UAE markets 03 Oct 2007

UAE market news & discussions for 03 October 2007 Both UAE stock markets paused for breath today with a slight rise on still decent turnover. Aldar Properties average price today was up on yesterday's close but final trades were substantially down after they issued a denial of having any information that might affect the share price. Did they forget about the Warner Bros news last week? Amlak Finance released third quarter profit figures, beating the forecast from Shuaa but indicating there may be some extra gains from extraordinary income, as was the case in the second quarter. Nevertheless, their shares are beginning to look as though they are priced more reasonably now. Emaar announced a massive AED 73 billion development of 4 projects in Algeria, which sounded much the same as the AED 73 bn worth of Emaar projects in Algeria described in August last year. The GCC monetary union scheduled for 2010, will not be happening before 2015 and maybe not even then, according to comments from the UAE Central Bank governor.

• 03 Oct 2007 financial and business news for the UAE
• Aldar shares unstoppable? 01 Oct 2007
• ALDAR denies knowing why share price up - ADSM 03 Oct 2007
• ALDAR 2007 Q3 profit forecast, results due 31 Oct 2007
• AMLAK 2007 Q3 profits AED67m +94% beats forecast - 03 Oct 2007
• ARTC 2007 Q3 profit forecast +43% to AED 65.5m
• CBI BOD meeting 10 Oct 2007 - 2007 Q3 results?
• DIB 2007 Q3 profit forecast +40% to AED 433m
• DIB report from Shuaa [BUY] FV 10.58 - 02 October 2007
• EBI-NBD Emirates NBD share swap terms and timetable - 31 Jul 2007
• EMAAR AED 73 bn Algerian projects including Sidi Abdellah? - R 02 Oct 07
• EMAAR 2007 Q3 profit forecast +10% or less, due 30 Oct 2007
• No monetary union before 2015 for GCC - R 02 Oct 2007
• Online brokers must obtain license from ESCA - WAM 02 Oct 2007
• Qatar bid for OMX - R 03 Oct 2007
• SALAM BOD meeting 25 Sep 2007 - Investments & Bounian shares
• UAE stocks included in Goldman Sachs 'best buy ideas' - BB 02 Oct 2007
• UPP 2007 Q3 profit forecast AED 162m +115%, due 01 Nov 2007
• 2007 Q3 results & forecasts
• 02 October 2007 UAE stocks and business news

More UAE stock market news and discussions...

best stock rises symbol price change GRAND 4.60 +0.30 +7% UNB 7.16 +0.30 +4.4% INVESTB 3.49 +0.14 +4.2% ARIG 3.60 +0.14 +4% TAMWEEL 4.38 +0.17 +4%

worst stock falls symbol price change EIC 8.00 -0.62 -7.2% ADSB 3.38 -0.22 -6.1% UNION 2.06 -0.11 -5.1% RAKPROP 1.65 -0.04 -2.4% DANA 1.65 -0.04 -2.4%

top volume symbol value (AED) price ALDAR 545,681,691 8.74 DFM 290,841,122 3.29 DEYAAR 286,061,662 1.88 EMAAR 258,816,735 10.75 AIRARABIA 242,381,810 1.39

Dubai Financial Market

The DFMGI headed up by 0.4% to close at 4305 with busy turnover of 1.65 billion dhs. Emaar Properties PJSC (EMAAR), AIRARABIA, DFM and DEYAAR made up the bulf of that with AED 250-300m dhs of trading in each share but small gains of less than 1%, except for Deyaar which closed unchanged.

Tamweel PJSC (TAMWEEL) and National General Cooling Company PJSC (TABREED) stood out with solid gains of 4% to 4.38 and 3.5% to 2.68 respectively. Emirates Integrated Telecommunications Company (DU) rose 1.1%, Aramex PJSC (ARMX) up 0.8%, and AMAN up just 0.2% finished of the list of gainers on turnover greater than AED 1m.

Only 6 stocks fell with only 2 suffering a loss of more than 1%. Amlak Finance Company (AMLAK) fell 1.5% to 3.26 and Islamic Arab Insurance Company PSC (IAIC) also down by 1.5%, to 3.27.

Abu Dhabi Securities Market

The ADSM index had a small rise of 0.11% to 3660 from robust turnover of 1.0 billion dhs. Half of that from trading in Aldar Properties PJSC (ALDAR) which saw last trades going through at 8.35, down 4.1% from yesterday's close of 8.71. But average traded price was up slightly by 0.3% to 8.74. Sorouh Real Estate (SOROUH) was also busy with AED 160m of turnover and a 2.2% fall.

Good rises for Union National Bank (UNB) up 4.4% to 7.15, Invest Bank (INVESTB) up 4.2% to 3.50, and Abu Dhabi Commercial Bank (ADCB) up 2.7% to 6.81 putting banks in the top three spots on ADSM today. First Gulf Bank (FGB) saw busy trading but rose by less than 1% to 15.55. Emirates Telecommunications Company (ETISALAT) closed flat at 18.50.

Dana Gas PJSC (DANA) and Ras Al Khaimah Properties PJSC (RAKPROP) both fell 2.4%, Abu Dhabi National Energy Company (TAQA) was down 1.7% and a handful of others on lower volumes fell about 1% or less. The top three losers saw only 2 trades each.

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