UAE markets 29 Nov 2007

UAE market news & discussions for 29 November 2007 Both UAE indicies rose today with the DFM up by more than one percent and the ADSM rising by more than two percent. Trading volumes were also elevated on both markets. Deyaar was the top traded share on DFM rising 0.35% to 2.82 dirhams on volume of 317 million shares. ARKAN was the top traded share on ADSM rising 5.74% to 3.13 dirhams on volume of 76 million shares. DIFX trading today, at 1:30 pm (DIFX closes at 5pm), is subdued with DPW the only share traded so far, up 1.5% to $1.31 and volume of only 1.8 million shares from 15 trades. Previous volume levels this week were 200-300m shares per day. EFG Hermes released a report on Dana Gas, giving the stock a SELL rating and Fair Value of 1.46 dhs, and said they expected the gas pipeline to Iran to be open by early 2008. The DFM and ADSM will be closed next week Sunday and Monday for UAE National Day holidays. The Dirham surged to a 17 year high as speculation mounts the currency could be revalued as early as next week. The Saudi Riyal hit a 21 year high.

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• DANA report EFG Hermes FV 1.46 [SELL] - 27 Nov 07
• DANA - Iranian gas delivery from early 2008? ET 28 Nov 07
• UAE dirham revaluation coming on Sunday? 28 Nov 07
• DP World shares not transferred - Rasmala / Mashreq Securities
• TAQA to buy Canada's Pioneer Natural unit for AED 2 billion - 23 Aug 07
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• TABREED 2007 Q3 profit AED 15m +5%, M9 49m +5% 01 Nov 2007
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• AMLAK report TAIB [OVERWEIGHT] - 22 Nov 07
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More UAE stock market news and discussions...

best stock rises symbol price change NIND 16.65 +2.15 +14.8% ASMAK 6.27 +0.57 +10% DU 5.46 +0.39 +7.7% UPP 4.17 +0.24 +6.1% SOROUH 6.81 +0.37 +5.7%

worst stock falls symbol price change NMDC 5.45 -0.55 -9.2% ALFIRDOUS 2.25 -0.15 -6.3% ASCANA 2.67 -0.14 -5% ARIG 3.38 -0.16 -4.5% NCTH 6.71 -0.30 -4.3%

top volume symbol value (AED) price EMAAR 957,974,991 12.40 DEYAAR 902,053,055 2.82 DFM 692,018,929 6.45 ALDAR 571,366,413 9.51 DU 352,822,713 5.46

Dubai Financial Market

The DFM index closed at 5,354 a rise of 1.61% from the previous close. 996 million shares traded worth 4.1 billion dirhams. Seventeen shares advanced and six declined.
The top traded share was Deyaar rising 0.35% to 2.82 dirhams on volume of 317 million shares. AIRARABIA 1.88 and GULFNAV 1.62 also rose on heavy volume of shares traded.

Other shares to rise included: Amlak Finance (AMLAK) 4.26 (1.91%), DFM 6.45 (1.89%), Emaar Properties (EMAAR) 12.40 (3.33%) and Dubai Investments (DIC) 5.35 (2.29%).

Shares to fall included: Tamweel (TAMWEEL) 6.62 (1.63%) on volume of 34 million shares and Shuaa Capital (SHUAA) 6.21 (0.64%), Commercial Bank of Dubai (CBD) 9.95 (0.50%) and ALFIRDOUS 2.25 (6.25%) all ended down on light volumes.

Abu Dhabi Securities Market

The ADSM index closed at 4,163 a rise of 2.61% from the previous close. 283 million shares traded worth 1.3 billion dirhams. Forty two shares advanced and eight declined.
The top tradd share was ARKAN rising 5.74% to 3.13 dirhams on volume of 76 million shares. Aldar Properties (ALDAR) also rose 3.71% to 9.51 dirhams on volume of 60 million shares.

Other shares to rise included: Dana Gas (DANA) 1.99 (3.65%), First Gulf Bank (FGB) 20.95 (5.01%), Oasis Leasing (OILC) 2.39 (3.46%), RAK Properties (RAKPROP) 1.98 (3.66%), Sorouh Real Estate (SOROUH) 6.81 (5.75%) and Etisalat (ETISALAT) 21.35 (3.64%).

Shares to fall included: ABNIC 8.90 (1.11%), Sharjah Cement (SCIDC) 4.65 (2.11%) and NCTH 6.71 (4.28%) all on relatively light volume of shares traded.

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