UAE markets 29 Sep 2008

UAE market news & discussions for 29 September 2008 Both markets rose today, the last day of trading before the Eid break (markets reopen on Sunday 05 October 2008), with Dubai up 1.7% and increased turnover, and Abu Dhabi up 0.4% on lower turnover. Emaar stood out in Dubai with one of the better gains on heavy trading, Tabreed also had a good rise. In Abu Dhabi, ADCB had a bit rise again but Aldar and Methaq stood out with losses. Reuters reported Arabtec as looking to Saudi for expansion to compensate for a possible downturn in the UAE property market. Arabtec shares fell today. Reuters also reported Dubai Investments as expecting Q3 profit to double after a private placement of shares in M'Sharie. DIC shares rose slightly. More UAE business news Dubai Financial Market Emaar Properties (EMAAR) turnover of AED 536m was more than a third of the total in Dubai, their shares were up 3.3% to 7.75. TAKAFUL-EM was the only other stock trading more than AED 100m and fell 1.9% to 4.20. Tabreed (TABREED) stood out in the gainers list with a 3.8% rise to 1.64 but on light trading. The top 4 gainers saw trading of less than 100k dhs each. GGICO was up 2.7% and the remainder trading more than AED 1m were up by less than 2%. Arabtec (ARTC) fell 2%, Tamweel (TAMWEEL) 1%, and another 6 stocks fell about 1% or less, except for the single small trade in International Financial Advisors (IFA). Abu Dhabi Securities Market Aldar Properties (ALDAR) was the only stock trading more than AED 100m and fell 2.5% to 7.81 with almost AED 400m of turnover - more than half of the total for the ADX. Abu Dhabi Commercial Bank (ADCB) was the most significant gainer as it jumped by 8.6% to 6.79 on greater than usual trading, despite the boss saying yesterday they had no information on merger rumours. No other stocks rose more than 2% except for some thinly traded stocks. National Bank of Abu Dhabi (NBAD) was up 1.7%, and Etisalat (ETISALAT) up by 0.9%. Apart from Aldar, METHAQ stood out as the biggest loser, except for relatively inactive stocks, and fell 3.9% to 7.77. Methaq was also the second highest stock by traded value. ARKAN had a 2.4% fall and the remaining actively traded losers were down by less than 2%.

• Marketwatch DFM ADX September 2008
• Emaar trading range: between 7 and 8
• ARTC bear confirmed
• TAMWEEL price forecast update
• Arabtec Sunland contract

More UAE stock market news and discussions...

best stock rises symbol price change GFH 11.90 +1.55 +15% NMDC 6.98 +0.63 +9.9% AWNIC 7.88 +0.71 +9.9% ADCB 3.53 +0.28 +8.6% ADSB 4.95 +0.34 +7.4%

worst stock falls symbol price change IFA 6.55 -1.15 -14.9% ASMAK 29.75 -3.30 -10% SICO 5.27 -0.56 -9.6% FH 11.40 -0.55 -4.6% INVESTB 3.46 -0.14 -3.9%

top volume symbol value (AED) price EMAAR 535,529,507 7.75 ALDAR 397,862,883 7.97 TAKAFUL-EM 232,952,636 4.20 ARTC 95,726,677 12.50 DFM 79,478,220 3.39

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UAE markets 28 Sep 2008

UAE market news & discussions for 28 September 2008 Both markets gained about 2.5% on turnover of over AED 700m each, the ADX closing a little below 4000 points, and the DFM above 4000 points by about the same amount. Sorouh and ADCB rose almost 7% each in Abu Dhabi, and Dubai Islamic Bank was up 5.6% in Dubai. Arabtec announced another contract (worth AED 2.4 billion) but shares were almost flat today. NBAD and ADCB said they had no information about last week's bank merger rumours but the market spoke on their behalf - both stocks rose today. Standard Chartered repeated their standard charter on Dubai real estate - a market correction is due soon. Dubai Financial Market Emaar Properties (EMAAR) was the only stock trading more than AED 100m in Dubai today, with a 3.0% gain to 7.50. Emirates NBD (ENBD) with a 4.8% rise helped drag up the DFMGI index but trading in the bank's shares was almost negligible. Dubai Islamic Bank (DIB) was the best gainer, up 5.6% to 5.82. Tabreed (TABREED) was up 4.6%, Tamweel (TAMWEEL) 3.8%, DFM 3.4%, Emaar Properties (EMAAR) 3.0% to 7.50, and the rest of the gainers rose by less than 3%. Du Telecom (DU) was the only loser trading more than AED 1m, and fell just 0.6%. The two stocks falling 15% did so on total turnover of less than AED 1m between them. Abu Dhabi Securities Market Aldar Properties (ALDAR) had a 3.2% rise to 8.01 and was at the top of the turnover table. METHAQ was the only other stock with more than AED 100m of shares traded, and fell 1.2%. The top 4 gainers rose on less than half a million dhs worth of trading between them. Sorouh Real Estate (SOROUH) and Abu Dhabi Commercial Bank (ADCB) both rose 6.9% putting them at the top of the actively traded gainers list, and closed at 6.79 and 3.34 respectively. RAK Cement (RAKCC) was up 4.35%, National Bank of Abu Dhabi (NBAD) 4.3% and most other stocks rose less than 4%. Etisalat (ETISALAT) was up 3.1% to 16.90. Apart from Methaq, Union National Bank (UNB) falling 2.2% and Gulf Cement (GCEM) 1.2% were the only losers on turnover of more than AED 1m, out of the nine in total.

