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8 stories mentioning DFM:DEWAUpdated 20d ago

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Asia Markets

Emirati Indices Snap Losing Streak; UAE's e& Gains on Vodafone Deal

Stock trading in the United Arab Emirates broke a two-day losing streak and ended the last trading day of the week on a higher note after markets breathed a sigh of relief on reports of easing geopolitical fears.Abu Dhabi's FTSE ADX General Index was up 0.549%, while Dubai's DFM General Index added 0.862% at Friday's closing.Oil prices fell as Bloomberg News reported, citing a US official, that technical talks between the US and Iran will continue despite their latest exchange of attacks over the past two days."Those oil price declines followed headlines suggesting that the escalation between the US and Iran might not prove as serious as initially feared. Most notably, sentiment was supported by comments from President Trump late on Wednesday night, that we mentioned yesterday, saying that Iran wanted 'to make a deal so badly'. So when US and European markets reopened yesterday, they were buoyed by the fact that Trump was still talking about some kind of agreement," Deutsche Bank Research commented.Back home and on the corporate front, Emirates Telecommunications Group Co. (ADX:EAND), d/b/a e&, agreed to sell its entire 16.21% shareholding in British telco Vodafone to Niel family group wholly-owned acquisition vehicle Vega for $5.95 billion. Stocks of e& were the most traded by value on the Abu Dhabi bourse and closed the session 5.29% higher.On the other hand, Adnoc Logistics & Services (ADX:ADNOCLS) gained 0.83% as it decided to expand its fleet of liquefied natural gas carriers with four additional vessels through a $900 million shipbuilding contract to China's Jiangnan Shipyard.Meanwhile, Dubai Electricity and Water Authority (DFM:DEWA), or Dewa, launched its new wholly owned independent subsidiary, Dewa International, to develop power and water projects worldwide through establishing partnerships with global organizations. Dewa ended the session at the 0.36% in the green.

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Research

JP Morgan Lifts Dewa's PT, Maintains Overweight Rating

JP Morgan on Wednesday increased the price target for electricity and water services company Dubai Electricity and Water Authority (DFM:DEWA), or Dewa, to 3.40 Emirati dirhams from 3.30 dirhams and affirmed its overweight rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

DFM:DEWA
Asia Markets

UAE Equities Slide as Geopolitical Risks Resurface

United Arab Emirates indices closed Thursday in the red again as investors resorted to a cautious stance amid the escalating situation between the US and Iran.At the close of trading, the FTSE ADX General Index was little changed at 0.033% in the red, while the DFM General Index declined 0.184%.Dominating headlines all over the world are the US Central Command's second round of strikes on Iran, targeting 90 air defense systems, coastal surveillance assets, missile and drone storage sites, and military logistics infrastructure along the country's coastline. Iran responded by attacking US bases in the Gulf."Tanker traffic through the Strait of Hormuz has essentially stopped, which tells you more about risk perception right now than any statement from Washington or Tehran. Brent's climb to its highest level since 19 June shows how quickly the market is pricing in a ceasefire the US president himself says is over," Rystad Energy head of geopolitical analysis Jorge Leon commented. "It's unclear whether diplomatic channels remain open in practice; the latest military exchanges raise the risk that talks will either stall or continue under much more fragile conditions. Fundamentally, the events of the last few days significantly weaken any confidence that the current 60-day truce can still evolve into a permanent peace agreement."Zooming in at home, Dubai Chambers agreed to collaborate with digital financial platform Wio Bank to deliver business account opening, financing, and credit services to small and medium-sized enterprises in Dubai.On the corporate side, Lulu Retail (ADX:LULU) shares closed the session 0.21% lower. The Abu Dhabi-listed retailer opened a new express store in Oman as part of its broader expansion and customer access-enhancing strategy.Elsewhere, Dubai Electricity and Water Authority (DFM:DEWA), d/b/a Dewa, and Dubai Taxi Co. (DFM:DTC) inaugurated the first ultra-fast electric vehicle charging hub for the latter's electric taxi fleet in Dubai. Dewa gained 0.72%, while Dubai Taxi stocks remained flat at trading's close.

