UAE markets 17 Jul 2008

UAE market news & discussions for 17 July 2008 Both UAE markets tread water today. The DFM index closed slightly down and the ADX closed a little higher. The value of shares traded improved a little with about 1.5 billion dirhams worth of shares trading on each market. However trading is still dominated by AJMANBANK on the DFM and METHAQ on the ADX. In the broader market trading is still subdued. On the DIFX as at 3.45 DAMAS $1.03 up 3% with 50,000 shares traded DPW $ 0.77 up 1.32% with 938,000 shares traded DEPA $1.40 up 1.45% with 50 shares traded. Profit Results UAB 2008 H1 121 million, up 27% from pcp. Sharewadi Calendar 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

• EMAAR 08Q2 profit Dh1.56bn +7%
• Drake Scull IPO
• ETISALAT 08Q2 profit Dh3bn +58%
• Marketwatch ADX DFM July 2008
• NBS 2008Q2 profit Dh110m +60%
• DFM Technicals as of 16 July Close
• GMPC 08Q2 profit Dh26m +32%
• Analysis for methaq..
• UAB 08Q2 profit Dh66m +35%
• RERA Dubai
• UAE property HSBC report
• EIB 2008Q2 profits leaked?
• DFM Morgan Stanley rating
• ADX Standard Chartered custody agreement
• ADIB foreign ownership
• EIB 07Q3 profit Dh69m +165%
• 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
• ADIB 2008Q2 results
• Air Arabia report EFG
• RAK Properties

More UAE stock market news and discussions...

best stock rises symbol price change METHAQ 7.90 +0.54 +7.3% ASMAK 29.30 +1.85 +6.7% OILC 2.50 +0.08 +3.3% AABAR 4.62 +0.12 +2.7% ENBD 11.70 +0.30 +2.6%

worst stock falls symbol price change GRAND 2.90 -0.49 -14.5% ABNIC 9.27 -1.03 -10% UNION 4.00 -0.35 -8% ALFIRDOUS 2.24 -0.11 -4.7% ALSALAMSUDAN 4.30 -0.20 -4.4%

top volume symbol value (AED) price METHAQ 663,401,280 7.90 AJMANBANK 264,137,375 3.34 AABAR 232,279,747 4.62 EMAAR 219,783,024 10.05 AIRARABIA 139,431,876 1.53

Dubai Financial Market

The DFM index closed at 5,222 a fall of 0.02% from the previous close. 282 million shares were traded worth 1.63 billion dirhams. Seven shares advanced and fourteen declined.
AIRARABIA topped trading closing steady on 1.53 dirhams on turnover of 89 million shares. This was closely follwed by AJMANBANK falling 0.89% to 3.34 dirhams on turnover of 77 million shares.

Other shares to fall included: DEYAAR 1.99 (0.99%) and DFM 4.54 (0.87%).

Shares to rise included: Shuaa Capital (SHUAA) 7.30 (0.68%), ARAMEX 2.35 (0.42%), Dubai Islamic Bank (DIB) 7.80 (0.64%), Islamic Arab Insurance (IAIC) 2.79 (0.35%) and Tabreed (TABREED) 2.23 (0.45%).

Abu Dhabi Securities Market

The ADX index closed at 4,889 a rise of 0.02% from the previous close. 234 million shares were traded worth 1.4 billion dirhams. Twenty four shares advanced and twelve declined.
METHAQ topped trading rising 7.34% to 7.90 dirhams on turnover of 83 million shares.

Other shares to rise included: WAHA 2.50 (3.31%), Sorouh Real Estate (SOROUH) 8.87 (0.34%), AGTHIA 2.76 (1.47%), ARKAN 6.29 (0.64%) and Aabar Petroleum (AABAR) 4.62 (2.67%).

Shares to fall included: First Gulf Bank (FGB) 27.35 (1.26%) and Etisalat (ETISALAT) 19.70 (0.76%).

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