UAE markets 30 Jul 2008

UAE market news & discussions for 30 July 2008 Both local markets finished the week, and the month, on a positive note, gaining about 1% each although trading levels were still muted. Gulf General Investments soared on busy trading in Dubai today, while Dana Gas and Etisalat stood out in Abu Dhabi with reasonable gains on solid volumes. On the DIFX, DP World rose 2.6% to $0.78, Damas fell 2% to $1.00, Depa was untraded, and a couple of rare trades for Goldfields as their price fell 5.9% to $11.50. There were a couple of large insider sales on the ADX today by board members - 5.6m shares of Aabar, and 5.2m shares of Abu Dhabi National Hotels. All three UAE markets are closed tomorrow for the Israa Wa Al Miraj holiday. 2008 second quarter results released or updated today Aabar Investments (AABAR) - Q2 profit Dh550m +2,286%, H1 590m +2,259%. Massive apparent gains because of the sale of Pearl Energy to Mubadala in Q2. Aabar now have lots of money but what are they going to do with it? The BOD report that came with the statements said Aabar "look forward to another successful year ahead". How they'll do that now that they've sold all their assets, was not explained. Al Ain Ahlia Insurance (AAAIC) - Q2 profit Dh41m +69%, H1 73m +15%. Abu Dhabi National Takaful (TKFL) - Q2 profit Dh8.8m +278%, H1 11m +18%. Big growth in Q2 profits but Takaful seems to be making a loss from their insurance operations, and shareholder loans to policyholders are turning that into profit. Agthia Holding (AGTHIA) - Q2 profit Dh19m +86%, H1 38m +94%. Results released only one day later than they said they would. A solid overall performance with good growth in Revenue and Net Profit. Share price still higher than market average based on earnings but much more reasonable than last year. Asmak International Fish Farm (ASMAK) - Q2 profit Dh1.6m +1,139%, H1 2.4m +114%. Flying profit growth from the flying fish stock but only because this time last year, they were losing money. Still hard to see what justifies the share price at triple digit PE levels. Dubai Development Company (DDC) - Q2 loss Dh-0.016m -128%, H1 0.1m -49%. No operational revenue, income only from interest on deposits. Dubai Investments (DIC) Q2 profit Dh550m +50%, H1 1bn +29%. Revenue from property sales and core operations almost doubled, so the question is why not all of that growth filtered down to growth in Net Profit? Perhaps that's why shares trade at low PEs of around 6 instead while the market average is more than double that. Dubai Insurance Company (DIN) - Q2 profit Dh63m +583%, H1 74m +254%. Soaring profits on the back of significant gains from property and other investments. Nevertheless, there was solid growth in the insurance part of their business too. No shares traded since June 2008. Take out the extraordinary income, and their shares still look cheap enough compared to many other insurance companies. Emirates Driving Company (DRIVE) - 2008 Q2 profit Dh16m +2%, H1 35m +33%. Fujairah National Insurance (AFNIC) - Q2 profit Dh27m +97%, H1 40m +99%. Solid growth and if shares really did trade at the last quoted price, they look like they'd be a bargain. Fujariah Trade Center (FTC) - Q2 profit Dh0.24m -38%, H1 0.62m -14%. Not a great set of results for a company with shares that never trade on the ADX. Gulf Cement Company (GCEM) - Q2 profit Dh90m -45%, H1 200m -21%. Gulf Petroleum Investments (GPI) - Q2 profit Dh35m +67%, H1 72m +136% Ras Al Khaimah Ceramics (RAKCEC) - Q2 profit Dh62m +10%, H1 110m +23%. Unspectacular, but steady growth. Shares don't look like a bargain but are cheaper than they have been for a while based on earnings, and increasing ROE makes them worth considering. Sharjah Insurance Company (SICO) - SICO 2008 Q2 profit Dh22m -57%, H1 63m -5%. Sudan Telecom (SUDATEL) - Q2 profit Dh210m -14%, H1 420m -4%. Shares look cheap based on earnings but a fall in profits makes them look less attractive than the other telecom companies listed in the UAE. ShareWadi calendar this week and next week Wednesday, 30 July 2008 AAAIC 08Q2 financial statements and BOD report (ADX, pm) AABAR 08Q2 financial statements (ADX, am) ADX DFM last day of trading this week (holiday tomorrow) AFNIC 08Q2 financial statements and BOD report (ADX, during trading) AGTHIA 08Q2 financial statements and BOD report (ADX, am) ALDAR 08Q2 financial statements and BOD report (ADX, am). Press release yesterday pm. AOIC 08Q2 financial statements (DFM, am) ASMAK 08Q2 financial statements and BOD report (ADX, am) ASNIC rights issue shares in shareholder accounts (DFM notice) BAYAN 08Q2 financial statements (DFM, am) BOS 08Q2 financial statements (ADX, pm) DDC 08Q2 financial statements (DFM, pm) DIC 08Q2 financial statements (DFM, pm) DIC 08Q2 results due after trading today DIN 08Q2 financial statements (DFM, am) DRIVE 08Q2 financial statements (ADX, pm) FTC 08Q2 financial statements and BOD report (ADX, am) GCEM 08Q2 financial statements and BOD report (ADX, pm) GPI 08Q2 preliminary financial results (DFM, am) but disclosure not clear. NBF 08Q2 financial results press release (ADX, pm) RAKCEC 08Q2 financial statements and BOD reports (ADX, am) SICO 08Q2 financial statements and BOD report (ADX, pm) SUDATEL 08Q2 financial statements (ADX, am) TKFL 08Q2 financial statements and BOD report. On ADX site am, then removed, then added during trading. Thursday, 31 July 2008 ADX closed for Al Israa Wa Al Miraj holiday DFM closed for Al Israa Wa Al Miraj holiday DIFX closed for trading due to Isra Wal Meraj holiday DrakeScull DSI share allotment notices and refunds start UAE public sector holiday Al Israa Al Miraj. Friday, 01 August 2008 Saturday, 02 August 2008 Sunday, 03 August 2008 AABAR EGM to vote on convertible bond proposal - changed to 18 Aug 2008 ETISALAT 2008 25% interim dividend distribution date KFIC (Kuwait) secondary listing on DFM, trading starts Monday, 04 August 2008 DAR-TAKAFUL listing on DFM, trading starts TKFL BOD meeting at 10:00am, agenda not supplied Tuesday, 05 August 2008 SHOP BOD meeting 08Q2 results? Unclear disclosure Wednesday, 06 August 2008 Thursday, 07 August 2008 TAQA 08Q2 results to be released before market open (Taqa disclosure 29 July 2008) TAQA 08Q2 results conference call at 4:00pm Dubai Share Talk latest posts

• AABAR 08Q2 profit Dh550m +2,286%
• Air Arabia Fair Value at AED 2.5
• ALDAR 08Q2 profit Dh1.2bn +171%
• ADNH 08Q2 profit Dh140m +10%
• AFNIC 08Q2 profit Dh27m +97%
• AGTHIA 08Q2 profit Dh19m +86%
• ASMAK 08Q2 profit Dh1.6m +1,139%
• CIB US loan for mortgages
• DIC 08Q2 profit Dh550m +50%
• DIN 08Q2 profit Dh63m +583%
• Dubai Mall opening date
• EMAAR 08Q2 profit Dh1.66bn +7%
• FTC 08Q2 profit Dh0.24m -38%
• GGICO buys Quality International
• Investor Relations in the Middle East?
• Marketwatch ADX DFM July 2008
• Msharie IPO
• RAKCEC 08Q2 profit Dh62m +10%
• Rashed Investment Bank
• SUDATEL 08Q2 profit Dh210m -14%
• TAQA Japan loan Dh12.8bn
• TKFL 08Q2 profit Dh8.8m +278%

