10 stories mentioning DFM:DUUpdated 21d ago
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Goldman Sachs on Wednesday raised the price target for telecommunications company Emirates Integrated Telecommunications Co. (DFM:DU) d/b/a du, to 13.50 Emirati dirhams from 12.30 dirhams and kept its rating at buy.(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)
Stocks in the United Arab Emirates closed lower as renewed exchange of strikes between the US and Iran drove investors into a risk-off mode.At the close of Wednesday trading, the FTSE ADX General Index declined 0.564%, while the DFM General Index fell 1.511%.The US Central Command carried out new strikes on more than 80 Iranian defense systems, command and control networks, and anti-ship missile sites, as well as over 60 Islamic Revolutionary Guard Corps small boats, in response to Iran's attacks on three commercial vessels in the Strait of Hormuz. It also revoked a license permitting the sale of Iranian oil.Meanwhile, Iran retaliated by targeting US military sites in Bahrain and Kuwait, clouding prospects of a long-term deal between the two countries. Also damping sentiment were US President Donald Trump's comments that the interim agreement with Iran is "over."On the economic front, markets will keep an eye out for the release of the highly anticipated minutes of the Federal Open Market Committee's June meeting later in the day to get cues on the US Fed's next interest rate move."Today's minutes will clarify how serious members are about the possibility of rate hikes. Based on post-meeting communication, we see limited risk of a dovish surprise in the minutes. We expect a cementing of the hawkish message to firm up dollar momentum, although we don't expect it to lead to a break higher as markets may be reluctant to reprice rate expectations aggressively higher (now 35bp by December) after the soft jobs report," ING analysts commented.Back home, Dubai Chambers initiated its Business in Dubai platform to offer corporate services across financial, marketing, technology, and testing and certification sectors to companies aiming to scale their growth in Dubai.Over to corporates, Presight AI (ADX:PRESIGHT) signed a term sheet with Kazakhstan's Ministry of Transport to assess the development of a national operational intelligence platform for real-time monitoring and management of Kazakhstan's transport system. Presight AI closed the session 0.87% higher.Emirates Integrated Telecommunications Co. (DFM:DU) d/b/a du, unit du Pay partnered with Gcash to provide faster and affordable cross-border remittance services to Filipino workers in the UAE. The Dubai-listed telecommunications company's stocks ended 4.23% in the red.
AlphaMena on Thursday lowered the price target for telecommunications company Emirates Integrated Telecommunications Co. (DFM:DU) d/b/a du, to 11.20 Emirati dirhams from 11.50 dirhams and kept its rating at reduce.(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)
Stocks in the United Arab Emirates ended lower as markets await the release of key economic data from the world's biggest economy later in the day.At the close of Thursday trading, the FTSE ADX General Index declined 1.174%, while the DFM General Index shed 1.431%.The US Bureau of Economic Analysis will release the personal consumption expenditures price index reading for May on Thursday. The data, which is the Federal Reserve's preferred measure of inflation, is expected to increase 0.5% in May and 4.1% on an annual basis, while core CPI is expected to rise 0.3% monthly and 3.4% year over year.On the geopolitical front, US President Donald Trump said in a social media post that Iran informed the US that it is not receiving tolls, insurance costs, and other charges from vessels passing the Strait of Hormuz. Trump also vowed to end negotiations in case the information turns out to be false."Oil prices continue to ease amid reports of further improvement in conditions overseas. According to vessel-tracking data compiled by Bloomberg, seven tankers have crossed the Strait of Hormuz or were in the strait yesterday, while separately, data analytics company Kpler reported 39 ships moved through the chokepoint on Monday," Stifel said in a note. "Both the U.S. and Iran have signaled broad-based progress toward ending the war. That being said, the situation remains delicate as negotiations continue."Closer to home, the Dubai Financial Services Authority, or DFSA, recorded a 16% year-over-year growth in licensed and registered firms in 2025, bringing the total number to 1,050.Over to corporates, shares of Burjeel Holdings (ADX:BURJEEL) ended 1.71% lower. The healthcare company priced its $500 million offering of Regulation S five-year senior unsecured sukuk for local and international investors.Meanwhile, in Dubai, Emirates Integrated Telecommunications Co. (DFM:DU) d/b/a du, delivered the first deployment of 5G-advanced services over L-Band spectrum to boost spectrum efficiency and enhance network capacity and quality. Shares of the telecommunications company closed the session 0.87% in the red.
