UAE markets 17 Dec 2008

UAE market news & discussions for 17 December 2008 The ADX was almost flat with a 0.05% gain to 2712 points, and turnover of AED 127m from 49m shares. The DFMGI was marginally better with a 0.19% rise to 1929, and turnover of AED 263m from 109m shares. On the Nasdaq Dubai, DP World is down 2.9%, Depa is up 6.4%, and Kingdom Hotel Investments is down 10%. US interest rates were slashed to a range of 0% to 0.25%, the UAE Central Bank said they would not be following the US cuts, but Kuwait was reported to have cut their interest rates by 0.5%. The UAE dollar peg discussion rises again with a report from the DIFC saying that the peg should be ditched after the GCC currency union. Al Jazeera Steel starts trading on the DFM tomorrow (primary listing is on the Muscat Securities Market). Shuaa received authorisation to act as a broker for the Tadawul stock market in Saudi according to the Tadawul website on Monday (and a report in Al Khaleej at the beginning of December). OPEC is expected to announce a cut in oil production, of possibly 2m bpd. Asian stocks rose, European stocks fell, and US futures are down, a rather dismaying reaction to the cut in US interest rates. 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 Arabtec (ARTC) turnover was again the highest, at AED 130m more than double that of the next highest, Emaar Properties (EMAAR). Arabtec shares gained a solid 5.8% to 5.28 putting at the top of the gainers list, and Emaar shares edged up by just 1% to 2.93. Dubai Islamic Insurance (AMAN) rose 5.7%, Dubai Financial Market (DFM) shares 3.3%, and another 7 stocks were up by less than 2%, including Dubai Islamic Bank (DIB) and Emirates Integrated Telecommunications (DU) with gains of less than 1%. Shuaa Capital (SHUAA) was the worst of the losers with a 7.8% fall to 1.30, Arab International Logistics (ARMX) was down 2.6%, Emirates NBD (ENBD) 2.8%, and Union Properties (UPP) 1.9%. Three other stocks fell, on turnover of less than AED 1m. Abu Dhabi Securities Exchange Aldar Properties (ALDAR) and First Gulf Bank (FGB) were back at the top of the traded value list, Aldar falling 2.4% to 4.87, and First Gulf Bank rising 5.9% to 10.10, putting it at the top of the more active gainers list. The five stocks ahead of it rose by more than 8% each but on turnover of less than AED 1m. Agthia Group (AGTHIA) was up 2%, National Bank of Abu Dhabi (NBAD) 1.5%, Arkan Building Materials (ARKAN) 1.3%, and the remainder by less than 1% or on thin trading. Emirates Telecom (ETISALAT) was unchanged at 12.25. Sharjah Islamic Bank (NBS) was the worst of the losers on turnover of more than AED 1m, falling 8.05% to 1.39. Methaq Islamic Insurance (METHAQ) reversed most of yesterday's gains, down by 5.3% but on turnover of less than 2% of what was traded yesterday. Bank of Sharjah (BOS) was down 4.1% on just over AED 1m of trading, Abu Dhabi Commercial Bank (ADCB) fell 2.5%, Sorouh Real Estate (SOROUH) 2.1%, and the remainder by less than 2% or on thin trading.

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
Marketwatch DFM ADX December 2008 adeelakhtar Wed 17 Dec 2008 16:55 SHUAA Saudi brokerage sharewadi Wed 17 Dec 2008 16:26 Dubai credit rating sharewadi Wed 17 Dec 2008 16:05 UAE job cuts Mpower Wed 17 Dec 2008 13:07 Al Jazeera Steel Dubai listing sharewadi Wed 17 Dec 2008 12:41 Fed cuts rates to almost 0% sam111sam Wed 17 Dec 2008 09:02 UNB 2008 profit forecast sam111sam Wed 17 Dec 2008 08:35 Dubai real estate boom over BullnBear Wed 17 Dec 2008 06:51 Global GIH default risk Fitch downgrade Mpower Wed 17 Dec 2008 05:39 NBAD Evans Randall finance JV Bimcnorth Wed 17 Dec 2008 01:43 ING report UAE banks sam111sam Tue 16 Dec 2008 17:26 Macquarie Abu Dhabi fund sharewadi Tue 16 Dec 2008 15:09 Al Jazeera Steel capacity to double sharewadi Tue 16 Dec 2008 15:00 Shuaa job cuts and financial position DXB_knight Tue 16 Dec 2008 11:20 QTEL ratings Moody's Fitch S&P sharewadi Tue 16 Dec 2008 10:16 Aramex share buyback sharewadi Tue 16 Dec 2008 10:01 Moody's downgrades four UAE banks AUHanalyst Tue 16 Dec 2008 09:04

best stock rises symbol price change NMDC 6.54 +0.59 +9.9% ASMAK 32.80 +2.95 +9.9% FH 6.25 +0.55 +9.6% QCEM 1.16 +0.10 +9.4% ADNIC 8.50 +0.63 +8%

worst stock falls symbol price change EIC 6.50 -0.65 -9.1% GCEM 2.55 -0.25 -8.9% NBS 1.37 -0.12 -8.1% SHUAA 1.30 -0.11 -7.8% TKFL 8.24 -0.46 -5.3%

top volume symbol value (AED) price ARTC 129,726,498 5.28 EMAAR 62,577,185 2.93 ALDAR 53,131,538 4.92 DFM 24,275,253 1.25 FGB 16,543,786 9.99

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