More UAE stock market news and discussions...

best stock rises symbol price change GRAND 2.99 +0.36 +13.7% NMDC 11.65 +1.05 +9.9% GGICO 9.00 +0.75 +9.1% TKFL 8.40 +0.67 +8.7% ASMAK 34.95 +1.45 +4.3%

worst stock falls symbol price change UNION 4.11 -0.39 -8.7% GMPC 3.46 -0.18 -4.9% JULPHAR 2.54 -0.08 -3.1% ARTC 19.05 -0.35 -1.8% QTEL 170.00 -3.00 -1.7%

top volume symbol value (AED) price ALDAR 188,617,901 12.35 DANA 112,359,017 1.88 EMAAR 102,319,849 10.50 ETISALAT 92,203,894 19.85 AIRARABIA 74,072,409 1.61

Dubai Financial Market

The DFMGI rose 1.1% to 5405 points with turnover still low at AED 600m and Emaar Properties (EMAAR) the only stock to trade more than AED 100m worth (just) as it gained 1.45% to close at 10.50.

GGICO was the star today as it gained 9.1% to 9.00 on heavy trading - they announced the acquisition of Quality International. Amlak Finance (AMLAK) had a decent 3.4% rise to 4.53, AIRARABIA was up 2.55% to 1.61, and most other stocks rose less than 2%.

There were only 3 losers today, Arabtec (ARTC) the worst with a 1.8% fall to 19.05, and Shuaa Capital (SHUAA) and Aramex (ARMX) both falling less than 1%.

Abu Dhabi Securities Market

The ADX saw a 0.9% rise to 4976 points with turnover up a little to AED 770 and two stocks breaking the AED 100m traded value level - Aldar Properties (ALDAR) with almost AED 200m and a 0.8% rise to 12.30, and Dana Gas (DANA) with a solid 3.9% jump to 1.88, presumably on news of their Gas City project in Iraq although that was out during trading yesterday. Dana also topped the list of gainers, excluding those on turnover of less than AED 1m. Etisalat (ETISALAT) was unusually active with just under AED 100m of trading and a 2.1% gain to 19.65. The remaining gainers rose less than 2% or on thin trading.

Julphar was the only stock to stand out in the list of 11 losers, falling 3.05% to 2.61 on greater than usual turnover. The others fell less than 1% or on thin trading. RAK Cement (RAKCC) fell 0.84% to 3.60 on unusually active trading.

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UAE markets 29 Jul 2008

UAE market news & discussions for 29 July 2008 Not a great day for either market as both fell, albeit on limited turnover. Very few stocks had a good day. Taqa, Aramex, and Gulf Navigation had small gains and the remaining actively traded stocks fell. Asmak stood out with limit up trading and greater than usual turnover - their results must be due any day now. On the DIFX, DP World saw a nasty 5% fall to $0.76, while Depa rose 3.2% to $1.30 on a handful of trades, and Damas was unchanged at $1.02 from just a single trade. 2008 second quarter results released or updated today Al Buhaira National Insurance (ABNIC) - 2008Q2 profit Dh46m +64%, H1 80m +37%. Shares look more expensive than most other non-Islamic insurance companies listed in the UAE. Al Dhafra Insurance Company (DHAFRA) - 2008 Q2 profit Dh22m +12%, H1 43m +32%. Profit growth moderate and shares look cheaper than the other two Abu Dhabi insurance companies that also releaed results today. Abu Dhabi National Hotels (ADNH) - 2008 Q2 profit Dh140m +10%, H1 280m +6%. Nothing like as impressive as yesterday's set of results from NCTH, the other hotel company listed on the ADX. Abu Dhabi National Insurance (ADNIC) - 2008 Q2 profit Dh33m -21%, H1 270m +20%. Poor results for Q2 but good results in the first quarter of this year means that shares now look fairly price compared to other non-Islamic insurance companies. Aldar Properties (ALDAR) - 2008 Q2 profit Dh1.2bn +171%, H1 2.6bn +187% (press release). Soaring profit growth again for the Abu Dhabi property developer from land and property sales. They also told us about projects under development, and that they had borrowed lots of money. Bayan Investment Company (BAYAN) - 2008 Q2 profit Dh410m +468%, H1 360m +94%. Massive profit growth for the second quarter but no explanation from Bayan. National Bank of Fujairah (NBF) - 2008 Q2 profit Dh98m +35%, H1 150m +1%. One of the more expensive bank stocks, especially considering the rather modest profit growth. Sharjah Cement (SCIDC) 2008 Q2 profit Dh77m -17%, H1 160m -2%. Unsurprisingly, energy costs ate into growing Revenue and impacted on the bottom line, in common with most other UAE cement companies. Although not as badly as yesterday's Union Cement. ShareWadi calendar this week Tuesday, 29 July 2008 ABNIC 08Q2 financial statements and BOD report (ADX, am) ADNH 08Q2 financial statements and BOD report (ADX, pm) ADNIC 08Q2 financial statements (ADX, pm) AGTHIA 08Q2 results due ALDAR BOD meeting at 2:00pm - 08Q2 financial results ALDAR 08Q2 preliminary financial results (press release, pm, not on ADX website) ARTC 08Q2 financial statements (DFM, pm) BAYAN 08Q2 preliminary financial results (DFM, am) DHAFRA 08Q2 financial statements and BOD report (ADX, am) FBICO 08Q2 financial statements and BOD report (ADX, am) GLOBAL 08Q2 financial statements (DFM, during trading) GLOBAL 08Q2 preliminary financial results (DFM, am) GPI BOD meeting, agenda not supplied MASQ 08Q2 financial statements and press release (DFM, am). Again? Were released yesterday. MAZAYA 08Q2 preliminary financial results (DFM, am) NBF 08Q2 preliminary financial results (ADX, am) SCIDC 08Q2 financial statements and BOD report (ADX, pm) Wednesday, 30 July 2008 ADX DFM Last day of trading this week (holiday tomorrow) Thursday, 31 July 2008 DFM closed for Al Israa Wa Al Miraj holiday DIFX closed for trading due to Isra Wal Miraj holiday DrakeScull DSI share allotment notices and refunds start UAE public sector holiday Al Israa Al Miraj. DFM ADX DIFX closed? Sunday, 03 August 2008 AABAR EGM to vote on convertible bond proposal ETISALAT 2008 25% interim dividend distribution date KFIC (Kuwait) secondary listing on DFM, trading starts Dubai Share Talk latest updates

