UAE markets 08 Oct 2008

UAE market news & discussions for 08 October 2008 What words are left to describe the freefall in the UAE markets? It feels like a ride down the new Atlantis waterpark slide. Following huge falls in US and Asian stockmarkets, Dubai was down more than 10% before pulling up slightly to close 8.4% down at 3085 points with turnover at AED 1.2 billion, probably limited by the lack of buyers at limit down prices for many stocks. Abu Dhabi ended 6.4% down at 3177 points from lower turnover of AED 379 million, also limited by a lack of buyers at limit down prices. On the DIFX, DP World is down over 9% to $0.49, Damas down 7.4% to $0.88, and Depa untraded despite a report they would apply to buy back their shares, and change the denomination from USD to AED. Deyaar and Union Properties denied reports of merger negotiations. Union Properties were reported to be considering a share buyback. Emaar changed their story of when they would buy back shares. The Kuwait Central Bank implemented a large interest rate cut, the Saudi Central Bank said there was no liquidity shortage, and the UK Central Bank said they would extend $87 billion of support to keep banks afloat. UAE financial news - latest news from Reuters, Bloomberg and UAE media Dubai Financial Market By the end of the session, 7 companies had shares on offer at 15% limit down prices with no one buying, including Arabtec (ARTC), DARTAKAFUL, GGICO, AJMANBANK, Islamic Arab Insurance (IAIC), and Dubai Investments (DIC). Another 12 companies fell between 10% and 15% including Aramex (ARMX), Amlak Finance (AMLAK), Tabreed (TABREED), Tamweel (TAMWEEL), DFM, DIB, Union Properties (UPP), and DEYAAR. Emaar Properties (EMAAR) fell 7.4% to 5.50 and was the most heavily traded company by value. Emirates NBD (ENBD) fell 5% to 7.47 (it has a daily movement limit of only 5%). Three stocks increased, including Shuaa Capital (SHUAA) which rose 6.8% to 3.14. Abu Dhabi Securities Market A horrendous total of 23 companies had 10% limit down trading and no buyers to be seen by the end of the day, including all the actively traded companies. Only 4 stocks had average falls of less than 8%, including Etisalat (ETISALAT) with a 7.2% drop. There were 4 gainers, all from single small trades. Aldar Properties (ALDAR) was the most heavily traded and the only company with more than AED 100m of turnover, ending the day at 5.48.

UAE stock market news and discussions at Dubai Share Talk ...

• Emaar share buyback
• Stock trading courses in Dubai?
• UAE companies bankrupt?
• Marketwatch DFM ADX October 2008
• ARTC bear confirmed
• UPP Deyaar merger
• Al Dar crumbling
• UPP share buyback
• Introduce yourself here and read about other DST forumers...
• Buy Deyaar, Du or Air Arabia?
• Do you have a Trading Strategy?
• EMAAR will keep dropping?
• New member share portfolio sell or keep?
• Shares below par value?

best stock rises symbol price change EKTTITAB 1.70 +0.20 +13.3% OEIHC 3.09 +0.28 +10% NBF 7.50 +0.65 +9.5% ADNH 4.87 +0.38 +8.5% GMPC 3.99 +0.27 +7.3%

worst stock falls symbol price change ARTC 6.80 -1.20 -15% DARTAKAFUL 2.55 -0.45 -15% GGICO 7.21 -1.27 -15% TAKAFUL-EM 2.50 -0.44 -15% GFH 7.57 -1.33 -14.9%

top volume symbol value (AED) price EMAAR 477,558,566 5.50 ALDAR 146,407,995 5.49 DFM 111,944,785 2.31 AIRARABIA 99,796,977 1.08 UPP 97,242,924 2.05

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