UAE markets 05 Feb 2008

UAE market news & discussions for 05 February 2008 A slight rise for both UAE markets today. The DFM index finished up 0.20% and the ADSM index closed 0.33% up. Trading on the DFM was dominated by AIRARABIA falling 1.41% on 158 million shares traded. Other shares to fall on heavy volume included DFM, DEYAAR and AMLAK. On the ADSM, the top traded share was AABAR rising 2.42% to 4.65 dirhams on volume of 79 million shares traded. Other Business News The Dirham revaluation story rolls on this time the Dubai Chamber of Commerce and Industry (DCCI) speculating that the Dirham will be revalued as part of the move towards the GCC monetary union. The DFM is attracting largert amounts of Foreign Institutional Investment with foreign money accounting for 25 to per cent of all trades each day. However, it is thought it is relatively hot money moving quickly and is not contributing to the stability of the market. Australia's Reserve bank raised rates to 7% today indicating that a possible recession in the USA will not impact the economy as badly as in the past. Results ADCB 2007 FY Net profit 2.08b down 3% from 2006 FY Net profit Announcements: Amlak is looking for a 70% increase in net profits for 2008 according to the Chairman.

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• FOODCO 2007 Q3 profit AED 1.2m -73%, M9 0.58m -99% 30 Aug 2007
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More UAE stock market news and discussions...

best stock rises symbol price change RAPCO 4.13 +0.28 +7.3% SOROUH 9.08 +0.45 +5.2% ASMAK 6.54 +0.32 +5.1% TAQA 3.81 +0.16 +4.4% QTEL 276.30 +10.60 +4%

worst stock falls symbol price change GMPC 8.00 -0.80 -9.1% QCEM 3.09 -0.30 -8.8% GRAND 4.20 -0.30 -6.7% NMDC 7.61 -0.44 -5.5% OEIHC 39.65 -1.25 -3.1%

top volume symbol value (AED) price DFM 553,699,221 6.00 SOROUH 510,670,139 9.08 EMAAR 415,092,679 12.60 AMLAK 370,781,221 5.01 AABAR 369,165,303 4.65

Dubai Financial Market

The DFM index closed at 5,867 a rise of 0.20% from the previous close. 603 million shares were traded worth 2.9 billion dirhams. Five shares advanced and 15 declined.
The top traded share was AIRARABIA falling 1.41% to 2.09 dirhams on volume of 158 million shares traded.

Other shares to fall included: GULFNAV 1.55 (1.27%), DFM 6.00 (0.49%), DEYAAR 2.63 (1.12%) and Amlak Finance (AMLAK) 5.01 (1.41%).

Shares to rise included: ARAMEX 3.14 (3.97%), Dubai Islamic Bank (DIB) 11.50 (1.76%), Emaar Properties (EMAAR) 12.60 (0.80%) and Union Properties (UPP) 4.93 (0.61%).

Abu Dhabi Securities Market

The ADSM index closed at 4,752 a rise of 0.33% from the previous close. 364 million shares were traded worth 1.9 billion dirhams. Twenty two shares advanced and nineteeen declined.
The top traded sare was Aabar Petroleum (AABAR) rising 2.42% to 4.65 dirhams on volume of 79 million shares traded.

Other shares to rise included: Aldar Properties (ALDAR) 11.45 (2.23%), Dana Gas (DANA) 2.42 (0.41%), RAK Properties (RAKPROP) 2.68 (2.68%), Sorouh Real Estate (SOROUH) 9.08 (5.21%) and Abu Dhabi National Energy (TAQA) 3.81 (4.38%).

Shares to fall included: Abu Dhabi Commercial Bank (ADCB) 6.85 (0.44%), Etisalat (ETISALAT) 23.95 (1.24%), Oasis Leasing (OILC) 2.65 (0.38%) and NBS 4.00 (0.99%).

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