UAE markets 22 Dec 2008

UAE market news & discussions for 22 December 2008 Yesterday's rout continued today, although for the positive spin doctors you could say the rate of decrease slowed slightly. The DFMGI was down 3.9% to 1732 points with AED 225m of turnover from 146m shares. The ADX fell 2.9% to 2502 with turnover higher than Dubai for a change, at AED 277m from 124m shares - Arkan Building Materials in the spotlight with heavy trading, a substantial increase, and no news. On the Nasdaq Dubai, DP World is unchanged at $0.32, and Depa is also unchanged at $0.51 as of 15:30 UAE time. European and Asian stocks fell, and US stock futures are down slightly. Shuaa Capital and Union Properties shares were suspended on the DFM this morning for a period of time, while they released disclosures during trading hours, which is not the first time Shuaa shares have been suspended in recent months. Grand Real Estate finally disclosed their 2008 3Q preliminary financial results, resulting in a lifting of the trading suspension imposed by DFM over a month ago. FGB was reported to have cut "scores" of jobs, which didn't help their share price as it plummeted again today, despite some share buybacks late in the session. The NYT report last week of the Abu Dhabi Investment Authority losing money in the Madoff fund was apparently denied according to the Al Ittihad newspaper this morning. RAK Bank will provide mortgage finance for Aldar and Sorouh properties. Forbes said that Etisalat was the best Middle East telecom brand. Press "1" if you agree or "0" to speak to an operator.. UAE financial news - latest news from Reuters, Bloomberg and UAE media Sharewadi calendar - important dates Dubai Financial Market As usual, Emaar Properties (EMAAR) dominated the floor with AED 76m worth of trading, and fell a relatively mild 4.9% to 2.50. Arabtec (ARTC) also saw heavy trading and crashed 10% limit down again, with no buyers in the queue. Emarat Takaful Insurance (TAKAFUL-EM) was the only gainer, up by 10.2% to 1.19 on low turnover. Shuaa Capital (SHUAA) joined Arabtec in the limit down no buyers list, closing at 1.03. Dubai Islamic Bank (DIB) and Union Properties (UPP) fell over 8%, Gulf Navigation (GULFNAV) just under 8%, Islamic Arab Insurance (IAIC), Arab International Logistics (ARMX), Emirates Integrated Telecommunications (DU), and Deyaar Development (DEYAAR) all fell 5-7%, and the remainder less than 5% or on thin trading. Abu Dhabi Securities Exchange Arkan Building Materials (ARKAN) stood out in Abu Dhabi with a solid 4.5% gain to 5.69, and the second highest in the traded value list with almost AED 50m worth of deals. Sorouh Real Estate (SOROUH) was the top stock by value for a change, falling 2.4% to 2.95, while Aldar Properties (ALDAR), usually the highest, was in third place and plunged 8.1% to 4.14. Ras Al Khaimah Cement (RAKCC) was another unusual standout stock with much greater than usual trading activity as it fell 4.4% to 0.82. First Gulf Bank (FGB) fell 9.25% to 8.50 despite the company buying back some shares. Sharjah Islamic Bank (NBS) saw 10% limit down trading with more than AED 1m worth of deals, Aabar Energy (AABAR) fell 8.9% to 1.84, Abu Dhabi Commercial Bank (ADCB), Union National Bank (UNB), and Abu Dhabi Islamic Bank (ADIB) also dragged the bank sector down with 7-9% falls, Abu Dhabi National Energy (TAQA) fell 5.7%, Emirates Telecom (ETISALAT) fell 3% to 11.25, and National Bank of Abu Dhabi (NBAD) came off relatively unscathed with only a 1.1% fall from minimal trading. The other losers fell less than 5% or on thin trading. Apart from Arkan, there were only 2 other gainers, both rising on low volumes.

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
RAKBANK Aldar Sorouh mortgage finance sharewadi Mon 22 Dec 2008 15:05 Etisalat Forbes best ME telecom brand sharewadi Mon 22 Dec 2008 14:48 Oil Prices sammy Mon 22 Dec 2008 14:23 Target prices for Jan 2009 bandakok Mon 22 Dec 2008 14:22 FGB job cuts glued Mon 22 Dec 2008 12:52 Whats Going On?! glued Mon 22 Dec 2008 12:29 Abu Dhabi ADIA and Madoff sharewadi Mon 22 Dec 2008 12:28 Marketwatch DFM ADX December 2008 sharewadi Mon 22 Dec 2008 12:16 Shuaa EGM, shares suspended again sharewadi Mon 22 Dec 2008 12:01 GRAND shares suspended no 3Q results sharewadi Mon 22 Dec 2008 11:49 Union Properties convertible bond sharewadi Mon 22 Dec 2008 11:18 Credit Suisse update UAE property glued Mon 22 Dec 2008 11:10 UAE job cuts sharewadi Mon 22 Dec 2008 10:53 Mawarid IPO sharewadi Mon 22 Dec 2008 10:00 Global Investment House default risk sharewadi Sun 21 Dec 2008 22:27 ALDAR Oberoi Yas Island & Al Raha hotels Bimcnorth Sun 21 Dec 2008 21:51 Abu Dhabi Accountability Authority Bimcnorth Sun 21 Dec 2008 16:14

best stock rises symbol price change TAKAFUL-EM 1.19 +0.11 +10.2% NMDC 8.07 +0.73 +9.9% ARKAN 5.57 +0.24 +4.5% METHAQ 2.87 +0.05 +1.8%

worst stock falls symbol price change ARTC 4.23 -0.47 -10% ADSB 3.47 -0.38 -9.9% SHUAA 1.03 -0.11 -9.6% SALAM_BAH 0.77 -0.08 -9.4% FGB 8.24 -0.84 -9.3%

top volume symbol value (AED) price SOROUH 78,596,299 2.88 EMAAR 75,658,852 2.50 ARKAN 48,356,663 5.57 ALDAR 46,010,344 4.21 ARTC 35,797,982 4.23

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