UAE markets 06 Nov 2007

UAE market news & discussions for 06 November 2007 The UAE markets continue to rock with an astonishing AED 10.9 billion dhs worth of trading on the DFM today as the index gained a very solid 3.6%. Deyaar traded a staggering AED 2.55 billion worth of shares - more than the total for the Abu Dhabi market today, and share price was 15% limit up. Deyaar announced yesterday they expected to close an AED 18 billion deal to build a town in India. Tamweel's share price was also limit up. Just 1 trade so far on the DIFX today, for Kingdom Hotels. Emaar Properties said their would be no change in profit for the 4th quarter this year compared to the 3rd quarter which would give them full year earnings the same as 2006, but expect to see increased revenues in the latter part of 2008. Despite this uninspiring news for 2007, their shares rose 3% today. Aldar Properties said they would finance the development of 30 new hotels in Abu Dhabi over the next 5 to 10 years. Their shares rose 3.3% today. Several companies denied knowing why their share prices were rising sharply, including RAK Properties, Arkan Building Materials, and Agthia (Emirates Foodstuff & Mineral Water). Dana Gas however did issue a clarification but of a general nature attributing the rise to factors such as the increasing oil price and positive market sentiment, rather than anything specific related to Dana Gas. The completion of the Iran end of the pipeline comment remains unconfirmed. Third quarter results were released for Gulf Cement, Bayan Investment Company and Sharjah Insurance, full accounts released for Shuaa Capital and Union Properties. Kuwait Commercial Markets (SHOP) said they would have a board meeting on 12 Nov 2007 to discuss Q3 results.

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More UAE stock market news and discussions...

best stock rises symbol price change DEYAAR 2.75 +0.33 +13.6% TAMWEEL 6.92 +0.76 +12.3% ARKAN 3.10 +0.28 +9.9% OEIHC 30.00 +2.25 +8.1% GULFNAV 1.74 +0.12 +7.4%

worst stock falls symbol price change IFA 11.35 -1.95 -14.7% UAB 7.10 -0.55 -7.2% INVESTB 3.60 -0.24 -6.3% ENBD 14.35 -0.95 -6.2% ALFIRDOUS 3.30 -0.20 -5.7%

top volume symbol value (AED) price DEYAAR 2,359,387,237 2.75 AIRARABIA 1,183,434,542 1.88 DFM 1,052,819,282 6.18 GULFNAV 1,013,079,839 1.74 EMAAR 870,603,278 14.20

Dubai Financial Market

The DFMGI rose an excellent 3.6% to 5726 points from 3.4 billion shares traded worth a total of a massive 10.9 billions. DEYAAR, as mentioned, rose limit up to 2.78 from almost a billion shares traded, a level only topped on the day of their listing. Four other shares traded more than a billion dhs worth of turnover, GULFNAV up 11% to 1.80, AIRARABIA up 10.2% to 1.94, DFM up 5.6% to 6.19, and Emaar Properties (EMAAR) up 2.9% to 14.20.

Other top gainers were Tamweel (TAMWEEL), also limit up to 7.08, Aramex (ARMX) up 6.4% to 3.35, MASQ up 4.4% to 271.50, and Amlak Finance (AMLAK) up 4.2% to 5.00.

Despite the excellent day for many shares, there were still a few that fell. New stock on the block, ALFIRDOUS, plummeted 9.4% to 3.17 on greater turnover than seen on its first day yesterday. Emirates NBD (ENBD) suffered a 6.2% fall to 14.35 and AMAN lost 4.2% to end the day at 32.00. Union Properties (UPP) was the only one of the usually actively traded stocks to fall however, down by just 0.7% to 4.49.

Abu Dhabi Securities Market

The ADSM index was relatively subdued compared to hectic trading at the DFM with a 0.34% rise to 4440 points from turnover of just under AED 2.5 billion dhs, still a very solid amount.

Heavily traded stocks included Oasis Leasing (OILC) at the top of the list with 590 million dhs of turnover and a small rise of 0.7% to 2.94, Aldar Properties (ALDAR) up a more encouraging 3.3% to 10.75, Sorouh Real Estate (SOROUH) with a 3.0% rise to 6.90 and Dana Gas (DANA) unfortunately falling by 3% to 2.25.

Top gainers included ARKAN yet again trading limit up to close at 3.10, TKFL up 5.5%, ADAVIATION up 4.6%, ADNH up 3.6%, and Abu Dhabi Commercial Bank (ADCB) up 1.4%. The remaining rises on less than 1m dhs of turnover or less than 1% up.

Losers today included AGTHIA down 3.4%, Aabar Petroleum (AABAR) down 3.3%, Union National Bank (UNB) down 2.7%, RAK Cement (RAKCC) and RAK White Cement (RAKWCT) both falling 2.5%, Finance House (FH) down 1.7%, Abu Dhabi National Energy (TAQA) down 1.5%, and RAK Properties (RAKPROP) down 1.3%.

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