UAE markets 14 Nov 2007

UAE market news & discussions for 14 November 2007 A split decsion on UAE markets today with the DFM index up 1.69% on strong volumes and the ADSM down 1.49% on lower volumes. The DFM itself continued its run closing 7.29% higher at 6.77 dirhams on turnover of 163 million shares. On the ADSM the index fell from the beginning with all but six stocks ending down. OILC continued its descent closing at 2.39 dirhams a fall of 6.27% on turnover of 59 million shares. In other business news: The head of the UAE Central Bank hinted at changes to the Dirham/Dollar peg. Emirates airline indicated an IPO might happen within 2 to 3 years time with up to 30% of the company on offer. Third Quarter Results updates today Arab Insurance Group (ARIG) saw Q3 gross premiums double and M9 premiums up 50%, but in the end lost money for the quarter and only made AED 40m for the nine months to Sep 2007 - a 20% drop compared to the same period last year. Shares fell 3% today on neglible trading. Al Sagr Insurance (ASNIC) recovered from their investment losses last year resulting in impressive profit gains of 241% for M9 and 187% for Q3 while increases in underwriting profit were not too shabby either. Shares remained untraded. Dana Gas (DANA) issued a press release with limited information. Net profits of AED 72m for M9 gives us a 2007 PE estimate of about 135 which looks quite expensive, but PBV looks more reasonable at 1.9. Q3 profits fell by more than 50% to AED 22m compared to 2006 Q3. Share price fell 4% today. Gulf Finance House (GFH) released full statements showing large gains from investment income filtering down to a 30% increase in net profit for M9 and 50% for Q3. Shares were up 5% today. Finding the actual number of shares outstanding from their statements proved to be beyond us though. Gulf General Investments (GGICO) gross profits increased about 20% for both Q3 and M9 but net profit fell slightly for Q3 to AED 89m and rose less than 10% to AED 350m for M9 (after deduction of minority interests). Shares were unchanged at 8.62 today. National Cement Company (NCC) had a 25% increase in gross profit for M9, and 15% for Q3 but net profits decreased dues to losses from investments and derivative contracts with AED 45m for Q3 and AED 147 for M9. No trades in NCC today. United Kaipara Dairies Company (UNIKAI) saw a 60% increase in M9 profits to AED 19m from increased revenues, but third quarter profits increased only 6% to AED 8.3m. Their shares remained untraded. Results released but not reviewed yet for International Investment Group (IIG) and Al Madina for Finance & Investment (ALMADINA).

• Market Watch November 2007
• ASNIC 2007 Q3 profit AED 32m +187%, M9 60m +241% 14 Nov 2007
• IS ENBD is a good buy @ 13 9in the bears market
• GFH 2007 Q3 profit AED 330m +49%, M9 860m +33% 22 Oct 2007
• Statistically speaking...
• 14 November 2007 shares and financial news for DFM and ADSM
• Emirates Airlines 30% IPO
• NMDC 2007 Q3 profit AED 24m -54%, M9 110m +861% 13 Nov 2007
• SHOP 2007 M9 profit AED 140m +187% 13 Nov 2007
• DDC 2007 M9 profit AED 0.33m +20% 13 Nov 2007
• Any Stock Picks in the bears market ?
• EMAAR 2007 Q3 profit AED 1.55bn -3%, M9 4.82bn +4% - 17 Oct 2007
• Insider trades DFM November 2007
• ARTC buys 60% of Target Engineering Construction - 13 Nov 2007
• IFA 2007 Q3 profit AED 70m +112%, M9 650m +526% 13 Nov 2007
• Dubai Share Talk censorship
• ARTC - Arabtec workers on strike - 01 Nov 2007
• DP World IPO sees strong investor demand - R 12 Nov 2007
• DPW - DP World IPO subscription comments
• AIRARABIA to borrow AED 6 bn for 40 plane purchase R 11 Nov 2007
• Borse Dubai approved by Sweden FSA for OMX ownership 12 Nov 2007
• 13 November 2007 shares and financial news for DFM and ADSM
• QTEL 2007 Q3 profit AED 420m -6%, M9 1.3bn +1% 12 Nov 2007
• CIB 2007 Q3 profit AED 160m +19%, M9 530m +47% 12 Nov 2007
• Bulls or Bears

More UAE stock market news and discussions...

best stock rises symbol price change TKFL 5.47 +0.46 +9.2% DFM 6.77 +0.46 +7.3% GFH 10.90 +0.50 +4.8% OEIHC 27.75 +0.95 +3.5% UPP 4.15 +0.13 +3.2%

worst stock falls symbol price change FBICO 1.94 -0.21 -9.8% OILC 2.39 -0.16 -6.3% ADNH 8.16 -0.45 -5.2% ASCANA 3.80 -0.20 -5% DIN 38.35 -2.00 -5%

top volume symbol value (AED) price DFM 1,076,093,666 6.77 DEYAAR 728,987,109 2.96 AIRARABIA 363,272,192 1.97 ARKAN 281,940,938 3.13 GULFNAV 183,845,414 1.74

Dubai Financial Market

The DFM index closed at 5,582 a rise of 1.69% from the previous close. 794 million shares traded worth 2.9 billion dirhams. Eighteen shares advanced and four declined.
The top traded share was DEYAAR rising 2.42% to 2.96 dirhams on turnover of 248 million shares. The DFM continued its climb rising 7.29% to 6.77 dirhams on turnover of 163 million shares.

Other shares to rise included: AIRARABIA 1.97 (3.14%), Amlak Finance (AMLAK) 4.62 (1.76%), Dubai Investments (DIC) 5.65 (2.35%), Emaar Properties (EMAAR) 13.60 (1.11%) and GULFNAV 1.74 (1.75%).

The following insurance shares fell all on modest volumes: ASCANA 3.80 (5.00%), Arab Insurance Group (ARIG) 3.47 (3.07%) and DIN 38 35 (4.95%).

Abu Dhabi Securities Market

The ADSM index closed at 4,183 a fall of 1.49% from the previous close. 244 million shares traded worth 863 million dirhams. Six shares advanced and thirty one declined.
ARKAN was the top traded share closing unchanged at 3.13 dirhams on turnover of 90 million shares.
Oasis Leasing (OILC) continued its slide closing 6.27% down at 2.39 dirhams on turnover of 59 million shares.

Other shares to fall included: Aldar Properties (ALDAR) 10.15 (2.40%), Dana Gas (DANA) 2.18 (3.96%), RAK Properties (RAKPROP) 2.11 (4.52%) and Etisalat (ETISALAT) 20.80 (1.19%).

Shares to rise included: NBS 3.32 (0.61%), RAK Ceramics (RAKCEC) 5.30 (0.19%), TKFL 5.47 (9.18%) and BILDCO (BILDCO) 3.78 (0.80%) all on modest volume traded.

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