UAE markets 25 May 2008

UAE market news & discussions for 25 May 2008 The ADX was performing well again today, with turnover more than twice the level at the DFM and some solid gains for cement companies and energy companies. Dana Gas and Agthia were the top stocks on gains and trading levels, although RAK Cement might have had a bigger day had there been more sellers interested at the 10% limit up price. Other news... Emirates NBD was reported to be interested in buying a stake in Saudi Hollandi bank from the Royal Bank of Scotland. Their shares fell slightly. Taqa Energy was reported to have signed a deal with Iberdrola, a Spanish company. Their shares shot up nearly 4% but turnover wasn't unusually high. International Financial Advisers released 08Q1 financial statements - more than a week past the ESCA deadline. Still no sign of Tabreed's financial statements for the first quarter - the only company left on the DFM or ADX not to have released Q1 results (as far as we know). Qatar Telecom - last day for rights issue eligibility tomorrow See latest UAE stock news and UAE stock calendar for more. Dubaisharetalk latest topics

• 23 24 25 May 2008 ADX DFM DIFX disclosures & news
• ADCB CEO wanted by Interpol
• ADX Dh700bn worth of listings coming
• Air Arabia 4th hub
• Aldar dirham Sukuk
• ALDAR stock pick at Sohn Investor Conference
• Amlak Jordan IPO
• DFM net foreign investment Dh16 last week
• DFM London roadshow 2008
• ENBD to buy Saudi Hollandi stake?
• IFA 2008 Q1 profit AED 120m +13% 25 May 2008
• Insider trades May 2008
• RAKWCT 2008 Q1 profit AED 53m +55% 27 Apr 2008
• Small investor orders delayed - GN 23 May 08
• TAQA Iberdrola contract
• UPP not Shariah compliant? - 10 Apr 2008
• What's a Sukuk?

More UAE stock market news and discussions...

best stock rises symbol price change GRAND 3.70 +0.47 +14.6% RAKCC 2.65 +0.24 +10% NBF 6.00 +0.52 +9.5% AGTHIA 2.61 +0.18 +7.4% GCEM 6.68 +0.44 +7.1%

worst stock falls symbol price change SUDATEL 6.48 -1.93 -22.9% SALAM 18.50 -1.80 -8.9% OEIHC 4.55 -0.43 -8.6% NCTH 13.30 -1.20 -8.3% ADNIC 9.00 -0.70 -7.2%

top volume symbol value (AED) price DANA 572,391,379 2.16 ALDAR 391,524,108 12.10 AGTHIA 196,652,446 2.61 RAKPROP 191,669,849 2.34 SOROUH 186,857,593 9.77

Dubai Financial Market

The DFMGI crept up by 0.12% to close at 5703 with turnover subdued at AED 1.13 billion. Emaar Properties (EMAAR) was at the top of the traded value chart with AED 165m worth and a slight gain of 0.43% to close at 11.55. Another 4 stocks saw relatively similar traded value levels, DFM unchanged at 5.81, Union Properties (UPP) up 1.8% to 5.13, Tamweel (TAMWEEL) up 0.75% to 8.05.

AMAN was the top gainer on trading greater than AED 1 m, rising by 2.2% to 37.30. Shuaa Capital (SHUAA) was up 1.8%, and the remaining active gainers rose less than 1%.

There were 8 losers, none falling more than 1% on turnover of more than AED 1 million.

Abu Dhabi Securities Market

The ADX index rose by a healthy looking 0.9% to close above the 5 thousand point level - at 5005 with a very solid AED 2.27 billion worth of turnover, and ARKAN not at the top of the list for a change. Instead, it was Dana Gas (DANA) dominating trading with a massive AED 572 million worth of deals, steaming ahead by 4.85% to 2.18. No news seen to explain the jump, perhaps it's just traders targeting another 2 dh share. AGTHIA was another one in the spotlight, with lower turnover but a larger jump of 7.4% to 2.67. Aldar Properties (ALDAR) also had a solid gain of 4.3% to 12.35 from robust turnover, possibly reflecting a recommendation from the Sohn Investor Conference in New York on Thursday.

Decent gains also for the other 2 energy stocks, Abu Dhabi National Energy (TAQA) up 3.9% to 3.69, and Aabar Petroleum (AABAR) up 2.6% to 3.50. Cement companies were looking good too, with RAK Cement (RAKCC) on a scorching 10% jump to 2.65 with no sellers in the queue, following its 8% jump on Thursday. Gulf Cement (GCEM) increased 7.05% to 6.86 on solid trading, and RAK White Cement (RAKWCT) was up 3.1% to 2.34, also seeing high levels of activity.

Other gainers on turnover greater than AED 1m included ADAVIATION with a 6.4% rise to 5.90, ADNH up 3.8% to 8.00, RAK Ceramics (RAKCEC) up 3.1% to 4.06, RAK Poultry (RAPCO) up 2.8% to 5.55, and the remaining gainers up less than 2% or low turnover.

Losers included Sudan Telecom (SUDATEL) dropping by 23% but that was mostly an adjustment for the 20% share dividend, NCTH plummeting 8.3% on heavy trading, and the remainder falling less than 2% or on low volumes. Etisalat (ETISALAT) fell just 0.24% to 20.95.

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