• Marketwatch DFM ADX September 2008
• ARTC bear confirmed
• TAMWEEL price forecast update
• Saudi Tadawul index up
• Introduce yourself here and read about other DST forumers...
• Emaar trading range: between 7 and 8
• Al Dar crumbling
• Shuaa DFSA Investigation
• Fibonacci

More UAE stock market news and discussions...

best stock rises symbol price change CBI 3.14 +0.28 +9.8% ADSB 4.61 +0.41 +9.8% RAPCO 3.97 +0.35 +9.7% FH 11.95 +0.90 +8.1% ADCB 3.25 +0.21 +6.9%

worst stock falls symbol price change ALMADINA 6.65 -1.17 -15% GFH 10.35 -1.80 -14.8% OEIHC 3.46 -0.34 -8.9% NMDC 6.35 -0.40 -5.9% ALFIRDOUS 1.70 -0.08 -4.5%

top volume symbol value (AED) price EMAAR 255,428,847 7.50 ALDAR 247,610,928 8.17 METHAQ 164,713,477 8.26 SOROUH 89,199,059 6.81 ARKAN 74,016,128 6.30

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UAE markets 25 Sep 2008

UAE market news & discussions for 25 September 2008 A strong perfomance on both markets today with good gains and increased turnover in Abu Dhabi. The DFMGI was up 1.9% to 3962 points from a little under AED 1 billion of traded value, and the ADX up 0.67% to 3837 points with AED 1.5 billion of total traded value. Massive trading in Methaq Insurance lifted total trading in Abu Dhabi to a higher level than in Dubai. On the DIFX, DP World is down 4.2%, Depa down 3.3%, and Gold Fields up 1.5%. There was a report in the Al Khaleej Times that six UAE banks and real estate companies would be involved in a mergers. The companies were not named. Sorouh and First Gulf Bank saw heavy trading and solid gains in Abu Dhabi, Union National Bank had a big jump on thin trading, Tamweel and Union Properties in Dubai also saw good rises on active trading. UAE business news Dubai Financial Market Emaar Properties (EMAAR) edged up by 0.83% to 7.28 from AED 318m of turnover. Arabtec (ARTC) also saw more than AED 100m of turnover and jumpeed by 6.7% to 12.70. Shuaa Capital (SHUAA) was a surprise after yesterday's bad news, heading north by 5.6% to 4.17 but trading volume was low. Tamweel (TAMWEEL), AIRARABIA, and Union Properties (UPP) all rose about 5%, GGICO was up 4.5% on greater than usual turnover, GULFNAV gained 4.6%, Tabreed (TABREED) 4.1% and most other actively traded stocks were up 2%-4%. Of the 5 losers, only Emirates NBD (ENBD) saw more than AED 1 m of turnover, and fell by just 0.6% to 8.35. Abu Dhabi Securities Market METHAQ barely moved, rising by just 0.48% to 8.08, but as mentioned, was heavily traded with over AED 600m worth of deals. Aldar Properties (ALDAR) was also busy with over AED 400m of turnover and a 0.9% gain to 8.12. Sorouh Real Estate (SOROUH) and First Gulf Bank (FGB) both saw more than AED 100m of traded value and rose 6.3% and 5.9% respectively. Invest Bank (INVESTB) was up 9.2% to 3.45 on greater than usual trading, similarly with ADNH up 9.6% to 5.48. Union National Bank (UNB) jumped by 8.1% to 6.50 on thin trading. RAK Properties (RAKPROP) was up 2.1% and the remaining gainers rose less than 2% or on thin trading. UNION stood out in the loser's list with greater than usual trading and a 6.65% fall to 4.20. National Bank of Abu Dhabi (NBAD) fell 1.75%, and Etisalat (ETISALAT) 1.2%.

• Marketwatch DFM ADX September 2008
• UPP is correcting
• Shuaa DFSA Investigation
• DP World 55 cent
• Real Estate Price Correction Impact on the Stock Market
• What to do?
• Emaar trading range: between 7 and 8
• What to buy?

