UAE markets 02 Jul 2008

UAE market news & discussions for 02 July 2008 The DFM takes a breather while the ADX index continues to climb. The DFM index closed marginally down today with another 15% rise in AJMANBANK offfset by falls in DFM and EMAAR. The ADX index rose just over one percent with shares traded by value of 2.2 billion dirhams. The banks had a good day lead by FGB rising 4.12% and SIB 3.69%. However, AABAR was the standout share rising 7.63% to 4.09 dirhams. In other market news: Dow Jones has launched to indexes to cover the GCC stock markets (excluding Saudi). The indexes will be called the the Dow Jones GCC and the DOW Jones Islamic Market GCC. Standard and Poors also announced the launch of the (SP) GCC 40 index. Both these indicies may come in handy with the DIFX launching derivatives trading in September 2008. However, more importantly they will help attract more foreign investment to the markets. Damas announced the pricing of its shares at US$1.00 to be listed on the DIFX on/about 8 July 2008.

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best stock rises symbol price change AJMANBANK 3.17 +0.41 +14.9% OEIHC 3.21 +0.27 +9.2% AABAR 4.09 +0.29 +7.6% TAQA 3.22 +0.20 +6.6% AGTHIA 2.70 +0.16 +6.3%

worst stock falls symbol price change ADNIC 8.70 -0.92 -9.6% NCTH 12.10 -0.90 -6.9% ADSB 4.88 -0.31 -6% AKIC 2.54 -0.14 -5.2% EKTTITAB 2.86 -0.13 -4.3%

top volume symbol value (AED) price AJMANBANK 778,357,063 3.17 FGB 351,040,505 29.05 METHAQ 344,168,751 7.36 ALDAR 315,656,484 12.90 AABAR 279,323,888 4.09

Dubai Financial Market

The DFM index closed at 5,531 a fall of 0.16% from the previous close. 490 million shares were traded worth 1.6 billion dirhams. Eight shares advanced and fifteen declined.
The top traded share was AJMANBANK closing limit up 15% at 3.17 dirhams on volume of 257 million shares traded.

Other shares to rise included: Arabtec (ARTC) 16.55 (0.91%), Dubai Investments (DIC) 3.96 (1.79%), Union Properties (UPP) 5.43 (3.42%) and GGICO 8.25 (2.23%).

Shares to fall included: AIRARABIA 1.87 (1.05%), DEYAAR 2.17 (2.25%), DFM 5.16 (1.14%), Emaar Properties (EMAAR) 10.95 (0.45%) and GULFNAV 1.74 (0.57%).

Abu Dhabi Securities Market

The ADX index closed at 5,096 a rise of 1.05% from the previous close. 437 million shares were traded worth 2.2 billion dirhams. Twenty seven shares advanced and fourteen declined.
Dana Gas (DANA) topped trading rising 2.50% to 2.05 dirhams on turnover of 89 million shares.

Other shares to rise included: First Gulf Bank (FGB) 29.05 (4.12%), SIB 3.09 (3.69%), Aldar Properties (ALDAR) 12.90 (1.57%), Sorouh Real Estate (SOROUH) 9.65 (0.84%), Aabar Petroleum (AABAR) 4.09 (7.63%), ARKAN 6.25 (0.32%) and METHAQ 7.36 (2.36%).

Shares to fall included: RAK Cement (RAKCC) 3.82 (0.52%), ADAVIATION 4.84 (1.22%), Gulf Cement (GCEM) 6.47 (0.46%) and Bank Of Sharjah (BOS) 3.06 (0.97%).

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