UAE markets 27 Oct 2008

UAE market news & discussions for 27 October 2008 Yet again the markets continue to tumble, with Abu Dhabi down 2% on low turnover of AED 362m - a slight gain for Emirates Telecom (ETISALAT) keeping it from falling further, while Dubai sank by 5.8% with a little under AED 1 billion of turnover. An unlucky 13 stocks were trading at 10% limit down prices with no, or very few, buyers in the queue. The near collapse of Gulf Bank in Kuwait probably didn't help investor's mood today, nor did the paltry attempt to buy back shares by Emaar Properties (EMAAR). Aabar demonstrated clearly the futility of trying to work for a living. They made more money for shareholders in the third quarter of 2008, after having sold all their income producing assets, than they did in the same quarter the previous year when they still had those assets. Emaar hesitantly made its first foray into the UAE stock markets, buying back a barely noticeable 200,000 shares today, making the small buybacks last year from Shuaa Capital (SHUAA) and Islamic Arab Insurance (IAIC) look positively market-shattering in comparison. As it happens, Shuaa themselves announced a 10% share buyback program (again). The Dubai Financial Market (DFM) Department of Irony suspended trading in Shuaa shares for a brief period while the Shuaa BOD disclosed this information during trading hours. NIH started trading on the Dubai Financial Market (DFM) today - just barely. Only 3 trades went through at prices between 4.00 and 4.10, a fairly active day for a secondary listing from Kuwait. In a busy day for the UAE Central Bank governor, he said UAE banks should consider mergers, the UAE property market could face a correction, the liquidity crunch in the UAE is stabilising, and the Central Bank is ready to do more if necessary. The UAE bank sector wasn't listening, and fell almost 3% today. DIFX will ring the Nasdaq opening bell on 20 November 2008 0... from Dubai. Ding ding. UAE financial news - latest news from Reuters, Bloomberg and UAE media UAE Q3 results list - latest reports highlighted Sharewadi calendar - important dates UAE company results for 2008 Q3 yesterday afternoon and this morning (results may be seen later today or tomorrow morning for Agthia, Arkan Building Materials, Aramex, Bank of Sharjah, Dubai Islamic Bank, Fujeirah Cement, Gulf Navigation, Union Cement, based on release dates of previous results or BOD meeting information). Aabar 08 Q3 profit Dh20m +5% Abu Dhabi Aviation 08Q3 profit Dh11m +599% Aldar 08 Q3 profit Dh760m +50% Arab Orient Insurance 08Q3 profit Dh39m +45% Emirates Insurance 08Q3 profit Dh12m -48% Gulf Finance House 08Q3 profit Dh300m -4% Mashreq 08 Q3 profit Dh346m -12% NBQ 08Q3 profit Dh70m +17% Oman Insurance 08Q3 loss Dh-24m -147% Oman & Emirates Investment 08Q3 loss Dh-110m -307% RAK Bank 08Q3 profit Dh170m +54% RAK Properties 08Q3 profit Dh103m +287% RAK Poultry 08Q3 profit Dh4.8m +607% Salam Investments 08Q3 profit AED 32m +71% Tamweel 08 Q3 profit Dh190m +37% United Insurance 08Q3 loss Dh-3.1m -166% Union Properties 08Q3 profit Dh240m +38% Dubai Financial Market Top traded share on turnover was Emaar Properties (EMAAR) with 82.7m shares worth AED 453m, and only 0.25% of them were bought by Emaar themselves. Emaar fell 9.25% to 5.10. No other stocks saw more than AED 100m worth of trading. Six stocks were 10% limit down including Arabtec (ARTC), Arab International Logistics (ARMX), and Tamweel Finance (TAMWEEL). Dubai Islamic Bank (DIB), Dubai Investment Company (DIC), and Air Arabia (AIRARABIA) all fell 8% or more. The only gainer was the rarely traded Kuwait Finance and Investment (KFIC), up 4.65% from 2 trades. Abu Dhabi Securities Market Aldar Properties (ALDAR), falling 5.6% to 4.71, was the most heavily traded stock and the only one with more than AED 50m of turnover. Emirates Telecom (ETISALAT) gained 0.33% to 15.35, propping up the ADX index. International Fish Farming (ASMAK) was the only other gainer of significance, up by 6.3% on heavier than usual trading. Seven stocks saw l10% limit down trading today, including First Gulf Bank (FGB) with closing price of 12.15. Sorouh Real Estate (SOROUH) was down 6.7% and most other actively traded stocks fell less than 5%.

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

• Emaar share buyback
• Is it possible for DPW to drop to zero
• Marketwatch DFM ADX October 2008
• Nasdaq ME investor conference and DIFX opening bell
• NIH secondary listing DFM
• Shuaa share buyback
• OEIHC 08Q3 loss Dh-110m -307%
• UIC 08Q3 loss Dh-3.1m -166%
• EIC 08Q3 profit Dh12m -48%
• TAMWEEL 08Q3 profit Dh190m +37%
• ADAVIATION 08Q3 profit Dh11m +599%
• RAPCO 08Q3 profit Dh4.8m +607%
• AABAR 08Q3 profit Dh20m +5%
• ALDAR 08Q3 profit Dh760m +50%
• UPP 08Q3 profit Dh240m +38%
• GFH 08Q3 profit Dh300m -4%
• AOIC 08Q3 profit Dh39m +45%
• OIC 08Q3 loss Dh-24m -147%
• UAB 08Q3 profit Dh61m +9%
• NBQ 08Q3 profit Dh70m +17%
• RAKBANK 08Q3 profit Dh170m +54%
• 2008 Q3 financial results UAE

best stock rises symbol price change SICO 5.85 +0.40 +7.3% ASMAK 32.95 +1.95 +6.3% FH 10.05 +0.13 +1.3% ETISALAT 15.35 +0.05 +0.3%

worst stock falls symbol price change ARTC 5.96 -0.66 -10% TAKAFUL-EM 2.10 -0.23 -9.9% ARMX 1.37 -0.15 -9.9% CBI 2.39 -0.26 -9.8% SALAM_BAH 1.30 -0.14 -9.7%

top volume symbol value (AED) price EMAAR 453,249,818 5.10 ALDAR 184,045,845 4.91 ARTC 91,088,868 5.96 AIRARABIA 56,639,049 1.15 DIB 51,284,302 4.15

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