UAE markets 20 Jan 2008

UAE market news & discussions for 20 January 2008 After a generally positive start to 2008 both UAE markets sufffered heavy losses today. Both The DFM and ADSM index closed over 3% lower with all of the most popular shares on both markets joining in the fall. On the DFM, AIRARABIA fell by over 4%, DFM fell by over 6% and AMLAK, ARAMEX, DEYAAR and EMAAR all fell by over 3%. On the ADSM, DANA fell by nearly 5%, FGB and NBS fell by over 6% and AABAR, ETISALAT, OILC and ALDAR all fell by over 2%. RESULTS: ARABTEC: 2007 FY Net Profit AED 494m compared to 2006 FY Net Profit of 217m. Earnings per share stood at AED 0.82. 2007 4Q Net Profit rose to AED 151m compared to 2006 4Q Net Profit of AED 58. ARTC share price finished down 2.70% at 10.80 dirhams. TAMWEEL and OILC results should also be available shortly. Business News: According to a study prepared by Global Futures and Foresight, between Abu Dhabi and Dubai, $512b has been committed to major leisure development projects. In a probable boost for UAE markets, according to Morgan Stanly the US based investment bank, the UAE is working on legislation to allow Exchange Traded Funds (EFT's) to be listed on UAE markets. This should improve liquidity and access for all investors.

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• AGTHIA buys Al Ain Vegetable Processing & Canning Factory 17 Jan 08
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• DFM share's heaviest loss in a day 17 Jan 08
• NBAD increases stake in AABAR - R 17 Jan 08
• Emaar in 2008 13 Jan 08
• ADSM signs deal with Tokyo Stock Exchange - TF 17 Jan 08

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best stock rises symbol price change GULFA 2.20 +0.20 +10% OEIHC 35.00 +3.00 +9.4% ASMAK 6.50 +0.43 +7.1% OIC 11.00 +0.50 +4.8% TKFL 6.15 +0.25 +4.2%

worst stock falls symbol price change DRIVE 5.13 -0.56 -9.8% ADNH 8.76 -0.94 -9.7% UAB 7.00 -0.54 -7.2% TAMWEEL 6.50 -0.50 -7.1% FGB 23.40 -1.65 -6.6%

top volume symbol value (AED) price EMAAR 568,345,390 13.95 DFM 411,384,908 5.46 AIRARABIA 256,109,963 2.05 DEYAAR 229,926,053 2.80 ALDAR 191,474,387 11.10

Dubai Financial Market

the DFM index closed at 5,868 today a fall of 3.17% from the previous close. 491 million shares were traded worth 2.4 billion dirhams. Five shares advanced and twenty three declined.
The top traded share was AIRARABIA falling 4.20% to 2.05 dirhams on volume of 123 million.

All of the most popular shares led the decline including: Amlak Finance (AMLAK) 5.03 (3.63%), Arabtec (ARTC) 10.80 (2.70%), ARAMEX 3.10 (3.12%), DEYAAR 2.80 (3.11%), DFM 5.46 (6.18%), Dubai Investments (DIC) 5.70 (2.89%) and Emaar Properties (EMAAR) 13.95 (3.79%), GULFNAV 1.62 (2.40%) and Tamweel (TAMWEEL) 6.50 (7.14%)

A few shares managed to finish in positive territory on small volumes including: Global Investment House (GLOBAL) 15.10 (0.66%), Commercial Bank of Dubai (CBD) 13.00 (0.38%) and Arab Insurance Group (ARIG) 3.45 (2.37%).

Abu Dhabi Securities Market

The ADSM closed at 4,691 today a fall of 3.12% from the previous close. 182 million shares were traded worth 907 million dirhams. Six shares advanced and thirty three declined.
The top traded share was Dana Gas (DANA) falling 4.76% to 2.40 dirhams on volume of 36 million.

Other shares to decline included: Aabar Petroleum (AABAR) 4.65 (2.92%), Aldar Properties (ALDAR) 11.10 (3.48%), First Gulf Bank (FGB) 23.40 (6.59%), Etisalat (ETISALAT) 23.40 (2.30%), Oasis Leasing (OILC) 2.70 (2.17%), RAK Properties (RAKPROP) 2.69 (5.61%) and NBS 4.42 (6.36%).

Shares to rise on small volumes included: NBQ 8.25 (3.13%) and ASMAK 6.50 (7.08%).

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