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Research

Goldman Sachs Lifts Dewa's PT, Maintains Neutral Rating

Goldman Sachs on Wednesday increased the price target for electricity and water services company Dubai Electricity and Water Authority (DFM:DEWA), or Dewa, to 3.00 Emirati dirhams from 2.90 dirhams and reiterated its neutral rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

DFM:DEWA
Asia Markets

UAE Stocks End Week Mixed as US Inflation Rises

Markets in the United Arab Emirates closed the last trading day of the week diverged as investors dissected the latest inflation figures from the US to get insights into future interest rate policies.At the close of Friday trading, the FTSE ADX General Index was little changed at 0.04% in the green, while the DFM General Index lost 0.104%.The annual US personal consumption expenditures price index rose 4.1% in May, hitting a three-year high, with a 0.4% increase on a monthly basis. Core PCE, on the other hand, grew 0.3% monthly, similar to April and 3.4% on an annual basis. The latest inflation readings prompted markets to price in the possibility of interest rate hikes by the US Fed."The global economy will likely be tested by tighter financial conditions emanating from the US. The labor market firmed up and inflation dynamics have deteriorated in the US. While some one-offs are partly to blame, and tariffs should soon roll off, most of the FOMC seems to be losing patience aſter 5 years of high inflation. We have been clear that the economy was not asking for cuts and there is a lot of uncertainty on how the Fed will operate, but we now expect 75bp of Fed hikes this year, starting in September," BofA Global Research said.On the geopolitical front, Iran's Revolutionary Guards launched a drone strike on a cargo ship in the Strait of Hormuz near Oman, pausing a UN maritime agency's operation to escort vessels through the waterway and casting doubts over the interim peace deal signed with the US.Zooming in at home, Nasdaq Dubai listed $500 million of senior unsecured trust certificates issued by multilateral financial institution The Arab Energy Fund, with the issuance receiving orders worth more than $900 million.On the corporate side, Aldar Properties (ADX:ALDAR) was the Abu Dhabi bourse's most traded stock by value and closed 2.28% higher. The real estate developer generated more than 680 million Emirati dirhams in sales through the selling-out of townhouses at the Orchids at Yas Acres project in Abu Dhabi.Dubai Electricity and Water Authority (DFM:DEWA) and energy technology company Siemens Energy conducted a workshop to explore opportunities across digital transformation and sustainability initiatives and boost stakeholder value and decision-making through artificial intelligence. Shares of Dubai-listed electricity and water services company closed 1.07% in the red.

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Asia Markets

Abu Dhabi, Dubai Shares End Lower as Corporate Earnings Remain in Focus

Stocks in the United Arab Emirates ended lower as investors dissected the latest earnings reports from the region to assess the impact of ongoing geopolitical tensions on the companies' profits.At the close of Tuesday trading, the FTSE ADX General Index lost 0.905%, while the DFM General Index shed 0.641%.Adnoc Gas (ADX:ADNOCGAS), Lulu Retail (ADX:LULU), and Abu Dhabi Aviation (ADX:ADAVIATION) all recorded lower first-quarter attributable profits. Stocks of Adnoc Gas and Lulu Retail closed the session 2.96% and 3.30% in the red, respectively, while Abu Dhabi Aviation gained 0.58%.Over to Dubai, Deyaar Development (DFM:DEYAAR) and Talabat's (DFM:TALABAT) attributable profits for the period also dropped year over year. Deyaar Development shed 1.10%, while Talabat lost 1% at the close of trading.Conversely, Dubai Electricity and Water Authority (DFM:DEWA), d/b/a Dewa, logged a higher attributable profit for the quarter and an 8.18% year-over-year growth in revenue. Its shares closed 2.96% in the green."DEWA delivered an exceptional start to 2026, achieving its highest-ever first-quarter revenue, EBITDA, operating profit and net profit. Consolidated net profit for the first quarter increased by nearly 90% compared with the same period last year, while clean energy accounted for 18.5% of total power generated during the quarter. We had a record quarterly revenue of AED 6.45 billion, EBITDA of AED 2.88 billion, operating profit of AED 1.29 billion and net profit of AED 0.94 billion," Dewa's Chief Executive Officer Saeed Mohammed Al Tayer commented.Across the pond, US President Donald Trump is set to meet his Chinese counterpart, Xi Jinping, this week. The two leaders are expected to discuss tensions over Iran, Taiwan, nuclear weapons, and artificial intelligence."President Trump warned the ceasefire with Iran is 'on life support' after Tehran's counterproposal. Brent crude is trading around USD105/bbl this morning, extending gains from yesterday's session. Trump is reportedly meeting his national security team to consider next steps, including a possible resumption of military action and a renewed naval mission in the Strait of Hormuz. The conflict is also likely to be on the agenda when he meets President Xi Jinping this week," Danske Bank said.

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Research

Morgan Stanley Lowers Dewa's PT, Keeps at Equalweight

Morgan Stanley on Tuesday decreased the price target for electricity and water services company Dubai Electricity and Water Authority (DFM:DEWA), d/b/a Dewa, to 3.00 Emirati dirhams from 3.30 dirhams and affirmed its equal weight rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

DFM:DEWA
Research

JPMorgan Trims Dewa PT, Keeps Overweight Rating

JPMorgan on Wednesday reduced its price target for electricity and water services company Dubai Electricity and Water Authority (DFM:DEWA), d/b/a Dewa, to 3.30 Emirati dirhams from 3.45 dirhams, with an unchanged overweight rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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