MENA Markets Weekly

UAE stock markets ended the week on a mixed note, with the Dubai Financial Market (DFM) being the top gainer out of both UAE stock markets. The market posted a gain of 0.36 percent to close at 1,497.47 points. The market was aided by gains witnessed in the Telecom Sector and the Real Estate Sector which ended the week up 1.96 percent and 1.02 percent, respectively. In addition, the Abu Dhabi Securities Exchange (ADX) ended in the red zone, down 0.23 percent and closed at 2,500.62 points. The Consumer Sector was the top losers in the ADX for the week, posting a 4.55 percent decrease and therefore playing a role in the market’s decline. Furthermore pulling the market down was the Construction Sector, which ended the week down 1.08 percent. Read more

DFM achieves 100% compliance in local company disclosures of Q2-2010 results

Dubai Financial Market (DFM) announced today that its listed local public joint stock companies have recorded a 100% compliance regarding the disclosure of Q2-2010 results within the deadline of 45 days from the end of the period. Read more

MENA Markets Weekly

UAE stock markets ended the week on a mixed note, with the Dubai Financial Market (DFM) being the top gainer out of both UAE stock markets. The market posted a gain of 0.36 percent to close at 1,517.78 points. The market was aided by gains witnessed in the Utilities Sector and the Financial & Investment Sector which ended the week up 1.62 percent and 1.35 percent, respectively. In addition, the Abu Dhabi Securities Exchange (ADX) ended in the red zone, down 0.64 percent and closed at 2,529.40 points. The Industrial Sector was the top losers in the ADX for the week, posting a 4.27 percent decrease and therefore playing a role in the market’s decline. Furthermore pulling the market down was the Real Estate Sector, which ended the week down 4.25 percent. Read more

Dubai Mercantile Exchange achieves new records in open interest and physical delivery

The Dubai Mercantile Exchange (DME) announced today that two new trading records were set in July 2010 as the exchange entered its fourth year of operations.
Total open interest in its flagship DME Oman Crude Oil Futures Contract (DME Oman) during July 2010 reached a new record of 20,160 contracts. Open interest is the total number of outstanding futures contracts held by market participants and is regarded as a leading performance indicator in the industry. Open interest in DME Oman has increased steadily in 2010, the latest figure exceeding the previous total open interest record of 19,867 contracts set in February 2010. Read more

MENA Markets Weekly

UAE stock markets ended the week on a negative note, with the Dubai Financial Market (DFM) being the top decliner out of both UAE stock markets. The market posted a loss of 1.08 percent to close at 1,512.40 points. The market was aided by losses witnessed in the Real Estate Sector and the Investment & Financial Services Sector which ended the week down 3.20 percent and 1.79 percent, respectively. In addition, the Abu Dhabi Securities Exchange (ADX) also ended in the red zone, down 0.20 percent and closed at 2,545.80 points. The Real Estate Sector was the top decliner in the ADX for the week, posting a 3.53 percent drop and therefore playing a role in the market’s decline. Furthermore dragging down the market was the Energy Sector, which ended the week down 2.42 percent. Read more

Emirates Securities Market Report for the Trading Session of Thursday 29 July 2010

The Emirates Securities Market Index has decreased by 0.04% to close at 2,477.48 points. Accordingly the Market Capitalization has lost 0.15 Billion AED attaining 365.29 Billion AED. A total of 61.77 Million shares were traded with a total value of 93.01 Million AED during the trading session of Thursday 29 July 2010 through 1,697 transactions. The Banks sector has increased by 0.28% , followed by the Insurance sector that increased by 0.05% , followed by the Services sector that decreased by 0.27% , followed by the Industry sector that decreased by 0.29%. Read more

Dubai Investments Q2 profit falls 32 pct

Dubai Investments PJSC (“DI”), the largest investment company listed on the Dubai Financial Market, today announced its financial results for the six-month period ended 30th June 2010 (“the Period”).

DI reported net profit of AED 474 million for the Period with total income at AED 1.67 billion. The Company’s total liabilities as at 30th June 2010 stand at AED 5.04 billion, while non-current assets total AED 8.62 billion. The annualized return on share capital achieved for the Period is 27%. Read more

Emirates Securities Market Index up 0.09%

The Emirates Securities Market Index has increased by 0.09% to close at 2,485.66 points. Accordingly the Market Capitalization has gained 0.33 Billion AED attaining 366.50 Billion AED. A total of 0.11 Billion shares were traded with a total value of 0.16 Billion AED during the trading session of Monday 26 July 2010 through 2,542 transactions. The Industry sector has increased by 0.31% , followed by the Services sector that increased by 0.12% , followed by the Insurance sector that increased by 0.06% , followed by the Banks sector that increased by 0.01%. Read more

Credit Suisse downgrads Dubai Financial Market

Credit Suisse has downgraded Dubai Financial Market’s rating to Neutral from Outperform while slashing its target price to from Dh2.20 to Dh1.40, citing a weak outlook.

Credit Suisse also cut Emirates NBD’s target price from Dh6.10 to Dh3.80 following the lender’s Q2 results update yesterday and due to slower growth expectations. Read more

MENA Markets Weekly

UAE stock markets ended the week on a positive note, with the Abu Dhabi Securities Exchange (ADX) being the top gainer out of both UAE stock markets. The market posted a gain of 1.08 percent to close at 2,550.98 points. The market was aided by gains witnessed in the Energy Sector and the Industrial Sector which ended the week up 15.72 percent and 1.99 percent, respectively. In addition, the Dubai Financial Market (DFM) also ended in the green zone, up 0.58 percent and closed at 1,582.97 points. The Insurance Sector was the top gainer in the DFM for the week, posting a 2.73 percent increase and therefore playing a role in the market’s advance. Furthermore pulling the market up was the Telecom Sector, which ended the week up 2.49 percent. Read more

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