UAE markets 13 Nov 2008

UAE market news & discussions for 13 November 2008 UAE stocks continued the plummet into the abyss with the DFMGI down 4.9% to 2106 points and the ADX down 1.5% to 2765 points. Turnover was only AED 418m in Dubai and AED 257m in Abu Dhabi. About the best news we can come up with is that some stocks didn't close limit down, including Emaar. The Kuwait Stock Exchange suspended trading until next week when the decision would be reviewed, turning what investors thought were liquid assets into frozen assets. Will that bust their pipes or give the plunging market a reprieve? Stocks around the world also fell and US futures are indicating a fall today. The good news is that there were some stocks that didn't close limit down, including Emaar. Dubai property related news is becoming more and more negative. Gulf News front page this morning had a report of Emirates NBD halting credit to employees of large real estate related companies including Emaar, Damac, Tamweel, Amlak, Sama Dubai, Nakheel, Dubai Properties, and Union Properties. Emaar said they were "optimising human resources" in a response to a question from Reuters about possible job cuts today, but Union Properties said they had no plans to downsize. A large number of companies released third quarter results as today was the ESCA deadline for Q3 financial statements. See the Sharewadi calendar for a list of all of them. Updates and reviews will be added to the forum. 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 the only stock trading more than AED 100m and fell 5.6% to 3.18. Nine stocks were 10% limit down, including Arabtec (ARTC), Amlak Finance Company (AMLAK), Tamweel Finance (TAMWEEL), Emirates Integrated Telecommunications (DU), and Shuaa Capital (SHUAA), while Emirates NBD (ENBD) was 5% limit down. Most remining stocks fell 4% to 9%. Only one stock rose, slightly, Al Salam Bank Sudan (ALSALAMSUDAN), and three stocks were flat, including Air Arabia (AIRARABIA) and Deyaar Development (DEYAAR). Abu Dhabi Securities Market No stocks in Abu Dhabi saw more than AED 100m of turnover, and only Aldar Properties (ALDAR) and Sorouh Real Estate (SOROUH) traded more than AED 20m worth, with Aldar a surprise gainer up by 2.6% to 4.30, but Sorouh down 0.75% to 2.71. Emirates Telecom (ETISALAT) was up 1.2% to 14.00, Aabar Energy (AABAR) was up 5.3%, Abu Dhabi Islamic Bank (ADIB) up 3.5% and almost everything else fell. The biggest falls on trading of more than AED 1m were for Ras Al Khaimah Properties (RAKPROP) and Ras Al Khaimah Cement (RAKCC), both down by more than 8%. Other active losers mostly fell between 3% and 7%.

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

	Latest posts and topics (click timestamp for last post)	Last Post By	Last Post Date
GPI Q3 results (not reviewed) sharewadi Thu 13 Nov 2008 16:30 Dubai Crisis similarities with Asian Crisis glued Thu 13 Nov 2008 16:26 Arabtech Insider Trading 3 Million Shares sharewadi Thu 13 Nov 2008 15:19 DRC 08Q3 profit Dh6.7m -46% sharewadi Thu 13 Nov 2008 15:13 AMAN 08Q3 loss Dh-19m -1,843% sharewadi Thu 13 Nov 2008 14:45 AEIBANK 08Q3 loss Dh-4m -392% sharewadi Thu 13 Nov 2008 13:57 Shares going below Par value. Who's next? stockguru2008 Thu 13 Nov 2008 13:51 Kuwait suspends share trading stockguru2008 Thu 13 Nov 2008 13:48 EMAAR heading for 2 DH a share sharewadi Thu 13 Nov 2008 12:57 Deceptive trading sharewadi Thu 13 Nov 2008 12:29 Cheap Shares! sharewadi Thu 13 Nov 2008 11:57 To buy or not to buy ... sharewadi Thu 13 Nov 2008 11:56 In 10-15 days khurrammts Thu 13 Nov 2008 11:52 UAE property companies lacking transparency glued Thu 13 Nov 2008 11:14 EMAAR Technicals small fry Thu 13 Nov 2008 10:53 Don't take AUH wealth for granted small fry Thu 13 Nov 2008 09:26 SOROUH price (today October 20) alok_bxd Thu 13 Nov 2008 02:02

best stock rises symbol price change BILDCO 2.98 +0.25 +9.2% RAKCEC 1.82 +0.13 +7.7% AABAR 2.18 +0.11 +5.3% RAKWCT 1.07 +0.04 +3.9% ADIB 3.56 +0.12 +3.5%

worst stock falls symbol price change ARTC 3.34 -0.37 -10% FH 8.15 -0.90 -9.9% GGICO 6.35 -0.70 -9.9% AJMANBANK 1.27 -0.14 -9.9% DARTAKAFUL 2.00 -0.22 -9.9%

top volume symbol value (AED) price EMAAR 184,268,969 3.18 ALDAR 95,829,670 4.30 SOROUH 78,433,837 2.66 ARTC 36,511,097 3.34 AIRARABIA 32,705,660 1.01

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