UAE markets 06 May 2008

UAE market news & discussions for 06 May 2008 Both UAE markets fell slightly today, but volumes traded continue to be elevated. GULFNAV dominated trading again on the DFM giving up some of yesterdays gains falling 3.22% to 1.80 dirhams on volume of 280 million shares traded. DEYAAR also fell by 1.25% to 2.37 dirhams on volume of 213 million shares traded. On the ADSM, WAHA picked up 1.62% to close at 2.15 dirhams on 60 million shares traded. DIFX DPW closed at $1.05 down 1.87% on volume of 24 million shares traded. DEPA closed at $1.46 up 0.69% on volume of 652 thousand shares traded. Depa also announced the acquisition of JWICO as it starts to spend the proceeds from the IPO. Company news and results Aldar share capital increased to AED 2,391,828,314 from convertible sukuk (2.39 billion shares outstanding) Asmak issued AED 140m convertible notes to Hydra Properties Bayan Investment Company approved employee stock option plan up to 10% of share capital (EGM 05 May 2008) Cement companies in the UAE agree to reduce cement prices - R 05 May 2008 OEIHC 2008 Q1 profit AED 32m +254% 06 May 2008 Salam Bank 2008 Q1 profit AED 72m +44% 06 May 2008 TKFL BOD meeting at 5pm on Wednesday 07 May 2008, agenda not supplied Further information Sharewadi calendar

• Marketwatch DFM May 2008
• UAE cement companies cut prices R 05 May 08
• ALLIANCE 2007 FY profit AED 51m +53% 10 Feb 2008
• ADNH Saadiyat Resort - PR 06 May 08
• When do share dividends take effect?
• CBD 2008 Q1 profit AED 270m +22% 16 Apr 2008
• OEIHC 2008 Q1 profit AED 32m +254% 06 May 2008
• 06 May 2008 ADSM DFM DIFX disclosures & news
• Insider trades May 2008
• Salam Bank 2008 Q1 profit AED 72m +44% 06 May 2008
• ARTC 2008 Q1 profit AED 230m +285% 05 May 2008
• Ajman Bank opening price
• DU 2008 Q1 loss AED -62m +71% 05 May 2008
• NIND 2008 Q1 profit AED 850m +3% 05 May 2008
• Future Pipe IPO
• SICO 2008 Q1 profit AED 41m +172% 05 May 2008
• 05 May 2008 ADSM DFM DIFX disclosures & news
• QTEL rights issue 2008
• Gulf Navigation foreign ownership approved - 14 Apr 2008
• ALDAR hotels +40 by 2015 - GN 05 May 08
• GCEM 2008 Q1 profit AED 110m +22% 04 May 2008
• aldar potential
• ASMAK share capital reduced 04 May 08
• AGTHIA name change
• OIC 2008 Q1 profit AED 110m +19% 04 May 2008

More UAE stock market news and discussions...

best stock rises symbol price change OEIHC 4.88 +0.41 +9.2% ASMAK 16.70 +1.20 +7.7% TKFL 8.26 +0.57 +7.4% RAPCO 5.82 +0.39 +7.2% OIC 10.50 +0.50 +5%

worst stock falls symbol price change AAAIC 114.30 -12.70 -10% ARIG 3.16 -0.23 -6.8% FOODCO 4.46 -0.32 -6.7% FH 12.55 -0.45 -3.5% UNION 3.22 -0.11 -3.3%

top volume symbol value (AED) price GULFNAV 522,166,057 1.80 DEYAAR 514,981,097 2.37 ADIB 194,175,527 6.63 ALDAR 181,906,563 11.90 OILC 152,793,489 2.51

Dubai Financial Market

The DFM index closed at 5,824 a fall of 0.39% from the previous close. 683 million shares were traded worth 1.9 billion dirham. Seven shares advanced and sixteen declined.
The top traded share was again GULFNAV falling 3.22% to 1.80 dirhams on volume of 280 million shares. Trading was also brisk in DEYAAR, falling 1.25% to 2.37 dirhams on volume of 213 million shares.

Other shares to fall included: AIRARABIA 2.03 (0.49%), Amlak Finance (AMLAK) 4.97 (0.40%), Emaar Properties (EMAAR) 11.70 (0.42%) and Union Properties (UPP) 4.79 (0.41%).

Shares to rise included: Arabtec (ARTC) 16.10 (0.62%) and Islamic Arab Insurance (IAIC) 3.60 (2.56%).

Abu Dhabi Securities Market

The ADSM index closed at 5,040 a fall of 0.28% from the previous close. 249 million shares were traded worth 1.1 billion dirhams. Nineteen shares advanced and twenty one declined.
The top traded share was WAHA, rising 1.62% to 2.51 dirhams on volume of 60 million shares.

Other shares to rise included: Abu Dhabi Islamic Bank (ADIB) 6.63 (2.16%), ARKAN 5.12 (0.59%) and Aldar Properties (ALDAR) closed unchanged on 11.90.

Shares to fall included: Aabar Petroleum (AABAR) 3.61 (1.62%), Dana Gas (DANA) 2.11 (0.94%), RAK Properties (RAKPROP) 2.27 (0.88%) and Etisalat (ETISALAT) 21.50 (0.46%).

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