UAE markets 01 Jul 2008

UAE market news & discussions for 01 July 2008 What a difference a day makes. Both UAE market indicies finished higher by more than one and a half percent on share trading of more than 1.5 billion dirhams for each market. Despite calls in the morning press for more transparency in UAE markets to give traders more confidence, markets shrugged off the recent malaise and recorded strong gains in all sectors. On the DFM, AJMANBANK closed limit up 15% at 2.76 dirhams and DEYAAR put recent troubles behind it closing 7.76% higher. For the ADX, METHAQ continued its rise closing 9.94% higher and AABAR and DANA both finished more than 4% higher. However, one day does not make a fundamental shift in sentiment. Lets see what happens Wednesday. Calendar items for this week Tuesday, July 1 DANA sukuk pricing Dar Takaful first Founders General Assembly meeting Dar Takaful IPO starts TAQA convertible bond subscription period starts Wednesday, July 2 AABAR Sukuk additional voluntary redemption date GCIC Green Crescent IPO allotment and refund of oversubscribed shares TAQA convertible bond subscription period Thursday, July 3 TAQA convertible bond subscription period UAE stock news links to latest articles

• Reason for market movement?
• Marketwatch ADX DFM July 2008
• Why Methaq Shares UP
• DP World dividend?
• Drake & Scull IPO
• Derivatives DIFX
• UAE stock analysts
• UPP Credit Suisse rating
• ARTC Credit Suisse rating
• Live chatroom for UAE stocks
• IIG 2007 FY profit AED 290m -10% 27 Mar 2008
• QTEL rights issue 2008
• ALFIRDOUS 2007 FY profit AED 19m +4,775% 18 May 2008
• DP World Greece
• Marketwatch ADX DFM June 2008
• Insider trades June 2008
• UPP 2008 FY profit forecast +18% to AED 800m
• TABREED new business model
• Green Crescent IPO
• Abyaar DFM listing
• UPP government JV
• Depa interior award
• ENBD Turkey
• BOS Lebanon
• NetSol new DIFX listing

More UAE stock market news and discussions...

best stock rises symbol price change AJMANBANK 2.76 +0.36 +15% ADNIC 9.62 +0.87 +9.9% METHAQ 7.19 +0.65 +9.9% NBF 7.25 +0.65 +9.8% UAB 7.84 +0.70 +9.8%

worst stock falls symbol price change SICO 5.68 -0.63 -10% DRIVE 7.90 -0.85 -9.7% JEEMA 4.66 -0.24 -4.9% SCIDC 5.30 -0.14 -2.6% QCEM 2.84 -0.06 -2.1%

top volume symbol value (AED) price ALDAR 538,563,342 12.70 AJMANBANK 381,685,613 2.76 SOROUH 244,812,312 9.57 DEYAAR 232,420,261 2.22 RAKCC 221,394,084 3.84

Dubai Financial Market

The DFM index closed at 5,540 a rise of 1.77% from the previous close. 473 million shares were traded worth 1.5 billion dirhams. Twenty three shares advanced and two declined.
AJMANBANK led the trading by volume rising 15% limit up to 2.76 dirhams on volume of 144 million shares.

Other shares to rise included: AIRARABIA 1.89 (3.27%), DEYAAR 2.22 (7.76%), DFM 5.22 (2.55%), Emaar Properties (EMAAR) 11.00 (1.38%), GULFNAV 1.75 (6.70%) and Islamic Arab Insurance (IAIC) 3.18 (4.95%)

Tamweel (TAMWEEL) falling 1.54% to 8.27 dirhams was the only loser on significant volume.

Abu Dhabi Securities Market

The ADX index closed at 5,043 a rise of 1.81% from the previous close. 308 million shares were traded worth 1.8 billion dirhams. Twenty nine shares advanced and thirteen shares declined.
Trading was led by Dana Gas (DANA) rising 4.17% to 2.00 dirhams on volume of 54 million shares.

Other shares to rise included: First Gulf Bank (FGB) 27.90 (4.49%), Aldar Properties (ALDAR) 12.70 (1.20%), Sorouh Real Estate (SOROUH) 9.57 (3.13%), Aabar Petroleum (AABAR) 3.80 (4.40%) and METHAQ 7.19 (9.94%).

Shares to fall included: ARKAN 6.23 (0.32%) and RAK White Cement (RAKWCT) 2.47 (1.20%).

RAK Cement (RAKCC) closed steady at 3.84 dirhams on volume of 57 million shares traded.

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