UAE markets 05 Mar 2008

UAE market news & discussions for 05 March 2008 A subdued days trading on UAE markets today. Both indicies finished down on low volumes. On the DFM, the decline was broadly based with all the popular shares finishing down. SHUAA snapped its recent winning run ending down 2.09% at 7.49 dirhams. On the ADSM winners and losers were generally equal. FGB stood out rising more than 5% to 21.90 dirhams and ARKAN finished down 1.25% to 3.96 dirhams on turnover of 51 million shares. Credit Market Fallout: Dubai Electricity and Water Authority (DEWA) will delay raising $19 billion in debt until the second half of 2008. If quality borrowers like DEWA are finding it difficult to raise funds it shows the extent of the credit market woes. OPEC decided to keep oil output unchanged, blaming the current hight oil price on all factors other than supply. The Investment Corporation of Dubai (ICD) has reportedly come to terms with leading shareholders of Spanish property group Colonial. DFM Company Announcements AHI: Arab Heavy Industries agenda of its AGM being held on 26/3/2008 ALLIANCE: Alliance Insurance announces its BOD meeting results held on 04/03/2008 including its AGM date and the recommended dividends AOIC: DFM Announces the allocation of Arab Orient Insurance 25% bonus shares into shareholders accounts as per the company register closing on 05/03/2008 CBD: Reminder: Today 05/03/2008, is the last trading date to entitle for Commercial Bank of Dubai distributions. MASQ: Mashreq announces the resolutions of its AGM held on 04/03/2008 NGI: National General Insurance announces the resolutions of its AGM held on 04/03/2008 ADSM Company Announcements ADIB: Abu Dhabi Islamic Bank AGM postponed to 11 March 2008 at 7:00PM ARKAN: Arkan Building Materials owning 40% of Vision Group AWNIC: Al Wathba Insurance announces its AGM results held on 04/03/2008

• EMAAR - Burj Dubai delay R 04 Mar 08
• 05 March 2008 ADSM DFM DIFX disclosures & news
• DIC FIE JV - Al Taif Investments launched - PR 05 Mar 08
• ICD Dubai to bid AED 16.5 bn for Spain's Colonial - R 27 Feb 08
• EMAAR Cham (Syria) JV - 06 Mar 08
• Insider trades March 2008
• Ajman Bank IPO opening price poll
• DP World - learn from Reliance Power bonus shares 18 Feb 08
• UAE cement shortage - 04 Mar 08
• NBAD international trading - KT 05 Mar 08
• MAZAYA capital increase 20% for investor - EB 05 Mar 08
• ARTC FV 15.60 By Shuaa Capital 04 Feb 08
• Marketwatch DFM March 2008
• AKIC 2007 FY profit AED 140m +68% 31 Jan 2008
• Marketwatch ADSM March 2008
• EMAAR expansion to Kuwait - R 04 Mar 08
• Where is EMAAR price heading to?
• Global DIB Millennium Islamic Buyout Fund
• Air Arabia 2007 profit forecast AED 350m
• Al Qudra IPO delay - 02 Mar 2008
• 04 March 2008 ADSM DFM DIFX disclosures & news
• ADCB 2008 profit forecast +20%
• ADCB expansion plans - GN 04 Mar 2008
• SOROUH Goodman JV - 04 Mar 08
• FH Finance House foreign ownership [Rumour]? 03 Mar 08

More UAE stock market news and discussions...

best stock rises symbol price change OEIHC 6.03 +0.51 +9.2% UCC 4.88 +0.32 +7% FGB 21.90 +1.13 +5.4% AAAIC 138.00 +6.50 +4.9% GGICO 14.25 +0.60 +4.4%

worst stock falls symbol price change DRIVE 5.07 -0.43 -7.8% INVESTB 3.41 -0.24 -6.6% FOODCO 4.95 -0.34 -6.4% FH 9.63 -0.57 -5.6% ASMAK 6.54 -0.36 -5.2%

top volume symbol value (AED) price SOROUH 225,563,820 10.60 ARKAN 204,199,469 3.96 EMAAR 124,336,078 11.95 ALDAR 106,643,510 11.10 AABAR 96,817,280 4.42

Dubai Financial Market

The DFM index closed at 5,804 a fall of 0.90% from the previous close. 130 mllion shares were traded worth 714 million dirhams. Three shares advanced and eighteen declined.
The top traded share was AIRARABIA falling 0.47% to 2.10 dirham on turnover of 31 million shares traded.

Other shares to fall included: DEYAAR 2.57 (0.77%), DFM 5.96 (0.50%), Emaar Properties (EMAAR) 11.95 (0.82%) and Shuaa Capital (SHUAA) 7.49 (2.09%).

Shares to rise included: GGICO 14.25 (4.39%) and ALFIRDOUS 2.43 (0.82%).

Abu Dhabi Securities Market

The ADSM index closed at 4,821 a fall of 0.02% from the previous close. 182 million shares were traded worth 985 million dirhams. Sixteen shares advanced and twenty five declined.
The top traded share was ARKAN falling 1.25% to 3.96 dirhams on turnover of 51 million shares traded.

Other shares to fall included: Aabar Petroleum (AABAR) 4.42 (2.21%), Dana Gas (DANA) 2.38 (0.42%) and WAHA 2.73 (1.09%).

Shares to rise included: Abu Dhabi Commercial Bank (ADCB) 6.55 (0.15%), First Gulf Bank (FGB) 21.90 (5.44%), RAK Cement (RAKCC) 2.09 (1.46%), Sorouh Real Estate (SOROUH) 10.60 (3.92%) and RAK Properties (RAKPROP) 2.64 (1.54%).

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