UAE markets 13 Dec 2007

UAE market news & discussions for 13 December 2007 The ADSM rose slightly and the DFM fell slightly, due mostly to a sharp drop in Emirates NBD. Sharjah Islamic Bank and Finance House, on the Abu Dhabi exchange, stood out with significant gains on greater than usual activity. On the DIFX, DPW continues its slow decline, falling another $0.01 to $1.24 from light turnover. No other stocks have traded so far today. The DIFX closes later this afternoon. Amlak was reported to be looking at expansion into Bahrain, Qatar and Jordan. Dana Gas announced the date of setting the conversion price for the convertible sukuk (06 July 2008). A short trading week next week as Eid Al Adha holidays start. No official market announcements have been seen but we assume they will be closed in line with the government sector holiday which runs from Tue 18 Dec to Sun 23 Dec 2007 (both days included).

• 13 December 2007 shares and financial news for DFM and ADSM
• AMLAK expansion plans Bahrain Qatar Jordan - AB 13 Dec 07
• DANA announces conversion price and date for sukuk - 13 Dec 07
• Dubai Financial Market General Index (DFMGI) Comments 01 Dec 07
• EIB to lend AED 4.4 bn to Limitless ... denied by EIB - R 11 Dec 07
• Eid Al Adha holiday - market close dates 18-23 Dec 2007?
• IIG 2007 Q3 results - 12 Dec 07
• Insider trades December 2007
• Marketwatch UAE December 2007
• NCTH Director General resignation - ADSM 12 Dec 07
• SALAM 2007 FY results (not yet) - BOD meeting on 25 Dec 2007
• UAB next board meeting on 12 Dec 07
• WARE Agility to acquire Medgroup - PR 12 Dec 07
• 12 December 2007 shares and financial news for DFM and ADSM

More UAE stock market news and discussions...

best stock rises symbol price change ADNIC 8.90 +0.79 +9.7% FH 8.02 +0.65 +8.8% OEIHC 31.95 +1.95 +6.5% GFH 11.50 +0.70 +6.5% RAKBANK 8.50 +0.50 +6.3%

worst stock falls symbol price change NBF 3.92 -0.38 -8.8% ASCANA 2.10 -0.11 -5% ENBD 13.90 -0.70 -4.8% UNION 2.72 -0.12 -4.2% ALFIRDOUS 2.71 -0.10 -3.6%

top volume symbol value (AED) price ALDAR 495,953,075 11.15 DEYAAR 360,807,571 2.94 EMAAR 337,597,958 13.65 SOROUH 305,946,797 8.13 ARKAN 305,029,104 4.11

Dubai Financial Market

Yesterday Emirates NBD rose 5%, keeping the DFMGI from falling in line with the downturn in most other stocks. Today, Emirates NBD fell almost 5%, dragging the index down 0.4% to 5751 points despite most of the actively traded stocks rising 0-2%. Total turnover was a relatively moderate AED 1.7 billion.

The top 4 gainers rose on very little trading with none seeing turnover more than AED 1m. Islamic Arab Insurance (IAIC) was the best of the more active gainers, rising just 1.4% to 3.74. Du Telecom (DU) rose 1.35% to 6.01, GULFNAV up 1.2% and Emaar Properties (EMAAR) up 1.1% to 13.65. AIRARABIA, Commercial Bank of Dubai (CBD), Dubai Investments (DIC), DEYAAR, and Union Properties (UPP) all rose less than 1%.

As mentioned, Emirates NBD (ENBD) fell 4.8% to 13.90 and was the top loser, apart from ASCANA on thin trading. AMAN fell 2.05 % to 28.65, Arabtec (ARTC), Amlak Finance (AMLAK), and Dubai Islamic Bank (DIB) all fell less than 1%.

Abu Dhabi Securities Market

The ADSMI rose slightly during today's session to close up by 0.17% at 4520 points with turnover of AED 1.5 billion. Aldar Properties (ALDAR), Sorouh Real Estate (SOROUH), and ARKAN made up over AED 1 billion of that total between them, with Aldar up 1.4% to 11.30, and Sorouh and Arkan up 1% to 8.23 and 4.12 respectively.

FH was the star gainer today, rising a solid 8.8% to 8.10 from AED 10.6 million of turnover which is more than we usually see from them. NBS also stood out with a 4.5% increase to 3.77 and a very high turnover (for them) of AED 58m. No news has been seen to explain the increased interest. ADAVIATION, up 3.9%, and Abu Dhabi Commercial Bank (ADCB) up 1.3% were the remaining gainers trading more than AED 1m worth.

Oasis Leasing (OILC) topped the active losers list with a fall of just 1.15% to 2.58. The top 4 losers fell on thin trading. Etisalat (ETISALAT) was down by 0.85% to 23.20. The remaining 10 losers fell less than 1% each.

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