UAE markets 20 Sep 2007

UAE market news & discussions for 20 September 2007 The markets went in opposite directions today with ADSM up on solid volume, and DFM down on moderate volume. Aldar properties had a small rise with a 75% share of the turnover on ADSM. Curiously, trading in Al Madina Finance shares was temporarily suspended pending an announcement of a deal to invest 300m dh in Africa's HITS Telecom. Borse Dubai and Nasdaq announced a tie up which would mean Borse Dubai buys a stake in Sweden's OMX, Nasdaq would get the shares, Borse Dubai would end up with a stake in Nasdaq and the London Stock Exchange (LSE), and the DIFX would be rebranded with the Nasdaq name. The Swedish Government said the deal was "interesting" and would review it. The Qatar Investment Authority weighed in and urged OMX shareholders not to take up the Nasdaq-Borse Dubai deal, possibly indicating that the QIA would be making an offer themselves. They also said they'd already bought 20% of the LSE.

• 20 Sep 2007 UAE business & financial news
• AIRARABIA - Deutsche Bank report FV 1.70 dhs [BUY] - 18 Sep 2007
• ALMADINA trading suspended, AED 290 deal with HITS Telco 19 Sep 07
• Borse Dubai & Nasdaq to merge for OMX bid - R 20 Sep 2007
• DFM & ESCA seminar 'Tools for Financial Analysis' - PR 17 Sep 07
• Emaar Cancels Land-for-Shares Swap With Dubai Holding - 25 Aug 2007
• ETISALAT - Mobily buys Bayanat Al Oula for AED 1.5 bn R 19 Sep 07
• MAZAYA subsidiary sells property in Jebel Ali (Arabic) - DFM 20 Sep 2007
• 19 Sep 2007 Dubai, Abu Dhabi, UAE financial news

More UAE stock market news and discussions...

best stock rises symbol price change MAZAYA 8.75 +0.99 +12.8% ASMAK 5.95 +0.22 +3.8% NMDC 5.42 +0.17 +3.2% UNB 7.05 +0.22 +3.2% ARIG 3.50 +0.10 +2.9%

worst stock falls symbol price change IFA 12.00 -1.75 -12.7% TKFL 3.92 -0.21 -5.1% CBD 8.25 -0.35 -4.1% FCI 4.35 -0.10 -2.2% QCEM 2.76 -0.06 -2.1%

top volume symbol value (AED) price ALDAR 374,396,624 7.09 EMAAR 219,283,860 10.85 DEYAAR 207,443,659 1.86 AIRARABIA 150,035,861 1.25 DFM 112,557,864 3.13

Dubai Financial Market

The DFMGI fell by 0.56% to 4220 points on turnover of AED 862m. The top three traded stocks by value were Emaar Properties PJSC (EMAAR), down by 0.5% to 10.85, DEYAAR down by 1.6% to 1.86, and AIRARABIA down by 0.8% to 1.25.

Only 5 stocks rose in price and only Arabtec Holding PJSC (ARTC), up by 1.7% to 6.00, saw any reasonable turnover.

Tamweel PJSC (TAMWEEL) and Union Properties PJSC (UPP) fell by 1.3%, Emirates Integrated Telecommunications Company (DU), Amlak Finance Company (AMLAK), and DFM fell by 1% and the remainder fell by less than 1% or on minimal turnover.

Abu Dhabi Securities Market

A good day for the ADSM with a rise of 0.46% to 3459 points and turnover of AED 500m. Aldar Properties PJSC (ALDAR) dominated trading with AED 374m of turnover and a 1.9% rise to 7.10. Sorouh Real Estate (SOROUH) was next in line on turnover but with just AED 31m of trading and a 0.9% rise to 4.46.

Other decent rises on turnover of more than AED 1m for Invest Bank (INVESTB) up 1.9% and Abu Dhabi National Company for Building Materials (BILDCO) up 1.6%. Remaining increases were less than 1% or on turnover of less than AED 1m. Emirates Telecommunications Company (ETISALAT) was up by 0.3% to 17.50.

Only 8 stocks fell with the top 4 on less than AED 1m turnover. Other falls were First Gulf Bank (FGB) down by 0.7%, ARKAN 0.6% and Gulf Cement Company (GCEM) 0.5%.

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