More UAE stock market news and discussions...

best stock rises symbol price change ADNH 5.47 +0.48 +9.6% INVESTB 3.45 +0.29 +9.2% UNB 6.93 +0.52 +8.1% AKIC 2.32 +0.17 +7.9% BILDCO 3.70 +0.24 +6.9%

worst stock falls symbol price change NMDC 6.75 -0.75 -10% UNION 4.35 -0.31 -6.7% RAKCC 2.30 -0.12 -5% ALFIRDOUS 1.78 -0.09 -4.8% NCC 8.00 -0.39 -4.6%

top volume symbol value (AED) price METHAQ 604,468,837 8.36 ALDAR 430,877,322 7.92 EMAAR 318,465,837 7.28 SOROUH 144,611,497 6.37 ARTC 120,190,501 12.70

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UAE markets 24 Sep 2008

UAE market news & discussions for 24 September 2008 Both markets declined yet again, the DFM plunging by 4% to 3890 points but turnover less than AED 800 million, and the ADX down 2.3% to 3811 points with turnover a bit over half a billion dirhams. Shuaa Capital was reported to be under investigation by the DFSA with both organisations not commenting about it ... yet. What would Warren Buffet say? As it happens, he's planning to sink $5 billion into Goldman Sachs in the US. Will "sink" turn out to be an apt description? Dubai Financial Market In Dubai, Emaar Properties (EMAAR) traded over AED 200m and fell 3.7% to 7.22. TAKAFUL-EM, the only other stock with more than AED 100m of traded value, plummeted by 11% to 4.13, reversing all the gains of the previous 2 days. Shuaa Capital (SHUAA) and Amlak Finance (AMLAK) also fell 11%, to 3.95 and 3.10 respectively. Tamweel (TAMWEEL) and Dubai Islamic Bank (DIB) both fell more than 7%, Islamic Arab Insurance (IAIC) fell 6.2%, DARTAKAFUL, Union Properties (UPP), and DFM fell more than 5%, and most of the remaining actively traded stocks fell 3-5%. Aramex (ARMX) had an almost good day with a fall of only 0.5%. There were no gainers in Dubai today. Abu Dhabi Securities Market In Abu Dhabi, the property stocks were pushed aside as METHAQ and, surprisingly, Etisalat (ETISALAT) dominated the floor - both with more than AED 100 million of turnover. Methaq was up 5.05% to 7.95, and Etisalat fell 3.3% to 16.00. Union National Bank (UNB) was the only other gainer of note, rising by 1.75% to 6.41 but on light trading. The top 7 losers all fell on thin trading. RAK Cement (RAKCC) was the biggest loser on greater than AED 1m of turnover, down by 5.5% to 2.38. ARKAN, the star of the week, went into reverse and fell 4.6% to 6.03. National Bank of Abu Dhabi (NBAD) was down 4.4%, AGTHIA 4.2%, and the rest falling between 0% and 4%. Aldar Properties (ALDAR) and Sorouh Real Estate (SOROUH) both fell over 1%.

• Real Estate Price Correction Impact on the Stock Market
• Emaar trading range: between 7 and 8
• Shuaa Capital Under DFSA Investigation
• What to buy?
• Marketwatch DFM ADX September 2008

More UAE stock market news and discussions...

best stock rises symbol price change DRIVE 6.50 +0.45 +7.4% ASMAK 33.00 +1.90 +6.1% UNION 4.66 +0.23 +5.2% METHAQ 8.32 +0.40 +5.1% GMPC 4.00 +0.17 +4.4%

worst stock falls symbol price change SHUAA 3.95 -0.51 -11.4% TAKAFUL-EM 4.13 -0.51 -11% AMLAK 3.10 -0.38 -10.9% INVESTB 3.16 -0.34 -9.7% FOODCO 3.96 -0.39 -9%

top volume symbol value (AED) price EMAAR 232,784,056 7.22 METHAQ 120,817,175 8.32 TAKAFUL-EM 119,170,031 4.13 ETISALAT 100,033,387 16.30 ALDAR 89,957,599 7.85

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UAE markets 23 Sep 2008

UAE market news & discussions for 23 September 2008 After a roaring start to the week, the markets are back on the slippery slope with DFM down 3.6% to 4051 points and a little over AED 1 billion of trading, and ADX down 2.8% to 3900 points from just under 600 million turnover, joining Asian and European markets which are falling today also. Etisalat has announced they agreed to buy 45% of Swan Telecom in India for $900 million (AED 3.3 billion), but punters still knocked Etisalat shares down by 2%. First Gulf Bank received a 24 dh valuation from Global Investment House, but FGB shares fell 6.5% today. Emaar Properties said yesterday that it had won a court case against Jadawel International in Saudi Arabia - they had put in for a $1.2 billion compensation claim. Dubai Financial Market Emaar Properties (EMAAR) saw turnover of AED 345m and a 4.0% fall to 7.50, TAKAFUL-EM was second highest by turnover and stood out with a big 6.2% gain to 4.64, the only gainer of any significance in Dubai. Union Properties (UPP) was also over 100m worth of turnover and plunged 6.3% to 2.96, almost the worst fall of the day but beaten by Tabreed (TABREED) nose-diving by 7.4% to 1.51. AJMANBANK, Dubai Investments (DIC), Aramex (ARMX), and Arabtec (ARTC) all fell between 5% and 6%, most of the other actively traded stocks fell 3% to 5%. Abu Dhabi Securities Market The Abu Dhabi property companies dominated trading as usual, Aldar Properties (ALDAR) down 5.5% to 7.90 from 250m of turnover, and Sorouh Real Estate (SOROUH) down 7.5% to 6.06 from just over AED 100m of traded value, and also the biggest loser except for 3 stocks with very little trading. First Gulf Bank (FGB) also had a rotten day as mentioned, RAK Properties (RAKPROP), National Bank of Abu Dhabi (NBAD), and Dana Gas (DANA) all fell 5-6%, most other actively traded stocks fell 2-5%. The only gainer on tunover greater than AED 1m was ARKAN, up by just 0.5% to 6.13. Latest Dubai financial news

