UAE markets 30 Aug 2007

UAE market news & discussions for 30 August 2007 The DFM rose slightly on reasonable trading levels, led by DFM's own shares which seems an unlikely reaction to the news that the Swedish National Economic Crimes Bureau (Ekobrottsmyndigheten in Swedish - there's one for the next spelling bee), was considering an investigation into Borse Dubai's bid for the OMX. The ADSM barely moved on lowish trading volumes. A new law was announced in the UAE allowing family run companies to go public but retain a majority stake. The minimum offer requirement was reduced from 55% to 30% of the company. Forsyth, who had their licences revoked by the DFSA this week, was issued with non-operational licences for the DIFC. Kingdom Hotel Investments (listed on the DIFX) announced a 39% fall in profits for 2007 H1. There was news of the construction of an AED 4.4 billion city in Malaysia with several UAE companies involved, including Aldar Properties (there share price was up today). Deyaar announced an AED 2 billion development in the IMPZ area of Dubai, and Nakheel announced a 4000 villa project called Al Furjan in Dubai.

• 30 Aug 2007 UAE stocks and financial news
• ADSM updates SMARTS surveillance systems - PR 29 Aug 2007
• ALDAR, Mubadala with SJIC to build US$1.2 bn Malaysia city PR 29 Aug 07
• ARMX to release region's first Corporate Sustainability Report PR 29 Aug 07
• Borse Dubai OMX bid - Swedish crimes unit may investigate - R 29 Aug 07
• DEYAAR - AED 2 bn residential project in IMPZ - PR 29 Aug 07
• ETISALAT - 4th mobile provider in Afghanistan - AP 28 Aug 2007
• ETISALAT - Qatar extends mobile licence bid deadline by 2 weeks 29 Aug 07
• Forsyth issued with non-operational DIFC licences - KT 30 Aug 2007
• GGICO - Dh 771m loan facility from StanChart & EIB - DFM 28 Aug 07
• IPOs - family companies can keep 70% - new law WAM 29 Aug 07
• KHI 2007 H1 profit down 39% to AED 62m - PR 29 Aug 2007
• Nakheel launches 4000 villa project Al Furjan in Dubai - PR 29 Aug 07
• TAQA, DANA - new energy kids on the block - Reuters 28 Aug 07

More UAE stock market news and discussions...

best stock rises symbol price change GLOBAL 11.20 +0.70 +6.7% ASMAK 5.73 +0.32 +5.9% FBICO 1.84 +0.09 +5.1% TKFL 4.28 +0.18 +4.4% OIC 8.25 +0.25 +3.1%

worst stock falls symbol price change WARE 19.40 -3.40 -14.9% AWNIC 4.36 -0.48 -9.9% OEIHC 18.15 -0.75 -4% INVESTB 2.95 -0.10 -3.3% GGICO 7.65 -0.20 -2.5%

top volume symbol value (AED) price DFM 500,989,121 3.14 EMAAR 337,270,003 10.90 ALDAR 163,569,643 6.90 AIRARABIA 92,605,963 1.25 ADIB 41,058,343 55.10

Dubai Financial Market

The DFMGI rose a slight 0.2% to 4255 points from a decent 1.08 bn dhs of turnover, half of that in DFM shares which rose a solid 3%. Other actively traded stocks rose 1% or less. Emaar Properties PJSC (EMAAR) was up just 0.5% to 10.90 from a moderate 337m dhs of turnover.

Shuaa Capital PJSC (SHUAA) had the worst fall out of stocks trading more than 1m dhs worth today, and that was just 1% to 5.00.

Abu Dhabi Securities Market

The ADSM index rose a mere 0.15 points to 3436.81, an increase of less than 0.005%. Traded value was a 334m dhs with 16 stocks rising, 17 falling, adn 5 unchanged.

Aldar Properties PJSC (ALDAR) topped the turnover list with a rise of 1.8% to 6.94 from AED 164m dhs worth of trading. Other stocks trading reasonable volumes rose by less than 1% except for Commercial Bank International (CBI) which was up 1.3% to 2.33. Emirates Telecommunications Company (ETISALAT) was up by 0.3% to 17.45.

Notable falls for AGTHIA down by 2.1% to 1.87, and ARKAN down by 1.7% to 1.72. Other falls on very low volumes or less than 1%.

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