Special Features
UAE Market News
Another strong day today on UAE markets with both indicies up by more than 1.5 per cent.The DFM index closed at 6,190, with 4.3 billion dirhams worth of shares changing hands. AIRARABIA topped trading volume to close steady on 2.07 dirhams and EMAAR topped trading by value to close 2.26% higher at 15.70 dirhams.
The ADSM index closed at 4,744 with 2.2 billion dirhams worth of shares changing hands. DANA topped trading by volume to close 3.31% higher at 2.50 dirhams.
In other news: Dubai Holdings launched Noor Islamic Bank (NIB). The bank will have an initial capitalisation of DHS 3.76 billion. Dubai Holdings already own a majority holding in Dubai Bank.
ARABTEC (ARTC) has acquired 55% of Gulf Steel Industries (GSI) a structural steel fabrication company located in Sharjah’s Hamriyah Free Zone.
Swedish Financial Supervisory Authority has approved Borse Dubai’s offer fro OMX. Once the offer is competed NASDAQ will buy all of Borse Dubai’s shares in OMX for cash and NASDAQ shares.
The UAE ministry of Economy expects the UAE to surpass expectations and grow at 16.48% in nominal terms for 2007 Dubai Financial Market The DFM index closed at 6,190 today a gain of 1.67% from the previous close. 843 million shares were traded worth 4.3 billion dirhams. Nineteen stocks rose and six fell. The top traded share by volume was AIRARABIA with 153 million shares traded but closing steady at 2.07 dirhams. By value over 1 billion dirhams worth of Emaar Properties (EMAAR) shares traded closing 2.28% higher at 15.70 dirhams.
Other shares to rise included: Amlak Finance (AMLAK) 5.70 (3.26%), Arabtec (ARTC) 9.80 (2.51%), DEYAAR 2.95 (1.02%), DFM 6.66 (4.71%), Dubai Investments (DIC) 5.89 (2.79%), Islamic Arab Insurance (IAIC) 4.05 (4.92%), GULFNAV 1.73 (1.76%) and Union Properties (UPP) 5.40 (1.88%).
Shuaa Capital (SHUAA) closing down 0.43% at 6.86 dirhams was the only share to fall on siginificant volume.
Abu Dhabi Securities Market The ADSM index closed at 4,744 a gain of 1.56% from the previous close. 578 million shares were traded worth 2.2 billion dirhams. Twenty five stocks rose and sixteen fell. The top traded share by volume was Dana Gas (DANA) rising 3.31% to 2.50 dirhams on 194 million shares traded.
Other shares to rise included: Aabar Petroleum (AABAR) 4.09 (3.02%), ARKAN 3.96 (1.54%), Etisalat (ETISALAT) 24.05 (2.12%), First Gulf Bank (FGB) 23.75 (3.94%), Oasis Leasing (OILC) 2.83 (0.35%), and Abu Dhabi National Energy (TAQA) 4.02 (3.88%).
RAK Properties (RAKPROP) closed steady at 2.72 dirhams on volume of 71 million shares traded.
Shares to fall included: Sorouh Real Estate (SOROUH) 8.78 (0.68%), RAK Cement (RAKCC) 2.29 (0.87%) and Aldar Properties (ALDAR) 12.10 (0.41%).