• ABNIC 08Q2 profit Dh46m +64%
• ADNH 08Q2 profit Dh140m +10%
• ADNIC 08Q2 profit Dh33m -21%
• ALDAR 08Q2 profit Dh1.2bn +171%
• AMLAK SkyCourts sales
• BAYAN 08Q2 profit Dh410m +468%
• DANA Kurdistan Gas City site
• Dar Takaful IPO
• DHAFRA 08Q2 profit Dh22m +12%
• DIC Mirdiff Hills
• Drake Scull oversubscription
• EMAAR conference call 08Q2 earnings
• ESCA margin trading DFM ADSM
• FMI1 binding restructuring
• Investor Relations in the Middle East? Press feedback
• Isra Wa Miraj holiday Thursday
• KFIC Tamwilia secondary listing
• Margin trading DFM ADX
• Marketwatch ADX DFM July 2008
• MAN Q12008 financial results
• MAZAYA 2008Q2 profit Dh170m +55%
• NBF 08Q2 profit Dh98m +35%
• SCIDC 08Q2 profit Dh77m -17%
• Summer Sale ... best discounted prices
• TAQA 08Q2 results date 07 Aug

More UAE stock market news and discussions...

best stock rises symbol price change ASMAK 33.50 +2.30 +7.4% ADSB 5.19 +0.29 +5.9% ADNIC 9.50 +0.50 +5.6% FH 14.85 +0.65 +4.6% INVESTB 3.25 +0.14 +4.5%

worst stock falls symbol price change GRAND 2.63 -0.45 -14.6% ABNIC 8.35 -0.92 -9.9% FBICO 3.93 -0.43 -9.9% QCEM 2.99 -0.15 -4.8% GULFA 2.22 -0.11 -4.7%

top volume symbol value (AED) price TAQA 88,301,944 3.06 ARTC 74,722,944 19.40 TAMWEEL 67,979,311 7.64 ALDAR 67,947,146 12.25 SOROUH 66,965,252 9.10

Dubai Financial Market

The DFMGI suffered a 1.36% drop to 5348 points on another day of subdued trading with only AED 549m worth of turnover and no stocks trading more than AED 100m worth. Arabtec (ARTC) had the highest turnover of AED 75m as it fell 0.5% to 19.40, Tamweel (TAMWEEL) was also busy and lurched downwards by 2.9% to 7.64.

Aramex (ARMX) was the only gainer rising more than 1% on turnover greater than AED 1m, and ended the day 1.3% higher at 2.35. GULFNAV was the only other actively traded stock to rise, just 0.6% to 1.66.

MAZAYA was the worst of the losers on turnover more than AED 1m, falling 3.1% to 12.50 from thin trading nevertheless. AIRARABIA suffered a 3.1% fall also, to 1.57. Union Properties (UPP) lost 2.7% to close at 5.36, Tabreed (TABREED) 2.6% to 2.22, Islamic Arab Insurance (IAIC) and TAKAFUL-EM 2.4%, Emaar Properties (EMAAR) also 2.4% to 10.35, and the remaining losers fell less than 2% or on thin trading.

Abu Dhabi Securities Market

The Abu Dhabi market didn't suffer quite as badly as Dubai, but still fell 0.9% to 4931, but with turnover more subdued at AED 411m. No stocks traded more than AED 100 million. Abu Dhabi National Energy (TAQA) was the top of the list with AED 88m and a 1.7% rise to 3.00.

ASMAK stood out with limit up trading to 34.30 on unusually active trading and no sellers in the queue. Other stocks with good gains on greater than AED 1 m turnover included Finance House (FH) up 4.6% to 14.50, Invest Bank (INVESTB) 4.5% to 3.35, Bank Of Sharjah (BOS) up 2.4% to 2.97. Taqa was the only other gainer of note.

The top eight losers fell on less than AED 1 m of turnover each, including yesterday's star performer - ADNH, which fell 3.8% to 8.31. Sorouh Real Estate (SOROUH) was the worst of the more actively traded losers, down by 2.15% to 9.05. NBS was busy and dropped 2.0% to 2.99. RAK Cement (RAKCC) fell 1.65%, National Bank of Abu Dhabi (NBAD) 1.6%, Etisalat (ETISALAT) 1.5% to 19.70, First Gulf Bank (FGB) 1.3%, Aldar Properties (ALDAR) 1.2% and the remainder by less than 1%.

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• Discuss UAE companies at Dubai Share Talk.

UAE markets 28 Jul 2008

UAE market news & discussions for 28 July 2008 Abu Dhabi National Hotels (ADNH) soared and was the second most heavily traded stock by value in the UAE today. Are 08Q2 results due shortly? Previous results have been released towards the end of the month following the end of the quarter. Another Abu Dhabi tourism company, National Corporation for Hotels & Tourism (NCTH) did release results this afternoon with massive profit growth, but their shares saw only one trade and price was unchanged. Surely traders didn't get the two companies confused? International Fish Farming (ASMAK) and Union Insurance (UNION) also saw busier than usual trading with a big gain for Asmak and a small gain for Union. Neither company has released results yet but again, previoius results have been released towards the end of the month. Looks like a bit of leakage on the Abu Dhabi trading floor... Depa said they would release 08Q2 results on 20 August 2008, and expects 50% profit compared to the same time last year. DFM said they would be closed on Thursday for the Israa Wa Al Miraj holiday. The ADX hasn't said anything yet but presumably they will be also. Global released a report on Julphar shares, giving them a BUY rating. Al Mal Capital yesterday released a couple of notes about Emaar and Sorouh based on preliminary results - Sorouh's foggy press release leaving them also wondering wondering what happened to the AED 70 million that wasn't included in the original press release. Both stocks were rated a BUY. DIFX saw DP World fall $0.02 to $0.80 and Damas rise $0.01 to $1.02 with only one trade for Damas and modest trading for DP World. Moody's issued an updated report on DP World continuing with its A1 rating. 2008 second quarter results released or updated today Alliance Insurance (ALLIANCE) this morning - net profit Q2 profit Dh9.5m -36%, H1 27m -9%. They recently opened up to foreign ownership but no foreigners, or anyone else for that matter, were buying their shares. Ekttitab Holding (EKTTITAB) this morning - net profit Q2 Dh98m +462%, H1 190m +984%. Massive growth in investment income just brings their share price in line with the average for the other Kuwait investment companies with a secondary listing on the DFM. Global Investment House (GLOBAL) - press release this afternoon. Net Profit Q2 profit Dh660m +96%, H1 1.1bn +76%. Impressive gains, and shares look a little cheaper than other Kuwait investment companies. MashreqBank (MASQ) this afternoon - net profit Q2 profit Dh710m +38%, H1 1.2bn +23%. Some unexplained restatement of 2007 H1 & Q2 results meant that the Gross Profit increase in the press release was higher than it would have been. Share price looks fair compared to the overall market average but a bit more expensive than other bank stocks. National Corporation for Hotels and Tourism (NCTH) this afternoon - net profit Q2 Dh37m +558%, H1 68m +722%. Astonishing growth due to increased revenues while cost increases were held in check. What are they doing right? Surprisingly, it was the other ADX listed hotel company that saw its shares soar today. Union Cement (UCC) statements released during trading hours - Union Properties (UPP) late yesterday - net profit Q2 Dh320m +106%, H1 560m +89%. Solid profit growth and PE close to market average, but not good enough for investors today - share price fell, along with most other stocks on the DFM. Sharewadi Calendar this week Monday, 28 July 2008 ALLIANCE 08Q2 financial statements (DFM, am) ALMADINA BOD meeting, 08Q2 results? Agenda not supplied. EKTTITAB 08Q2 financial statements (DFM website, during trading) GFH 08Q2 financial statements (DFM website, during trading). Press release 21 July 2008 GLOBAL 08Q2 financial results press release (pm, not on DFM site) GULFNAV 08Q2 financial statements (DFM, am) MASQ 08Q2 financial statements and press release (DFM, pm) MAZAYA BOD meeting 08Q2 results? Agenda not supplied. NBAD 08Q2 financial statements (ADX, pm). Again? Were released on 24 July 2008? NCTH 08Q2 financial statements & BOD report (ADX, pm) NTWK 09FY financial guidance issued UCC 08Q2 financial statements (ADX website, during trading) UPP 08Q2 preliminary financial statements (DFM, am) NBF BOD meeting at 5:00pm to review 08Q2 results ARKAN BOD meeting at 7:30pm? Agenda not supplied. Tuesday, 29 July 2008 AGTHIA 08Q2 results due GPI BOD meeting, agenda not supplied ALDAR BOD meeting at 2:00pm - 08Q2 financial results Wednesday, 30 July 2008 Thursday, 31 July 2008 DFM closed for Al Israa Wa Al Miraj holiday DIFX closed for trading due to Isra Wal Miraj holiday DrakeScull DSI share allotment notices and refunds start UAE public sector holiday Al Israa Al Miraj. DFM ADX DIFX closed? Sunday, 03 August 2008 AABAR EGM to vote on convertible bond proposal ETISALAT 2008 25% interim dividend distribution date KFIC (Kuwait) secondary listing on DFM, trading starts DubaiShareTalk latest updates