• Marketwatch DFM ADX September 2008
• What to buy?
• Emaar wins $1.2bn Saudi lawsuit
• Emaar trading range: between 7 and 8
• Aramex price
• Short selling?
• ADY: I Won't Buy ADY Shares
• Tabreed change in management with change in strategy

More UAE stock market news and discussions...

best stock rises symbol price change MAZAYA 11.50 +1.50 +15% TAKAFUL-EM 4.64 +0.27 +6.2% UNION 4.43 +0.13 +3% GMPC 3.83 +0.09 +2.4% NMDC 7.50 +0.12 +1.6%

worst stock falls symbol price change GFH 12.15 -2.10 -14.7% JULPHAR 2.04 -0.22 -9.7% QCEM 2.36 -0.25 -9.6% RAPCO 3.80 -0.39 -9.3% SOROUH 6.09 -0.49 -7.4%

top volume symbol value (AED) price EMAAR 344,642,182 7.50 TAKAFUL-EM 285,979,700 4.64 ALDAR 250,745,760 7.94 SOROUH 116,532,388 6.09 UPP 104,430,321 2.96

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UAE markets 22 Sep 2008

UAE market news & discussions for 22 September 2008 The DFM gave up some of yesterday's big gains with a 2.5% fall to 4201 from turnover of AED 1.8 billion, however, the ADX continued upwards by 1.65% to 4014 from increased turnover of AED 1.5 billion. On the DIFX, DP World is up 6% to $0.71 while Damas and KHI are down 1% and 2% from just one trade each so far today. The UAE Central Bank set up a Dh50 billion lending facility, and a report from CB Richard Ellis Group said sovereign wealth funds may increase their invest in commercial property to $725 billion (Dh2.6 trillion) ... by 2015. And fashion victims will be happy to hear Bloomingdale's of New York will open a shop in Dubai ... in 2010.

• Marketwatch DFM ADX September 2008
• What to buy?
• DP World 55 cent
• Emaar trading range: between 7 and 8
• Aramex price
• Short selling?
• Drake Scull IPO
• Tabreed change in management with change in strategy

More UAE stock market news and discussions...

best stock rises symbol price change SICO 5.83 +0.53 +10% ADNIC 9.64 +0.86 +9.8% ALDAR 8.40 +0.63 +8.1% SOROUH 6.58 +0.47 +7.7% AKIC 2.15 +0.15 +7.5%

worst stock falls symbol price change FH 12.00 -1.25 -9.4% DIC 3.16 -0.21 -6.2% UPP 3.16 -0.21 -6.2% SALAM_BAH 2.00 -0.13 -6.1% DU 4.95 -0.29 -5.5%

top volume symbol value (AED) price EMAAR 595,072,399 7.81 ALDAR 560,437,918 8.40 SOROUH 382,313,791 6.58 TAKAFUL-EM 198,118,498 4.37 AJMANBANK 157,221,699 2.77

Dubai Financial Market

Emaar Properties (EMAAR) was the most heavily traded stock as usual, with almost 600 million of turnover, and fell 3.0% to 7.81. TAKAFUL-EM had AED 200m of turnover and stood out with a 4.3% rise to 4.37, the only gainer of note in Dubai. Four other stocks traded more than AED 100m worth - AJMANBANK down 4.2%, DFM down 2.5%, Union Properties (UPP) down 6.2% and the worst of the losers along with Dubai Investments (DIC), and Arabtec (ARTC) down 2.6%. Du Telecom (DU) was down 5.5% and the rest of the actively traded stocks fell between 2.5% and 5%.

Abu Dhabi Securities Market

Aldar Properties (ALDAR) and Sorouh Real Estate (SOROUH) dominated trading with almost AED 1 billion of turnover between them, and took the top spots on the gainers list (except for a couple of thinly traded stocks) with 8.1% and 7.7% rises to 8.18 and 6.16 respectively. Gulf Cement (GCEM) was busier than usual with a 4.1% increase, First Gulf Bank (FGB) and Abu Dhabi Commercial Bank (ADCB) rose 5.3% and 3.5% respectively, Abu Dhabi National Energy (TAQA) was up 3.4% and the remaining gainers were up less than 3% or on thin trading. Etisalat (ETISALAT) rose 1.2% to 17.30. National Bank of Abu Dhabi (NBAD) fell 1.6% to 15.50, RAK Cement (RAKCC) 1.5% on greater than usual trading, but otherwise there were few stocks that stood out in the list of 14 losers.

