UAE markets 08 Oct 2007

UAE market news & discussions for 08 October 2007 It probably wasn't surprising that after such a good day yesterday, both the DFM and ADSM pulled back today. Dubai Islamic Insurance (AMAN) and Umm Al Quwain Cement (QCEM) stood out with close to 10% increases on active trading. EMAAR MGF in India were reported to be planning to spin off many of their developments as Real Estate Investment Trusts (REITs). Dana Gas released the terms of their Convertible Sukuk. Amlak's denial yesterday was to do with a report that they may be merging with Dubai Bank.

• 08 Oct 2007 UAE Dubai, Abu Dhabi business news
• AMLAK - denies press release in newspaper 07 Oct 2007
• DANA - AED 3.2 bn Convertible Sukuk placed PR 07 Oct 2007
• EBI NBD shares suspended from trading PR 08 Oct 2007
• EMAAR MGF plans to spin off projects as REITs - FT 07 Oct 2007
• MAZAYA - Property Index at Cityscape 2007 - 07 Oct 2007
• Stock Picks for October
• 07 Oct 2007 financial and business news for the UAE

More UAE stock market news and discussions...

best stock rises symbol price change UAB 7.19 +0.63 +9.6% AMAN 26.25 +2.25 +9.4% FBICO 1.95 +0.16 +8.9% QCEM 3.13 +0.24 +8.3% TKFL 4.27 +0.17 +4.1%

worst stock falls symbol price change OEIHC 21.00 -2.00 -8.7% DHAFRA 4.62 -0.38 -7.6% ADSB 3.31 -0.12 -3.5% AKIC 1.60 -0.05 -3% CBD 8.55 -0.20 -2.3%

top volume symbol value (AED) price DEYAAR 364,950,238 1.91 DFM 257,619,412 3.54 ALDAR 234,710,854 9.01 AIRARABIA 209,824,679 1.52 EMAAR 204,702,638 11.20

Dubai Financial Market

DFM volumes were down substantially from yesterday, to a still solid 1.5 billion dhs and a 0.9% fall in the index to 4434 with only 2 stock showing gains on active trading. AMAN was up a splendid 9.4% to 26.25 and ALMADINA up just 0.5% to 10.45.

DEYAAR had the highest traded value today with a 1.5% fall to 1.91 from AED 365m worth. DFM fell 0.8% to 3.54 and AIRARABIA lost 1.9% to 1.52. Emaar Properties PJSC (EMAAR) pulled back 0.9% to 11.20 on moderate trading. GULFNAV suffered the worst fall on active trading, down 2.3% to 1.30.

Abu Dhabi Securities Market

The ADSM index had a marginal fall of 0.06% to 3694 on turnover of 627m dhs, with Aldar Properties PJSC (ALDAR) dominating trading on a fall of 0.3% to 9.03.

QCEM had a good day with limit up trading at 3.17, AED 10m dhs worth of deals, and no sellers in the queue. Other good rises for Union National Bank (UNB) up 2.7% to 7.50, Abu Dhabi Islamic Bank (ADIB) up 2.5% to 55.30, and Oasis International Leasing Company PJSC (OILC) up 1.6% to 1.89.

Out of stocks trading more than 1m dhs worth today, Abu Dhabi Commercial Bank (ADCB) saw the worst fall, down by 1.75% to 6.76. ADAVIATION and ARKAN were down by 1.7%, AGTHIA fell 1.6%, National Bank of Abu Dhabi (NBAD) lost 1.55% on busy trading, and Sudan Telecom Company Ltd (SUDATEL) fell 1.5%. Emirates Telecommunications Company (ETISALAT) closed unchanged at 18.80.

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