• AABAR convertible bond
• Agility EQUATE contract
• ALLIANCE 08Q2 profit Dh9.5m -36%
• Best stocks to buy this week?
• Best Cash or share dividends payout
• DANA Iran gas deal optimism
• Dar Takaful IPO
• DEPA 08Q2 results expectations
• DRC Techno Park land
• EKTTITAB 08Q2 profit Dh98m +462%
• EMAAR conference call 08Q2 earnings
• Emaar Al Mal report 08Q2
• GLOBAL 08Q2 profit Dh660m +96%
• GULFNAV 2008Q2 profit Dh48m +105%
• Isra Wal Miraj holiday Thursday
• Julphar GLOBAL report
• Marketwatch ADX DFM July 2008
• MASQ 08Q2 profit Dh710m +38%
• NBAD convertible notes
• NCTH 08Q2 profit Dh37m +558%
• SOROUH Al Mal 08Q2 report
• TAMWEEL Dh1.1bn Sukuk closes
• UCC 08Q2 profit Dh38m -60%
• UPP 08Q2 profit Dh320m +106%

More UAE stock market news and discussions...

best stock rises symbol price change TKFL 7.73 +0.70 +10% ASMAK 31.20 +2.70 +9.5% BILDCO 3.86 +0.21 +5.8% ADNH 8.62 +0.35 +4.2% GMPC 3.78 +0.13 +3.6%

worst stock falls symbol price change JULPHAR 2.51 -0.27 -9.7% AKIC 2.56 -0.20 -7.2% INVESTB 3.11 -0.22 -6.6% GULFA 2.33 -0.12 -4.9% ADSB 4.90 -0.25 -4.9%

top volume symbol value (AED) price ALDAR 138,931,954 12.40 ADNH 112,037,958 8.62 AJMANBANK 94,570,296 3.30 METHAQ 83,435,674 7.69 EMAAR 73,642,146 10.60

Dubai Financial Market

The DFMGI was in the green today, rising by 0.275 to 5422 points although turnover was still low at only AED 514 million. There were no stocks trading over AED 100m today although AJMANBANK at AED 94m was close, as it gained 0.61% to 3.30. Emaar Properties (EMAAR) was in second place by traded value and rose 0.95% to 10.60.

Arabtec (ARTC) topped the short gainers list, excluding the single trade for Commercial Bank of Dubai (CBD), as it recovered from yesterday's fall to rise 2.6% to 19.50. AMAN also recovered and rose 2.1% to 3.37. Emirates NBD (ENBD) was the only other stock rising more than 1% on turnover of more than AED 1m and closed 1.7% higher at 11.90 Emirates NBD and Emaar, due to their size, kept the index in the green despite the large number of decliners today.

GULFNAV topped the list of losers with a 2.9% fall to 1.65 (excluding the single rare trade for GULFA). Amlak Finance (AMLAK) fell 2.0% to 4.41, DFM was down 1.9%, Tamweel (TAMWEEL) 1.6%, DEYAAR 1.4%, GGICO 1.3%, Union Properties (UPP) 1.25%, TAKAFUL-EM 1.2%, and another 7 stocks fell less than 1%.

Abu Dhabi Securities Market

The ADX dropped below 5000 points as it fell 0.61% to 4975 with turnover still at modest levels with AED 597m worth of trades today. Two stocks clocked in more than AED 100m worth - Aldar Properties (ALDAR) dropping a substantial 3.1% to 12.40, and a surprisingly busy day for ADNH as it gained a solid 4.2% to 8.62.

In the gainers list, ASMAK stood out with a 9.5% gain to 30.00 on greater than usual trading, BILDCO (BILDCO) was up 5.75% to 3.90 with turnover slightly higher than AED 1m. RAK Ceramics (RAKCEC) rose 2.0% to 4.10, UNION rose 1.35% to 4.30 on greater than usual trading, Abu Dhabi National Energy (TAQA) was up 1.0%, and another 7 stocks rose on less than 1% or on less than AED 1m of turnover.

Invest Bank (INVESTB) stood out in the loser's list plummeting 6.6% to 3.15 on greater than usual turnover, Aldar as mentioned already, dived 3.1%, AGTHIA was down 1.5%, Sorouh Real Estate (SOROUH) and RAK Cement (RAKCC) 1.4%, Oasis Leasing (OILC) 1.2%, Dana Gas (DANA), First Gulf Bank (FGB), and RAK Properties (RAKPROP) 1.1%, and another 13 stocks fell less than 1% or on turnover of less than AED 1m.

