UAE markets 23 Jul 2008

UAE market news & discussions for 23 July 2008 A bumper day on the DFM today with the index climbing over 3% and the value of shares traded over 2 billion dirhams. All the main stocks were up including AJMANBANK, DFM and DIC up over 6% and AIRARABIA and EMAAR up over 5% all on strong volumes. The ADX index climbed 0.70% with the value of shares traded over one billion dirhams. Real estate stocks lead the way with ALDAR up 5%, RAKPROP up 3% and SOROUH up 3%. On the DIFX DEPA $1.33 down 1.48% on volume of 1.2 million shares traded DPW $0.80 up 1.27% on volume of 4.3 million shares traded. Results NMDC 2008 H1 profit, 124m up 38% from the pcp ARIG 2008 H1 profit, 42m down 38% from the pcp RAKPROP H1 profit, 225m down 18% from the pcp Sharewadi calendar Thursday, July 24 ARIG 08Q2 results due before ETISALAT 2008 25% interim dividend ex-dividend date NBAD BOD meeting, 08Q2 results? Agenda not supplied. SOROUH BOD meeting - 08Q2 results? Agenda not supplied. Saturday, July 26 All day SALAM BOD meeting - maybe 08Q2 results (disclosure not clear) Sunday, July 27 All day ETISALAT 2008 25% interim dividend record date GPI BOD meeting 08Q2 results this week? Agenda and date not supplied. IIG BOD meeting, agenda not supplied

• Waha 08Q2 results
• RAKBANK 08Q2 profit Dh170m +76%
• NMDC 08Q2 profit Dh89m +57%
• RAKPROP 08Q2 profit Dh110m -36%
• Marketwatch ADX DFM July 2008
• Dar Takaful IPO
• GGICO Horizon Bitumen products
• AWNIC 08Q2 profit Dh24m +115%
• ARIG 08Q2 profit Dh31m -23%
• ALDAR 2008 Q2 results due 29 July
• ABNIC S&P rating
• Etisalat Informa report
• ADCB Al Mal report
• ADCB Beltone research
• Emirates NBD Saudi
• Emirates NBD 08Q2 profit Dh1.5bn +45%
• ENBD 2008 Q1 profit AED 1.2bn +108% 30 Apr 2008
• CBD Moody's rating
• MENA shipping outlook
• RAK Properties
• EMAAR accounting standards
• Emaar Economic City 08Q2 loss $11m
• TAMWEEL 08Q2 profit Dh210m +266%
• Emarat Emirates Takaful IPO
• DIC - A Good buy? - analysis

More UAE stock market news and discussions...

best stock rises symbol price change ALSALAMSUDAN 5.00 +0.50 +11.1% UNION 4.51 +0.41 +10% AJMANBANK 3.37 +0.21 +6.6% DFM 4.82 +0.29 +6.4% DIC 3.95 +0.23 +6.2%

worst stock falls symbol price change FBICO 3.98 -0.44 -10% TKFL 7.11 -0.62 -8% SCIDC 5.11 -0.33 -6.1% GMPC 3.53 -0.22 -5.9% NBQ 6.10 -0.20 -3.2%

top volume symbol value (AED) price EMAAR 443,008,940 10.60 AJMANBANK 356,671,153 3.37 ALDAR 235,357,088 12.55 DFM 216,938,443 4.82 METHAQ 199,737,487 7.72

Dubai Financial Market

The DFM index closed at 5,457 a rise of 3.02% from the previous close. 536 million shares were traded worth 2 billion dirhams. Twenty six shares advanced and two declined.
The top traded share by volume was AIRARABIA rising 5.73% to 1.66 dirhams on turnover of 113 million shares. Emaar Properties (EMAAR) topped the trading by value rising 5.47% to 10.60 dirhams with over 400 million dirhams worth of trading.

Other shares to rise included: AJMANBANK 3.37 (6.64%), DEYAAR 2.13 (4.41%), DFM 4.82 (6.40%), Dubai Investments (DIC) 3.95 (6.18%), GULFNAV 1.72 (3.61%), Islamic Arab Insurance (IAIC) 2.93 (4.27%) and Union Properties (UPP) 5.54 (3.94%).

Emirates NBD (ENBD) 11.80 (0.84%) was the only share to fall on significant volume.

Abu Dhabi Securities Market

The ADX index closed at 4,984 a rise of 0.70% from the previous close. 215 million shares were traded worth 1.2 billion dirhams. Twenty nine shares advanced and fourteen declined.
The top traded share was Dana Gas (DANA) rising 2.22% to 1.84 dirhams on turnover of 30 million shares.

Other shares to rise included: Union National Bank (UNB) 9.39 (1.62%), Aldar Properties (ALDAR) 12.55 (5.02%), RAK Properties (RAKPROP) 1.96 (3.16%), Sorouh Real Estate (SOROUH) 9.24 (3.24%), Aabar Petroleum (AABAR) 4.61 (1.10%), METHAQ 7.72 (0.78%).

Shares to fall included: First Gulf Bank (FGB) 27.80 (0.54%), ADNH 7.95 (1.61%), ARKAN 6.49 (1.96%)

Etisalat (ETISALAT) closed steady on 20.00 dirhams.

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