UAE markets 10 Oct 2007

UAE market news & discussions for 10 October 2007 Another strong day on UAE markets with both indicies finishing in positive territory on strong turnover. The DFM closed above the 4500 level up 16.1% from January 2007. Analysts are tipping strong corporate profits and further gains in 2008. GULFNAV topped trading rising 3.05% to 1.35 dirhams on turnover of 239 million shares traded. On the ADSM, ARKAN topped trading rising 4.40% to 1.90 dirhams on turnover of 214 million shares. OILC rose 8.00% to 2.16 dirhams with 104 million shares traded. NBQ released 2007 M9 profits +246% to 232 million dirhams from 2006 M9. In other business news Shanghai was sold by Nakeel fo 28 million dollars to a Chinese investor. So far 40% of the 300 Islands comprising the world have been sold. The IMF confirmed growth in the UAE would remain strong in 2007 but moderate in 2008. Inflation was a concern but the dollar/dirham peg had served its purpose well.

• FH 2007 M9 profit AED 111m -48%, Q3 AED 31m +255% - 10 Oct 2007
• NBQ 2007 M9 profit AED 232m +247% Q3 AED 60m +21% - 10 Oct 2007
• JULPHAR pharmacies - new JV for MENA region - ADSM 10 Oct 2007
• EBI-NBD Emirates NBD share swap terms and timetable - 31 Jul 2007
• 10 Oct 2007 shares and financial news for DFM and ADSM
• ALDAR to develop 2 ACCOR hotels on Yas Island - PR 10 Oct 2007
• Dubai World JAFZA land buy in South Carolina - 03 Oct 2007
• ESCA to introduce derivatives & new laws in 2008 - GN 10 Oct 2007
• Stockmarket crosslisting agreements and MoUs
• DFSA signs MOU with China - PR 24 Sep 2007
• Jazeera 100% rights issue PR 09 Oct 2007
• DIB bogus share trades - all 6 acquitted - 09 Oct 2007
• Stock Picks for October
• 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
• 09 October 2007 Dubai and Abu Dhabi shares and business news
• 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

More UAE stock market news and discussions...

best stock rises symbol price change OEIHC 23.10 +2.10 +10% NCTH 4.52 +0.41 +10% OILC 2.16 +0.16 +8% ASMAK 5.94 +0.39 +7% ADSB 3.76 +0.21 +5.9%

worst stock falls symbol price change IFA 9.50 -1.50 -13.6% RAKCEC 5.51 -0.46 -7.7% QCEM 3.05 -0.23 -7% GLOBAL 11.00 -0.75 -6.4% FOODCO 4.00 -0.09 -2.2%

top volume symbol value (AED) price ARKAN 408,565,296 1.90 EMAAR 360,382,834 11.50 GULFNAV 326,645,611 1.35 ALDAR 321,547,657 9.08 DFM 281,399,391 3.69

Dubai Financial Market

the DFM index closed at 4,504 today an increase of 0.59% from the previous close. 671 million shares traded worth 1.8 billion dirhams. Sixteen shares advanced and six declined.
GULFNAV topped trading rising 3.05% to 1.35 dirhams on turnover of 239 million shares traded.

Other shares to rise included: Amlak Finance Company (AMLAK) 3.40 (0.89%), DEYAAR 1.92 (0.52%), DFM 3.69 (0.54%), Dubai Investments PJSC (DIC) 4.65 (0.86%) and Emaar Properties PJSC (EMAAR) 11.50 (0.43%).
AIRARABIA saw turnover of 96 million shares but finished unchanged on 1.54 dirhams.

Shares to fall included: Emirates Integrated Telecommunications Company (DU) 4.81 (0.82%) and Tamweel PJSC (TAMWEEL) 4.57 (0.43%) on modst volumes.

Abu Dhabi Securities Market

The ADSM index closed at 3,772 today an increase of 1.0% from the previous close. 578 million shares traded worth 1.5 billion dirhams. Twenty nine shares advanced and eleven declined.
ARKAN topped trading rising 4.40% to 1.90 dirhams on turnover of 214 million shares traded.

Other shares to rise included: Dana Gas PJSC (DANA) 1.71 (1.79%), Oasis International Leasing Company PJSC (OILC) 2.16 (8.0%), Ras Al Khaimah Properties PJSC (RAKPROP) 1.80 (2.86%) and Abu Dhabi National Energy Company (TAQA) 3.01 (3.08%).

Shares to fall included: Aldar Properties PJSC (ALDAR) 9.08 (0.77%), SIB 3.01 (0.66%) and Union National Bank (UNB) 8.02 (0.12%).

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