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UAE markets 27 Jul 2008

UAE market news & discussions for 27 July 2008 The DFMGI kicked off the week by falling but turnover was subdued. Arabtec stood out at the top of the traded value table as the share price tumbled despite positive results announced yesterday. Abu Dhabi was almost flat with slightly higher turnover, although most stocks fell - the index probably saved by small rises in two of the big banks. There were no gainers of significance in either market today. Dar Takaful (Takaful House) will list on the DFM on 04 August 2008 (primary listing). Kuwait Finance and Investment Company (KFIC) will list on the DFM on 03 August 2008 (secondary listing) About half the companies listed on the UAE stock markets have released second quarter results information so far. Average PE is about 12.7 (weighted by Market Cap, unweighted is 15.7), average PBV is 3.5, and average Return on Equity (ROE) is about 29%. See the UAE stocks list for more details. Second quarter results released and updated today Arab Bank Jordan (ARABBANK) - 2008 H1 profit AED 1.7 billion +26% which sounds good. Arab Bank was approved almost 2 years ago for a secondary listing on the ADX. No news about a listing date with results information. Arabtec (ARTC) press release yesterday - 2008 Q2 net profit Dh270m +142%, H1 510m +191%. Roaring growth yet again from the construction firm, beating analysts forecasts. Despite the positive result, shares were the worst performer on the DFM today on increased trading levels. Bank of Sharjah (BOS) press release this afternoon - 2008 Q2 profit +150% to Dh220m and H1 +103% to 310m, income boosted by revenue from bond conversion during the period making their shares look cheaper than most other bank stocks, at least for this quarter. Commercial Bank International (CBI) - financial statements released this morning. 2008 Q2 profit -8% to AED 91m, H1 -4% to AED 130m. Net Profit fell due to rising SG&A costs, despite an impressive growth in Revenue & Gross Profit. The supplied director's report didn't explain why, or what they plan to do about it, but instead said that profit growth was "... was very encouraging and positive." Share price looks similar to other bank stocks based on earnings, but many of them have had a much better quarter. Dubai Islamic Bank (DIB) press release yesterday - 2008 Q2 profit Dh750m -31%, H1 1.3bn -13% although DIB changed their mind about including proceeds from the Deyaar sale last year in their headline, and said profits grew. Despite the inconsistent reporting, shares look attractively priced, along with most of the other large UAE banks. Fujairah Building Industries (FBICO) - preliminary financial results released during trading hours. 2008 Q2 profit +26% to AED 9.4m, and H1 +27% to AED 18m. Unspectacular profit growth considering the much more impressive growth in Revenues. Figures for Cost of Revenue were not supplied. Shares don't look cheap based on initial review of results. Gulf Navigation (GULFNAV) press release yesterday - 2008 Q2 profit Dh48m +105%, H1 93m +95%. Good growth in profit over the previous year mean shares now look cheaper than the market average based on earnings, but profits have levelled off for the past three quarters. Oman Insurance Company (OIC) financial statements this afternoon - 2008 Q2 profit Dh250m +226%, H1 360m +115%. Looks like one of the better performing insurance companies with shares looking cheap based on today's results. Salam International Investments (SALAM) press release this morning - 2008 Q2 profit Dh44m +69%, H1 99m +90%. Shares seem to be priced at a similar level to the other foreign investment companies with a secondary listing in the UAE. Sorouh Real Estate (SOROUH) (update) - complete financial statements released this morning with an increased figure for Net Profit due to Shareholders and a resulting improvement in PE and PBV values. An included directors report was one of the better ones seen so far. Tamweel Finance (TAMWEEL) (update) - complete financial statements released this morning with the still unexplained variation Q2 & H1 income figures for 2007. Sharewadi Calendar this week Sunday, 27 July 2008 ARTC 08Q2 preliminary financial results (DFM website, am, press release yesterday) BOS 08Q2 preliminary financial results press release (ADX, pm) CBI 08Q2 financial statements (ADX, am) DIB 08Q2 preliminary financial results (DFM website, am, press release yesterday) EKTTITAB BOD meeting 08Q2 results? No agenda supplied. ETISALAT 2008 25% interim dividend record date FBICO 08Q2 preliminary financial results (ADX, during trading) GPI BOD meeting 08Q2 results this week? Agenda and date not supplied. GULFNAV 08Q2 preliminary financial results (DFM website, am, press release yesterday) IIG BOD meeting, agenda not supplied OIC 08Q2 financial statements (DFM, pm) RAPCO 08Q2 financial results BOD report (ADX, am, Arabic) SALAM 08Q2 preliminary financial results press release (DFM website, am) SOROUH 08Q2 financial statements (am, ADX) TAMWEEL 08Q2 financial statements (press release 21 July 2008) Monday, 28 July 2008 ALMADINA BOD meeting, 08Q2 results? Agenda not supplied. ARKAN BOD meeting at 7:30pm? Agenda not supplied. MAZAYA BOD meeting 08Q2 results? Agenda not supplied. NTWK 09FY financial guidance issued NBF BOD meeting at 5:00pm to review 08Q2 results Tuesday, 29 July 2008 AGTHIA 08Q2 results due ALDAR BOD meeting at 2:00pm - 08Q2 financial results Wednesday, 30 July 2008 Thursday, 31 July 2008 DIFX closed for trading due to Isra Wal Miraj holiday DrakeScull DSI share allotment notices and refunds start UAE public sector holiday Al Israa Al Miraj. DFM ADX DIFX closed? Sunday, 03 August 2008 AABAR EGM to vote on convertible bond proposal ETISALAT 2008 25% interim dividend distribution date KFIC (Kuwait) secondary listing on DFM, trading starts DubaiShareTalk latest posts

• Air Arabia hotel
• ARABBANK 2008H1 profit $466m +26%
• ARTC 2008Q2 profit Dh270m +142%
• BOS 08Q2 profit Dh220m +150%
• CBI 08Q2 profit Dh91m -8%
• Dar Takaful IPO
• DFM Dh149m foreign selling last week
• DIB 2008Q2 profit Dh750m -31%
• DP World Brisbane
• FBICO 08Q2 profit Dh9.4m +26%
• GULFNAV 2008Q2 profit Dh48m +105%
• Isra Wal Miraj holiday Thursday
• KFIC Tamwilia secondary listing
• Marketwatch ADX DFM July 2008
• OIC 08Q2 profit Dh250m +226%
• RAPCO 08Q2 profit Dh6.5m -72%
• SALAM 08Q2 profit Dh44m +69%
• Sorouh directors report 08Q2
• SOROUH 08Q2 profit Dh620m +39%
• TAMWEEL 08Q2 profit Dh210m +266%
• TAQA Dh5.5bn bond

More UAE stock market news and discussions...

best stock rises symbol price change WARE 18.45 +2.20 +13.5% NBF 6.30 +0.55 +9.6% JULPHAR 2.78 +0.24 +9.4% QCEM 3.14 +0.10 +3.3% EKTTITAB 3.08 +0.09 +3%

worst stock falls symbol price change TKFL 7.03 -0.78 -10% FCI 5.75 -0.61 -9.6% NMDC 11.00 -0.75 -6.4% QTEL 169.80 -9.30 -5.2% FOODCO 5.41 -0.23 -4.1%

top volume symbol value (AED) price ARTC 112,864,766 19.00 SOROUH 107,061,455 9.43 METHAQ 96,296,053 7.71 EMAAR 87,549,542 10.50 TAQA 72,089,485 2.98

Dubai Financial Market

The DFMGI fell 0.55% to 5408 points with turnover relatively subdued at only AED 489 million and most stocks falling. Arabtec (ARTC) was the only stock trading more than AED 100m worth as it fell 3.3% to 19.00, also topping the loser's list.

Of the 6 gainers, only Commercial Bank of Dubai (CBD) rose more than 1% on turnover of more than AED 1 million (just barely), it ended the day at 10.70 with a rise of 1.4%. Amlak Finance (AMLAK), DIB, and Emirates NBD (ENBD) were the only more actively stocks to rise, all increasing by less than 1%.

In the loser's list, apart from Arabtec, Aramex (ARMX) fell 2.5% to 2.34, Islamic Arab Insurance (IAIC) and AMAN fell 2.4% to 2.87 and 3.30 respectively. The remaining actively traded stocks fell less than 2%. Emaar Properties (EMAAR) was down 0.94% to 10.50.