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UAE markets 21 Sep 2008

UAE market news & discussions for 21 September 2008 UAE markets soared today after news on Friday that the US government announced measures to alleviate the financial crisis. The DFM was up a massive 10% to 4310 points and turnover jumped to AED 2.6 billion, with Emaar Properties at the top of the gainers list (15% limit up) and the turnover table. The ADX had a big 5.9% gain to 3949 with turnover just shy of AED 1 billion. Dubai Financial Market Emaar Properties (EMAAR) traded over AED 700m worth of stocks and closed at 8.05. Other stocks to rise more than 10% and trade more than AED 100m included AJMANBANK, Union Properties (UPP), DFM, Arabtec (ARTC), DIB, AIRARABIA, and Tamweel (TAMWEEL). Most other actively traded stocks were up by more than 10%. There were only 3 losers and 2 stocks trading unchanged, all from trading of only 1 or 2 small deals each. Abu Dhabi Securities Market In Abu Dhabi, Sorouh Real Estate (SOROUH), First Gulf Bank (FGB), and Aldar Properties (ALDAR) rose almost 10% on turnover of more than AED 100m. Abu Dhabi Commercial Bank (ADCB) was up over 9% on lower trading, RAK Properties (RAKPROP) and Aldar Properties (ALDAR) rose more than 8%. Etisalat (ETISALAT) was up 7.6% to 17.05, National Bank of Abu Dhabi (NBAD) 7.0% to 16.00, and most other actively traded stocks were up by 5-8%. ARKAN was the most heavily traded stock with AED 205 million of turnover but rose only 2.5%. There were only 6 losers, none trading significant quantities except for Sharjah Cement (SCIDC) which fell 4% on turnover of a still light AED 1.4 million. UAE latest market news

• Marketwatch DFM ADX September 2008
• Tabreed change in management with change in strategy
• Where is amlak heading?
• Net Foreign Sell of AED 724.5 Million
• Stocks head for rally after word of gov't plan
• World markets soar on possible US rescue package
• Should I sell?

More UAE stock market news and discussions...

best stock rises symbol price change EMAAR 8.05 +1.05 +15% DIB 6.26 +0.81 +14.9% DFM 3.56 +0.46 +14.8% SHUAA 4.65 +0.60 +14.8% ALSALAMSUDAN 3.97 +0.51 +14.7%

worst stock falls symbol price change FCI 5.12 -0.56 -9.9% QCEM 2.58 -0.27 -9.5% QTEL 150.00 -8.00 -5.1% OEIHC 3.80 -0.20 -5% OIC 10.00 -0.50 -4.8%

top volume symbol value (AED) price EMAAR 726,561,423 8.05 AJMANBANK 258,849,451 2.89 UPP 256,701,651 3.37 DFM 227,685,686 3.56 ARTC 213,306,092 13.30

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UAE markets 18 Sep 2008

UAE market news & discussions for 18 September 2008 Central Banks around the world said they would introduce measures to ease liquidity in the current financial crisis, but the UAE markets seemed to react more to the IMF director general's comments yesterday that there may be worse to come. The Dubai index sunk below 4000 points again with a 3.0% drop but turnover down slightly at AED 923m, while Abu Dhabi had a 2.6% fall with turnover also lower at AED 446m. Arkan Building Materials was the only gainer on any significant volume in either market. On the DIFX so far today, DP World is down 4.9% to $0.58, Depa has plummeted 10.9% to $0.90, and Damas is untraded. European stocks are up, as are US stock futures by mid-afternoon UAE time. Dubai Financial Market Emaar Properties (EMAAR) was the most heavily traded stock and fell 3.7% to 7.00 but it was Dubai Islamic Bank (DIB) that stood out with a big fall of 7.6% to 5.45 putting it almost at the top of the loser's list, and turnover was second highest with AED 134m worth of shares traded. Tamweel (TAMWEEL) also had a grim day with a 6.85% dall to 3.81, Amlak Finance (AMLAK) fell almost 5%, and AJMANBANK 4.15%. Arabtec (ARTC) was down by 2.8% and turnover just shy of AED 100m, DFM fell 4.0%, and Union Properties (UPP) 3.2% - both stocks fairly busy. All other stocks, except for GRAND which rose on a single small tade, fell less than 4% or on marginal trading activity. Abu Dhabi Securities Market Aldar Properties (ALDAR) was the only stock in Abu Dhabi trading more than AED 100m, and fell 3.5% to 7.15. Abu Dhabi Commercial Bank (ADCB) and First Gulf Bank (FGB) had horrible falls of 8.8% each to 2.89 and 14.45 respectively, Oasis Leasing (OILC) got hit by a 5.3% drop, METHAQ was down 4.7%, National Bank of Abu Dhabi (NBAD) 3.9%, and the rest of the more active stocks fell less than 4%. Sorouh Real Estate (SOROUH) and Etisalat (ETISALAT) didn't suffer so badly with drops of 1.8% and 1.25% respectively. Of the 4 gainers on the ADX, 3 were on negligible trading activity, while ARKAN rose just 0.66% to 6.00. Latest UAE market news

