UAE markets 16 Jul 2008

UAE market news & discussions for 16 July 2008 Althought the recipient of all those petro dollars courtesy of the high oil price causing so much grief in western markets, both the DFM and ADX indicies followed the world trend and finished down by more than one percent today. The value of shares traded continues to be low with just over one billion on the ADX and just under on the DFM. AJMANBANK was the top traded share on the DFM closing steady at 3.37 dirhams on turnover of 65 million shares. SHUUA closed down 3.71% at 7.25 after yesterdays limit up rise. Emaar shares closed down another 1.46% to 10.10 with news today it was putting a further $150 million into its Indian JV. The repercussions of missing the IPO are still being felt. On the ADX, METHAQ accounted for nearly half of all the trading by value closing 6.67% up at 7.36 dirhams with 73 million shares traded. On the DIFX as at 3.45pm DAMAS $1.00 down 2.91% on volume of 500,000. DPW $ 0.76 down 2.56% on volume of 2 million. Results ADIB 2008 H1 profit AED520 million, up 50.4% pcp NBS 2008 Q1 profit AED 79.4 million, up 55% pcp Sharewadi Calendar Tuesday, 15 July 2008 DFM 08Q2 financial statements (pm, DFM website) DrakeScull IPO subscription period GCIC IPO founding general assembly meeting GAM (postponed from 09 & 13 July 2008?) METHAQ 08Q2 financial statements (pm, ADX website) TAQA convertible bond subscription period? UAB 08Q2 results? SW estimate Wednesday, 16 July 2008 DrakeScull IPO subscription period EIB 08Q2 results before today (EIB disclosure) FCI BOD meeting, 08Q2 results? Agenda not supplied. EMAAR 08Q2 preliminary results? SW estimate ETISALAT BOD meeting at 6:00pm to discuss 08Q2 / 08 H1 dividend Thursday, 17 July 2008 DrakeScull IPO subscription end date ETISALAT 08Q2 results? SW estimate (already released Monday 14 July 2008) GGICO 08Q2 results? SW estimate JULPHAR BOD meeting, agenda not supplied. 08Q2 results? NBQ 08Q2 results? SW estimate Sunday, 20 July 2008 AHI 08Q2 results? SW estimate ALFIRDOUS AGM, agenda not supplied. 08Q2 results? DEYAAR 08Q2 results? SW estimate NBS (SIB) 08Q2 results? SW estimate PALTEL BOD meeting 08Q2 results and other items (agenda supplied) RAKBANK 08Q2 results? SW estimate

• ADX Standard Chartered custody agreement
• DFM shares downgraded by Morgan Stanley
• ADIB foreign ownership
• Marketwatch ADX DFM July 2008
• UAE property HSBC report
• EIB 07Q3 profit Dh69m +165%
• EMAAR 08Q2 forecast EFG
• UAE poor corporate governance
• DEYAAR managing National Bonds properties
• Per Larsson to UBS (not ADX)
• EMAAR $150m investment in MGF
• SOROUH Emirates Foundation JV
• QTEL Rachmat Gobel Indonesia
• NBS SIB 2008Q2 results
• ADIB 2008Q2 results
• Air Arabia report EFG
• RAK Properties
• AMLAK 2008H1 profit Dh270m +155%
• DFM 08Q2 profit Dh250m +33%
• Drake Scull IPO
• Insider trades July 2008
• METHAQ 2008Q2 profit Dh1.5m
• Dubai property reports
• UNB ISO certification
• DIC Emirates Float Glass 2nd plant

More UAE stock market news and discussions...

best stock rises symbol price change METHAQ 7.36 +0.46 +6.7% UCC 5.00 +0.25 +5.3% CBD 10.00 +0.40 +4.2% ADAVIATION 4.40 +0.10 +2.3% QTEL 184.90 +3.00 +1.6%

worst stock falls symbol price change NMDC 11.25 -1.25 -10% DRIVE 6.99 -0.75 -9.7% CBI 2.84 -0.23 -7.5% ADNH 7.69 -0.49 -6% ENBD 11.40 -0.55 -4.6%

top volume symbol value (AED) price METHAQ 543,925,564 7.36 ALDAR 268,580,517 11.50 AJMANBANK 217,197,551 3.37 SOROUH 122,119,214 8.84 EMAAR 99,797,327 10.10

Dubai Financial Market

The DFM index closed at 5,223 a fall of 1.32% from the previous close. 215 million shares were traded worth 864 million dirhams. Four shares advanced and fifteen declined.
On a low turnover day AJMANBANK dominated trading closing steady at 3.37 dirhams with 65 million shares traded.

Shares to fall included: Arabtec (ARTC) 17.65 (2.48%), DFM 4.58 (1.71%), Emaar Properties (EMAAR) 10.10 (1.46%), Shuaa Capital (SHUAA) 7.25 (3.71%) and AIRARABIA 1.53 (1.92%).

Shares to rise included: Amlak Finance (AMLAK) 4.30 (1.41%), Dubai Investments (DIC) 3.68 (0.82%) and Tamweel (TAMWEEL) 8.25 (1.60%).

Abu Dhabi Securities Market

The ADX index closed at 4,888 a fall of 1.04% from the previous close. 203 million shares were traded worth 1.2 billion dirhams. Seven shares advanced and twenty eight declined.
METHAQ up 6.67% to 7.36 dirhams accounted for over half the value of shares traded.

Other shares to rise included: First Gulf Bank (FGB) 27.70 (0.73%) and Abu Dhabi National Energy (TAQA) 2.88 (0.35%).

Shares to fall included: Abu Dhabi Islamic Bank (ADIB) 6.06 (0.33%), Aldar Properties (ALDAR) 11.50 (3.77%), Sorouh Real Estate (SOROUH) 8.84 (2.96%) and Aabar Petroleum (AABAR) 4.50 (3.43%)

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