UAE markets 07 Oct 2007

UAE market news & discussions for 07 October 2007 Both markets started the week on a good note with the DFM especially busy with their own shares and Air Arabia both up more than 6% on heavy trading, while Al Dar Properties was the one to watch in Abu Dhabi today. It was the last day of trading today for Emirates Bank and National Bank of Dubai shares. Shares will be delisted on 15 October 2007 and listing of shares in the merged Emirates NBD bank will start on 16 October 2007. There were statements on the DFM site that Amlak had denied a press release (without further details) and an Al Sagr Insurance subsidiary had been approved to launch an IPO in Saudi. Abyaar Real Estate (based in Kuwait) said they may list on DFM next year. Tabreed announced they'd received three new contracts but didn't disclose a value. Dana Gas said their US$875 Convertible Sukuk had closed. Goldman Sachs released a report giving a BUY rating to Arabtec shares and NEUTRAL ratings to Abu Dhabi Building Materials Company (listed on ADSM) and Aerated Concrete Industries (listed on DFM).

• 07 Oct 2007 financial and business news for the UAE
• Abyaar may list on DFM
• AMLAK - denies press release in newspaper 07 Oct 2007
• AMLAK to sell AED 1 bn bonds in 2007 Q4 - Reuters 04 Oct 2007
• ARTC [BUY] BILDCO ACICO Orascom [NEUTRAL] - Goldman Sachs 07 Oct 07
• ASNIC - Saudi Sagr Insurance IPO
• Borse Dubai possibly bidding for UK's PLUS Markets - R 05 Oct 2007
• DAE Airports CEO Binger resigns after failed NZ bid BB 04 Oct 2007
• DANA - AED 3.2 bn Convertible Sukuk placed PR 07 Oct 2007
• DFM net institutional investment up over 100% last week - PR 06 Oct 07
• DP World IPO worth AED 12.8 billion planned ... again - BB 04 Oct 2007
• Dubai to receive first credit rating this year - R 07 Oct 2007
• Dubai World AED 19 bn loan oversubscribed says R 05 Oct 2007
• EBI-NBD Emirates NBD share swap terms and timetable - 31 Jul 2007
• EMAAR 2007 Q3 profit forecast +10% or less, due 30 Oct 2007
• FGB cash back for credit card petrol purchases - PR 07 Oct 2007
• GFH - Capital Intelligence credit rating up to BBB+ - PR 06 Oct 2007
• MASQ - Cirrus & Badr Al Islami provide DLD trust account - PR 07 Oct 2007
• TABREED wins three contracts for 7600 Tons Refrigeration - PR 07 Oct 2007
• TAQA might bid for Enbridge Income Fund? FP 05 Oct 2007
• Stock Picks for October
• 06 Oct 2007 UAE Dubai, Abu Dhabi business news

More UAE stock market news and discussions...

best stock rises symbol price change QCEM 2.89 +0.19 +7% DFM 3.57 +0.22 +6.6% AIRARABIA 1.55 +0.09 +6.2% FCI 4.65 +0.25 +5.7% UNION 2.10 +0.11 +5.5%

worst stock falls symbol price change ABNIC 6.89 -0.76 -9.9% UAB 6.56 -0.63 -8.8% FH 6.38 -0.40 -5.9% NCTH 4.11 -0.19 -4.4% QTEL 213.40 -8.60 -3.9%

top volume symbol value (AED) price DFM 639,121,625 3.57 DEYAAR 490,463,292 1.94 AIRARABIA 434,080,858 1.55 EMAAR 425,423,233 11.30 ALDAR 377,857,155 9.04

Dubai Financial Market

The Dubai stock market turnover of AED 2.7 bn today was well in excess of anything we've seen recently, hopefully we're seeing the start of a bit of a run. The index closed at 4473, up 2.2% and with only one stock falling in price.

DFM shares were up 6.6% to 3.57 with turnover a resounding 639m dhs. AIRARABIA had a solid 6.2% rise to 1.55 and saw 434m dhs of trading. Emaar Properties PJSC (EMAAR), up 2.7% to 11.30, and DEYAAR, up 1.6% to 1.94, were also heavily traded.

Other rises of note for Aramex PJSC (ARMX) up 4.5%, Islamic Arab Insurance Company PSC (IAIC) up 2.7%, Union Properties PJSC (UPP) up 2.7%, and National General Cooling Company PJSC (TABREED) up 2.6%. AMAN was the only stock to fall, down just 0.2% to 24.00.

Abu Dhabi Securities Market

ADSM was up 1.1% to 3696 and turnover a healthy 837m dhs. Aldar Properties PJSC (ALDAR) yet again dominating trading with 378m dhs of turnover and a 4% rise to 9.09. ARKAN was also busy and rose 2.3% to 1.76.

Other good rises on active turnover for FCI up 5.7% to 4.80, QCEM up 4.3% to 2.96, Union National Bank (UNB) up 3.9% to 7.60, UNION up 3.7%, First Gulf Bank (FGB) up 2.3%, Bank Of Sharjah (BOS) up 2.3%, ADAVIATION up 2.2%, and Sorouh Real Estate (SOROUH) up 1.8%. Emirates Telecommunications Company (ETISALAT) rose 1.4% to 18.95.

National Bank of Abu Dhabi (NBAD) was the only stock with a fall on turnover of more than 1m dhs, losing just 0.26% to close at 19.25. Another 9 stocks fell on limited trading.

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