• Marketwatch DFM ADX September 2008
• National Bank of Dubai Securities
• TAMWEEL price forecast update
• Tabreed change in management with change in strategy
• Shuaa shares cheap?
• DFM- Road to Recovery

More UAE stock market news and discussions...

best stock rises symbol price change ADSB 4.55 +0.32 +7.6% SCIDC 4.80 +0.19 +4.1% GRAND 2.35 +0.05 +2.2% ARKAN 6.07 +0.04 +0.7% BOS 2.95 +0.01 +0.3%

worst stock falls symbol price change ALSALAMSUDAN 3.46 -0.43 -11.1% AKIC 1.85 -0.20 -9.8% ADCB 2.90 -0.28 -8.8% FGB 14.55 -1.40 -8.8% NBQ 5.95 -0.55 -8.5%

top volume symbol value (AED) price EMAAR 243,273,350 7.00 ALDAR 158,131,489 7.09 DIB 133,854,319 5.45 ARTC 97,387,714 11.80 DFM 90,518,752 3.10

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UAE markets 17 Sep 2008

UAE market news & discussions for 17 September 2008 Those who picked a bottom yesterday will be smiling today as the screens were covered in green arrows. The Dubai market was up 2.3% to close above 4000 points, with turnover well over AED 1 billion, and Abu Dhabi rose 1.6% but turnover only half the level seen in Dubai. How long the smiles will last is anyone's guess. On the DIFX so far today, DP World has jumped by 8.8% to $0.62 but Depa and Dewa are untraded. The bailout of AIG in the US will have settled some investors, and the UAE Central Bank directive to UAE banks to provide details of any exposure to Lehman Brothers should be seen as a good thing. Dubai Financial Market Emaar Properties (EMAAR) saw close to half a billion worth of deals but only rose 2.0% to 7.27. Arabtec (ARTC) was heavily traded with an 8.0% jump to 12.15 putting it at the top of the gainers list (ignoring the thinly traded stocks). DFM and AJMANBANK also saw more than AED 100m of trading, and gained 5.2% and 6.85% respectively. Most other actively traded stocks had 2%-5% gains, with only DIB, DARTAKAFUL, and Emirates NBD (ENBD) rising by less than Emaar. There were only 2 losers in Dubai today, GGICO and TAKAFUL-EM falling less than 1% each. Abu Dhabi Securities Market The heavily traded Aldar Properties (ALDAR) rose 3.7% to 7.40 on AED 256m of turnover, and METHAQ was the only other stock trading more than AED 100m worth, gaining just 1.6% to 8.21. Julphar (JULPHAR) had another big jump of 9.45% to 2.20, ASMAK was also at the top of the list with a 9.3% rise to 31.00, and third highest gainer was TKFL with an 8.5% rise to 7.60. All three stocks with greater than usual trading activity, especially Abu Dhabi Takaful. NBS had a good day with a 6.3% rise, and RAK Properties (RAKPROP) bumped up 3.7%. National Bank of Abu Dhabi (NBAD) was up 3.7%, Oasis Leasing (OILC) 3.5%, Dana Gas (DANA) 3.1% and the rest of the usually active stocks rose less than 3%. Etisalat (ETISALAT) was up 2.2% to 16.25. First Gulf Bank (FGB) closed flat, and only 6 stocks saw red today, including Abu Dhabi Commercial Bank (ADCB) which fell 1.2% to 3.05.

• Marketwatch DFM ADX September 2008
• National Bank of Dubai Securities
• Financial Crisis
• DFM- Road to Recovery
• What to buy?
• Which share did you buy / holding?
• SKF Shares
• DP World 55 cent

More UAE stock market news and discussions...

best stock rises symbol price change SALAM_BAH 2.08 +0.22 +11.8% JULPHAR 2.20 +0.19 +9.5% ASMAK 32.80 +2.80 +9.3% TKFL 7.50 +0.59 +8.5% DRIVE 6.49 +0.50 +8.3%

worst stock falls symbol price change NCTH 11.05 -0.95 -7.9% RAKCEC 3.27 -0.13 -3.8% ADNH 5.23 -0.12 -2.2% ADCB 3.18 -0.04 -1.2% ADAVIATION 3.51 -0.04 -1.1%

top volume symbol value (AED) price EMAAR 476,129,023 7.27 ALDAR 255,837,800 7.35 ARTC 192,024,604 12.15 METHAQ 143,165,995 8.32 DFM 120,970,396 3.23

