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There are about 57 companies listed (as of August 2007) on DFM, most of them are UAE-based companies and a few dual listings for companies based in other MENA region countries. Many companies allow foreigners to own their shares. Total market cap is around $360bn, which is roughly equal to the market cap of Abu Dhabi Securities Market ($380bn) (as of August 2007). In comparison, the market cap for ExxonMobil (as of Oct. 2008) is $360bn. During 2004 and 2005, there were significant increases in the volume of shares traded and the share prices of many companies. However, towards the end of 2005 and through the first few months of 2006 the bubble burst and share values dropped by around 60% on DFM, along with similar decreases in most other Persian Gulf stock markets. DFM is one of three stock exchanges in the UAE. Abu Dhabi Securities Exchange (ADX) also lists mostly UAE companies and the recently opened Dubai International Financial Exchange (DIFX) was set up to trade international stocks. DFM is majority owned by Borse Dubai, with 20% of the DFM's shares listed on the DFM platform. |
![Five abandoned horses on a property in southwest France may have foreshadowed the Dubai crisis. One day at the start of the year, the stable doors were found wide open and the horses running free. The local vet is concerned not only for the horses, but for the general public. [Catherine Ghys,Veterinarian]: "It can be very very dangerous, yes, if they go onto the road they can cause an accident,and horses giving birth in the wild is not very reassuring." The 25 hectare property in the small town of Astaffort had been bought by a Dubai Sheik in 2006. But a planned house was never built and the Sheik never came. In light of Dubai's recently emerged financial woes, the local townspeople can guess why. Dubai's crisis exploded last week when the Emirate - known for extravagant properties and lifestyles - said it would delay payment on debt issued by one of its flagship firms. This sent global markets sharply down and angered investors. The mayor of Astaffort was also angry - but at the treatment of the horses. [Andre Garros, Mayor of Astaffort]: "I think it is disgusting, to abandon horses like that, it really is. You can't have a heart to abandon animals. I hope that these animals can find a good home." The embassy of the United Arab Emirates has now agreed to let the horses be auctioned.](https://i.ytimg.com/vi/z3JCq7IEvw8/0.jpg)
![The Muscat Securities Market felt the impact of the Dubai Loans Crisis on the first day of trading. It follows the Sultanate of Oman's National Day and Eid Al-Adha Holidays. The index fell by 75 points at the end of trading to 6.282 points. Trading volumes amounted to 17 million Omani Rials only. The drop came after some banks disclosed their exposure to Dubai World Company. Bank Muscat's exposure amounted to around 20 million Omani Rials, making it the largest hit bank in Oman with share trading down by about 8 percent. Analysts say the Muscat Securities Market is likely to recover, especially after the Omani Capital Market Authority forced all listed companies to disclose their exposure. This made investors feel more comfortable. [Hani Yousuf, International Holding Financial Investment]: "We have seen marked fall in banks shares, especially after the spread of information of relations of some banks with Dubai World. Of course, there has been a psychological impact. For us, the long Eid holiday may have played a role in partially reducing the psychological impact." Banks and investment sector led the market to fall because several investors refrained from purchasing bank shares that disclosed their exposure to Dubai World. Many investors see that as an opportunity to acquire shares at low prices. [Ahmed Al-Bulushi, Investor]: "There was limited impact of the Dubai Loans Crisis at the beginning of the day today. There was limited impact of the crisis on commercial banks <b>...</b>](https://i.ytimg.com/vi/cQBhx0Bmsno/0.jpg)
