UAE markets 04 Feb 2008

UAE market news & discussions for 04 February 2008 The UAE markets continued to rise today. Both indicies were up over 1% with particularly strong trading volume on DFM. On the DFM, AIRARABIA rose 5.47% with 243 million shares traded, AMLAK rose 9.36% with 133 million shares traded and DU rose 13.09% with 47 million shares traded. On the ADSM, ALDAR rose over4% with 24 million shares traded and FGB rose 2.96%. General Business News Abu Dhabi is to grow by 8.2% in 2008 and an average of 13% in the years to follow according to officials at the Abu Dhabi Economic Forum. From the Forum again it has emmerged the Abu Dhabi government is considering changing the foreign investment regulations to allow foreigners to own more than 49% of UAE companies in certain sectors. The Emirates Secuirites Commodities Authority (ESCA) is considering a proposal to produce standard regulations controlling the valuation of shares in the UAE. Anything to improve the quality of company research in the UAE should be welcomed by all investors. Announcements: FGB is proposing to issue a convertible bond of up to $2.5 billion. The proposal will be put to an EGM 25 February 2008.

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best stock rises symbol price change ACICO 7.30 +0.95 +15% GLOBAL 16.65 +2.15 +14.8% DU 6.65 +0.77 +13.1% NCTH 10.60 +0.95 +9.8% UNION 3.52 +0.31 +9.7%

worst stock falls symbol price change FBICO 2.88 -0.32 -10% ADSB 4.70 -0.30 -6% FOODCO 3.96 -0.24 -5.7% NCC 10.55 -0.55 -5% DRC 16.00 -0.75 -4.5%

top volume symbol value (AED) price AMLAK 662,751,007 5.14 DFM 536,866,129 6.03 EMAAR 509,678,915 12.50 AIRARABIA 503,009,527 2.12 DEYAAR 309,115,243 2.66

Dubai Financial Market

The DFM index closed at 5,855 a rise of 1.21% from the previous close. 860 million shares were traded worth 3.7 billion dirhams. Twenty two shares advanced and eight declined.
The top traded share was AIRARABIA rising 5.47% to 2.12 dirhams on volume of 243 million shares traded. Amlak Finance (AMLAK) was also up 9.36% to 5.14 dirhams on volume traded of 133 million.

Other shares to rise included: Du Telecom (DU) 6.65 (13.09%), DEYAAR 2.66 (1.52%), Dubai Investments (DIC) 5.84 (0.34%), Emaar Properties (EMAAR) 12.50 (0.80%), GULFNAV 1.57 (0.64%) and Union Properties (UPP) 4.90 (5.60%).

Shares to fall included: DFM 6.03 (1.47%), Islamic Arab Insurance (IAIC) 3.85 (0.51%), Dubai Islamic Bank (DIB) 11.30 (0.44%) and Arabtec (ARTC) 11.20 (0.44%).

Abu Dhabi Securities Market

The ADSM index closed at 4,736 a rise of 1.03% from the previous close. 217 million shares were traded worth 1.08 billion dirhams. Twenty seven shares advanced and sixteen shares declined.
Dana was the top traded share rising 1.69% to 2.41 dirhams on volume of 42 million shares traded.

Other shares to rise included: Aldar Properties (ALDAR) 11.20 (4.19%), Aabar Petroleum (AABAR) 4.54 (1.57%), RAK Properties (RAKPROP) 2.61 (0.77%), Abu Dhabi National Energy (TAQA) 3.65 (3.63%) and First Gulf Bank (FGB) 24.35 (2.96%).

Shares to fall included: NBS 4.04 (1.22%), AGTHIA 2.08 (0.95%) and ARKAN 3.51 (0.57%).

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