13 stories mentioning DFM:PARKINUpdated 4d ago
Every FINWIRES story that references DFM:PARKIN, newest first.
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Morgan Stanley on Tuesday increased the price target for parking facilities and services company Parkin Co. (DFM:PARKIN) to 6.50 Emirati dirhams from 6.10 dirhams, while reiterating its equal weight rating.
EFG-Hermes Brokerage on Monday upgraded parking facilities and services company Parkin Co. (DFM:PARKIN) to buy from neutral and kept its price target at 6.80 Emirati dirhams.
Shares trading in the United Arab Emirates closed mixed on Tuesday as investors weighed the impact of new US measures on Iran and its trading partners.At the close of trading, the FTSE ADX General Index was up 0.216%, while the DFM General Index declined 0.529%.The US Treasury Department threatened to impose secondary sanctions on 60 individuals, entities and vessels from multiple jurisdictions as part of its "economic onslaught" to cut Iran's financial ties with countries that do business with it.Meanwhile, Iran vowed to counter these sanctions, with Economy Minister Seyed Ali Madanizadeh stating that the country was fully prepared and had a two-year plan in place to withstand these events."The market seems largely unfazed by Washington's push for tighter economic pressure on Iran, with traders treating the US effort to nudge partners away from Iranian trade as marginal rather than market‑moving," ING said. "However, China is the largest buyer of Iranian energy. It remains unclear whether the US would risk a fragile trade truce with Beijing over secondary sanctions. The market is still awaiting further details on a possible timeline for trading partners to wind down ties with Iran."Back home and on the corporate side, Parkin (DFM:PARKIN) partnered with Bahrain Car Parks, or Amakin, to evaluate opportunities across parking technologies, digital mobility services and regional business development. Parkin's shares were 0.17% in the red at closing.FAB Securities affirmed its hold rating on GFH Bank (ADX:GFH, DFM:GFH) with a price target of 2.05 Emirati dirhams after the investment group logged 10.8% year-over-year growth in its second-quarter attributable net profit, its strongest since the same period in 2019. GFH Bank shares closed 1.04% in the green on the Dubai Financial Market and 0.52% higher on the Abu Dhabi bourse.
Markets in the United Arab Emirates closed lower on Wednesday as investors adopted a cautious stance on reports of renewed regional tensions with Iran.At the close of trading, the FTSE ADX General Index was down 0.912%, while the DFM General Index declined 0.28%.The UAE Ministry of Defence said Tuesday that the country's air defense systems detected two ballistic missiles from Iran. The missiles targeted maritime traffic and fell into the sea. Iranian Foreign Ministry spokesperson Esmaeil Baghaei, however, denied the claims, describing them as "baseless."As tensions between the two Middle Eastern countries renewed, the UAE halted all trade, commercial exchanges, and financial transactions with Iran, citing threats to regional security and international peace.Amid a quiet day for regional corporate news, Parkin (DFM:PARKIN) gained 2.14% at closing as it signed a memorandum of understanding with Modon Misr for Asset & Facility Management, Mwasalat Misr and Redcon Properties to explore joint initiatives in advanced parking management and mobility services in Egypt.Elsewhere, Jefferies launched its coverage of Fertiglobe (ADX:FERTIGLB) with a buy rating and set a price target of 3.50 Emirati dirhams, stating that the Abu Dhabi-listed fertilizer producer's diversified plant locations partially shield it from trade disruptions in the Strait of Hormuz. Fertiglobe's shares ended the session 0.77% in the green.In other news, markets will await the release of the US Federal Reserve's highly anticipated Federal Open Market Committee July meeting minutes later in the day to get clues on future interest rate decisions, voting divisions among members, and inflation."Markets are looking for a more detailed sense of the committee's thinking beyond Kevin Warsh's limited forward guidance. Three participants voted in favour of a hike, and since then, several others have flagged willingness to support a hike if warranted by incoming data," Danske Bank commented.
Arqaam Capital on Friday increased the price target for Dubai-listed parking spaces operator Parkin (DFM:PARKIN) to 6.10 Emirati dirhams from 5.90 dirhams, while maintaining its buy rating.
United Arab Emirates equities shrugged off renewed geopolitical and oil price jitters as both Dubai and Abu Dhabi indices closed the last trading day of the week in the green.At the close of Friday trading, the FTSE ADX General Index added 0.223%, while the DFM General Index rose 0.56%.Oil prices gained after a Reuters report, citing two senior Iranian sources, said that Iran's Supreme Leader, Mojtaba Khamenei, ordered that enriched uranium should not be sent abroad, conflicting with the US demand to transfer it out of the country."Uncertainty surrounding a US-Iran deal abounds as we head into the weekend, leaving the market susceptible to seesaw price moves if any fresh noise emerges," analysts at ING said. "While there are signs of optimism, uncertainty reigns. This is not the first time a deal seemed close, only for negotiations to break down. So, there's a large segment of the market that will be more sceptical about the positive signals we are seeing."As of 3:07 pm UAE time, the Brent crude oil futures stood at nearly $105.47 per barrel, up 2.82% from the previous day.Back home and on the corporate front, International Holding Co. (ADX:IHC), IHC, closed 0.256% lower. The Abu Dhabi-based holding company carried out a transaction worth 110 million Emirati dirhams through DDSC, a dirham-backed stablecoin approved by the UAE Central Bank.Meanwhile, in Dubai, Salik (DFM:SALIK) and Parkin Co. (DFM:PARKIN) will start to implement the Federal Tax Authority's new value-added tax rate of 5% on their services from June 1. Shares of Salik closed 0.90% lower, while those of Parkin ended 1.64% in the green.
