UAE markets 11 Mar 2008

UAE market news & discussions for 11 March 2008 Another quiet days trading on UAE markets today. The DFM index finished just under one per cent lower and the ADSM just over one per cent lower. Volumes continue to be constrained. The standout share on the DFM was SHUAA rising another 9.87% to close at 8.57 dirhams. HSBC Bank has issued a target price of Dh 12.60. The top traded share on the ADSM was AABAR closing down 5.28% at 4.18 dirhams on 54 million shares traded. Oil hits $109 in Asian trading, US VP Cheney heads to KSA for urgent discussions regarding the supply of oil. USD/UAE Peg. When you dont know what to do set up a committee. It has been reported the UAE Central Bank is to set up a committee to help coordinate the possible de-peging of the Dirham from the Dollar. The Committee will work day and night and report by the end of the year. Mean while in the real world speculation continues... Having introduced price controls for rents the UAE Government is now moving to regulate retail pricing by setting a Maximum Retail Price (MRP) that merchants can charge for some specified groceries. Once on this path governments find it hard to stop regulating increasing amounts of the economy. The risk is the UAE Government will damage the business friendly reputation of the UAE by over regulating. Generally competition and supply ensure fair pricing not government controls. For your Diary Today and Tomorrow Tuesday 11 March 2008 ENBD 07FY audited statements released NMDC BOD meeting new date 2008 TAQA BOD meeting dividends, convertible bonds. Wednesday 12 March 2008 TABREED AGM 7% share dividend proposed RAPCO last trading day before shares ex-dividend (not confirmed) TABREED EGM (postponed from 28 February 2008) Ajman Bank IPO share allotments DANA BOD meeting CBI BOD meeting QCEM AGM

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• DP World shares review - KT 10 Mar 2008
• DIB new chairman - WAM 10 Mar 08
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More UAE stock market news and discussions...

best stock rises symbol price change GMPC 8.50 +0.77 +10% SHUAA 8.57 +0.77 +9.9% OEIHC 5.98 +0.54 +9.9% UAB 7.16 +0.64 +9.8% NGI 6.09 +0.29 +5%

worst stock falls symbol price change GLOBAL 14.70 -1.80 -10.9% UCC 3.98 -0.38 -8.7% AABAR 4.13 -0.23 -5.3% CBD 9.65 -0.50 -4.9% QCEM 3.15 -0.15 -4.5%

top volume symbol value (AED) price EMAAR 234,779,551 11.80 AABAR 225,820,518 4.13 ALDAR 136,244,509 10.90 DFM 133,231,338 5.91 AIRARABIA 101,237,782 2.07

Dubai Financial Market

The DFM index closed at 5,714 a fall of 0.74% from the previous close. 178 million shares were traded worth 857 million dirhams. Six shares advanced and eighteen declined.
The top traded share was AIRARABIA rising 0.48% to 2.07 dirhams on turnover of 48 million shares.

The only other share to rise on significant volume was Shuaa Capital (SHUAA) closing 9.87% at 8.57 dirhams.

Shares to fall included: DEYAAR 2.52 (1.17%), DFM 5.91 (0.33%), Emaar Properties (EMAAR) 11.80 (0.84%) and GULFNAV 1.60 (1.23%).

Abu Dhabi Securities Market

The ADSM index closed at 4,729 a fall of 1.17% from the previous close. 152 million shares were traded worth 822 million dirhams. Sixteen shares advanced and thirty one declined.
The top traded share was Aabar Petroleum (AABAR) falling 5.28% to 4.18 dirhams on turnover of 54 million shares.

Other shares to decline included: Aldar Properties (ALDAR) 10.90 (1.80%), Bank Of Sharjah (BOS) 3.41 (0.29%) and RAK Properties (RAKPROP) 2.51 (2.71%).

Shares to rise included: NBS 4.03 (0.25%), AGTHIA 2.07 (0.49%) and RAK Bank (RAKBANK) 8.48 (2.42%).

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