UAE stock market performance 2009

[sam111sam]

DFM closed the year with 9% gain, but
very far from 2009 peak (25% blow 2009 peak)
Huge drop from Jan1st 2008 level. 70% Drop can be the worst drop in the world.

ADX picture is better
12% gain in 2009, only 15% below 2009 peak
42% below Jan 1st 2008..which is more in line with Other GCC markets

Europe and US closed 2009 with 20% gain, and closed the year almost at the peak prices of 2009. DOW had one of the longest rallies in its history runnig for 9 months continuous and gaining 60% from March till Dec 2009
But still a 20% Drop when compared with Jan 2008 level (130xx)

World markets are making new 52W high almost every week... Oil is trading again above $80, Yet UAE markets are still reluctant to move after the crash of DW

Investors are still concerned of the consequences of DW issues. For example, Yesterday ARTC CEO said that they will close a great year iterms of profit and backlog, but unlikely to pay any cash dividend because of the Dhs 2B outstanding which is taking long time to collect from the market

I don't expect real rally till DW reach an agreement with banks and bond holders. Meantime, DFMGI will be 1800-2000

[Cash King]

Hi Sam,

I completely agree with you. Untill and unless DW matter is not sorted out No chance to regain confidence.

But I am very hopeful that it will be sorted out with WIN WIN situation for both the parties.

This year No listed company at DFM may announce CASH dividend. Very Few will announce Bonus & Some will Issue Right.

High Expectation High Disappointment.

Dubai Financial Market will take move in April 2010 and will Fly in Sep 2010. My guess work.

Subject to Commodity Markets & Emerging Markets remain stable.

Thanks & Kind Regards

[fayesloan]

DW is old news for our stock market. Sure it is a big problem for everyone but it's old news. As a fundamental stock market player you should be trying to guess what could go wrong that's not in the media now and what can spring out of "nowhere" but there really is no "nowhere" because there are so many people who know exactly what is going on in their companies. The problem is that most of them don't come to this forum and are not interested in stocks. There are so many ugly possibilities in the GCC that our dear banks in the UAE are wondering what they can reasonably expect to go right for the next couple of years, not what can go wrong.
The real saviour now is an oil price remaining above 60 dollars for a long time to come. But how are other countries that import Arab oil handling higher fuel expenses?
When you talk about technicals and trendlines the market crash here in November December was interesting. It was bigger than in July but like in July, stocks very quickly recovered a big chunk of losses to show some strength. Stangely, the trend is still up for most stocks since last years' lows. Stocks are not willing to sink for an extended period it seems. I would say there is a bullish bias. I hope I'm not jinxing the market...

[sharewadi]