0.24 +8.3%
TKFL 4.27 +0.17 +4.1%
worst stock falls
symbol price change
OEIHC 21.00 -2.00 -8.7%
DHAFRA 4.62 -0.38 -7.6%
ADSB 3.31 -0.12 -3.5%
AKIC 1.60 -0.05 -3%
CBD 8.55 -0.20 -2.3%
top volume
symbol value (AED) price
DEYAAR364,950,2381.91
DFM257,619,4123.54
ALDAR234,710,8549.01
AIRARABIA209,824,6791.52
EMAAR204,702,63811.20

Dubai Financial Market

DFM volumes were down substantially from yesterday, to a still solid 1.5 billion dhs and a 0.9% fall in the index to 4434 with only 2 stock showing gains on active trading. AMAN was up a splendid 9.4% to 26.25 and ALMADINA up just 0.5% to 10.45.

DEYAAR had the highest traded value today with a 1.5% fall to 1.91 from AED 365m worth. DFM fell 0.8% to 3.54 and AIRARABIA lost 1.9% to 1.52. Emaar Properties PJSC (EMAAR) pulled back 0.9% to 11.20 on moderate trading. GULFNAV suffered the worst fall on active trading, down 2.3% to 1.30.

Abu Dhabi Securities Market

The ADSM index had a marginal fall of 0.06% to 3694 on turnover of 627m dhs, with Aldar Properties PJSC (ALDAR) dominating trading on a fall of 0.3% to 9.03.

QCEM had a good day with limit up trading at 3.17, AED 10m dhs worth of deals, and no sellers in the queue. Other good rises for Union National Bank (UNB) up 2.7% to 7.50, Abu Dhabi Islamic Bank (ADIB) up 2.5% to 55.30, and Oasis International Leasing Company PJSC (OILC) up 1.6% to 1.89.

Out of stocks trading more than 1m dhs worth today, Abu Dhabi Commercial Bank (ADCB) saw the worst fall, down by 1.75% to 6.76. ADAVIATION and ARKAN were down by 1.7%, AGTHIA fell 1.6%, National Bank of Abu Dhabi (NBAD) lost 1.55% on busy trading, and Sudan Telecom Company Ltd (SUDATEL) fell 1.5%. Emirates Telecommunications Company (ETISALAT) closed unchanged at 18.80.

Posted by sharewadi at 14:58

Sunday, October 07, 2007

UAE markets 07 Oct 2007

UAE market news & discussions for 07 October 2007

Both markets started the week on a good note with the DFM especially busy with their own shares and Air Arabia both up more than 6% on heavy trading, while Al Dar Properties was the one to watch in Abu Dhabi today.

It was the last day of trading today for Emirates Bank and National Bank of Dubai shares. Shares will be delisted on 15 October 2007 and listing of shares in the merged Emirates NBD bank will start on 16 October 2007.

There were statements on the DFM site that Amlak had denied a press release (without further details) and an Al Sagr Insurance subsidiary had been approved to launch an IPO in Saudi.

Abyaar Real Estate (based in Kuwait) said they may list on DFM next year. Tabreed announced they'd received three new contracts but didn't disclose a value. Dana Gas said their US$875 Convertible Sukuk had closed.

Goldman Sachs released a report giving a BUY rating to Arabtec shares and NEUTRAL ratings to Abu Dhabi Building Materials Company (listed on ADSM) and Aerated Concrete Industries (listed on DFM).

Dubai Financial Market and Abu Dhabi Securities Market index for 07 October 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
QCEM 2.89 +0.19 +7%
DFM 3.57 +0.22 +6.6%
AIRARABIA 1.55 +0.09 +6.2%
FCI 4.65 +0.25 +5.7%
UNION 2.10 +0.11 +5.5%
worst stock falls
symbol price change
ABNIC 6.89 -0.76 -9.9%
UAB 6.56 -0.63 -8.8%
FH 6.38 -0.40 -5.9%
NCTH 4.11 -0.19 -4.4%
QTEL 213.40 -8.60 -3.9%
top volume
symbol value (AED) price
DFM639,121,6253.57
DEYAAR490,463,2921.94
AIRARABIA434,080,8581.55
EMAAR425,423,23311.30
ALDAR377,857,1559.04

Dubai Financial Market

The Dubai stock market turnover of AED 2.7 bn today was well in excess of anything we've seen recently, hopefully we're seeing the start of a bit of a run. The index closed at 4473, up 2.2% and with only one stock falling in price.

DFM shares were up 6.6% to 3.57 with turnover a resounding 639m dhs. AIRARABIA had a solid 6.2% rise to 1.55 and saw 434m dhs of trading. Emaar Properties PJSC (EMAAR), up 2.7% to 11.30, and DEYAAR, up 1.6% to 1.94, were also heavily traded.

Other rises of note for Aramex PJSC (ARMX) up 4.5%, Islamic Arab Insurance Company PSC (IAIC) up 2.7%, Union Properties PJSC (UPP) up 2.7%, and National General Cooling Company PJSC (TABREED) up 2.6%. AMAN was the only stock to fall, down just 0.2% to 24.00.

