UAE markets 24 Sep 2007

UAE market news & discussions for 24 September 2007 Both the DFM and ADSM rose today with Aldar again trading heavily on a 2% increase. Commercial Bank International saw a solid rise on unusually active turnover. Air Arabia dominated trading on DFM and had a decent 2.4% rise. Arabtec also had a good day with 3% increase. Borse Dubai and Nasdaq were reported to be seeking an alliance with the London Stock Exchange (LSE) while Qatar was reported to have increased its stake in the LSE to 24%. Halliburton were reported to be interested in buying stakes in Gulf energy companies. With AED 300 billion to spend, they could buy Aabar Petroleum, Dana Gas, Gulf Petroleum Investments, Taqa, and still have enough left over to buy Mr Barker-Homek a new suit. The DGCX was reported to be ready to launch a Pulses Futures contract by the end of 2007 or early 2008.

• 24 Sep 2007 UAE Dubai, Abu Dhabi business news
• Borse Dubai Nasdaq alliance with LSE, QIA ups stake - TF 23 Sep 2007
• DGCX to launch pulses futures contract by 2008 - R 24 Sep 2007
• Halliburton seeking stakes in Gulf oil companies - R 24 Sep 2007
• UAB - CommercialBank of Qatar purchase of UAB stake ok - 23 Sep 2007
• FH 2007 profit H1 AED 80m -61%, Q2 AED 39m +1000% from 2006 - updated analysis
• UAB 2007 Q3 profit - better than Q2 says CEO R 13 Sep 2007 - updated
• UAB 2007 profit Q2 AED 49m +53%, H1 AED 95m +40% from 2006 - updated analysis
• 23 Sep 2007 UAE business & financial news

More UAE stock market news and discussions...

best stock rises symbol price change NBF 4.45 +0.40 +9.9% RAPCO 3.38 +0.28 +9% CBI 2.49 +0.12 +5.1% INVESTB 3.24 +0.14 +4.5% ARTC 6.19 +0.19 +3.2%

worst stock falls symbol price change OEIHC 19.15 -0.85 -4.3% UNION 1.83 -0.08 -4.2% GFH 8.25 -0.35 -4.1% NMDC 5.20 -0.22 -4.1% FH 6.65 -0.25 -3.6%

top volume symbol value (AED) price AIRARABIA 363,345,495 1.28 ALDAR 173,510,082 7.39 DEYAAR 84,138,330 1.86 EMAAR 77,829,670 10.75 ARTC 66,637,079 6.19

Dubai Financial Market

The DFM index rose 0.25% to 4231 on average turnover of AED 855m with AIRARABIA responsible for close to half of that at AED 363m dhs worth and a 2.4% rise to 1.28.

Arabtec Holding PJSC (ARTC) was the best of the winners, not counting the single small trade for GPI, and rose 3.2% to 6.19. Other rises for Tamweel PJSC (TAMWEEL) up 2.3%; and GULFNAV, Union Properties PJSC (UPP), Aramex PJSC (ARMX) all up 1.6% on moderate turnover.

There were six losers, and apart from GFH which only had 2 small trades, were all down by less than 1%. Emaar Properties PJSC (EMAAR) fell 0.5% to 10.75 on low turnover of AED 78m.

Abu Dhabi Securities Market

The ADSM rose 0.5% to 3476 points from modest turnover of AED 313m, with a little over half of that from trading in Aldar Properties PJSC (ALDAR) which rose 2.2% to 7.42 dhs per share.

Commercial Bank International (CBI) rose 5.1% to 2.52 with turnover relatively high at 7m dhs. Abu Dhabi National Energy Company (TAQA), Dana Gas PJSC (DANA), Ras Al Khaimah Properties PJSC (RAKPROP), Emirates Telecommunications Company (ETISALAT), and AGTHIA all rose less than 1% on modest trading volumes.

The top losers were on turnover of less than 1m dhs each. ARKAN was the most actively traded stock to fall, dropping by just 0.6% to 1.68.

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