HSBC on Wednesday raised the price target for parking spaces operator Parkin Co. (DFM:PARKIN) to 6.50 Emirati dirhams from 6.20 dirhams, while maintaining a buy rating.
Goldman Sachs on Thursday increased its price target for parking facilities and services company Parkin Co. (DFM:PARKIN) to 6.70 Emirati dirhams from 6.20 dirhams, with an unchanged buy rating.
Shares in the United Arab Emirates kicked off the week higher as the FTSE ADX General Index added 0.320%, while the DFM General Index gained 0.226% at the close of Monday trading.Investors will await the release of the UAE's S&P Global PMI data for April on Tuesday to get insights into the country's non-oil private sector activity. The metric dropped to 52.9 in March from 55 in February.On the oil front, OPEC+ agreed to raise oil output in June by 188,000 barrels per day following the UAE's exit from the group and amid supply disruptions caused by the continued closure of the Strait of Hormuz."The exit of OPEC's third-largest producer substantially weakens the organisation and raises questions over its survival as an effective cartel. As the UAE increases output outside OPEC, the group's share of global supply will decline, reducing its ability to manage prices. If the UAE successfully raises output and revenue outside the cartel, it could also undermine the value of membership for other producers with large reserves or ambitions to raise output, such as Venezuela," Oxford Economics said in a note.On the corporate side, Adnoc Drilling (ADX:ADNOCDRILL) was the Abu Dhabi bourse's most traded by value and closed the session at 9.17% in the green. The offshore drilling company concluded the purchase of an 80% stake in the drilling and oilfield services joint venture MB Petroleum Services.Dubai-listed Parkin Co. (DFM:PARKIN) secured a multi-year parking enforcement services deal from Emaar Properties (DFM:EMAAR) unit Emaar Mall Management. Parkin's stocks ended 1.54% lower while Emaar Properties closed the session 1.70% higher.On the geopolitical front, US President Donald Trump launched "Project Freedom" to guide ships and crews safely out of the Strait of Hormuz, while also adding that his representatives are having "very positive" discussions with Iran."After a volatile week, the oil market is steadier as the market digests President Trump's plan to get vessels through the Strait of Hormuz," ING said. "Reports indicate that, for now, the plan won't involve the US Navy escorting vessels. Even if this allows vessels to leave the Persian Gulf, we're likely to see little inbound traffic. This would only amount to temporary relief, as floating storage leaves the Persian Gulf.
Arqaam Capital on Wednesday reduced the price target for parking spaces operator Parkin (DFM:PARKIN) to 5.90 Emirati dirhams from 6.80 dirhams and affirmed its buy rating.
Morgan Stanley on Tuesday lowered the price target for parking spaces operator Parkin (DFM:PARKIN) to 5.80 Emirati dirhams from 6.30 dirhams and affirmed its equal weight rating.
UBS on Tuesday decreased the price target for parking spaces operator Parkin (DFM:PARKIN) to 5.90 Emirati dirhams from 7.22 dirhams and affirmed its buy rating.
Shares in the United Arab Emirates were back in the green as prospects of peace talks resumption between the US and Iran lifted investor sentiment.At the close of Tuesday trading, the FTSE ADX General Index was up 0.556%, while the DFM General Index added 0.904%.Multiple media outlets reported that the US and Iran could return to Pakistan this week to hold a fresh round of talks after achieving no breakthrough in their previous negotiations. US President Donald Trump also said that Iran reached out to resume negotiations amid the US blockade of its ports."The fact that the two sides seem to be discussing the timeline, and apparently back-channel diplomacy has continued, we think a deal is possible but it will most likely require several rounds of talks, and meanwhile, the war could escalate," Danske Bank said in a note.Zooming in at home, the Central Bank of the UAE agreed to collaborate with Bangko Sentral ng Pilipinas to streamline cross-border payments, bolster bilateral trade, and establish infrastructure for finance and digital assets.On the corporate side, Aldar Properties (ADX:ALDAR) was the Abu Dhabi bourse's most traded stock by value and ended 3.70% in the green. The real estate developer launched the first phase of the Yas Park Place residential community in Yas Island.Elsewhere, Parkin Co. (DFM:PARKIN) partnered with Binghatti Holding to integrate its advanced parking capabilities into a portfolio of 1,200 parking spaces across Binghatti developments in the Jumeriah Village Circle, Al Jaddaf, and Business Bay areas. The parking spaces operator's stocks closed the session 3.00% higher.
