UAE markets 03 Mar 2008

UAE market news & discussions for 03 March 2008 Another down day for UAE markets. The DFM index was off more than one and a half per cent lead by the DFM itself down over 3 per cent. However, DEYAAR, DIB, AMLAK and EMAAR were also all down by over 2 per cent. The ADSM index closed down by 0.37% lead by falls in the property and gas sectors. Subprime touches Gulf Banks: Arab Banking Group, Gulf Investment Corp and Gulf International Bank wrote down a combined 1.5 billion dollars according to the Middle East Economic Digest. AL Qudra said on Sunday it would delay its IPO to later this year pending changes to the law regarding the percentage of the company offered in the Float. Investors offered at least 60 times (Dhs 33 billion) more than the Dhs 550 million the AJMAN Bank was looking for in its float that closed last Wednesday. ADCB get approval to buy a 25% stake in Malaysia's 4th largest bank RHB Capital. ADSM Company Announcements AABAR: Aabar Energy AGM postponed to 9 March. ARKAN: Result of Arkan Building Materials board meeting and invitation to attend the AGM on 26 March DANA: Dana Gas Project in Iraqi Kurdistan over 70% Complete INVESTB: ADSM Announce Adding Invest Bank Bonus Shares to accounts NMDC: NMDC Board meeting postpond to 11 march 2008 WAHA: Invitation to attend Waha Capital (OILC) AGM on March 3,2008 UNION: Appoints general manager of Union Insurance Co DFM Company Announcements AOIC: Today 03/03/2008, is the last trading date for entitlement of Arab Orient Insurance Company distributions

• DP World - learn from Reliance Power bonus shares 18 Feb 08
• 03 March 2008 ADSM DFM DIFX disclosures & news
• Ajman Bank IPO 60x oversubscribed R 02 Mar 08
• FH Finance House foreign ownership rumour? 03 Mar 08
• Al Qudra IPO delay - 02 Mar 2008
• DP World report HSBC $1.03 - KT 03 Mar 08
• ADCB approved to buy Malaysia'a RHB stake - R 02 Mar 08
• Aabar Thailand deal with Horizon and Northern Gulf - PR 03 Mar 08
• ADCB boss says reconsider currency peg - R 03 Mar 08
• Ajman Bank IPO
• Al Qudra IPO
• MarketWatch Feb 2008 DFM ADSM
• ADNIC 2007 FY profit AED 330m +10% 30 Jan 2008
• Tamweel report by Mac-Capital 12-02-08
• ADNH 2007 FY profit AED 480m +63% 30 Jan 2008
• ADIB 2007 FY profit AED 770m +35% 27 Jan 2008
• ADIB new CEO Tirad Mahmoud - KT 04 Feb 08
• DIB Pakistan 2007 results - PR 02 Mar 08
• Nasdaq CEO gets DIFX VC position - R 01 Mar 08
• Dana gas supply to Kurds from mid 2008 - R 02 Mar 08
• TABREED report TNI - 02 Mar 08
• Insider trades March 2008
• 02 March 2008 ADSM DFM DIFX disclosures & news
• Al Salam Bank Bahrain DFM listing
• Al Salam Bank 2007 FY results and AGM - PR 21 Feb 2008

More UAE stock market news and discussions...

best stock rises symbol price change OEIHC 5.28 +0.48 +10% FH 10.25 +0.73 +7.7% FOODCO 5.06 +0.32 +6.8% FCI 8.00 +0.43 +5.7% ASMAK 6.50 +0.24 +3.8%

worst stock falls symbol price change ADAVIATION 5.36 -0.42 -7.3% NMDC 8.58 -0.65 -7% ASCANA 2.85 -0.14 -4.7% UCC 4.61 -0.20 -4.2% TABREED 3.08 -0.13 -4%

top volume symbol value (AED) price EMAAR 329,833,075 11.90 DFM 327,136,699 5.92 ARKAN 231,029,336 4.08 DIB 157,062,377 11.95 DEYAAR 115,446,086 2.56

Dubai Financial Market

The DFM index closed at 5,777 down 1.52% from the previous close. 275 million shares were traded worth 1.3 billion dirhams. Four shares advanced and twenty declined.
The top traded share was the DFM itself falling 3.42% to 5.92 dirhams on turnover of 54 million shares traded.

Other shares to fall included: AIRARABIA 2.08 (1.42%), Amlak Finance (AMLAK) 4.60 (2.54%), DEYAAR 2.56 (2.29%), Dubai Islamic Bank (DIB) 11.95 (2.44%), Emaar Properties (EMAAR) 11.90 (2.05%) and GULFNAV 1.62 (0.61%).

Shares to rise included: Shuaa Capital (SHUAA) 7.27 (0.27%), Du Telecom (DU) 6.38 (0.31%) and Arabtec (ARTC) 11.90 (0.42%).

Abu Dhabi Securities Market

The ADSM index closed at 4,769 down 0.37% from the previous close. 149 million shares were traded worth 788 million dirhams. Fourteen shares advanced and twenty four declined.
The top traded share was ARKAN rising 1.24% to 4.08 dirhams on turnover of 56 million shares traded.

Other shares to rise included: Union National Bank (UNB) 9.41 (0.97%), Gulf Cement (GCEM) 6.82 (2.87%) and Abu Dhabi Islamic Bank (ADIB) 61.95 (2.57%) all on small volumes.

Shares to fall included: Aldar Properties (ALDAR) 10.90 (0.91%), Dana Gas (DANA) 2.38 (1.65%), RAK Properties (RAKPROP) 2.57 (2.65%), Sorouh Real Estate (SOROUH) 9.94 (1.09%) and Aabar Petroleum (AABAR) 4.53 (1.95%).

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