UAE markets 21 Nov 2007

UAE market news & discussions for 21 November 2007 Both UAE markets declined today falling by more than one percent, with trading volumes down from previous days. On the DFM, DEYAAR topped trading falling by 2.43% and EMAAR, AIRARABIA, AMLAK and GULFNAV all fell by 3% or more. On the ADSM RAKPROP topped trading falling by over 5%. ALDAR, DANA and OILC all fell by more than 4%. Business news was dominated by the closing of the DP World IPO 15x over subscribed. The final price was set at $1.30 the top of the indicative range and implying a market cap for the whole company of $21.6 billion. Trading starts on 26 November 2007 and retail investors will receive at least 3500 shares. In other news: The price of oil passed $99 per barrel in Asian trading. UAE Federal Government Employees will recieve a 70% pay increase effective JAN 2008. Analysts at Citi rate ME equity markets a buy due to low valuations and low correlation with global markets.

• DP World and Liquidity Drainage
• DP World IPO may be 5-19x oversubscribed - 21 Nov 2007
• The DP World shares are due to start trading on November 26.
• Oil closes in on $100 a barrel
• Trends Reversal Signs
• BT and Etisalat to connect UAE's financial sector with global players
• 21 November 2007 UAE Dubai, Abu Dhabi business news
• UAE Charts & Indicators
• Please help - Regarding the allocation notice
• ENBD secondary listing and AED 7.3 bn bond sale - R 20 Nov 2007
• UNB China
• Borse Dubai expects OMX deal done by end Feb 2007 - R 20 Nov 2007
• Dubai considering stakes in US finance companies - R 20 Nov 2007
• TAQA - Canada approves acquisitions - R 20 Nov 2007
• Market Watch November 2007
• Regarding PE and Dividends (Profits)
• Etisalat
• Insider trades DFM November 2007
• DPW - DP World IPO subscription comments
• ARTC - Arabtec workers on strike - 01 Nov 2007
• UAE company reports and ratings
• Forum and website modifications and new features log
• 20 November 2007 shares and financial news for DFM and ADSM
• Deyaar Saudi
• ETISALAT to invest AED 18.35 in Africa - R 19 Nov 2007

More UAE stock market news and discussions...

best stock rises symbol price change NMDC 6.09 +0.49 +8.8% BOS 3.03 +0.06 +2% RAKCEC 5.40 +0.10 +1.9% TKFL 4.55 +0.04 +0.9% NBAD 23.00 +0.10 +0.4%

worst stock falls symbol price change UNION 2.45 -0.27 -9.9% ADSB 4.61 -0.26 -5.3% ASCANA 3.43 -0.18 -5% RAKPROP 2.05 -0.10 -4.7% OILC 2.48 -0.12 -4.6%

top volume symbol value (AED) price DEYAAR 949,329,084 2.81 DFM 428,002,366 6.60 EMAAR 365,655,688 13.35 AIRARABIA 267,857,030 1.86 ALDAR 166,719,715 10.00

Dubai Financial Market

The DFM index closed at 5,436 down 1.74% from the previous close. 753 million shares traded worth 2.6 billion dirhams. Two shares advanced and twenty three declined.
The Top traded shares were DEYAAR losing 2.43% to close at 2.81 dirhams on turnover of 337 million traded and AIRARABIA losing 3.12% to close at 1.82 dirhams on turnover of 143 million traded.

Other shares to fall included: Amlak Finance (AMLAK) 4.30 (3.37%), DFM 6.60 (0.15%), Emaar Properties (EMAAR) 13.35 (2.90%) and GULFNAV 1.63 (3.55%).

Two shares rose: Emirates NBD (ENBD) 13.05 (0.38%) and Dubai National Insurance & Reinsurance (DNIR) 4.41 (0.22%) on small volumes traded.

Abu Dhabi Securities Market

The ADSM index closed at 4,248 down 1.17% from the previous clsoe. 171 million shares traded worth 743 million dirhams. Six shares advanced and thirty two declined.
The top traded share was RAK Properties (RAKPROP) declining 5.12% to 2.05 dirhams on turnover of 38 million traded.

Other shares to fall included: Aldar Properties (ALDAR) 10.00 (4.31%), ARKAN 3.00 (3.23%), Dana Gas (DANA) 2.06 (4.19%), Oasis Leasing (OILC) 2.48 (4.62%), Sorouh Real Estate (SOROUH) 6.87 (1.15%) and Etisalat (ETISALAT) 21.80 (0.23%).

Shares to rise included: National Bank of Abu Dhabi (NBAD) 23.00 (0.44%), Finance House (FH) 7.17 (0.14%) and Bank Of Sharjah (BOS) 3.03 (2.02%) all on small volumes traded.

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