UAE markets 10 Apr 2008

UAE market news & discussions for 10 April 2008 Both the DFM and ADSM rose today, with the Abu Dhabi market in particular standing out on a healthy increase from respectable turnover. Rises in both NBAD and Etisalat dragged the index up, while Aldar Properties had another day of heavy trading but little movement in price. In Dubai, Arabtec continued north after yesterday's impressive gain. DP World is the only stock trading on the DIFX today, and is down by 3.3% so far, to $0.87. The Depa IPO subscription period ends on Sunday 13 April 2008, the same day that the Future Pipe IPO subscription period starts.

• 10 April 2008 ADSM DFM DIFX disclosures & news
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• ADCB AED 4.8 bn convertible bond issue - 10 Apr 08
• Air Arabia launches flights to Kuala Lumpur 09 Apr 08
• Ajman Bank IPO 60x oversubscribed R 02 Mar 08
• Aldar shares 07 Jan 08
• ARTC - AED 3 bn new housing contract - PR 09 Apr 08
• Arabtec - HSBC & Morgan Stanley
• ASMAK convertible bonds with Hydra Properties 09 Apr 08
• ASNIC Al Sagr Jordan acquisition 09 Apr 08
• DEPA - Morgan Stanley report 25 Mar 08
• Depa IPO - how to apply
• DIC rights issue phase 2
• DP World 2007 FY profit +52% to $420m - 07 Apr 2008
• DRIVE 2007 FY results
• FGB 2008 Q1 profits +66% to AED 675m - R 09 Apr 08
• Gulf Navigation only for Nationals?
• Marketwatch DFM April 2008
• Sorouh foreign ownership increase (denied) - R 08 Apr 08
• Tabreed and UPP
• Tamweel ready to repeat 2007 performance
• UAE Markets 1Q forcasts from EFG Hermes - 7 Apr 2008
• 09 April 2008 ADSM DFM DIFX disclosures & news
• More UAE stock market news and discussions...

best stock rises symbol price change FBICO 2.99 +0.24 +8.7% SALAM 17.50 +1.30 +8% ASMAK 8.02 +0.47 +6.2% ALMADINA 12.30 +0.65 +5.6% GULFA 2.35 +0.11 +4.9%

worst stock falls symbol price change FCI 6.32 -0.68 -9.7% ADSB 4.32 -0.43 -9.1% RAKWCT 2.25 -0.22 -8.9% NMDC 9.97 -0.68 -6.4% DRIVE 6.55 -0.44 -6.3%

top volume symbol value (AED) price ALDAR 493,793,210 11.05 ARKAN 244,779,709 4.27 SOROUH 161,705,257 9.59 EMAAR 139,134,483 11.10 ARTC 122,578,003 13.60

Dubai Financial Market

The DFMGI rose by just 0.38% to 5453 from yet another day of subdued turnover with just AED 735m worth of trades - about half the level seen down the road in Abu Dhabi. Most of the actively traded stocks crept up by about 1% with Arabtec (ARTC) the only standout gainer, rising 3.8% to 13.60 from robust trading levels.

Five stocks fell, none of them more than 1%. DEYAAR was the worst with a 0.84% drop to 2.35. Emaar Properties (EMAAR) fell 0.45% to 11.10 on light trading.

Abu Dhabi Securities Market

The Abu Dhabi index rose a handy 1.5% on the back of a solid 3.3% rise to 22.15 for Etisalat (ETISALAT), and a 2% gain to 20.35 for National Bank of Abu Dhabi (NBAD). While First Gulf Bank (FGB) stood out with a 4% rise to 20.65 after announcing record 2008 Q1 profits.

Aldar Properties (ALDAR) rose just 1.4% to 10.85 but turnover was at almost half a billion dhs for the day - twice the level of the next in line - ARKAN with a relatively busy day and a 1.2% rise to 4.30.

ASMAK, usually rarely traded, was in the spotlight with a hefty 6.2% gain to 8.30 from unusually high trading levels. RAK Properties (RAKPROP) rose 2.6% and the remaining gainers were up by less than 2%, except for FBICO which saw just 1 trade.

AKIC, the star this week with big daily gains, went the other way today and fell 6.3% to 2.80 from still relatively high trading levels. However, it was eclipsed in the losers list by an 8.9% drop for RAK White Cement (RAKWCT) but that was mostly due to the ex-dividend price adjustment. The other stocks in the red today fell by less than 2% or on thin trading levels.

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