UAE markets 16 Mar 2008

UAE market news & discussions for 16 March 2008 The UAE markets started week with unpleasant falls of over 1% but low trading volumes. There were no standout gainers but several actively traded stocks were down by over 3%, with Aabar Energy the worst of the losers. Abyaar's chairman said in yesterday's AGM that a DFM listing was scheduled for later in 2008. Abyaar listed on the Kuwait Stock Exchange in October 2007. Aldar Properties announced the completion of phase I of the Al Mamoura office complex in Abu Dhabi. Abu Dhabi National Energy (TAQA) is in talks with Shell and ExxonMobil to buy North Sea assets. Taqa 2007 FY results are due to be released tomorrow morning before the market opens. Amlak Finance hold their AGM today to approve a 10% cash dividend and a Sukuk issue. Arabtec holding won a half billion dirham villa construction contract from Emaar Properties. See the full list of disclosures and dates for today and tomorrow in DubaiShareTalk.com, and also the ShareWadi calendar.

• 14 15 16 March 2008 ADSM DFM DIFX disclosures & news
• Taqa, Arabtec, Dubai Islamic, Etisalat: Gulf Equity Preview 15 Mar 08
• AABAR trading 05 Mar 08
• Al Qudra IPO
• Al Rayan IPO
• ALDAR - AED 18 bn Al Dana project - GN 13 Mar 08
• AMLAK 2007 FY profit AED 301m 12 Jan 2008
• ARIG 2007 FY profit falls to AED 87m - PR 14 Feb 08
• ARKAN 2007 FY profit AED 200m +16%, Q4 59m +28% 28 Feb 2008
• ARMX 2007 FY profit forecast +20-30% from 2006
• ARTC AED 520m villa contract from Emaar - PR 15 Mar 08
• DFM - Citi Initiates Buy, Target AED8 16 Mar 08
• DFM net foreign selling last week - PR 15 March 2008
• DIFX to list AED 330 bn Iran energy fund? GN 16 Mar 08
• Etisalat Nigeria starts operations - 15 Mar 08
• Ishraq IPO
• Iskan IPO
• Manazel IPO
• Marketwatch DFM March 2008
• TABREED's Annual General Meeting see new board of directors
• TAQA - Shell ExxonMobil deal 14 Mar 08
• UNB share price falls 15% 12 March 2008?

More UAE stock market news and discussions...

best stock rises symbol price change DRC 17.30 +0.80 +4.8% DRIVE 6.51 +0.14 +2.2% ADNH 9.77 +0.17 +1.8% ALFIRDOUS 2.40 +0.04 +1.7% RAKCEC 4.58 +0.04 +0.9%

worst stock falls symbol price change OEIHC 6.00 -0.39 -6.1% NBS 3.16 -0.18 -5.4% OIC 9.74 -0.51 -5% UCC 3.92 -0.19 -4.6% AABAR 3.81 -0.18 -4.5%

top volume symbol value (AED) price EMAAR 180,109,684 11.65 DFM 146,889,568 5.66 DIB 134,793,132 12.10 ALDAR 93,710,868 10.65 ADIB 68,340,784 68.00

Dubai Financial Market

The DFMGI fell 1.35% to 5675 points on modest trading of AED 838 million with Emaar Properties (EMAAR) down by 2.1% to 11.65, DFM down by 3.25% to 5.66, and Dubai Islamic Bank (DIB) unchanged, seeing the greatest turnover.

Of the 4 gainers, only GGICO up by 0.7% and Tamweel (TAMWEEL) up by 0.45% saw any reasonable trading volumes. All the other actively traded stocks fell between 1.5% and 3% except for Islamic Arab Insurance (IAIC) which was down by 3.55% to 3.26.

Abu Dhabi Securities Market

The ADSM index lost just slightly over 1% to close at 4682 points, with turnover down to AED 426 million. Aldar Properties (ALDAR) topped the traded value list with a 1.4% drop to 10.40.

Out of the 7 gainers, the first 5 traded on less than AED 2.5 million of turnover each. UAB saw greater than usual turnover of AED 26m but a gain of just 0.14% to close at 7.40. Abu Dhabi Islamic Bank (ADIB) was also active but share price crept up by less than 0.1%.

In the loser's list, NBS stood out with higher than usual trading volumes and a 5.4% drop to 3.16. Union Cement (UCC) fell 4.6% to 4.03, Aabar Petroleum (AABAR) had another bad day with a 4.5% fall to 3.78, Oasis Leasing (OILC) fell 4.4% to 2.39, RAK Properties (RAKPROP) dropped 2.39, Dana Gas (DANA) fell 2.65%, Abu Dhabi National Energy (TAQA) 2.5% and the remainder fell less than 2.5%. Etisalat (ETISALAT) managed to keep its head almost above water today with a fall of just 0.62% to 24.00.

• Comment on this report and view previous reports on the Share Wadi blog.
• Discuss UAE companies at Dubai Share Talk.