UAE markets 27 Nov 2007

UAE market news & discussions for 27 November 2007 The markets fell with a bit of a thud today, both DFM and ADSM down by more than 2% with Tamweel the only stock to show a gain of any note. The DFM released full Q3 statements for Al Madina Finance, and there shares had an abrupt 10% drop, but from just one small trade. Oasis Leasing announced a joint venture with Blenheim Capital to set up Al Waha Finance, Oasis shares fell 4.1%. DP World on the DIFX, as of 3 pm, was trading at $1.30 after hitting a low of $1.26 earlier in the session. DIFX trading finishes at 5pm.

• 27 November 2007 shares and financial news for DFM and ADSM
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• Market Watch November 2007
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best stock rises symbol price change NMDC 6.00 +0.46 +8.3% ARIG 3.65 +0.18 +5.2% OIC 9.92 +0.47 +5% TAMWEEL 6.66 +0.24 +3.7% SCIDC 4.75 +0.13 +2.8%

worst stock falls symbol price change ALMADINA 9.00 -0.97 -9.7% ADNIC 8.20 -0.80 -8.9% FCI 4.57 -0.43 -8.6% FBICO 2.59 -0.21 -7.5% JULPHAR 2.08 -0.14 -6.3%

top volume symbol value (AED) price EMAAR 611,776,165 12.15 DEYAAR 369,821,473 2.69 DFM 318,479,462 6.15 ALDAR 228,079,267 9.27 AIRARABIA 142,390,620 1.81

Dubai Financial Market

The DFMGI decreased steadily during today's trading to close at 5243 points, a fall of 2.3%, from just under AED 2 billion of turnover. Only 5 stocks rose, and only Tamweel traded more than AED 1 million with a 3.7% rise to 6.66.

GULFNAV suffered the worst loss of the more active stocks, falling 5% to 1.53. Union Properties (UPP) wasn't far behind with a 4.8% drop to 3.94, Aramex (ARMX) fell 4.4% to 2.81, DFM 4.35% to 6.15, and Emaar Properties (EMAAR) 4.3% to 12.15. DEYAAR, AMAN, Islamic Arab Insurance (IAIC), and Dubai Investments (DIC) all fell between 3 and 4%, and the remainder fell less than 2%.

Abu Dhabi Securities Market

The ADSMI was slightly worse off than the DFMGI, falling 2.5% to 4101 and turnover of AED 655 million. As in Dubai, only 5 stocks rose, and only EIC, a rarely traded stock at the best of times, rose on more than AED 1 million of trading, closing at 8.00 - just 0.5% up on its last close.

The list of losers today was headed by FCI falling 8.6% to 4.56, ignoring stocks trading less than AED 1 million. Aabar Petroleum (AABAR) had a nasty 5.3% drop to 3.51 and Aldar Properties (ALDAR) wasn't far behind with a 5.1% fall to 9.28. RAK Properties (RAKPROP) and ARKAN fell just less than 5%, AGTHIA was down 4.5%, Dana Gas (DANA) and NBS down 4.4%, and First Gulf Bank (FGB) lost 4.05%. Sorouh Real Estate (SOROUH), Commercial Bank International (CBI), and Abu Dhabi National Energy (TAQA) all fell between 3 and 4%, and the remainder fell less than 3% with Etisalat (ETISALAT) down by 2.55% to 20.75.

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