UAE markets 30 Mar 2008

UAE market news & discussions for 30 March 2008 Apologies for the late report. It wasn't only the markets that were down yesterday, I couldn't get an internet connection either. Sharepunter is sending out today's report and is hopefully on a more reliable network than me this week. Not a great day yesterday, to say the least, with DFM crashing by almost 3%, and increased turnover not a good sign. However, it does mean that some stocks are approaching prices which are beginning to look attractive. For AGM and dividend dates, see the sharewadi calendar. Latest DubaiShareTalk posts are:

• 31 March 2008 ADSM DFM DIFX disclosures & news
• Insider trades March 2008
• Tamweel ready to repeat 2007 performance
• Global initiates coverage on Air Arabia with a BUY
• DFM Stock Game 2008?
• DIC rights issue phase 2
• Air Arabia AGM 31st March 2008
• AABAR trading 05 Mar 08
• Cement sector UAE report TNI - 26 Mar 08
• Marketwatch DFM March 2008
• Where is EMAAR price heading to?
• UNB share price falls 15% 12 March 2008?
• UAE & GCC currency peg analysis - R 27 Mar 08
• Nasser Al-Shaikh named Chairman of Deyaar - PR 29 Mar 08
• DFM AED 90m net foreign investment last week 29 Mar 08
• TABREED 2007 FY profit forecast down 30% to AED 70m
• New format for latest news - starting 14 Feb 08
• Retaining shares after moving
• TABREED report TNI - 02 Mar 08
• 30 March 2008 ADSM DFM DIFX disclosures & news
• 27 March 2008 ADSM DFM DIFX disclosures & news

More UAE stock market news and discussions...

best stock rises symbol price change ARIG 3.98 +0.41 +11.5% GLOBAL 13.95 +1.20 +9.4% AKIC 2.37 +0.20 +9.2% NMDC 11.35 +0.80 +7.6% DRIVE 6.98 +0.33 +5%

worst stock falls symbol price change INVESTB 3.40 -0.36 -9.6% FH 9.25 -0.85 -8.4% DFM 4.92 -0.35 -6.6% RAKPROP 2.13 -0.15 -6.6% OILC 2.18 -0.14 -6%

top volume symbol value (AED) price SOROUH 427,267,781 8.14 EMAAR 255,513,643 10.85 DFM 215,359,813 4.92 ARKAN 150,926,318 4.04 DIB 103,227,699 9.15

Dubai Financial Market

The DFM plunged 2.9% to 5249 points with turnover just over AED 1 billion. As usual, Emaar Properties (EMAAR) and DFM shares took the top two spots on the traded value charts, with Dfm also trading the highest number of shares, but having the less impressive honour of suffering the worst fall (of 6.6% to 4.92), except for the newly listed Al Salam Bank of Bahrain. Emaar was down by 3.6% to 10.85.

Global Investment House (GLOBAL) was the only stock with a rise worth noting - up a hefty 9.4% from greater than usual turnover. The impressive gain for Arab Insurance Group (ARIG) came froom a single trade worth only 400 dhs. The other gainers rose on thin turnover.

All the more actively traded stocks fell today. Apart from the 2 already mentioned, other standout falls for Tabreed (TABREED) down by 5.15% to 2.21, Amlak Finance (AMLAK) down by 4.7% to 4.05, Union Properties (UPP) down 4.55%, Islamic Arab Insurance (IAIC) down 4.1%, and most of the remainder falling between 2-4%.

Abu Dhabi Securities Market

The ADSM index suffered a less unpleasant fall of 1.3% to close at 4603, although turnover was approaching DFM levels at AED 836m. Half of that came from trading in Sorouh Real Estate (SOROUH), which suffered one of the worst falls at 5.6% to 8.07.

The only gainers of note were AKIC, up an impressive 9.2% to 2.37, and ARKAN, rising 1.8% to 4.05. Other rises were less than 1% or on low turnover.

RAK Properties (RAKPROP) suffered the worst fall out of the more actively traded stocks, dropping by 6.6% to 2.08. Oasis Leasing (OILC) fell by 5.2% to 2.16, and the remainder fell less than 3% or on thin trading. Etisalat (ETISALAT) was down by 1.4% to 24.00.

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