UAE markets 17 Sep 2007

UAE market news & discussions for 17 September 2007 Both UAE markets closed higher today on subdued trading volume. There is speculation that Deyaar would allow foreign ownership of their shares from next year, which would seem to contradict what the CEO said back in April. Iran's new oil minister said the same thing as the old oil minister about the price of gas that Crescent Petroleum (a Dana Gas affiliate) has contracted to buy, but didn't say if Iran had finished building their end of the pipe yet. DU Telecom said they had clocked up 850,000 subscriptions which appears to be a greater than 10% market share. MashreqBank (or Mashreq as it's now known) are reported to be investigating the purchase of a stake in Egypt's Banque du Caire.

• DEYAAR foreign ownership from 2008?
• 17 Sep 2007 financial and business news for the UAE
• NBAD convertible bonds interest rate 2007 Q4 - 16 Sep 2007
• EMAAR Ramadan tent at Downtown Burj Dubai - PR 16 Sep 2007
• CBD launches Ramadan promotion - RP 16 Sep 2007
• NBD opens third branch in Abu Dhabi - PR 16 Sep 2007
• DU has more than 10% market share in UAE - GN 17 Sep 2007
• ETISALAT - Atlantique Telecom's Moov restarts in Benin R 07 Sep 07
• DANA - gas price for Crescent too low says Iran - R 16 Sep 2007
• MASQ bidding for Banque du Caire Egypt - R 16 Sep 2007
• 16 Sep 2007 Dubai, Abu Dhabi, UAE financial news
• IAIC Salama 10% share buyback - BOD decision 07 Feb 2007
• Emirates NBD offer closing soon - PR 13 Sep 2007
• ADSM net foreign investment Dh2.8 bn so far in 2007 - ET 16 Sep 2007
• UPP to borrow AED 4 bn - CEO interview with ET 16 Sep 2007
• DFM net foreign investment AED 98m Sep week 2 - PR 15 Sep 2007
• DFSA signs MoU with Greek market regulator - PR 15 Sep 2007
• DFM/ADSM Online
• DFM [BUY] FV 4.23 says Deutsche Bank report? - 12 Sep 2007
• DFM 2007 FY profit forecast AED 820-1200m
• DGCX Steel Futures will benefit everyone in industry - PR 12 Sep 2007
• 15 Sep 2007 financial and business news for the UAE
• OMX cleared of stalling Borse Dubai bid - R 14 Sep 2007
• Borse Dubai IPO
• 14 Sep 2007 financial and business news for the UAE

More UAE stock market news and discussions...

best stock rises symbol price change GRAND 4.40 +0.57 +14.9% ABNIC 8.47 +0.77 +10% ASMAK 5.73 +0.52 +10% UNION 1.95 +0.15 +8.3% ADNIC 8.50 +0.45 +5.6%

worst stock falls symbol price change INVESTB 3.06 -0.13 -4.1% FH 6.71 -0.28 -4% NBS 2.93 -0.06 -2% RAKBANK 7.20 -0.14 -1.9% NBAD 18.65 -0.35 -1.8%

top volume symbol value (AED) price EMAAR 194,027,087 10.55 DEYAAR 158,044,881 1.82 DFM 47,772,907 3.10 ALDAR 30,523,093 6.83 DIC 26,618,251 4.41

Dubai Financial Market

The DFM index closed at 4,175 a rise of 0.31% from the previous close. 164 million shares traded worth 517 million dirhams. Fifteen shares advanced and four declined.
The top traded share was DEYAAR rising 1.67% to 1.82 dirhams on turnover of 87 million shares.

Other shares to rise included: DFM 3.10 (0.97%), Dubai Investments PJSC (DIC) 4.41 (0.68%) and Emaar Properties PJSC (EMAAR) 10.55 (0.47%).

Shares to fall included Amlak Finance Company (AMLAK) 3.13 (0.31%), Islamic Arab Insurance Company PSC (IAIC) 3.10 (0.32%), ARAMEX 2.53 (0.39%).

Abu Dhabi Securities Market

The ADSM index closed at 3,417 a rise of 0.09% from the previous close. 29 million shares traded worth 141 million dirhams. Sixteen shares advanced and eighteen declined.
The top traded share was Aldar Properties PJSC (ALDAR) rising 0.15% to 6.83 dirhams on turnover of 4.4 million shares.

Other shares to rise included: First Gulf Bank (FGB) 13.95 (0.72%), Oasis International Leasing Company PJSC (OILC) 1.71 (0.59%), Sorouh Real Estate (SOROUH) 4.38 (0.46%).

Shares to fall inlcluded: Abu Dhabi Commercial Bank (ADCB) 6.12 (0.65%), Dana Gas PJSC (DANA) 1.57 (0.63%), Ras Al Khaimah Properties PJSC (RAKPROP) 1.56 (0.64%), Ras Al Khaimah Cement Company (RAKCC) 2.04 (0.97%) and NBS 2.93 (2.01%)

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