UAE markets 07 Jul 2008

UAE market news & discussions for 07 July 2008 Both UAE market indices fell today by a little under one percent. The value of shares traded was just over one billion dirham on the DFM and around 1.5 billion on the ADX. On the DFM, EMAAR continues to slip closing at 10.40 dirhams and AIRARABIA descended a further 2.77% to 1.75 dirhams. On the ADX, AABAR closed nearly 10% lower at 4.58 dirhams and METHAQ lost 7.88% to 7.01 dirhams. Results METHAQ 2008 Q2 profit Dhs 1.5 million GGICO 2008 H1 profit Dhs 505 million up 93% from the previous corresponding period (pcp) SALM_BAH 2008 H1 profit Dhs 149 million up 9% (pcp) Other News TABREED won 6 environmental awards from The Int District Cooling Assoc but its share price fell by 2.9% today. Sunday, SHUAA closed its Hospitality Fund 1 with a total commitment of $165 million. It seemd liqudity for the right kind of product is not a problem. More see Sharewadi News Sharewadi Calendar Tuesday, 08 July 2008 DAMAS first day of trading on DIFX (approximately, unconfirmed) Drake & Scull IPO subscription start date GCIC excess subscriptions refunded by today NBAD EGM at 5:00pm - convertible notes to employees TAQA convertible bond subscription period? Wednesday, 09 July 2008 Drake Scull IPO subscription period GCIC Green Crescent IPO founding general assembly meeting GAM TAQA convertible bond subscription period? Thursday, 10 July 2008 Drake Scull IPO subscription period GRAND EGM (deferred from 12 June 2008), agenda not supplied TAQA convertible bond subscription period?

• Al Madina rights issue
• TAMWEEL Sukuk rating
• Etisalat Omantel
• TAQA North Sea assets
• Tabreed cool rewards
• AABAR convertible bond
• AIRARABIA 2008 revenue forecast +17% to Dh1.5bn
• METHAQ 2008Q2 profit Dh1.5m
• Drake Scull IPO
• IPO questions
• Marketwatch ADX DFM July 2008
• AMLAK 2008H1 profit Dh270m +155%
• Rising tension between Iran and Israel
• Emirates NBD Uralsib loan
• Waha Dunia Finance
• Insider trades July 2008
• Salam Bahrain 2008H1 profit 150m +9%
• NBAD IPIC loan
• TAQA convertible bond AED 4.15 bn
• Arabtec government contract Dh3bn
• DFM net foreign selling Dh774m last week
• ADX to list ETFs by end of 2008
• MASQ Banque du Caire Egypt bid
• ADX ETFs
• Tabreed Morgan Stanley report

More UAE stock market news and discussions...

best stock rises symbol price change FBICO 4.68 +0.42 +9.9% DRIVE 7.89 +0.46 +6.2% OEIHC 4.07 +0.22 +5.7% ASMAK 28.25 +1.25 +4.6% RAPCO 4.65 +0.20 +4.5%

worst stock falls symbol price change GRAND 3.02 -0.53 -14.9% ARIG 3.21 -0.36 -10.1% TKFL 7.10 -0.72 -9.2% METHAQ 7.01 -0.60 -7.9% AJMANBANK 2.97 -0.18 -5.7%

top volume symbol value (AED) price EMAAR 384,585,464 10.40 AABAR 263,453,813 4.58 SOROUH 258,561,255 9.80 METHAQ 202,305,071 7.01 AGTHIA 160,035,540 2.88

Dubai Financial Market

The DFM index closed at 5,384 a fall of 0.79% from the previous close. 272 million shares were traded worth 1.16 billion dirhams. Seven shares advanced and twenty declined.
The top traded share by volume was AIRARABIA falling 2.77% to 1.75 dirhams. Emaar Properties (EMAAR) was the top traded share by value falling a further 1.42% to 10.40 dirhams. It remains friendless and it is hard to see what will turn the share price around apart from outstanding results.

Other shares to fall included: AJMANBANK 2.97 (5.71%), DFM 4.95 (0.80%), and DEYAAR 2.05 (1.54%).

Shares to rise included: Amlak Finance (AMLAK) 4.64 (2.65%), Dubai Islamic Bank (DIB) 8.16 (0.61%), GULFNAV 1.65 (1.2%) and Tamweel (TAMWEEL) 8.25 (1.47%).

Abu Dhabi Securities Market

The ADX index closed at 5,042 a fall of 0.90% from the previous close. 293 million shares were traded worth 1.4 billion dirhams. Fifteen shares advanced and twenty seven declined.
The top traded share was Aabar Petroleum (AABAR) falling 9.96% to 4.58 dirhams on turnover of 57 million shares traded.

Other shares to fall included: Aldar Properties (ALDAR) 12.85 (1.15%), AGTHIA 2.88 (3.68%), RAK Cement (RAKCC) 3.80 (4.28%) and METHAQ 7.01 (7.88%).

Shares to rise included: WAHA 2.64 (1.54%) and Sorouh Real Estate (SOROUH) 9.80 (0.41%).

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