UAE markets 07 Jan 2008

UAE market news & discussions for 07 January 2008 A divided day on UAE markets with the DFM index falling 0.73% to 6,145 and the ADSM rising 0.46% to 4,765. On the DFM, AIRARABIA was the top traded share falling 0.96% to 2.05 dirhams on volume of 98 million. ARTC defied the trend and finished up 1.22% at 9.92 dirhams. On the ADSM, DANA topped trading rising 5.60% to 2.64 dirhams on massive volume of 299 million shares traded. RAKPROP was second rising 3.68% to 2.82 dirhams on trading volume of 255 million. In other news: According to Nomura securities the Gulf markets will continue to attract foreign investors seeking to tap into the regions economic boom. The ADSM/DFM will be closed Thursday 10 January to mark the Islamic New Year. Emirates Airline Sunday annouced it was willing to sell all or part of its near 44% stake in Sri lanka's national carrier after terminating its management contract. State owned Emirates Post (EMPOST) plans to sell up to 40% stake to the public in the seconf half of 2008.

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best stock rises symbol price change WARE 22.00 +2.45 +12.5% QTEL 258.80 +23.10 +9.8% FOODCO 4.79 +0.39 +8.9% DANA 2.64 +0.14 +5.6% AABAR 4.31 +0.22 +5.4%

worst stock falls symbol price change RAPCO 3.26 -0.34 -9.4% NMDC 7.25 -0.65 -8.2% GMPC 5.80 -0.41 -6.6% AEIBANK 1097.15 -57.85 -5% ASCANA 2.28 -0.11 -4.6%

top volume symbol value (AED) price DANA 790,303,298 2.64 RAKPROP 721,608,059 2.82 EMAAR 661,552,179 15.50 AABAR 591,230,285 4.31 AMLAK 376,163,195 5.64

Dubai Financial Market

The DFM index closed at 6,145 down 0.73% from the previous close. The volume of shares traded was 574 million worth 2.9 billion dirhams. Six stocks advanced and sixteen declined.
AIRARABIA was the top traded share losing 0.96% to 2.05 dirhams on volume of 98 million shares.

Other shares to fall included: Amlak Finance (AMLAK) 5.64 (1.05%), DEYAAR 2.93 (0.67%), DFM 6.61 (0.75%), Dubai Investments (DIC) 5.82 (1.18%), Emaar Properties (EMAAR) 15.50 (1.27%) and GULFNAV 1.70 (1.73%)

Shares to rsie included: Arabtec (ARTC) 9.92 (1.22%), Shuaa Capital (SHUAA) 6.95 (1.31%) and WARE rose 12.5% on one trade.
Islamic Arab Insurance (IAIC) fnished unchaged on 4.05 dirhams on volume traded of 71 million shares.

Abu Dhabi Securities Market

The ADSM index closed at 4,765 a rise of 0.46% from the previous close despite a late start to trading. The volume of shares traded was one billion worth 3.5 billion dirhams. Twenty three stocks advanced and seventeen declined.
Dana Gas (DANA) topped trading rising 5.60% to 2.64 dirhams on massive volume of 299 million shares. RAK Properties (RAKPROP) was also up 3.68% to 2.82 dirhams on volume of 255 million shares.

Other shares to rise included: Aabar Petroleum (AABAR) 4.31 (5.38%), ARKAN 3.97 (0.25%), Bank Of Sharjah (BOS) 3.38 (2.42%), AGTHIA 2.32 (3.57%), RAK Cement (RAKCC) 2.39 (4.37%) and Abu Dhabi National Energy (TAQA) 4.09 (1.74%)

Shares to fall included: Etisalat (ETISALAT) 24.00 (0.21%), Aldar Properties (ALDAR) 12.00 (0.83%), First Gulf Bank (FGB) 23.65 (0.42%) and Sorouh Real Estate (SOROUH) 8.71 (0.80%).

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