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UAE markets 16 Sep 2008

UAE market news & discussions for 16 September 2008 A bit of green seen in Abu Dhabi today with a 0.42% increase to 3770 points and turnover up to AED 1.17 billion, but in Dubai the markets continued to tumble with a 2.2% fall to 3954 points and turnover of AED 1.1 billion. On the DIFX, DP World has bounced back by 5.7% to $0.56 so far today, and Depa is off by 1.9% at $1.01. Dubai Financial Market Emaar Properties (EMAAR) was top of the turnover list with AED 378m worth and a small loss of 1.1% to 7.13, although it hit an intra-day low of 6.65. Three other stocks saw more than AED 100m worth of turnover, Arabtec (ARTC) down 4.3%, DFM down 5.5%, and TAKAFUL_EM up 2.0%. The only other gainers of note were Union Properties (UPP) up 3.9% on solid trading and Du Telecom (DU) up 2.2% on thin trading. Shuaa Capital (SHUAA) had another nasty day with a 10.9% loss to finish at 4.00. Tamweel (TAMWEEL) and Emirates NBD (ENBD) fell 5.0%, Dubai Investments (DIC) 4.2% and the rest of the more active stocks had falls of 1%-4%. Abu Dhabi Securities Exchange In Abu Dhabi, Aldar Properties (ALDAR) saw greater turnover than Emaar but had a small gain of 1.1% to close at 7.12. METHAQ was also heavily traded with over AED 300m of turnover and rose 3.4% to 8.37. Sorouh Real Estate (SOROUH) was the only other stock trading more than AED 100m and rose 3.5% to 5.60. Etisalat (ETISALAT) was the most notable gainer with a 3.6% increase to 15.45. The remaining stocks in the green rose less than 3% or on minimal trading volumes. Julphar (JULPHAR) stood out in the loser's list with a hefty drop of 8.2% to 2.15 on greater than usual activity, First Gulf Bank (FGB) also stood out with a 5.6% fall to 15.35 on busy turnover, Abu Dhabi Commercial Bank (ADCB) was down 4.7% but on much lighter trading, and the remainder fell less than 3% or on thin trading. Latest UAE stock news

• Marketwatch DFM ADX September 2008
• DP World 55 cent
• National Bank of Dubai Securities
• Emaar announces share buyback
• TAMWEEL price forecast update
• Al Dar crumbling
• SKF Shares

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best stock rises symbol price change GRAND 2.30 +0.30 +15% EKTTITAB 2.41 +0.31 +14.8% DRIVE 5.99 +0.54 +9.9% TKFL 6.91 +0.62 +9.9% ADSB 4.23 +0.36 +9.3%

worst stock falls symbol price change ARIG 2.94 -0.51 -14.8% SHUAA 4.00 -0.49 -10.9% NCTH 12.00 -1.30 -9.8% AKIC 1.96 -0.21 -9.7% SICO 5.30 -0.55 -9.4%

top volume symbol value (AED) price ALDAR 439,675,936 7.09 EMAAR 378,489,369 7.13 METHAQ 315,876,336 8.19 SOROUH 187,196,710 5.56 ARTC 151,380,210 11.25

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UAE markets 15 Sep 2008

UAE market news & discussions for 15 September 2008 The UAE wasn't spared from worldwide stock turmoil on the news of the Lehman bankruptcy, and takeover of Merril Lynch. After a frightening start to the day with several actively traded stocks crashing by more than 10%, the DFMGI recovered somewhat but still ended the day down by 1.7% at 4.44 with turnover a solid 1.5 billion dirhams, while the ADX plummeted by 4.35% to 3754 points with turnover up to almost a billion dirhams. At the time of writing this, the DIFX isn't looking much good either with DP World down 11% to just $0.55, and Depa down 5.5% to $1.03. For those looking for good news amongst all the blood letting, several stocks did rally from midway through the session, but don't get too excited just yet. European and Asian stocks are taking a battering again today. Dubai Financial Market Rocky stock of the day award goes to Arabtec (ARTC) with a low of 9.40 for the day, over 10% down on yesterday's close, but a smart recovery to end the day 6.3% in the green at 11.75 putting it at the top of the gainers list, and second highest turnover in Dubai with AED 227m worth of deals. Emaar Properties (EMAAR) as usual, saw the greatest turnover with close to half a billion dirhams worth and a 1.8% fall to 7.21 after bouncing off a low of 6.27. Union Properties (UPP) (down 1.1%), AMAN (up 1.3%), and DFM (up 1.9%) also saw turnover of more than AED 100m. Aramex (ARMX), Dubai Investments (DIC), TAKAFUL-EM, and AIRARABIA all ended up with gains of about 2.5% to 3.0%, and GULFNAV with a 0.76% rise was the only other gainer in Dubai. A grim day for Shuaa Capital (SHUAA) though which fell 10.2% to 4.49, while Emirates NBD (ENBD), DIB, and Tabreed (TABREED) all had 4%-5% hits. The remaining actively traded stocks fell about 2% or less. Abu Dhabi Securities Exchange On the ADX, Aldar Properties (ALDAR) and Sorouh Real Estate (SOROUH) were the only 2 stocks trading more than AED 100m and both fell about 6.8%, to 7.47 and 5.61 each. First Gulf Bank (FGB) was close to AED 100m of turnover and had a less unnerving fall of 2.8% to 17.00. Other big falls of more than 9% for Union National Bank (UNB) and Abu Dhabi Commercial Bank (ADCB), 5.9% for National Bank of Abu Dhabi (NBAD), and 4.4% for Etisalat (ETISALAT). Most of the actively traded stocks were down between 4% and 8%. There were no gainers of note in Abu Dhabi - the top 4, rising more than 9% each, saw less than 10 trades between them and total turnover less than AED 100k. ARKAN (again!?) was the only gainer with more than AED 1m worth of trading, with just a 0.66% rise. Latest UAE business news

