UAE markets 29 Oct 2008

UAE market news & discussions for 29 October 2008 Despite promising gains around the world yesterday, and again today, the Dubai stock market fell today, although the Abu Dhabi index was up. Just over AED 1 billion of turnover for the DFM with the index ending 0.5% down at 2917, and the ADX had half a billion of turnover and a 2.2% gain to 3350. The Dubai Mall, an Emaar development, had its opening date delayed for a second time. There's a good chance it should actually open after the third delay announcement, we're guessing sometime next week. Results released today for Agthia, Gulf Navigation (press release only), Al Ain Insurance, Al Dhafra Insurance, Fujairah Building Co, Fujairah Cement, Julphar, Oman & Emirates Investment (again), Union Cement. Financial statements and/or BOD reports released for (preliminary results already released) ADCB, Commerical Bank International, RAK Poultry, RAK Insurance. Taqa results are due tomorrow morning. Other results could be seen for Du Telecom, Dubai Investments, Dubai Islamic Insurance (AMAN), Julphar, Sharjah Cement. UAE financial news - latest news from Reuters, Bloomberg and UAE media UAE Q3 results list - latest reports highlighted Sharewadi calendar - important dates Dubai Financial Market Emaar Properties (EMAAR) was by far the most heavily traded share with almost half the total turnover as it fell 1.5% to 5.20. Arabtec (ARTC), down 3.1%, and Air Arabia (AIRARABIA), unchanged, also traded more than AED 100 million. Ajman Islamic Bank (AJMANBANK) was the most significant gainer, up 3.2% to 1.96. Emirates NBD (ENBD) was up 3.1%, and National General Cooling (TABREED) and Union Properties (UPP) rose less than 1%. Four stocks fell more than 3%, including Arabtec, Emirates Integrated Telecommunications (DU) and Emarat Takaful Insurance (TAKAFUL-EM). The remaining actively traded stocks fell between 1% and 3%, except for Dubai Islamic Insurance (AMAN), Dubai Investment Company (DIC), and Dubai Islamic Bank (DIB) which fell less than 1%. Gulf Navigation (GULFNAV) was unchanged at 1.10 on news of 3Q results. Abu Dhabi Securities Market Aldar Properties (ALDAR) was the only stock trading more than AED 100 million, and rose 3.4% to 5.10. Sorouh Real Estate (SOROUH), First Gulf Bank (FGB), Emirates Telecom (ETISALAT), and Dana Gas (DANA) all rose 3% to 4% on decent levels of turnover. National Bank of Abu Dhabi (NBAD) was the biggest gainer though with a solid 8.2% rise to 11.50. Arkan Building Materials (ARKAN) was also up there with an 8% jump, and Abu Dhabi National Energy (TAQA) rose 4.2% ahead of its results announcement tomorrow morning. Most losers were less actively traded stocks with turnover below AED 1 million for the day. Exceptions were Union National Bank (UNB) down 4.3%, Methaq Islamic Insurance (METHAQ) down 1.9%, Waha Capital (OILC) and Abu Dhabi National Hotels (ADNH) down less than 1%.

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

• Dubai Mall opening date
• Abu Dhabi 60 IPOs coming
• DFM and Citibank sign custody agreement
• Agthia 2008 Q3 results press release
• Marketwatch DFM ADX October 2008
• Shuaa new CFO
• SOROUH price (today October 20)
• UAE Central Bank pumps money into banks
• SKF Shares
• Returned Dividend Checks
• Gulf Navigation 2008 Q3 results
• VOLKSWAGON shares rose 350% in two days
• ARMX 08Q3 profit Dh34m +31%
• CBI 08Q3 profit Dh39m +4%
• BOS 08Q3 profit Dh150m +55%
• NMDC 08Q3 profit Dh53m +125%
• Can i change brokers?

best stock rises symbol price change NBAD 11.80 +0.90 +8.3% ARKAN 5.55 +0.41 +8% QTEL 129.90 +9.20 +7.6% NCC 7.20 +0.34 +5% SALAM_BAH 1.37 +0.06 +4.6%

worst stock falls symbol price change FH 9.05 -1.00 -10% ASMAK 27.05 -2.65 -8.9% ADAVIATION 2.35 -0.20 -7.8% EIC 7.50 -0.53 -6.6% NBQ 5.82 -0.37 -6%

top volume symbol value (AED) price EMAAR 519,020,247 5.20 ALDAR 204,579,923 5.12 ARTC 129,671,555 5.60 AIRARABIA 106,847,378 1.19 DFM 97,670,086 2.25

• Comment on this report and view previous reports on the Share Wadi blog.
• Discuss UAE companies at Dubai Share Talk.