UAE markets 20 Nov 2007

UAE market news & discussions for 20 November 2007 The DFMGI fell while the ADSM index surged ahead, dragged up by hefty trading and a solid increase in Etisalat shares - perhaps related to news of their expansion plans in Africa. The DIFX has been a little busier than usual so far today, a total of 17 trades mostly from KHI falling slightly, and a couple for HIK. SHOP released their full third quarter accounts, which leaves just 3 Kuwait companies, and Al Firdous holdings, with accounts unavailable. The UAE company reports on ShareWadi.com have been updated to include green and red flags for financial entries of significance.

• 20 November 2007 shares and financial news for DFM and ADSM
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• Etisalat shares cheap?
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• Market Watch November 2007
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• 19 November 2007 UAE Dubai, Abu Dhabi business news

More UAE stock market news and discussions...

best stock rises symbol price change DDC 2.20 +0.20 +10% UNION 2.71 +0.19 +7.5% ETISALAT 21.85 +1.30 +6.3% CBI 2.97 +0.17 +6.1% NBF 3.74 +0.16 +4.5%

worst stock falls symbol price change IFA 10.35 -1.80 -14.8% ALFIRDOUS 2.62 -0.30 -10.3% ABNIC 8.37 -0.93 -10% NMDC 5.60 -0.36 -6% TKFL 4.51 -0.27 -5.6%

top volume symbol value (AED) price DEYAAR 461,691,235 2.88 DFM 439,862,363 6.61 EMAAR 330,473,293 13.75 ALDAR 229,868,967 10.45 OILC 148,338,086 2.60

Dubai Financial Market

The DFMGI had an early fall and recovery before a steady decrease set in, with the index closing at 5533 from lower turnover of AED 1.9 billion. Apart from some increases in 3 illiquid stocks, including 2 trades for the previously never-traded DDC, all DFM listed stocks that traded today, fell in price.

DFM shares copped the biggest hit on turnover greater than AED 1m, with a 4.3% fall to 6.61 and AED 440m worth of shares going through the books. Tamweel (TAMWEEL) lost 3.8%, Aramex (ARMX) 3.3%, Tabreed (TABREED) 3.2%, and AMAN 3%. Amlak Finance (AMLAK), DEYAAR, Arabtec (ARTC), GULFNAV, Emaar Properties (EMAAR), Union Properties (UPP), AIRARABIA, and Islamic Arab Insurance (IAIC) all fell 2-3%. The remaining actively traded stocks fell less than 2%.

Abu Dhabi Securities Market

The ADSM index closed up by at points, with just over one billion dhs worth of trading, led by Etisalat (ETISALAT) which rose 6.3% to 21.60. First Gulf Bank (FGB) also performed well with busy trading and a 4.3% increase to 21.75.

Of the 19 shares to rise today, only a handful were significant with most on turnover of less than AED 1m. The other rises worth noting were were Sharjah Cement (SCIDC) up 2.6%, ASMAK up 1.4% - stock that rarely appears on the radar. Sudan Telecom (SUDATEL), RAK White Cement (RAKWCT) and Union National Bank (UNB) all rose less than 1%.

Most of the more active stocks pulled back today with Aldar Properties (ALDAR) dropping 2.8% and sitting at the top of the turnover table with AED 230m worth of trades. ABNIC was the worst fall with a single very large limit down trade at 8.37, TKFL lost 5.7%, RAK Properties (RAKPROP) and Dana Gas (DANA) were down by 1.8% each, NBS fell 1.2%, and the remaining falls were less than 1% or on turnover of less than 1m dhs.

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