Abu Dhabi Securities Market

The ADX fared a little better than the Dubai market as it closed marginally down by 0.01% at 5005 points, with turnover of AED 508 million slightly higher than Dubai but still modest. Sorouh Real Estate (SOROUH) was the only stock trading more than AED 100 million worth, and fell 0.42% to 9.33.

There were only 9 gainers today, and the top five rose on much less than AED 1 million of traded value each. National Bank of Abu Dhabi (NBAD) was the only stock to rise more than 1% on more than AED 1 million of turnover, it gained 1.2% to 21.50. First Gulf Bank (FGB) rose 0.9% to 28.00, and Union National Bank (UNB) and Aldar Properties (ALDAR) also rose less than 1%.

The top 6 losers all fell on much less than AED 1 million of turnover, Oasis Leasing (OILC) was the worst of the more actively traded stocks as it dropped by 2.7% to 2.47. RAK Properties (RAKPROP) fell 2.1% to 1.87, Aabar Petroleum (AABAR) 1.95% to 4.52, and ther rest of the actively traded stocks fell less than 2%. Etisalat (ETISALAT) closed the day at 19.90, down by just 0.25%.

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UAE markets 24 Jul 2008

UAE market news & discussions for 24 July 2008 A busy day for results today with several insurance companies releasing results, Du losing not as much money as last year, NBAD with record profits, and Waha Capital with modest profit growth. After yesterday's big gains on the DFM, the index pulled back slightly while Abu Dhabi remained in the green. 2008 Q2 & H1 financial result updates today Abu Dhabi Ship Building (ADSB) results this morning - 2008 Q2 profit +168% to Dh36m +168%, but H1 profit soared a massive 617% to 63m. That could be due to new refit contracts awarded during the period - it's not clear if the total contract value is booked as revenue in the quarter it's awarded, or staggered over the duration of the refit. Al Madina Finance (ALMADINA) preliminary results this morning - 2008 Q2 profit +166% to AED 62m, and H1 +98% to AED 130m but in a typically obscure disclosure there was nothing to explain why their profits were up so much. Does the DFM have as prerequisites for secondary listings of Kuwait companies, that they should have bad printers and unhelpful disclosures? Al Madina fundamentals look about average for the subset of Kuwait secondary listings - PE is a little cheaper, Return on Equity (ROE) is a little higher, but Price to Book Value (PBV) is a little higher also. Arab Orient Insurance Company (AOIC) results this afternoon - Q2 profit +29% to Dh41m, and +29% to Dh 81m for H1. Steady profit growth, solid Return on Equity, and if shares really were for sale at the price ESCA quotes, they'd be one of the top bargains of the UAE stock markets. Du Telecom (DU) results this morning - Q2 loss of Dh-44m was 84% smaller than last year, and H1 loss of -110m was 79% lower. It looks like they could be on target to turn a profit either late in 2008 or early in 2009. Dubai Islamic Insurance (AMAN) - 2008 Q2 profit fell 82% to only Dh1.7m, H1 fell 45% to 7.7m. PEs are at eye-watering levels after shareholders seem to lend policyholders money to cover operating losses for the insurance company. There was an overall profit because the policyholder fees due to shareholders was larger than the loan amount. Emirates Insurance Company (EIC) - 2008Q2 profit -43% to AED 29m, H1 +8% to 95m. Profits for the quarter suffered due to increased costs despite premium revenue almost double the amount in 07Q2. Profits for the half year increased slightly because EIC had a good first quarter from investments, but even back then, their Gross Profit was stagnant despite premium revenue almost doubling. National Bank of Abu Dhabi (NBAD) - NBAD 2008 Q2 profit Dh1bn +71%, H1 1.9bn +58%. Solid profit growth looks good and there was a healthy increase in Gross Profit (Net Interest Income) despite a drop in Revenue for Q2. NBAD also added AED 120m worth of investment gains for the quarter. Overall, a good quarter and share prices are such that they are certainly worth considering if you're looking for a bank stock in Abu Dhabi. RAK Insurance (RAKNIC) results this morning - Q2 profit fell 4% to Dh8m, but H1 profit was up 1% to 24m. Revenue (gross premium) fell sharply compared to last year but there was nothing in the Directors report to explain why, or what RAKNIC plan to do about it. Sorouh Real Estate (SOROUH) - 2008 Q2 profit Dh620m +39%, H1 980m +76% - not much information from a Reuters report. There was a Board meeting this morning but results have not yet appeared on ADX website. Unknown where profit growth comes from. Share price was up on heavy trading today. Umm Al Quwain Cement (QCEM) results this morning - Q2 profit +59% to AED 81m and H1 profit +79% to 130m. Impressive profit results from the stockmarket investment division of the cement company - revaluation gains meant Net Profit was up 60-80%, and 10 times as much as what they made from the cement business - profits from which fell by a third. Shares look like a bargain based on earnings but expensive if you discount the extraordinary income. United Insurance Company (UIC) Q2 profit Dh11m +8%, H1 profit 16m (no change). Reasonable growth in core Revenue and Gross Profit from insurance operations but investments took a hit so Net Profit suffered. The market doesn't care anyway, UIC shares haven't traded since January this year. Waha Capital (OILC) results released late yesterday - Q2 profit +13% to Dh37m +13%, H1 +10% to 67m +10%. Modest growth in profits, and not really enough to justify the high PE their shares trade at. ROE is less than half the market average but according to Waha Capital, the first half of this year has laid the "foundation for growth". The market seemed to accept that, Waha shares rose 1.2% to AED 2.53 today. Sharewadi Calendar next week Thursday, 24 July 2008 ADSB 08Q2 financial statements and BOD report (ADX, am) ALMADINA 08Q2 preliminary financial results AMAN 08Q2 financial statements (DFM, am) AOIC 08Q2 financial statements (DFM, pm) ARIG 08Q2 results due before today DU 08Q2 financial statements & press release (DFM, am) EIB 08Q2 financial statements (DFM, am) EIC 08Q2 financial statements and BOD report (ADX,am) ETISALAT 2008 25% interim dividend ex-dividend date FGB complete financial statements released (ADX, am) JULPHAR 08Q2 financial statements (ADX, pm) NBAD BOD meeting, 08Q2 results? Agenda not supplied. NBAD 08Q2 financial statements and BOD report (ADX, pm) NGI 08Q2 financial statements (DFM, pm) QCEM 08Q2 financial statements (ADX, am) RAKNIC 08Q2 financial statements (ADX, am) SOROUH BOD meeting at 11:00am - 08Q2 results? Agenda not supplied. SOROUH 08Q2 financial results (pm, Reuters, not on ADX website) UIC 08Q2 financial results summary (ADX, during trading) Friday, 25 July 2008 Saturday, 26 July 2008 SALAM BOD meeting - maybe 08Q2 results (disclosure not clear) Sunday, 27 July 2008 EKTTITAB BOD meeting 08Q2 results? No agenda supplied. ETISALAT 2008 25% interim dividend record date GPI BOD meeting 08Q2 results this week? Agenda and date not supplied. IIG BOD meeting, agenda not supplied Monday, 28 July 2008 MAZAYA BOD meeting 08Q2 results? Agenda not supplied. NTWK 09FY financial guidance issued NBF BOD meeting at 5:00pm to review 08Q2 results Tuesday, 29 July 2008 AGTHIA 08Q2 results due ALDAR BOD meeting at 2:00pm - 08Q2 financial results Wednesday, 30 July 2008 Thursday, 31 July 2008 DrakeScull DSI share allotment notices and refunds start UAE public sector holiday Al Israa Al Miraj. DFM ADX DIFX closed? Dubaisharetalk latest updates