Abu Dhabi Securities Market

ADSM was up 1.1% to 3696 and turnover a healthy 837m dhs. Aldar Properties PJSC (ALDAR) yet again dominating trading with 378m dhs of turnover and a 4% rise to 9.09. ARKAN was also busy and rose 2.3% to 1.76.

Other good rises on active turnover for FCI up 5.7% to 4.80, QCEM up 4.3% to 2.96, Union National Bank (UNB) up 3.9% to 7.60, UNION up 3.7%, First Gulf Bank (FGB) up 2.3%, Bank Of Sharjah (BOS) up 2.3%, ADAVIATION up 2.2%, and Sorouh Real Estate (SOROUH) up 1.8%. Emirates Telecommunications Company (ETISALAT) rose 1.4% to 18.95.

National Bank of Abu Dhabi (NBAD) was the only stock with a fall on turnover of more than 1m dhs, losing just 0.26% to close at 19.25. Another 9 stocks fell on limited trading.

Posted by sharewadi at 16:51

Thursday, October 04, 2007

UAE markets 04 Oct 2007

UAE market news & discussions for 04 October 2007

The Dubai stock market saw a steady gain today while Abu Dhabi fell slightly but all in all, it was a solid week for the UAE markets with the DFMGI up about 3.5% and the ADSM index up almost 4%.

Aabar Petroleum took on a greater stake in a Philippines exploration venture. Dubai World was reported to be considering an IPO ... again. EFG-Hermes released a preview of 2007 Q3 results, forecasting good year on year growth for several stocks including ADIB, DIB, ARMX, RAKCEC, UPP.

ESCA suspended more brokers from 07 October for varying periods but specific reasons were not disclosed.

Dubai Financial Market and Abu Dhabi Securities Market index for 04 October 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
MAZAYA 9.99 +0.99 +11%
OEIHC 20.95 +1.90 +10%
ASMAK 5.54 +0.38 +7.4%
FH 6.78 +0.38 +5.9%
EIC 8.45 +0.45 +5.6%
worst stock falls
symbol price change
IIG 5.30 -0.80 -13.1%
IFA 11.00 -1.50 -12%
NBF 4.35 -0.30 -6.5%
AABAR 3.75 -0.11 -2.8%
RAKCEC 5.70 -0.10 -1.7%
top volume
symbol value (AED) price
EMAAR458,184,95911.00
ALDAR452,234,4228.69
AIRARABIA398,624,1901.46
DEYAAR227,218,3221.91
DFM128,647,9753.35

Dubai Financial Market

It was Dubai's turn in the limelight today with a solid 1.7% increase to 4378 and a healthy 1.8 bn dhs of trading. Emaar Properties PJSC (EMAAR) had the top traded value spot with AED 458m dhs of turnover and an encouraging 2.3% rise. It was one of the "buy" recommendations in a Goldman Sachs report this week.

AIRARABIA was the real star today though, a splendid 5% rise to 1.46 and almost AED 400m turnover. Solid gains also for Union Properties PJSC (UPP) up 3.4%, Tamweel PJSC (TAMWEEL) up 3.2%, and Amlak Finance Company (AMLAK) up 2.8%. Aramex PJSC (ARMX), DFM, Arabtec Holding PJSC (ARTC), DEYAAR, and Dubai Investments PJSC (DIC) all rose between 1.5% and 2%, and Dubai Islamic Bank (DIB) saw a 1.3% increase.

Only three stocks fell, all on limited turnover.

Abu Dhabi Securities Market

The Abu Dhabi index fell slightly by 0.08% to 3658 points with turnover a moderate AED 683m. 17 stocks rose, 23 fell and 4 were unchanged. About two-thirds of the turnover was in Aldar Properties PJSC (ALDAR) which closed 0.6% down at 8.75. Sorouh Real Estate (SOROUH) also fell by 0.6% to 4.89 and was in a distant second place with AED 59m worth of trades.

The top 5 rises were all on thin trading with total turnover for that group not even reaching 0.5m dhs. ADNH stood out with a 4.6% rise to 6.45 on reasonable volumes, NBQ also busier than usual and a 1.8% rise to 5.10. Ras Al Khaimah Properties PJSC (RAKPROP), NBS, and Emirates Telecommunications Company (ETISALAT) had small gains of less than 1% each on turnover of more than AED 1m dhs.

Aabar Petroleum Investments Company PJSC (AABAR) had a dismal day after good gains earlier in the week, falling by 2.9% to 3.74 from 32m dhs worth of deals. AGTHIA and Abu Dhabi National Company for Building Materials (BILDCO) each fell by 1.6%, Bank Of Sharjah (BOS) lost 1.3% and ARKAN was down by 1.2%. The remaining actively traded stocks were down by less than 1% each.

Posted by sharewadi at 15:42

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