UAE markets 13 Feb 2008

UAE market news & discussions for 13 February 2008 Both UAE markets managed a slight rise today. The DFM closed 0.38% up and the ADSM closed 0.65% up. The top traded share on the DFM was AIRARABIA rising 0.49% to 2.04 dirhams on volume of 51 million shares traded. EMAAR continued to fall after the dividend anouncement closing 1.76% down at 11.10 dirhams. The top traded share on the ADSM was ARKAN rising 3.21% to 3.86 dirhams on volume of 79 million shares traded. Business News: The Dubai Chamber of Commerce and Industry (DCCI) has warned that the UAE must open its banking sector up to more competition to help sustain growth. According some reports in the press EMAAR is proposing to fix its dividend at 20 per cent of par value going forward rather than nominating a percentage of EPS as many companies do. Investors will get to vote on the proposal at the AGM on 19 March 2008. In a further vote of confidence in the UAE, FDI has reached $19 billion according to the Minister of the Economy Sheikha Lubna. Results: Emirates NBD 2007 FY Net Profit AED 4 billion. Airarabia 2007 FY Net Profit, AED 376m, Q4 90m. This translates into 8 fils per share and equals a P/E of 25 times based on todays closing price. Announcements: Du Board Meeting today, results expected tomorrow.

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best stock rises symbol price change FBICO 2.57 +0.23 +9.8% NMDC 8.04 +0.69 +9.4% JULPHAR 2.58 +0.17 +7.1% INVESTB 3.91 +0.25 +6.8% ADSB 4.59 +0.27 +6.3%

worst stock falls symbol price change NBQ 9.10 -0.75 -7.6% NGI 5.80 -0.30 -4.9% RAPCO 4.00 -0.20 -4.8% OIC 13.50 -0.35 -2.5% QCEM 3.01 -0.07 -2.3%

top volume symbol value (AED) price EMAAR 369,298,469 11.10 SOROUH 346,497,083 9.48 ARKAN 308,114,857 3.86 DFM 261,121,476 5.65 AABAR 240,374,633 4.73

Dubai Financial Market

The DFM index closed at 5,653 a rise of 0.38% from the previous close. 267 million shares were traded worth 1.4 billion dirhams. Fourteen shares advanced and nine declined.
The top traded share was AIRARABIA rising 0.49% to 2.04 dirhams on turnover of 51 million shares traded.

Other shares to rise included: ARAMEX 3.12 (1.62%), DEYAAR 2.51 (1.20%), DFM 5.65 (0.89%), Dubai Islamic Bank (DIB) 11.45 (3.15%) and Islamic Arab Insurance (IAIC) 3.60 (3.15%).

Shares to fall included: Amlak Finance (AMLAK) 4.62 (1.28%) and Emaar Properties (EMAAR) 11.10 (1.76%)

Abu Dhabi Securities Market

The ADSM index closed at 4,735 a rise of 0.65% from the previous close. 312 million shares were traded worth 1.5 billion dirhams. Thirty three shares advanced and eight declined.
The top traded share was Aabar Petroleum (Aabar Petroleum (AABAR)) rising 1.28% to 4.73 dirhams on turnover of 50 million shares traded.

Other shares to rise included: ARKAN 3.86 (3.21%), Dana Gas (DANA) 2.33 (1.75%), Oasis Leasing (OILC) 2.55 (1.59%), RAK Properties (RAKPROP) 2.61 (1.95%) and Sorouh Real Estate (SOROUH) 9.48 (3.04%).

Shares to fall included: NBQ 9.10 (7.61%) and First Gulf Bank (FGB) 24.35 (0.20%).

Etisalat (ETISALAT) finished unchanged on 24.40.

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