UAE markets 05 Dec 2007

UAE market news & discussions for 05 December 2007 Both the DFM and ADSM continued upwards today, with increased trading activity in Dubai, and Du standing out with the highest increase and top of the turnover table. Lower volumes in Abu Dhabi, with Sorouh, Aldar, and Abu Dhabi Commercial Bank up on solid turnover. On the DIFX so far today, DP World is trading at $1.26 - $1.27 on low volumes, the news of the Yemen port development approval appearing to have no effect. Gold Fields is up less than 1% on a handful of trades and Kingdom Hotels has had one trade of just 50 shares at $8.20. OPEC met today in Abu Dhabi and agreed to keep oil output levels unchanged, according to the Nigerian oil minister, but will meet again in January 2008.

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More UAE stock market news and discussions...

best stock rises symbol price change AWNIC 6.49 +0.59 +10% RAKBANK 7.80 +0.69 +9.7% NMDC 6.01 +0.53 +9.7% FBICO 2.73 +0.24 +9.6% QCEM 3.09 +0.23 +8%

worst stock falls symbol price change ASCANA 2.42 -0.12 -4.7% ASMAK 5.81 -0.26 -4.3% ARIG 3.26 -0.12 -3.6% UCC 4.07 -0.11 -2.6% GGICO 8.60 -0.20 -2.3%

top volume symbol value (AED) price DU 534,652,781 5.75 EMAAR 396,321,126 13.10 TAMWEEL 365,555,774 7.17 AIRARABIA 349,743,219 1.94 DFM 332,151,894 6.64

Dubai Financial Market

The DFMGI rose 1.4% to 5535 on turnover of AED 3.1 billion with Du Telecom (DU) the star of the day, up 6.9% to 5.75 and top traded value of 535m dhs.

Emaar Properties (EMAAR) also looking good with a 2.75% increase to 13.10 from just under 400m dhs of turnover. Other rises of note for Amlak Finance (AMLAK) up 3.5% to 4.48, Arabtec (ARTC) up 3% to 9.00, Union Properties (UPP) up 2.1% to 4.38, and AIRARABIA up 1.6%. Other stocks to rise about 1% included Islamic Arab Insurance (IAIC), Emirates NBD (ENBD), Tamweel (TAMWEEL), Dubai Investments (DIC), and DFM. Global Investment House (GLOBAL) saw much higher than usual turnover with 103m dhs worth traded from just nine deals of 1m shares each and a small increase of 0.8% to 12.20.

The short losers list of just 6 stocks had only Shuaa Capital (SHUAA) trading more than 1m dhs worth, and falling by 1.4% to 6.25.

Abu Dhabi Securities Market

The ADSMI was up 1.3% to 4322 from lower turnover of just under AED 1 billion with Aldar Properties (ALDAR) and Sorouh Real Estate (SOROUH) trading making up over half of that. Both stocks were up about 2.4% to 7.24 for Sorouh, and 10.50 for Aldar.

First Gulf Bank (FGB) was also busy and rose 2.1% to 22.00, RAK Bank (RAKBANK) saw greater than usual turnover but from just 2 trades, and a big jump of 9.7% to 7.80. Other increases worth noting for DRIVE up 7.3% to 3.59, Abu Dhabi Commercial Bank (ADCB) up 3.8% to 6.90, National Bank of Abu Dhabi (NBAD) up 2.2% to 23.10, and Abu Dhabi ShipBuilding (ADSB) up 2% to 4.70 as they announced the keel laying for their 4th Baynunah boat. Etisalat (ETISALAT) rose just 0.46% to 21.90 on thin trading.

The losers list was short with only 8 stocks going down. RAK Cement (RAKCC), Abu Dhabi National Energy (TAQA), Union National Bank (UNB), and Gulf Cement (GCEM) all traded more than 1m dhs worth, and fell by less than 1%.

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