UAE markets 03 Feb 2008

UAE market news & discussions for 03 February 2008 Both UAE markets recorded strong gains today. The DFM index was up by 3% and the ADSM index was up by 2.59%. Volume was steady on both markets with the DFM leading the way with 598 million shares being traded. AMLAK rose by over 7% on news that it had bought land from the Dubai Government in AL Warqa. FGB was the stand out share on the ADSM rising 6% to 23.65. General Business News Drake and Scull International is aiming to be listed on the DFM in Q2 2008. Pricing details or size of the offer are not known. EMAAR MGF has received offers for 16% of the IPO issue mostly at the lower end of the pricing band. Market volatility rather than the perceived quality of the offer is being blamed for the slow take up. The US Dollar fell for a second straight week against the EURO after the Federal Reserve lowered its benchmark lending rate to 3%. Announcements: ADIB: General asembly meeting 4 March 2008. FH: BOD meeting to be held 28 February 2008. TABREED: BOD meeting to be held 28 February 2008.

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• AMLAK - land grant from Dubai Government - PR 02 Feb 08
• ADCB FGB UNB report Morgan Stanley - PR 02 Feb 2008
• UAE Economic Forecast for FY2008 31 Jan 08
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• 02 February 2008 shares and financial news for DFM and ADSM
• Sheikh Hamdan - Crown Prince Dubai - 01 Feb 08
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• TAQA 2007 FY profit AED 1bn +106% 31 Jan 2008
• TAQA 2007 Q3 profit AED 130m +115%, M9 380m +47% 31 Oct 2007
• AEIBANK 2007 FY profit AED 26m -26% Q4 13m +944% - 31 Jan 2008
• AEIBANK 2007 Q3 profit AED 1.4m -81%, M9 13m -62% 08 Nov 2007
• AEIBANK 2007 Q2 profit AED 4.3m -81%, H1 12m -57% 13 Aug 2007
• 01 February 2008 shares and financial news for DFM and ADSM
• NCC uses old car tyres for energy - KT 31 Jan 08
• 31 January 2008 shares and financial news for DFM and ADSM
• RAKPROP 2007 FY profit AED 500m +5% 31 Jan 2008

More UAE stock market news and discussions...

best stock rises symbol price change UNION 3.21 +0.29 +9.9% NCTH 9.65 +0.85 +9.7% DRIVE 5.07 +0.42 +9% AMLAK 4.70 +0.32 +7.3% RAPCO 3.85 +0.25 +6.9%

worst stock falls symbol price change FBICO 3.20 -0.35 -9.9% GRAND 4.50 -0.10 -2.2% ADAVIATION 3.76 -0.07 -1.8% NCC 11.10 -0.10 -0.9% RAKCC 2.11 -0.01 -0.5%

top volume symbol value (AED) price DFM 877,220,240 6.12 EMAAR 534,065,051 12.40 ALDAR 364,770,551 10.75 DIC 258,920,377 5.82 DEYAAR 239,566,872 2.62

Dubai Financial Market

The DFM index closed at 5,785 a rise of 3.03% from the previous close. 598 million shares were traded worth 3 billion dirhams. Twenty two shares advanced and three declined.
The top traded share was DFM rising 5.88% to 6.12 dirhams on volume of 145 million shares traded.

Other shares to rise included: AIRARABIA 2.01 (3.07%), Amlak Finance (AMLAK) 4.70 (7.30%), ARAMEX 2.97 (4.94%). DEYAAR 2.62 (3.14%), Dubai Investments (DIC) 5.82 (4.11%) and Emaar Properties (EMAAR) 12.40 (3.33%).

GGICO 11.65 and GRAND 4.50 both fell on small volumes traded.

Abu Dhabi Securities Market

The ADSM closed at 4,688 a rise of 2.59% from the previous close. 279 mllion shares were traded worth 1.4 billion dirhams. Thirty seven shares advanced and five declined.
The top traded share was Dana Gas (DANA) rising 3.04% to 2.37 dirhams on volume of 55 million shares traded.

Other shares to rise included: Aabar Petroleum (AABAR) 4.55 (3.00%), Aldar Properties (ALDAR) 10.75 (4.88%), Oasis Leasing (OILC) 2.66 (3.10%), RAK Properties (RAKPROP) 2.59 (4.44%), First Gulf Bank (FGB) 23.65 (6.05%) and Etisalat (ETISALAT) 24.25 (4.66%).

Shares to fall included: RAK Cement (RAKCC) 2.11 (0.47%) and Union National Bank (UNB) 9.94 (0.20%) on minor volumes traded.

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