UAE markets 16 Jan 2008

UAE market news & discussions for 16 January 2008 After the excitement of yesterday both markets headed lower today. The DFM index fell 2.37% and the ADSM index fell by just over one percent. Volume was lower with 642 million shares trading on the DFM and 239 million on the ADSM. The top traded share on the DFM was AIRARABIA falling 2.26% to 2.16 dirhams. ARTC also fell 6.14% to 10.70 dirhams on modest volume of 5 million shares traded. The top traded share on the ADSM was DANA falling 3.00% to 2.59 dirhams on volume of 57 million traded. EMAAR RESULTS 2007 annual net profit was AED 6.575b, up 3% from 2006. Earnings per share rose from 2006 1.05 to 2007 1.08. revenue grew to AED 17.566b up 25% 2007 Q4 net profit was AED 1.736b up 11% from 2007 Q3. Profit Margin for 2007, 37.4% down from 45% for 2006. In other news: Damas plans to sell a minority portion of its shares to the public by the end of 2008. The IPO could be valued at between DH 3.5b and 4.5b. More dollar/dirham peg speculation as the dollar drops to a new low against the Japanese yen. Some banks in the UAE have stopped issuing letters of credit to Iranian companies. Iranian companies have been incorporating in the UAE to try and avoid sanctions.

• What to trade?
• EMAAR 2007 FY profit AED 6.57 bn +3.1% 16 Jan 2008
• Emaar in 2008 13 Jan 08
• Dubai Financial Market General Index (DFMGI) Comments 01 Dec 07
• DP World report Shuaa FV $1.47 [BUY] 07 Jan 08
• Tamweel in 2008 18 Dec 07
• Arabtec - Morgan Stanley report? - KT 16 Jan 08
• DFMGI is targeting 6750 Mark 15 Jan 08
• AABAR to sell Pearl Energy for AED 3.2 bn? 13 Jan 08
• DP World share price falling - Jan 2008
• Air Arabia correction due? Jan 2008
• DIB 2007 FY profit forecast AED 2.3 billion
• 16 January 2008 financial and business news for the UAE
• DANA - Iran says gas coming in 2008 - MNA 05 Dec 07
• Deyaar in 2008 13 Jan 08
• ARTC 2007 FY profit and revenue forecasts
• TAMWEEL CEO resignation effective 15 Jan 2008?
• AABAR profit from Dalma sale falls from AED 1 bn to 350m? - 13 Jan 08
• 2007 Q4 FY financial results forecasts - UAE
• Dow Jones MSM Index launched 14 Jan 08
• DPW to announce 2007 results on Sunday 13th January
• 15 January 2008 Dubai Abu Dhabi UAE financial news
• Drake & Scull IPO
• Emirates International Securities - Sharjah branch?
• Top stock picks January 2008

More UAE stock market news and discussions...

best stock rises symbol price change GMPC 8.03 +0.73 +10% MAZAYA 9.50 +0.50 +5.6% CBD 12.35 +0.55 +4.7% NBS 4.92 +0.18 +3.8% DIN 30.50 +1.00 +3.4%

worst stock falls symbol price change FOODCO 4.21 -0.33 -7.3% ARTC 10.70 -0.70 -6.1% FH 10.00 -0.50 -4.8% EMAAR 14.60 -0.70 -4.6% UNB 10.10 -0.40 -3.8%

top volume symbol value (AED) price EMAAR 1,382,633,871 14.60 DIC 459,146,727 5.92 DIB 359,051,897 11.75 AIRARABIA 343,548,835 2.16 TAMWEEL 334,386,256 7.11

Dubai Financial Market

the DFM idex clsed at 6,142 a fall of 2.37% from the previous close. 642 million shares were traded worth 3.8 billion dirhams. Seven shares advanced and twenty two declined.

The top traded share was AIRARABIA falling 2.26% to 2.16 dirhams on volume of 158 million. ARABTEC after rising over 14% yesterday fell 6.16% today to 10.70 dirhams on modest volume of 5.8 million shares traded.

Other shares to fall included: AMLAk 5.47 (2.84%), DEYAAR 2.92 (1.35%), DFM 6.40 (3.46%), Dubai Investments (DIC) 5.92 (3.73%), Emaar Properties (EMAAR) 14.60 (4.57%), GULFNAV 1.69 (2.87%) and Tamweel (TAMWEEL) 7.11 (2.06%).

Shares to rise on modest volume included: Shuaa Capital (SHUAA) 7.01 (0.28%), MAZAYA 9.50 (5.55%) and Commercial Bank of Dubai (CBD) 12.35 (4.66%).

Abu Dhabi Securities Market

The ADSM index closed at 4,800 a fall of 1.02% from the previous close. 239 million shares were traded worth 1.2 billion dirhams. Seven shares advanced and twenty nine declined.

The top traded share was Dana Gas (DANA) falling 3.00% to 2.59 dirhams on volume of 57 million shares.

Other shares to fall included: Aabar Petroleum (AABAR) 4.69 (1.47%), Aldar Properties (ALDAR) 11.65 (2.10%), Oasis Leasing (OILC) 2.82 (1.05%) and RAK Properties (RAKPROP) 2.86 (1.72%).

Shares to rise included: NBS 4.92 (3.80%), RAK Ceramics (RAKCEC) 5.10 (1.59%), and Abu Dhabi ShipBuilding (ADSB) 5.00 (0.60%).

Etisalat finished steady on 24.35 dirhams.

• Comment on this report and view previous reports on the Share Wadi blog.
• Discuss UAE companies at Dubai Share Talk.