UAE markets 12 Feb 2008

UAE market news & discussions for 12 February 2008 The DFM rose slightly on modest turnover with Du Telecom rising the most today. The ADSM index barely changed but Arkan Building Materials stood out with a good gain. DPW shares are the only ones trading on the DIFX so far today, and falling by $0.01 to $0.81. It looks like Emaar's BOD proposed a 20% dividend and AGM date of 19 March 2008. We're sorry to see that Emaar doesn't think their international investors are important enough to deserve a disclosure in English, while smaller, more obscure companies make much greater efforts to comply with DFM requests to publish disclosures in both Arabic and English. A curious story appeared in the Daily Telegraph in the UK that Grosvenor Casinos is taking the National Bank of Abu Dhabi to court over some bounced cheques for about AED 50 million. NBAD this week announced the issue of AED 2 billion of bonds. Hopefully it won't all be needed for their court costs. Ajman Bank, or Ajman Islamic Bank, will launch their AED 550 million IPO from 17-27 Feb 2008, with shares priced at 1 dh each. Foreigners can subscribe for up to 100 million shares. Meeting dates announced today Al Ain Ahlia Insurance AGM on 05 March 2008 Bank of Sharjah AGM on 05 March 2008 Emirates Insurance Company BOD meeting on 17 February 2008 National General Insurance AGM 04 March 2008 Sharjah Islamic Bank (NBS) AGM on 06 March 2008 RAK White Cement Company BOD meeting on 28 February 2008 Sharjah Insurance Company AGM on 10 March 2008 Union Insurance Company BOD meeting on 20 February 2008 Union National Bank AGM on 05 March 2008 2007 FY results updates Sharjah Insurance Company full financial statements released DubaiShareTalk latest updates

• 12 February 2008 shares and financial news for DFM and ADSM
• Ajman Bank IPO
• Emaar withdraws IPO, blames choppy market 10 Feb 08
• Mutual Funds - NBAD AJAJ Gulf Fund
• What to trade for Feb 08?
• Where is EMAAR price heading to?
• 11 February 2008 shares and financial news for DFM and ADSM

More UAE stock market news and discussions...

best stock rises symbol price change ADSB 4.32 +0.32 +8% OEIHC 40.40 +2.50 +6.6% NBQ 9.85 +0.50 +5.3% ARKAN 3.74 +0.16 +4.5% ALDAR 11.10 +0.35 +3.3%

worst stock falls symbol price change FBICO 2.34 -0.26 -10% ADNIC 9.70 -0.85 -8.1% FOODCO 3.61 -0.27 -7% AKIC 1.65 -0.12 -6.8% UNION 3.28 -0.21 -6%

top volume symbol value (AED) price EMAAR 360,751,629 11.30 ALDAR 270,538,178 11.10 ARKAN 207,544,488 3.74 DFM 186,445,653 5.60 AABAR 160,454,753 4.67

Dubai Financial Market

It was a subdued day on the DFM with a rise of 0.6% to 5632 from turnover of just over AED 1 billion. Du Telecom (DU) was the biggest gainer, rising by 3% to 6.46. Shuaa Capital (SHUAA) rose 2.5% to 6.51, Amlak Finance (AMLAK) and Islamic Arab Insurance (IAIC) each rose 2.1%, and most of the remaining actively traded stocks were up by less than 2%. Emaar Properties (EMAAR) rose just 0.9% to 11.30.

There were only 4 losers - NGI and ALFIRDOUS down 5% and 3% respectively from 2 small trades each, Aramex (ARMX) down by 1%, and GGICO down by 0.75%.

Abu Dhabi Securities Market

The ADSM closed almost flat with a 0.01% fall to 4705 points on moderate turnover of AED 935m. ARKAN rose 4.5% to 3.81 from heavy trading, Aldar Properties (ALDAR) rose 3.3% to 11.20, Aabar Petroleum (AABAR) 3.1% to 4.67 and the remaining actively traded gainers rose less than 2%. Abu Dhabi ShipBuilding (ADSB), OEIHC, and NBQ were the top gainers, on total turnover of less than AED 1 million. Etisalat (ETISALAT) shares were unchanged at 24.35.

Only 4 out of the 19 losers saw more than AED 1 million of turnover. Union National Bank (UNB) fell 4.2% to 9.20, Abu Dhabi Commercial Bank (ADCB) and National Bank of Abu Dhabi (NBAD) fell 1.3%, and First Gulf Bank (FGB) just 0.05%.

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