United Arab Emirates equities ended Wednesday's trading session in the red as investors dissected the latest data from the country's non-oil private sector.At the close of trading, the FTSE ADX General Index was down 0.406%, while the DFM General Index declined 0.801%.The S&P Global UAE PMI increased to 52.6 in May from 52.1 in April, staying well below its long-run average of 54.3. While operating conditions improved, growth remained subdued with a decline in export orders, and cost pressures rose amid the ongoing regional developments and supply chain disruptions due to the continued closure of the Strait of Hormuz."The continued cut-off to maritime trade had a cascading effect through the UAE economy in May. Input deliveries were delayed to the greatest extent since the height of the COVID-19 pandemic in April 2020, with some firms reporting that disruptions to manufacturing production schedules fed through to other sectors," S&P Global Market Intelligence senior economist David Owen said. "Positively, the longer-term outlook remained strong in May, suggesting that businesses still view these current challenges as temporary and expect growth to bounce back quickly."On the geopolitical front, the US and Iran exchanged fresh strikes overnight, while further talks between Lebanon and Israel are expected to take place on Wednesday.Back home, Abu Dhabi National Energy Co. (ADX:TAQA), d/b/a Taqa, in a consortium with Aljomaih Energy and Water Co. and Sembcorp Industries, secured the Taweelah C independent power producer project in Abu Dhabi from Emirates Water and Electricity Co. Shares of the energy company closed the session 1.72% lower.Meanwhile, in Dubai, stocks of Emirates Integrated Telecommunications Co. (DFM:DU) d/b/a du, ended flat. The telecommunications company launched a $50 million corporate venture fund to invest in fintech, artificial intelligence, and cybersecurity companies as part of its strategy to enhance its core activities.
JP Morgan on Sunday started its coverage of telecommunications company Emirates Integrated Telecommunications (DFM:DU), d/b/a du, with a neutral rating and a price target of 10.60 Emirati dirhams.(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)
Markets in the United Arab Emirates ended Friday's trading session in negative territory as investors turned cautious amid renewed attacks between the US and Iran.At the close of trading, the FTSE ADX General Index fell 0.370%, while the DFM General Index was 0.50% in the red.Iran attacked three US warships in the Strait of Hormuz, and the US Central Command retaliated with attacks on Iranian military facilities involved in the strikes, diminishing markets' hopes for a peace deal and a stable ceasefire.The exchange of attacks follows reports that Iran is reviewing a US proposal and is expected to respond through Pakistan. US President Donald Trump also said in a social media post on Friday that the US will knock Iran "a lot harder, and a lot more violently" if a deal is not signed."Market optimism is fading again, after some military skirmishes in the Strait of Hormuz and the US restarting its escorting programme. There is still some hope that a deal will be agreed before the 14-15 May US-China summit, but risks are clearly very binary for USD crosses at this stage," ING said. "If this proves to be another episode of misplaced optimism on a US-Iran deal, not only does the dollar have plenty of upside room to recover, but there's a good chance investors will prove more cautious and won't jump as aggressively into de-escalation trades without concrete progress in negotiations."Closer to home, the UAE's Ministry of Defence said in a Friday statement that the country's air defense systems engaged two ballistic missiles and three unmanned aerial vehicles from Iran.On the corporate side, Emirates Driving Co. (ADX:DRIVE) rebranded to Emirates Mobility Co. as part of its strategic transformation into an integrated mobility ecosystem. Shares of the driving school operator closed the session 1.59% lower.Over in Dubai, Emirates Integrated Telecommunications Co. (DFM:DU), d/b/a du, closed 3.13% in the green. The telecommunications company appointed BHM Capital Financial Services (DFM:BHMCAPITAL), whose shares closed the session flat, as its liquidity provider.
AlphaMena on Wednesday downgraded telecommunications company Emirates Integrated Telecommunications (DFM:DU), d/b/a du, to reduce from add and decreased its price target to 11.40 Emirati dirhams from 11.60 dirhams.(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)
Goldman Sachs on Thursday increased the price target for telecommunications company Emirates Integrated Telecommunications (DFM:DU), d/b/a Du, to 12.30 Emirati dirhams from 11.70 dirhams, while keeping its buy 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)
Trading in the United Arab Emirates ended in the red as markets await the release of a key US economic report later in the day.At the close of Thursday trading, the FTSE ADX General Index was down 0.330%, while the DFM General Index shed 1.45%.The US Bureau of Economic Analysis will release personal consumption expenditures price index data, which is the Federal Reserve's preferred measure of inflation, for February on Thursday."After rising 0.3% in January and 2.8% on an annual basis, the PCE is expected to increase 0.4% in February and 2.8% year-over-year, potentially matching the annual increase at the start of the year," Stifel said in a note. "Excluding food and energy costs, the core PCE is also expected to increase 0.4% in February and 3.0% on an annual basis, potentially marking the smallest annual rise since December."On the geopolitical front, oil prices rose again amid worries of a fragile ceasefire deal between the US and Iran. Israel launched fresh strikes on Lebanon, with Iran stating that the attacks halted the passage of oil tankers through the Strait of Hormuz.Also dampening sentiment was US President Donald Trump's threats to impose an immediate 50% tariffs on countries supplying weapons to Iran, Reuters reported.Back home and on the corporate front, stocks of Two Point Zero Group (ADX:2POINTZERO) closed the session 2.89% in the red. The investment company's subsidiary, E Point Zero Holding, created a joint venture with Adani Green Energy to develop renewable energy projects in India.Dubai-listed Emirates Integrated Telecommunications (DFM:DU), d/b/a du, secured a new 2 billion-Emirati-dirham facility for general corporate purposes with local and international lenders. Shares of the telecommunications company closed the session 1.54% lower.
