UAE markets 08 Jul 2008

UAE market news & discussions for 08 July 2008 Another dismal day on UAE markets today. Both the DFM and ADX indicies ended lower with losses across the board. The value of shares traded was low with under AED one billion on the DFM and just over AED one billion traded on the ADX. On the DFM, EMAAR continues to slide closing at 10.25 dirhams on worries about its H1 results being impacted by exposure to the USA property market. On the ADX, METHAQ was the top traded share closing 0.43% down at 6.98 dirhams. DIFX DAMAS started traded today closing on its highs of $1.05. Volume was a modest 331,000 shares traded. DPW closed steady at $.80 on volume of 4.5 million shares. Sharewadi Calendar 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? Friday, 11 July 2008 DrakeScull IPO subscription period TAQA convertible bond subscription period? Saturday, 12 July 2008 DrakeScull IPO subscription period TAQA convertible bond subscription period?

• Marketwatch ADX DFM July 2008
• ACICO Global report
• Air Arabia report EFG
• METHAQ 2008Q2 profit Dh1.5m
• DIB Hamad loan
• Insider trades July 2008
• EMAAR 08Q2 forecast EFG
• Damas 2008Q2 profit +20%?
• Damas IPO
• Emarat Emirates Takaful IPO
• AABAR convertible bond
• Drake Scull IPO
• Agility Japan Korea Guam contracts
• DIFX new CEO
• DME US regulator concerns
• TAMWEEL Sukuk rating
• Al Madina rights issue
• Etisalat Omantel
• TAQA North Sea assets
• Tabreed cool rewards
• AIRARABIA 2008 revenue forecast +17% to Dh1.5bn
• IPO questions
• AMLAK 2008H1 profit Dh270m +155%
• Rising tension between Iran and Israel
• Emirates NBD Uralsib loan

More UAE stock market news and discussions...

best stock rises symbol price change TKFL 7.81 +0.71 +10% NCTH 13.30 +1.20 +9.9% NBQ 6.46 +0.26 +4.2% DRC 16.65 +0.65 +4.1% ENBD 12.00 +0.30 +2.6%

worst stock falls symbol price change GFH 14.50 2.00 16% ALSALAMSUDAN 4.51 0.59 15.1% FBICO 4.25 0.43 11.3% UNION 4.00 0.35 9.6% AGTHIA 2.71 0.17 6.7%

top volume symbol value (AED) price METHAQ 375,124,162 6.98 EMAAR 317,878,063 10.25 ALDAR 219,173,573 12.60 SOROUH 143,085,523 9.77 AIRARABIA 111,027,697 1.69

Dubai Financial Market

The DFM index closed at 5,362 a fall of 0.41% from the previous close. 213 million shares were traded worth 865 million dirhams. Four shares advanced and twenty declined.
The Top traded share was AIRARABIA, falling 3.42% to 1.69 dirhams on turnover of 65 million shares. Emaar Properties (EMAAR) continues to decline, falling 1.44% to 10.25 dirhams.

Other shares to fall included: Tabreed (TABREED) 2.34 (0.84%), DFM 4.93 (0.40%), Arabtec (ARTC) 17.80 (0.83%) and AJMANBANK 2.85 (4.04%).

Shares to rise included: Du Telecom (DU) 5.61 (0.53%), Emirates NBD (ENBD) 12.00 (2.56%) and Shuaa Capital (SHUAA) 7.61 (0.13%).

Abu Dhabi Securities Market

The ADX index closed at 5001 a fall of 0.87% from the previous close. 170 million shares were traded worth 1 bilion dirhams. Thirteen shares advanced and thirty one declined.
The top traded share was METHAQ falling 0.43% to 6.98 dirhams on turnover of 53 million shares.

Other shares to fall included: Aabar Petroleum (AABAR) 4.35 (5.02%), Aldar Properties (ALDAR) 12.60 (1.95%), First Gulf Bank (FGB) 27.70 (1.81%) and Sorouh Real Estate (SOROUH) 9.77 (0.31%).

Shares to rise included: ARKAN 6.14 (0.99%), Abu Dhabi National Energy (TAQA) 3.01 (0.33%), NBQ 6.46 (4.19%) and Abu Dhabi Islamic Bank (ADIB) 6.29 (0.16%).

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