UAE markets 11 Sep 2007

UAE market news & discussions for 11 September 2007 Both DFM and ADSM finished stronger today, but volumes continue to be subdued. Shuaa were reported to be forecasting similar profits for Q2 as for Q1 this year, and a 15% increase in FY profits for 2007. If forecasts are correct, that makes them look like one of the better share deals currently available, although Shuaa said they had no plans to buy back any more shares. Al Madina Finance had a busy debut finishing up 2.91% at 10.60 dhs with much greater trading volumes than the other newly listed Kuwaiti companies on the DFM this week. Aldar said its Convertible Sukuk terms had not changed (a newspaper reported this morning they had). The Sukuk holders can apply to convert as of yesterday. The Doha Securities Market is following in the footsteps of DFM and ADSM with a trip to London in November to market their stocks to foreigners. Borse Dubai comes under more fire for its bookbuilding in the OMX in Sweden, but says they thought they followed correct procedures. The Omniyat CEO joined the long list of UAE property developers saying there was no bubble in the Dubai property market. In economic news it was reported that the UAE would cut interest rates if the Federal Reserve does next week in the USA.

• ALDAR launches AED 5.5 bn convertible Sukuk - 01 Feb 2007
• AABAR general assembly meeting 19 Aug 2007 - Dalma sale?
• 11 Sep 2007 financial and business news for the UAE
• ALDAR share trading suspended 11 Sep 2007 - why?
• ALDAR convertible sukuk terms changed? No - ADSM 11 Sep 2007
• ALMADINA for Finance & Investment - DFM listing 11 Sep 2007
• Dubai property not in a bubble says Omniyat CEO - AB 11 Sep 2007
• TAIB - 60% stake could be sold to Dubai Financial - R 10 Sep 2007
• EMAAR - lawsuit in Saudi Arabia for SR 4.5 bn - 09 Sep 2007
• AMLAK share buyback
• SHUAA Saudi expansion plans - R 10 Sep 2007
• SHUAA - 2007 Q2 profit may fall - R 10 Sep 2007
• SHUAA 2007 FY profit forecast AED 300m +15% - R 10 Sep 2007
• SHUAA - share buyback approval expires - 02 Aug 2007
• GPI - Gulf Petroleum Investments - DFM listing 10 Sep 2007
• IIG - how many shares outstanding?
• Where is the end for this down trend?
• SHUAA EGM 02 Sep 07 - foreign ownership and AED 1.5 bn bonds
• 09 Sep 2007 Dubai and Abu Dhabi stocks and business news
• UAE GDP up 23.4% to AED 600 bn in 2006 - GN 10 Sep 2007
• 10 Sep 2007 UAE business & financial news
• IIG - International Investment Group - DFM listing on 09 Sep 2007
• DU mobile coverage in the UAE expands - PR 09 Sep 2007
• Velcan Energy IPO
• Emirates to double SriLankan fleet size - R 08 Sep 2007

More UAE stock market news and discussions...

best stock rises symbol price change AWNIC 5.10 +0.36 +7.6% QCEM 2.93 +0.14 +5% NBAD 18.75 +0.90 +5% NMDC 4.73 +0.14 +3.1% RAKCEC 4.60 +0.10 +2.2%

worst stock falls symbol price change FOODCO 3.85 -0.31 -7.5% OIC 8.35 -0.35 -4% ADNIC 8.10 -0.18 -2.2% UNION 1.90 -0.04 -2.1% TKFL 3.85 -0.07 -1.8%

top volume symbol value (AED) price DEYAAR 340,075,366 1.82 EMAAR 175,626,686 10.55 DFM 110,826,857 3.03 ALDAR 80,179,988 6.80 AMLAK 71,461,377 3.15

Dubai Financial Market

The DFM index finished at 4,179 a small rise of 0.13%. 322 million shares traded worth 858 million dirhams. Eight shares advanced and seven declined.
The top traded stock was DEYAAR rising 1.11% to 1.82 dirhams on turnover of 186 million shares traded.

Other stocks to rise included: ALMADINA 10.60 (2.91%), DEYAAR 1.82 (1.11%) and Emaar Properties PJSC (EMAAR) 10.55 (0.47%).

Stocks to fall included: Amlak Finance Company (AMLAK) 3.15 (0.63%), Union Properties PJSC (UPP) 3.16 (0.31%) and ARAMEX 2.58 (0.38%).

AIRARABIA 1.19 and DFM 3.03 both remained unchanged on strong turnover of shares traded.

Abu Dhabi Securities Market

The ADSM index finished at 3,420 a rise of 0.64%. 48 million shares traded worth 199 million dirhams. Twenty shares advanced and twelve shares declined.
The top traded stock Aldar Properties PJSC (ALDAR) after a brief suspension rising 1.34% to 6.80 dirhams on turnover of 11.7 million shares traded.

Other stocks to rise included: ABAR 3.71 (1.64%), Oasis International Leasing Company PJSC (OILC) 1.72 (0.58%), Ras Al Khaimah Properties PJSC (RAKPROP) 1.59 (0.63%) and Sorouh Real Estate (SOROUH) 4.39 (0.69%).

Shares to fall included: ARKAN 1.69 (0.59%), Gulf Pharmaceutical Industries (JULPHAR) 2.01 (1.47%) and Gulf Cement Company (GCEM) 6.45 (1.07%) all on relatively low volume traded.

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