• ADSB 08Q2 profit Dh36m +168%
• Agility buys Bumi Engineering
• Ajman Bank in DFM index
• ALMADINA 08Q2 profit Dh62m +166%
• ALSALAMSUDAN 08Q2 profit Dh18m +87%
• AMAN 08Q2 profit Dh1.7m -82%
• AOIC 08Q2 profit Dh41m +29%
• Arabtec Silverene contract
• DAE buying $4bn planes
• DAE $1bn loan
• DU 08Q2 loss Dh-44m +84%
• EIC 08Q2 profit Dh29m -43%
• Emaar MGF IPO refund court case
• ETISALAT acquisitions
• GFH steel plants
• Insider trades July 2008
• NBAD 08Q2 profit Dh1bn +71%
• QCEM 08Q2 profit Dh81m +59%
• RAKNIC 08Q2 profit Dh8m -4%
• UIC 08Q2 profit Dh11m +8%
• Waha 08Q2 profit Dh37m +13%

More UAE stock market news and discussions...

best stock rises symbol price change TKFL 7.81 +0.70 +9.8% FBICO 4.36 +0.38 +9.5% FOODCO 5.64 +0.37 +7% RAKCEC 4.02 +0.20 +5.2% CBD 10.55 +0.50 +5%

worst stock falls symbol price change WARE 16.25 -2.85 -14.9% NBF 5.75 -0.63 -9.9% JEEMA 3.30 -0.17 -4.9% ALFIRDOUS 2.30 -0.10 -4.2% EKTTITAB 2.99 -0.11 -3.5%

top volume symbol value (AED) price EMAAR 348,322,762 10.60 SOROUH 275,953,355 9.47 AJMANBANK 167,539,808 3.34 METHAQ 158,683,960 7.77 AIRARABIA 134,909,960 1.65

Dubai Financial Market

The DFMGI fell 0.36% to 5438 from moderate turnover of AED 1.37 billion - less than yesterday. Emaar Properties (EMAAR) dominated the floor with AED 348 million worth and despite an initial gain, ended the day flat at AED 10.60. Another 3 stocks saw turnover of more than AED 100m - AJMANBANK down 0.9% to 3.34, AIRARABIA down 0.6% to 1.65, and DFM down 2.1% to 4.72.

GGICO stood out with a solid 4.6% gain to 8.36 and heavier than usual trading. Union Properties (UPP) was also popular and rose 2.2% to 5.66. Arabtec (ARTC) crept up by 1% and another 4 gainers rose less than 1% or on thin trading.

The top 4 losers all fell on trading of less than AED 200,000 each. AMAN insurance stood out with higher turnover and a 2.6% fall to 3.38 after releasing unimpressive results this morning. Most of the more actively traded stocks fell between 1-2% with another 3 falling less than 1%.

Abu Dhabi Securities Market

The ADX went the opposite way as the Dubai exchange, and gained 0.4% to close just over 5000 points at 5006. Sorouh Real Estate (SOROUH) was the dominant stock with AED 276m worth of trading and a solid 2.5% rise to 9.55. Two other stocks saw more than AED 100m of turnover - METHAQ up just 0.65%, and Aldar Properties (ALDAR) up 1.6% to 12.75 making it a good day for Abu Dhabi property stocks.

Of the top 9 gainers, only RAK Ceramics (RAKCEC) traded more than AED 1m worth as it gained 5.2% to 4.07. Sorouh was the only other stock trading significant volumes and rising more than 2%. NBS had a busier than usual day and rose 2% to 3.07, ADNH was up 1.9% to 8.00, Oasis Leasing (OILC) and National Bank of Abu Dhabi (NBAD) rose 1.2%, Dana Gas (DANA) was up 1.1%, and the remaining stocks rose less than 1% or on thin trading levels.

RAK Properties (RAKPROP) was the worst of the losers trading significant volumes, as it fell 2.0% to 1.90. No other losers fell more than 1% and with greater than AED 1 m of turnover. Etisalat (ETISALAT) dropped by 0.25% to 20.05.

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UAE markets 23 Jul 2008

UAE market news & discussions for 23 July 2008 A bumper day on the DFM today with the index climbing over 3% and the value of shares traded over 2 billion dirhams. All the main stocks were up including AJMANBANK, DFM and DIC up over 6% and AIRARABIA and EMAAR up over 5% all on strong volumes. The ADX index climbed 0.70% with the value of shares traded over one billion dirhams. Real estate stocks lead the way with ALDAR up 5%, RAKPROP up 3% and SOROUH up 3%. On the DIFX DEPA $1.33 down 1.48% on volume of 1.2 million shares traded DPW $0.80 up 1.27% on volume of 4.3 million shares traded. Results NMDC 2008 H1 profit, 124m up 38% from the pcp ARIG 2008 H1 profit, 42m down 38% from the pcp RAKPROP H1 profit, 225m down 18% from the pcp Sharewadi calendar Thursday, July 24 ARIG 08Q2 results due before ETISALAT 2008 25% interim dividend ex-dividend date NBAD BOD meeting, 08Q2 results? Agenda not supplied. SOROUH BOD meeting - 08Q2 results? Agenda not supplied. Saturday, July 26 All day SALAM BOD meeting - maybe 08Q2 results (disclosure not clear) Sunday, July 27 All day ETISALAT 2008 25% interim dividend record date GPI BOD meeting 08Q2 results this week? Agenda and date not supplied. IIG BOD meeting, agenda not supplied

• Waha 08Q2 results
• RAKBANK 08Q2 profit Dh170m +76%
• NMDC 08Q2 profit Dh89m +57%
• RAKPROP 08Q2 profit Dh110m -36%
• Marketwatch ADX DFM July 2008
• Dar Takaful IPO
• GGICO Horizon Bitumen products
• AWNIC 08Q2 profit Dh24m +115%
• ARIG 08Q2 profit Dh31m -23%
• ALDAR 2008 Q2 results due 29 July
• ABNIC S&P rating
• Etisalat Informa report
• ADCB Al Mal report
• ADCB Beltone research
• Emirates NBD Saudi
• Emirates NBD 08Q2 profit Dh1.5bn +45%
• ENBD 2008 Q1 profit AED 1.2bn +108% 30 Apr 2008
• CBD Moody's rating
• MENA shipping outlook
• RAK Properties
• EMAAR accounting standards
• Emaar Economic City 08Q2 loss $11m
• TAMWEEL 08Q2 profit Dh210m +266%
• Emarat Emirates Takaful IPO
• DIC - A Good buy? - analysis

More UAE stock market news and discussions...

best stock rises symbol price change ALSALAMSUDAN 5.00 +0.50 +11.1% UNION 4.51 +0.41 +10% AJMANBANK 3.37 +0.21 +6.6% DFM 4.82 +0.29 +6.4% DIC 3.95 +0.23 +6.2%

worst stock falls symbol price change FBICO 3.98 -0.44 -10% TKFL 7.11 -0.62 -8% SCIDC 5.11 -0.33 -6.1% GMPC 3.53 -0.22 -5.9% NBQ 6.10 -0.20 -3.2%

top volume symbol value (AED) price EMAAR 443,008,940 10.60 AJMANBANK 356,671,153 3.37 ALDAR 235,357,088 12.55 DFM 216,938,443 4.82 METHAQ 199,737,487 7.72

Dubai Financial Market

The DFM index closed at 5,457 a rise of 3.02% from the previous close. 536 million shares were traded worth 2 billion dirhams. Twenty six shares advanced and two declined.
The top traded share by volume was AIRARABIA rising 5.73% to 1.66 dirhams on turnover of 113 million shares. Emaar Properties (EMAAR) topped the trading by value rising 5.47% to 10.60 dirhams with over 400 million dirhams worth of trading.

