UAE markets 17 Oct 2007

UAE market news & discussions for 17 October 2007 Despite a strong start the DFM index finished the day slightly down at 4,638. In contrast the ADSM index continued its run rising 1.80% to 3,938. After the market closed EMAAR released its results: 2007 Q3 revenue and profits increased by 32% to AED 4.4b and decreased by 3% to AED 1.56b compared to 2006 Q3. 2007 9MQ3 revenue and profits increased by 48% to AED 12.5b and 4% to AED 4.83b compared to 20069MQ3. Overall, higher revenue was offset by higher costs up 107% in 2007 from 2006. However, the rate of growth for costs has slowed to 5% from Q2 2007 to Q3 2007. So choose your headline, either EMAAR profits flat or cost growth rate slows. EMAAR shares finished trading at 11.75 down 1.26% from yesterdays close. ARKAN was the top traded share on the ADSM rising 3.57% to 2.03 dirhams on 184 million shares traded. RAKPROP announced a net profit of AED 302 for 2007 9MQ3 down from AED 376 2006 9MQ3

• EMAAR 2007 Q3 profit forecast +10% or less, due 17 Oct 2007
• 9M - EMAAR grows in investor dissatisfaction not in net profits
• Market Watch
• Recomended broker
• TAQA plans US bond to pay for acquisitions - R 16 Oct 2007
• NBAD rates UAE and Gulf stocks as good buys - R 16 Oct 2007
• ENBD Emirates NBD shares list on DFM - 16 Oct 2007
• SOROUH Al Ghadeer project
• Ratings for ADCB FGB NBAD from HSBC - 16 Oct 2007
• ASMAK EGM 07 Nov 2007
• 17 Oct 2007 financial and business news for the UAE
• CBD 2007 Q3 profit AED 219m +39%, M9 649m +47% beats forecast
• SHUAA foreign ownership limit up to 49% - MOE & I 16 Oct 2007
• NBS 2007 Q3 profit AED 51m -3%, M9 172m +20% - 16 Oct 2007
• ETISALAT 2007 Q3 profit AED 1.80bn +15%, M9 5.53bn +26% 15 Oct 07
• DIB bogus share trades - all 6 acquitted - 09 Oct 2007
• RAKCEC report from EFG Hermes [BUY] 09 Oct 2007
• Any opinion about FransiTadawul?
• TAMWEEL 2007 Q3 profit forecasts AED 55m-61m, BOD meeting 21 Oct 07
• 16 Oct 2007 UAE Dubai, Abu Dhabi business news
• 15 Oct 2007 shares and financial news for DFM and ADSM
• Insider trades ADSM DFM October 2007
• UAB 2007 Q3 profit AED 56m +29%, M9 151m +36% - 10 Oct 2007
• PALTEL 2007 Q3 results - BOD meeting 21 October 2007
• RAKWCT 2007 Q3 results - BOD meeting 18 Oct 2007

More UAE stock market news and discussions...

best stock rises symbol price change ENBD 11.80 +1.15 +10.8% ADSB 3.82 +0.26 +7.3% NBAD 21.90 +1.40 +6.8% ASMAK 5.93 +0.37 +6.7% DFM 4.09 +0.24 +6.2%

worst stock falls symbol price change MAZAYA 9.00 -0.99 -9.9% NMDC 5.73 -0.47 -7.6% NBQ 5.35 -0.37 -6.5% UNION 2.17 -0.09 -4% CBI 2.71 -0.10 -3.6%

top volume symbol value (AED) price DFM 856,268,168 4.09 ALDAR 439,990,460 9.27 ARKAN 374,981,150 2.03 EMAAR 370,582,255 11.75 OILC 358,685,866 2.61

Dubai Financial Market

The DFM index closed at 4,638 a slight decrease of 0.04% from the previous close. 943 million shares traded worth 3 billion dirhams. Thirteen shares advanced and twelve declined.
The top traded share was DFM rising 6.23% to 4.09 dirhams on 207 million shares traded.

Other shares to rise included: Amlak Finance (AMLAK) 3.63 (1.11%), Islamic Arab Insurance (IAIC) 3.45 (1.17%) and UNION 3.80 (2.15%).

Shares to decline included: AIRARABIA 1.64 (1.20%), DEYAAR 1.96 (1.01%), Dubai Investments (DIC) 4.71 (0.42%), Emaar Properties (EMAAR) 11.75 (1.26%) and GULFNAV 1.37 (0.72%).

Abu Dhabi Securities Market

The ADSM index closed at 3,983 an increase of 1.80% from the previous close. 757 miliion shares traded worth 2.5 billion dirhams. Twenty nine shares advanced and thirteen declined.
The top traded share was ARKAN rising 3.57% to 2.03 dirhams on 184 million shares traded.

Other shares to rise included: ABAR 4.19 (5.01%), Aldar Properties (ALDAR) 9.27 (0.76%), Dana Gas (DANA) 1.84 (3.95%), Oasis Leasing (OILC) 2.61 (5.28%), RAK Properties (RAKPROP) 1.96 (1.55%) and Abu Dhabi National Energy (TAQA) 3.18 (2.58%).

Shares to decline included: ADNH 7.60 (1.68%), RAK Cement (RAKCC) 2.32 (2.60%) and BILDCO (BILDCO) 3.87 (0.26%)

• Comment on this report and view previous reports on the Share Wadi blog.
• Discuss UAE companies at Dubai Share Talk.