UAE markets 23 Dec 2007

UAE market news & discussions for 23 December 2007 A strong post EID break day on UAE markets today. The DFM index was up 1.61% to 5,829 and the ADSM index was up 1.31% to 4,580. DEYAAR was the top traded share on the DFM rising 0.68% to 2.96 dirhams on volume of 72 million shares. RAKPROP was the top traded share on the ADSM rising 2.74% to 2.25 dirhams on volume of 103 million shares. In other news a report in the Times Online suggested Abu Dhabi was to launch a Pan Arabian newspaper creating the print equivalent of Al Jazeera in March 2008. UAE dirham revaluation 60% likely by July 2008 according to EFG Hermes.

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best stock rises symbol price change DHAFRA 6.60 +0.60 +10% FH 10.65 +0.95 +9.8% GFH 11.75 +0.95 +8.8% DRIVE 4.44 +0.29 +7% ADSB 0.00 +0.30 +-100%

worst stock falls symbol price change TKFL 5.65 -0.35 -5.8% DNIR 4.18 -0.21 -4.8% ASCANA 2.20 -0.10 -4.3% OEIHC 35.40 -1.25 -3.4% RAKCEC 4.72 -0.08 -1.7%

top volume symbol value (AED) price SOROUH 631,400,165 8.57 EMAAR 594,915,572 14.00 DFM 493,963,316 6.85 ALDAR 431,511,571 12.05 DU 287,073,950 6.28

Dubai Financial Market

the DFM index closed at 5,829 today a rise of 1.61% from the previous close. 444 million shares were traded worth 2.4 billion dirhams. Nineteen stocks advanced and six declined.
The top traded stocks were DEYAAR rising 0.68% to 2.96 dirhams on volume of 72 million shares and DFM rising 3.47% to 6.85 dirhams on volume of 72 million shares also.

Other shares to rise included: Amlak Finance (AMLAK) 4.90 (1.65%), AIRARABIA 1.95 (1.03%), Du Telecom (DU) 6.28 (3.97%), Emaar Properties (EMAAR) 14.00 (2.56%), GULFNAV 1.70 (1.79%) and Tabreed (TABREED) 3.40 (3.97%).

The only share to fall on volume was Tamweel (TAMWEEL) down 0.13% to 7.22 dirhams with 22 million shares trading.

Abu Dhabi Securities Market

The ADSM index closed at 4,580 today a rise of 1.31% from the previous close. 351 million shares were traded worth 1.9 billion dirhams. Twenty nine stocks advanced and eight declined.
The top traded share was RAK Properties (RAKPROP) rising 2.74% to 2.25 dirhams on volume of 103 million shares. NBS rose 5.25% to 4.01 dirhams on volume of 85 million shares.

Other shares to rise included: Aldar Properties (ALDAR) 12.05 (4.33%), ARKAN 4.13 (3.77%), Dana Gas (DANA) 2.17 (1.40%), Oasis Leasing (OILC) 2.66 (0.38%) and Etisalat (ETISALAT) 23.40 (1.96%).

Shares to fall included: Gulf Cement (GCEM) 6.17 (0.32%), National Bank of Abu Dhabi (NBAD) 22.90 (0.65%) and Union National Bank (UNB) 9.19 (1.50%).

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