UAE markets 09 Oct 2007

UAE market news & discussions for 09 October 2007 A bullish day on UAE markets with the DFM and ADSM indicies rising by 1% on strong volumes. DFM and AIRARABIA topped trading on the DFM with both shares rising strongly. ARKAN and OILC topped trading on the ADSM both rising more than 5% on the day. In other market news the DIB share manipulation case from August 2005 ended in a whimper with all the accused acquitted on appeal. Commentators blamed the result on inadequate laws that do take into account transactions based on an electronic trading platform. In some ways the result should not be a surprise as share manipulation cases on electronic trading platforms are extremely difficult to prove even in more mature markets. Most are settled by regulators out of court. Borse Dubai and QATAR continue to compete to pay more for OMX.

• 09 October 2007 Dubai and Abu Dhabi shares and business news
• Deyaar joins DFMGI, EBI & NBD delisted - PR 09 Oct 2007
• Abu Dhabi property shortage until 2010 says TNI report - PR 09 Oct 2007
• DANA - AED 3.2 bn Convertible Sukuk placed PR 07 Oct 2007
• Borse Dubai will respond to competing bids for OMX - BB 08 Oct 2007
• ARKAN MOU with M-Tec for Dry Mix Mortar plant in Al Ain - 09 Oct 2007
• ARKAN industrial park in Al Ain Master Plan consultants appointed 08 Oct 07
• Hikma Block Listing of Shares - PR 08 Oct 2007
• HIK Hikma bid for Arab Pharmaceutical Manufacturing - 07 Oct 2007
• GLOBAL 2007 Q3 results - BOD meeting 10 Oct 2007
• SALAM 2007 Q3 results - BOD meeting 25 Oct 2007
• NBAD SMS text message money transfer - PR 06 Oct 2007
• DIB bogus share trades - all 6 acquitted - 09 Oct 2007
• DP World signs AED 2.6 bn Dakar Port deal in Senegal - R 08 Oct 2007
• DP World may bid for Sokhna Port in Egypt - BB 04 Oct 2007
• Dubai World offer for MGM see little interest - 08 Oct 2007
• Kang Pacific launch delay? ET 09 Oct 2007
• Stock Picks for October
• 08 Oct 2007 UAE Dubai, Abu Dhabi business news
• EBI NBD shares suspended from trading PR 08 Oct 2007
• Al Mazaya Property Index
• MAZAYA - Property Index at Cityscape 2007 - 07 Oct 2007
• EMAAR MGF plans to spin off projects as REITs - FT 07 Oct 2007
• Manasek buys Al Firdous Hotel Group
• Manasek capital increase ZDJ 08 May 2007

More UAE stock market news and discussions...

best stock rises symbol price change ABNIC 7.57 +0.68 +9.9% NMDC 5.83 +0.43 +8% INVESTB 3.68 +0.25 +7.3% ADSB 3.55 +0.24 +7.3% ADNH 7.10 +0.48 +7.3%

worst stock falls symbol price change WARE 17.10 -2.90 -14.5% AEIBANK 1350.00 -60.00 -4.3% NCC 9.55 -0.25 -2.6% ARIG 3.55 -0.05 -1.4% CBD 8.45 -0.10 -1.2%

top volume symbol value (AED) price OILC 414,553,192 2.00 EMAAR 312,202,241 11.45 ARKAN 311,851,998 1.82 DFM 311,716,782 3.67 ALDAR 255,597,226 9.15

Dubai Financial Market

The DFM index finished at 4,477 today a rise of 0.99% from the previous close. 363 million shares traded worth 1.2 billion dirhams. Sixteen shares advanced and seven declined.
AIRARABIA 1.54 and DFM 3.67 topped trading finishing up 1.31% and 3.67% respectively with 85 million shares trading for both shares.

Other shares to rise included: Emaar Properties PJSC (EMAAR) 11.45 (2.23%) and GULFNAV 1.31 (0.76%).
DEYAAR was also heavily traded finishing steady on 1.91 dirhams with 74 million shares traded.

Shares to fall included: ARABTEC 6.52 (0.45%) and Commercial Bank of Dubai (CBD) 8.45 (1.16%) on small volumes.

Abu Dhabi Securities Market

The ADSM index finished at 3,734 today a rise of 1.10% from the previous close. 609 million shares traded worth 1.5 billion dirhams. Thirty six shares advanced and four declined.
The top traded share was Oasis International Leasing Company PJSC (OILC) rising 5.26% to 2.00 dirhams on 207 million shares traded.
ARKAN was also heavily traded rising 5.20% to 1.82 dirhams on 171 million shares traded.

Other shares to rise included: Aldar Properties PJSC (ALDAR) 9.10 (1.55%), Dana Gas PJSC (DANA) 1.68 (1.82%) and Ras Al Khaimah Properties PJSC (RAKPROP) 1.75 (2.94%).

Shares to fall included: Bank Of Sharjah (BOS) 3.15 (0.32%), Commercial Bank International (CBI) 2.78 (0.71%) and Emirates Telecommunications Company (ETISALAT) 18.75 (0.27%) all on modest volume.

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