Other shares to rise included: AJMANBANK 3.37 (6.64%), DEYAAR 2.13 (4.41%), DFM 4.82 (6.40%), Dubai Investments (DIC) 3.95 (6.18%), GULFNAV 1.72 (3.61%), Islamic Arab Insurance (IAIC) 2.93 (4.27%) and Union Properties (UPP) 5.54 (3.94%).

Emirates NBD (ENBD) 11.80 (0.84%) was the only share to fall on significant volume.

Abu Dhabi Securities Market

The ADX index closed at 4,984 a rise of 0.70% from the previous close. 215 million shares were traded worth 1.2 billion dirhams. Twenty nine shares advanced and fourteen declined.
The top traded share was Dana Gas (DANA) rising 2.22% to 1.84 dirhams on turnover of 30 million shares.

Other shares to rise included: Union National Bank (UNB) 9.39 (1.62%), Aldar Properties (ALDAR) 12.55 (5.02%), RAK Properties (RAKPROP) 1.96 (3.16%), Sorouh Real Estate (SOROUH) 9.24 (3.24%), Aabar Petroleum (AABAR) 4.61 (1.10%), METHAQ 7.72 (0.78%).

Shares to fall included: First Gulf Bank (FGB) 27.80 (0.54%), ADNH 7.95 (1.61%), ARKAN 6.49 (1.96%)

Etisalat (ETISALAT) closed steady on 20.00 dirhams.

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UAE markets 22 Jul 2008

UAE market news & discussions for 22 July 2008 The DFM index continued its climb today closing 0.18% up, largely on the back of a 7.60% jump in ARTC shares. However the value of shares traded continues to be under the one billion dirham level. EMAAR closed flat at 10.05 dirhams. The ADX index closed down 0.29% again with the value of shares traded under the one billion dirham level. The top traded share was ARKAN rising 2.00% on the day the results were released. On the DIFX, DPW $.79, DAMAS $1.02 and DEPA $1.35 all closed unchanged. Results ARKAN 2008 H1 profit 128m, up 48% from pcp ENBD 2008 H1 profit 2,648m up 121% from pcp GFH 2008 H1 profit 809m up 51% from pcp TAMWEEL 2008 H1 profit 387m up 259% from pcp UNB 2008 H1 profit 760m up 41% from pcp Sharewadi Calendar Wednesday, July 23 ETISALAT 2008 25% interim dividend last trading day for eligibility 2:00pm OILC BOD meeting O8Q2 results 5:00pm UIC BOD meeting agenda not supplied Thursday, July 24 ARIG 08Q2 results due before today ETISALAT 2008 25% interim dividend ex-dividend NBAD BOD meeting, 08Q2 results? Agenda not supplied. SOROUH BOD meeting - 08Q2 results? Agenda not supplied. Saturday, July 26 SALAM BOD meeting - maybe 08Q2 results (disclosure not clear)

• ETISALAT credit ratings
• Marketwatch ADX DFM July 2008
• UNB 08Q2 profit Dh420m +49%
• AGTHIA 2008Q2 results due 29 July
• Amlak Jordan established
• Noor Bank Maldives
• DEPA Marina Bay Singapore
• Emirates NBD 08Q2 profit Dh1.5bn +45%
• Drake & Scull buying GCC companies
• Limitless / Minerva / Northace
• ARKAN 08Q2 profit Dh110m +128%
• NGI 08Q2 profit Dh15m -53%
• GFH 08Q2 profit Dh380m +41%
• ALSALAMSUDAN 08Q2 profit Dh18m +87%
• TAMWEEL 08Q2 profit Dh210m +266%
• DP World Merrill Lynch rating
• EMAAR 08Q2 profit Dh1.56bn +7%
• Emaar Economic City 08Q2 loss $11m
• Arabtec Engineering contracts
• Trading Air Arabia
• FGB convertible bond
• Any Stock which can get 20-25% profit by Year End..?
• Drake Scull oversubscription
• Khoie IPO
• Drake Scull IPO

More UAE stock market news and discussions...

best stock rises symbol price change ARTC 19.10 +1.35 +7.6% OEIHC 3.80 +0.15 +4.1% RAKCEC 3.93 +0.14 +3.7% GFH 15.00 +0.50 +3.4% SCIDC 5.44 +0.15 +2.8%

worst stock falls symbol price change AKIC 2.49 -0.19 -7.1% UNION 4.10 -0.29 -6.6% NBF 6.13 -0.40 -6.1% DRIVE 7.20 -0.40 -5.3% ADAVIATION 4.73 -0.26 -5.2%

top volume symbol value (AED) price ARKAN 182,416,834 6.62 ALDAR 155,841,314 11.95 EMAAR 123,618,141 10.05 ETISALAT 91,333,761 20.00 ARTC 90,582,635 19.10

Dubai Financial Market

The DFM index closed at 5,296 a rise of 0.18% from the previous close. 169 million shares were traded worth 812 million dirhams. Six shares advanced and sixteen declined.
The top traded share was AIRARABIA falling 0.63% to 1.57 dirhams on turnover of 27 million shares.

Other shares to fall included: AJMANBANK 3.16 (2.76%), DEYAAR 2.04 (0.97%), DFM 4.53 (1.94%), TAKAFUL-EM 4.19 (0.71%) and Tamweel (TAMWEEL) 8.20 (0.60%).

Shares to rise included: Arabtec (ARTC) 19.10 (7.60%), Dubai Islamic Bank (DIB) 8.07 (0.87%), GULFNAV 1.66 (1.84%) and Union Properties (UPP) 5.33 (0.56%).

Emaar Properties (EMAAR) closed steady at 10.05 dirhams.

Abu Dhabi Securities Market

The ADX index closed at 4,950 a fall of 0.29% from the previous close. 132 million shares were traded worth 829 million dirhams. Thirteen shares advanced and twenty seven declined.
The top traded share was ARKAN rising 2.00% to 6.62 dirham on turnover of 27 million shares.

Other shares to rise included: Aldar Properties (ALDAR) 11.95 (1.27%), Sorouh Real Estate (SOROUH) 8.95 (1.59%), Aabar Petroleum (AABAR) 4.56 (1.79%) and ARKAN 6.62 (2.00%).

Shares to fall included: Union National Bank (UNB) 9.24 (0.43%), Dana Gas (DANA) 1.80 (1.10%), AGTHIA 2.64 (1.86%), METHAQ 7.66 (1.66%) and Etisalat (ETISALAT) 20.00 (0.25%).

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• Discuss UAE companies at Dubai Share Talk.