Special Features
UAE Market Report
A good session on the DFM today as the index finished up 0.66% despite the Bears trying to push it down for the whole trading session. Like a good team the index finished in front despite playing poorly. This type of trading session will give the Bulls heart.The ADSM finished the day slightly down falling 0.29% on low volumes. DEYAAR was the stand out share on the DFM rising 2.99% to 2.75 dirhams on massive volume of 252 million shares traded.
DANA topped the trading on the ADSM, rising 1.66% to 2.45 dirhams on turnover of 96 million shares traded.
The UAE economy is in good shape, likely to grow 6.6% this year even if oil falls to $60 per barrel according to the UAE Central Bank Governor. AJMAN Bank’s IPO is drawing a good response according to receiving Banks. The issue will close Wednesday 27 February 2008.
DFM Anouncements TAMWEEL BOD meeting 27 February 2008. EMAAR disclosed its audited Finiancial results for FY 2007. DIB AGM to be held 9 March 2008.
ADSM Anouncements (AABAR) Aabar general assembly meeting was postponed until Sunday March 2, 2008 due to the lack of quorum. (GCEM) Gulf Cement discloses financial statements for the year ended 2007. (TKFL) Result of Abu Dhabi National Takaful board meeting. (UAB) United Arab Bank discloses results of General Assembly Meeting held on February 24, 2008 Dubai Financial Market The DFM index closed at 5,924 a rise of 0.66% from the previous close. 423 million shares were traded worth 1.6 billion dirhams. Fifteen shares advanced and five declined. The top traded share was DEYAAR, rising 2.99% to 2.75 dirhams on volume of 252 million shares.
Other shares to rise included: Amlak Finance (AMLAK) 4.91 (1.02%), DFM 6.33 (2.26%), Emaar Properties (EMAAR) 12.65 (0.39%) and GULFNAV 1.66 (0.60%).
Shares to fall included: Arabtec (ARTC) 11.70 (0.42%) and Islamic Arab Insurance (IAIC) 3.71 (0.26%) Abu Dhabi Securities Market The ADSM index closed at 4,806 a fall of 0.29% from the previous close. 238 million shares were traded worth 993 million dirhams. Seventeen shares advanced and twenty six declined. The top traded share was Dana Gas (DANA) rising 1.66% to 2.45 dirhams on volume of 96 million shares.
Other shares to rise included: ADAVIATION 4.64 (9.69%), NBS 4.15 (3.75%) and RAK Cement (RAKCC) 2.10 (2.44%).
Shares to fall included: Aabar Petroleum (AABAR) 4.59 (1.71%), Etisalat (ETISALAT) 25.00 (0.40%), Oasis Leasing (OILC) 2.73 (1.44%), RAK Properties (RAKPROP) 2.72 (0.73%) and Sorouh Real Estate (SOROUH) 10.15 (0.98%).
