UAE markets 07 Apr 2008

UAE market news & discussions for 07 April 2008 Both the ADSM and DFM fell back today, while the DIFX started the week with DP World shares unchanged from Friday's close. Al Khazna Insurance in Abu Dhabi continued to rocket ahead on increasing turnover. Emaar shares fell back slightly despite Emaar annoucing the Burj Dubai was now the tallest man-made structure in the world, at 629m. DP World released preliminary 2007 FY results with total profit of about US$1.1 billion (including the sale of POPNA, and IPO income) but profit from continuing operations of $420 million giving a PE of a still expensive looking 40.7. The UAE Central Bank governor restated the UAE commitment to the dollar peg today. "There will be no revaluation, no dropping the dollar peg," said Mr Suweidi according to Reuters. Sami al-Qamzi, director general of Dubai's Department of Finance said Dubai would borrow up to AED 15 billion to finance infrastructure development. Libya and Dubai have agreed to set up an AED 11 billion fund to jointly finance projects in both countries according to a Reuters report. The ADSM and several listed companies are heading to Singapore and Tokyo for a road show. They'll eat meat pies and wear black leather jackets while promoting Exchange Traded Funds (ETF). Companies going on the trip are NBAD, ADCB, ALDAR, SOROUH, OILC, DANA, AGTHIA, and FCI. Reuters reported Polaris Securities in Taiwan could be the first ETF to list on the ADSM - in June 2008. ADSM left in such a hurry, they forgot to put a statement on their own website. TAQA was reported to be planning to invest AED 7.3 billion in a North American powerr plant purchase, and AED 9.2 billion in a Saudi Arabia joint venture to build power stations.

• 07 April 2008 ADSM DFM DIFX disclosures & news
• 2008 Q1 UAE financial results
• AABAR trading 05 Mar 08
• ADSM and others to Singapore and Tokyo - PR 07 Apr 08
• Air Arabia 2008 Q1 profits tripled?
• Ajman Bank listing
• Al Reef Villas - Manazel R.E.
• AMLAK 2008 Q1 profit + 429% to AED 126m - 06 Apr 08
• Arabtec - HSBC & Morgan Stanley
• Damac - Palm Springs
• Depa IPO
• Depa initial public offering launched - R 06 Apr 08
• DFM Stock Game 2008?
• DIC rights issue phase 2
• DP World 2007 FY profit +52% to $420m - 07 Apr 2008
• EMAAR - Burj Dubai is tallest man-made structure - PR 07 Apr 08
• Future Pipe IPO
• Mada'in IPO
• Marketwatch DFM April 2008
• MS Excel - Technical stock analysis templates?
• Tameer - Al Firdous project (Umm Al Quwain)
• Tamweel ready to repeat 2007 performance
• Technical Analysis resources for beginners?
• 04 05 06 April 2008 ADSM DFM DIFX disclosures & news

More UAE stock market news and discussions...

best stock rises symbol price change QCEM 3.23 +0.29 +9.9% NMDC 10.80 +0.90 +9.1% DRIVE 6.59 +0.50 +8.2% AKIC 2.82 +0.17 +6.4% QTEL 202.90 +9.60 +5%

worst stock falls symbol price change FBICO 2.70 -0.30 -10% OEIHC 4.22 -0.46 -9.8% ALMADINA 11.65 -0.45 -3.7% UNB 7.79 -0.23 -2.9% NBAD 19.40 -0.55 -2.8%

top volume symbol value (AED) price GULFNAV 182,675,087 1.68 EMAAR 179,995,334 11.25 TAMWEEL 121,526,459 7.57 ARKAN 119,897,604 4.19 AMLAK 118,690,812 4.58

Dubai Financial Market

The DFMGI fell 0.61% to 5482 on turnover of just under AED 1 billion today with only a handful of gainers, and only GGICO standing out with a 2.3% from reasonable trading volumes. Tamweel (TAMWEEL) rose 1.6%, Shuaa Capital (SHUAA) 1.4% and Amlak Finance (AMLAK) 1.1%.

DEYAAR was the worst of the more actively traded losers, falling by 2.1% to 2.38. GULFNAV fell 1.75%, Aramex (ARMX) 1.7% after announcing the founder lock up period had expired, and Du Telecom (DU) fell 1.6%. The remainder fell less than 1.5% except for a couple of thinly traded stocks. Emaar Properties (EMAAR) fell 1.3% to 11.25.

Abu Dhabi Securities Market

The ADSM index fell 0.73% to 4738 from turnover of just AED 581 million. ARKAN stood out with AED 120 million of trading but price was unchanged. As mentioned, AKIC jumped ahead by 6.4% to 2.91, and turnover was the highest seen in one day in the past 12 months. National Marine Dredging (NMDC) also shot ahead by 9% to 10.90 but from limited trading. All other gainers rose less than 1% or on turnover of less than AED 1 million.

Union National Bank (UNB) had the worst fall of the more actively traded stocks today, falling by 2.9% to 7.75. National Bank of Abu Dhabi (NBAD) was down 2.8% to 19.20, Aabar Petroleum (AABAR) 2.3% to 3.34, Sorouh Real Estate (SOROUH) 2.15%, RAK Properties (RAKPROP) 2.1% and the remainder by less than 2% or on thin trading. Etisalat (ETISALAT) fell 0.48% to 20.65.

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