UAE markets 06 Dec 2007

UAE market news & discussions for 06 December 2007 Both the DFM and ADSM saw moderate gains on solid enough turnover. Du Telecom saw heavy trading for a second day and a 3% increase, while in Abu Dhabi, Sorouh shot up another 4% on robust trading. DP World shares were trading between $1.27 and $1.29, while Fortune Management (FMI), down 5% to $0.76 from just 2 trades, was the only other DIFX stock to see any trading activity so far today. EFG Hermes released reports this for Dubai Investments (NEUTRAL) and Etisalat (BUY). HSBC released positive reports on Aldar, Sorouh, and 4 Abu Dhabi banks. The UAE Central Bank governor said no dirham revaluation was planned in the forseeable future, while Standard Chartered were reported as expecting a revaluation within the next 2 months. A new business newspaper for the UAE is to be launched on Sunday 09 December 2007 to replace Emirates Today.

• 06 December 2007 financial and business news for the UAE
• Al Suweidi says no UAE revaluation - R 05 Dec 07
• DIC report EFG Hermes LT FV 3.95 NEUTRAL - 05 Dec 07
• DP World wins Yemen port deal - R 05 Dec 07
• Dubai Financial Market General Index (DFMGI) Comments 01 Dec 07
• ETISALAT report EFG Hermes FV 31.30 dhs - 06 Dec 07
• GCC may revalue dollar peg within 2 months says SC - BB 05 Dec 07
• Marketwatch UAE December 2007
• New UAE business newspaper starts 09 Dec 07
• PALTEL board meeting on 13 Dec 2007 (Arabic)
• QTEL plans more acquisitions, possible IPO - R 06 Dec 07
• UAB next board meeting on 12 Dec 07
• UAE CB says many GCC countries won't depeg - DJ 05 Dec 07
• UAE dirham revaluation Sun? AB 28 Nov ... No says CB - 29 Nov 07
• 05 December 2007 Dubai Abu Dhabi UAE financial news

More UAE stock market news and discussions...

best stock rises symbol price change RAPCO 3.68 +0.33 +9.9% ADNIC 9.00 +0.80 +9.8% NBF 3.77 +0.26 +7.4% GLOBAL 13.00 +0.80 +6.6% IFA 11.00 +0.65 +6.3%

worst stock falls symbol price change UNION 2.30 -0.16 -6.5% ASCANA 2.30 -0.12 -5% OEIHC 27.30 -1.35 -4.7% TKFL 5.19 -0.14 -2.6% NCTH 6.89 -0.17 -2.4%

top volume symbol value (AED) price SOROUH 541,264,977 7.59 EMAAR 534,352,809 13.10 DU 526,805,849 5.93 DFM 457,715,755 6.66 DEYAAR 277,039,660 2.85

Dubai Financial Market

The DFMGI was up 0.3% to 5553 from solid enough trading volume of AED 3.2 billion, Du Telecom (DU) standing out with a 3.1% rise to 5.93 from AED 527 million of turnover, a little lower than the top stock by traded value - Emaar Properties (EMAAR) which was unchanged at 13.10.

Other rises on activity of more than AED 1m for Arabtec (ARTC) up 2.6% to 9.23, Union Properties (UPP) up 2.3% to 4.48, MASQ up 2% to 285.60. Amlak Finance (AMLAK) rose 1.8%, GGICO up 1.7%, Shuaa Capital (SHUAA) up 1.3%, Emirates NBD (ENBD) up 0.75% and DFM up just 0.3%.

Tamweel (TAMWEEL) was the worst of the actively traded losers, falling 1.5% to 7.06. Dubai Investments (DIC) fell 1.3%, GULFNAV 1.2%, Islamic Arab Insurance (IAIC) 1.1%, while DEYAAR, AIRARABIA, AMAN, Aramex (ARMX) and Tabreed (TABREED) all fell less than 1%.

Abu Dhabi Securities Market

ADSM rose 0.7% to 4352 points from decent enough turnover of AED 1.35 billion with Sorouh Real Estate (SOROUH) the star, up by 4.1% to 7.85 from AED 540 million, twice the turnover of the next in the list - Aldar Properties (ALDAR) with a more moderate 1.4% rise to 10.65.

The top three gainers each rose on just a single trade. Other significant rises on more active trading for NBS up 3.3% to 3.13, Dana Gas (DANA) up 2.4% to 2.12, Oasis Leasing (OILC) up 2% to 2.58 and several more rising less than 1.5%. Etisalat (ETISALAT) rose just 0.23% to 21.80.

RAK Cement (RAKCC) was the only loser falling more than 1% on trading activity of more than AED 1m, ending the day down by 2.3% at 2.12. Aabar Petroleum (AABAR), ARKAN, Abu Dhabi National Energy (TAQA), and Union National Bank (UNB) all fell less than 1%.

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