UAE markets 05 Sep 2007

UAE market news & discussions for 05 September 2007 Deyaar Development floated today and activity was impressive, with total turnover an astounding AED 3.3 billion worth, almost 90% of the total for DFM. Volume was a massive 1.7 billion shares. Share price closed at 1.91 which was roughly in line with what DubaiShareTalk forumers had estimated. Emaar's boss, Mr Al Abbar was reported to be looking for investment opportunities in the unlikely neighbourhood of North Korea. Does he know something the rest of the world doesn't? Emaar's Indian JV was reported to be making steps towards the expected IPO. And continuing in the theme of investments in interesting countries, First Gulf Bank announced a JV to set up a bank in Libya. In the light of that news, it seems an appropriate day for news of an economic freedom survey just released, with the UAE at number 14 out of 141 countries. Libya and North Korea were not in the top 10. Sorouh shares were rated as undervalued by an HSBC report just released. Aldar Properties handed out a 2.7 billion dhs contract in Abu Dhabi's Central Market to the Arabian Construction Company. An EFG Hermes report was neutral on some UAE banks and but rated FGB, Emirates NBD, CBD and ADIB as undervalued. Oasis Leasing's revolving doors continue to spin with more new management personnel announced today. Commercial Bank of Dubai joined the growing list of banks to announce escrow agreements with the Dubai Land Department this week.

• Where is the end for this down trend?
• ARMX releases 2006 Corporate Sustainability Report - PR 04 Sep 2007
• EFG-Hermes report on UAE bank stocks, some [BUY] ratings 05 Sep 2007
• Deyaar to list on 05 Sep 2007 - what price? Add your vote...
• Expats cant buy Deyaar..Is it True?
• 05 Sep 2007 Dubai, Abu Dhabi, UAE financial news
• NBD opens 2nd branch in Abu Dhabi & NBD Securities office PR 04 Sep 07
• EMAAR - Claren Towers at Downtown Burj Dubai - PR 04 Sep 2007
• EBI and Internet City launch PayPass Mastercard - PR 04 Sep 2007
• SOROUH - report from HSBC says [OVERWEIGHT] - PR 04 Sep 2007
• CBD escrow agreement with Dubai Land Department - PR 04 Sep 07
• EMAAR - Al Abbar visits North Korea for investment opportunites 05 Sep 07
• NRE - AGM 04 Sep 07 to elect new BOD after resignations - 14 Aug 07
• Leighton takes 45 per cent stake in Al Habtoor
• FGB to set up AED 1.5 bn JV Gulf-Libyan Bank in Libya - 05 Sep 07
• OILC announces new senior management positions - 05 Sep 2007
• EMAAR MGF IPO
• UAE - 15th out of 141 countries for economic freedom - R 04 Sep 2007
• DEYAAR international & local developments - GN 05 Sep 2007
• ALDAR gives AED 2.7 bn Central Market contact to ACC - PR 04 Sep 2007
• GULFNAV 2007 H1 profit AED 48m, 2007 Q2 profit AED 24m
• AMAN 2007 H1 profit AED 14m +160%, 2007 Q2 profit AED 10m +137%
• AMAN rights issue 2006 - from 69m to 200m shares
• IIG to set up $1 bn bank in Sudan - R 06 Jul 2007
• SUDATEL - Chinguitel 3G goes live in Mauritania - 23 Aug 2007

More UAE stock market news and discussions...

best stock rises symbol price change DEYAAR 1.91 +0.91 +91% AWNIC 4.32 +0.32 +8% BOS 2.98 +0.11 +3.8% JULPHAR 2.00 +0.07 +3.6% NBF 3.51 +0.11 +3.2%

worst stock falls symbol price change ADNIC 8.28 -0.90 -9.8% ABNIC 7.70 -0.30 -3.8% ARIG 3.36 -0.11 -3.2% ETISALAT 17.70 -0.35 -1.9% ADIB 53.10 -1.05 -1.9%

top volume symbol value (AED) price DEYAAR 3,299,910,178 1.91 EMAAR 166,176,524 10.90 ALDAR 91,753,081 6.97 DFM 78,079,121 3.12 AIRARABIA 43,124,838 1.22

Dubai Financial Market

An extremly volatile days trading on the DFM today. The index closed at 4,265 a decline of just 0.14% from the previous close. 1.8 billion shares traded worth 3.7 billion dirhams. Seven shares advanced and six declined.
The new share DEYAAR represented approx 90% of all shares traded on the DFM closing at 1.91 dirhams a rise of 91 Fils from its issue price and with turnover of 1.7 billion shares traded.

Other shares to rise included: AIRARABIA 1.22 (0.82%), Islamic Arab Insurance Company PSC (IAIC) 3.18 (1.27%) and Arabtec Holding PJSC (ARTC) 5.90 (0.16%)

Shares to decline included: Amlak Finance Company (AMLAK) 3.16 (0.31%), National General Cooling Company PJSC (TABREED) 2.45 (1.60%) and Dubai Investments PJSC (DIC) 4.43 (0.44%).

Shares that remained steady included: DFM 3.12, Emaar Properties PJSC (EMAAR) 10.90 and GULFNAV 1.27 on reasonable volume traded.

Abu Dhabi Securities Market

The ADSM index closed at 3, 435 a fall of 0.76% on a subdued days trading. 67 million shares traded worth 251 million dirhams. Fifteen shares advanced and eighteen declined.
The top traded share was Aldar Properties PJSC (ALDAR) rising 0.43% to 6.97 dirhams on turnover of 13 million shares traded.

Other shares to rise included: Bank Of Sharjah (BOS) 2.98 (3.83%) and Gulf Cement Company (GCEM) 6.43 (1.26%).

Shares to fall included: ARKAN 1.71 (1.16%), Dana Gas PJSC (DANA) 1.63 (1.21%), Ras Al Khaimah Properties PJSC (RAKPROP) 1.61 (1.23%) and Sorouh Real Estate (SOROUH) 4.47 (0.22%).

Oasis International Leasing Company PJSC (OILC) finished steady on 1.71 dirhams with 11.5 million shares traded.

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