UAE markets 14 Jan 2008

UAE market news & discussions for 14 January 2008 Despite the DFM being closed the ADSM had a very strong trading day with the index rising 1.77% to 4,892. 699 million shares changed hands worth AED 2.6 billion. The top traded share was RAKPROP rising 3.55% to 2.92 dirhams on volume of 177 million. Banks had another strong day with the standouts being Bank of Sharjah (BOS) rising 3.77% and National Bank of Sharjah (NBS) rising 6.24%. In other news: According to Moody's the six Gulf states have the potential to raise up to $50 billion through corporate bonds during the next 12 to 18 months. To underscore this Limitless is looking to borrow $1.2 billion via local and foreign banks using an Islamic facility. Abu Dhabi has followed Dubai in imposing a 5% rent cap for 2008. Landowners are being asked to help control inflation by accepting less than a market rate for rental properties. Apparently other sectors of the economy are keeping prices down voluntarily.

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best stock rises symbol price change WARE 22.00 +2.45 +12.5% UIC 6.05 +0.55 +10% OEIHC 34.85 +2.70 +8.4% ADSB 4.95 +0.34 +7.4% EIC 9.47 +0.60 +6.8%

worst stock falls symbol price change ARIG 3.30 -0.20 -5.7% FCI 4.90 -0.20 -3.9% NCC 10.70 -0.30 -2.7% DRIVE 5.12 -0.13 -2.5% IAIC 4.09 -0.10 -2.4%

top volume symbol value (AED) price RAKPROP 518,713,713 2.92 DANA 432,465,525 2.70 AABAR 284,623,302.40 4.68 ALDAR 244,751,055.10 12.15 OILC 237,620,309.99 2.88

Dubai Financial Market

Closed for the visit of the President of the United States of America.

Abu Dhabi Securities Market

The ADSM index closed at 4,892 a rise of 1.77% from the previous close. 699 million shares were traded worth 2.6 billion dirhams. Thirty seven shares advanced and four declined.
The top traded share was RAK Properties (RAKPROP) gaining 3.55% to 2.92 dirhams on volume of 177 million. This was closely followed by Dana Gas (DANA) rising 3.45% to 2.70 dirhams on volume of 159 million.

Other shares to rise included: Aabar Petroleum (AABAR) 4.68 (0.43%), Aldar Properties (ALDAR) 12.15 (1.67%), Bank Of Sharjah (BOS) 3.85 (3.77%), AGTHIA 2.35 (3.07%), Oasis Leasing (OILC) 2.88 (1.05%), NBS 4.77 (6.24%), Abu Dhabi National Energy (TAQA) 4.07 (1.50%) and Etisalat (ETISALAT) 24.05 (1.05%).

Shares to fall included: DRIVE 5.12 (2.48%), FCI 4.90 (3.92%) and RAK White Cement (RAKWCT) 2.35 (0.42%).

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