• Marketwatch DFM ADX September 2008
• DP World 55 cent
• Emaar announces share buyback
• TAMWEEL price forecast update
• GULFNAV negative closes
• Al Dar crumbling
• DIB share price forecast
• UPP is correcting
• ARTC bear confirmed
• UAE stock buy backs
• Tabreed forecast?
• National Bank of Dubai Securities
• Where is the end of bear market?
• Reasons for stock market declines (long post)

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best stock rises symbol price change FBICO 4.01 +0.36 +9.9% INVESTB 3.46 +0.31 +9.8% RAPCO 3.97 +0.34 +9.4% AKIC 2.17 +0.18 +9% ADAVIATION 3.45 +0.21 +6.5%

worst stock falls symbol price change GRAND 2.00 -0.35 -14.9% SHUAA 4.49 -0.51 -10.2% ADSB 3.87 -0.43 -10% NMDC 7.38 -0.81 -9.9% JULPHAR 2.19 -0.23 -9.5%

top volume symbol value (AED) price EMAAR 475,643,490 7.21 ALDAR 473,446,628 7.01 ARTC 227,490,983 11.75 SOROUH 186,493,759 5.37 DFM 121,975,393 3.25

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UAE markets 14 Sep 2008

UAE market news & discussions for 14 September 2008 Dubai Financial Market Promising news yesterday from Emaar Properties (EMAAR) that they would buy back their own shares pushed up their share price in early trading. But it wasn't to last and their shares ended up falling 3% to 7.34 with total turnover of AED 441m for the day. On the bright side, if their share price does stay low, they might actually buy some shares but today's market reaction indicates investors haven't put much faith in the latest Emaar announcement. Overall, it was a glum day with the DFMGI falling 3.4% to 4115 points and traded value well over the billion dirham level with a total of AED 1.4 bn changing hands. TAKAFUL-EM was heavily traded and fell 3.5% to 3.90, Union Properties (UPP) also saw more than AED 100m worth of turnover and plummeted 8.4% to 2.83. The worst performers however were Arabtec (ARTC) down by 11.2% to 11.05 and Tamweel (TAMWEEL) down by 10.0% to 4.21. Many other active stocks saw grim falls including Dubai Islamic Bank (DIB) and DFM which both collapsed by more than 5%. Only 3 stocks rose on the Dubai market, none of them trading any significant quantities. Abu Dhabi Securities Market In Abu Dhabi, the ADX index was down 2.7% to close below 4000 points, at 3925, with turnover a less hectic AED 502m worth. Aldar Properties (ALDAR) was the only stock to trade more than AED 100m and fell 3.5% to 7.12. Four stocks saw 10% limit down trading, but from just one small trade each. The worst losers of significance were Union National Bank (UNB), down by 6.3% to 6.40, and Etisalat (ETISALAT), down by 4.2% to 15.30. First Gulf Bank (FGB) which had some big drops last week, continued in a similar fashion with a 3.6% fall to 16.60, Abu Dhabi Commercial Bank (ADCB) also fell 3.6%, to 3.49, while the largest bank, National Bank of Abu Dhabi (NBAD), got off relatively lightly with a 1.5% drop to 16.15. Most other stocks had falls of 1%-4%. There were 7 gainers, with only AGTHIA and ARKAN trading volume more than AED 1m, but both with gains of less than 1%. Astonishingly, Arkan's market cap is twice as much as Amlak or Arabtec, and equivalent to Abu Dhabi Islamic Bank or Union National Bank. Comment on this report and view previous reports on the Share Wadi blog. Discuss UAE companies at Dubai Share Talk.

• Marketwatch DFM ADX September 2008
• National Bank of Dubai Securities
• Emaar announces share buyback
• Al Dar crumbling
• Shuaa shares cheap?
• Reasons for stock market declines (long post)
• ARTC bear confirmed
• Where is the end of bear market?

More UAE stock market news and discussions...

best stock rises symbol price change ARIG 3.45 +0.45 +15% UNION 4.30 +0.39 +10% JULPHAR 2.42 +0.17 +7.6% EKTTITAB 2.16 +0.11 +5.4% BILDCO 3.83 +0.12 +3.2%

worst stock falls symbol price change ARTC 11.05 -1.40 -11.2% TAMWEEL 4.21 -0.47 -10% NMDC 8.19 -0.91 -10% ADNIC 8.78 -0.97 -9.9% DRIVE 5.45 -0.60 -9.9%

top volume symbol value (AED) price EMAAR 441,062,420 7.34 TAKAFUL-EM 248,518,946 3.90 ALDAR 173,231,077 7.52 UPP 103,679,000 2.83 DIB 95,059,483 6.05