UAE markets 15 Jan 2009

UAE market news & discussions for 15 January 2009 The ADX fell 2.8% to 2385 points on low turnover of AED 77 million from 37m shares. The DFM index fell 3.2% to 1643 on turnover of AED 209 million from 158m shares. On the Nasdaq Dubai, DP World is down 8.8% to $0.31, and Depa is down 6.9% to $0.54 as of 1430 UAE time. Asian and European stocks are down, as are US stock futures ahead of earnings reports from CitiGroup and JP Morgan. The Dubai rent index for commercial property was released today, prompting less than encouraging comments from many observers, and the residential rental index is expected in a couple of weeks. Syria was reported by Reuters as considering allowing foreigners to own majority stakes in Syrian companies. Might GCC countries be mulling over a similar idea to try and boost the local markets? Sorouh said to Emirates Business they had no liquidity crunch because before the financial crisis started they'd borrowed enough money to finish their projects. We're still struggling to understand the justification. Methaq Insurance released preliminary financial results which indicated, by our calculations, that they earnt almost nothing for the fourth quarter. At least they didn't make a loss. Their shares still fell 7.1% today. UAE financial news - latest news from Reuters, Bloomberg and UAE media Sharewadi calendar - important dates Dubai Financial Market No stocks in Dubai saw more than AED 100m worth of trading today. Emaar Properties (EMAAR) was the top of the turnover list with AED 70m worth, and plunged 7.3% to 2.17. There were only 2 gainers, Gulf General Investment (GGICO) up 5.7% to 4.45, and one small trade up 1.1% for Al Salam Bank (SALAM_BAH). The loser's list was topped by Arabtec (ARTC), TAKFUL-EM, and Shuaa Capital (SHUAA) all 10% limit down with no buyers at the end of the day. Dubai Financial Market (DFM), National General Cooling (TABREED), and Union Properties (UPP) all fell more than 5%, and the remaining losers fell between 1% and 5%. Abu Dhabi Securities Exchange Aldar Properties (ALDAR) and Sorouh Real Estate (SOROUH) were the only stocks trading more than AED 10 million in Abu Dhabi today, Aldar 10% limit down to 3.44 with no waiting buyers, and Sorouh Real Estate (SOROUH) down 9.6% to 2.93. There were only 4 gainers, and only Arkan Building Materials (ARKAN) traded more than AED 1m worth as it rose 3.4% to 6.42. In the loser's list, Ras Al Khaimah Cement (RAKCC) joined Aldar with limit down trading, National Bank of Abu Dhabi (NBAD) fell 7.6% to 8.50; Abu Dhabi Commercial Bank (ADCB), Aabar Energy (AABAR), Abu Dhabi National Energy (TAQA), Union National Bank (UNB), and Methaq Islamic Insurance (METHAQ) also fell more than 7%; Abu Dhabi Islamic Bank (ADIB) was down 6.1%, Waha Capital (OILC) 5%, and ther remainder fell less than 5% or on low turnover. Emirates Telecom (ETISALAT) was relatively unscathed with just a 1.4% fall to 10.80.

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	Latest posts and topics (click timestamp for last post)	Last Post By	Last Post Date
Marketwatch ADX DFM January 2009 rmhumr Thu 15 Jan 2009 14:39 Arabtec bankrupt? sammy Thu 15 Jan 2009 14:34 Arabtec forecast to weather the storm sharewadi Thu 15 Jan 2009 13:49 NMDC ICVL India JV sharewadi Thu 15 Jan 2009 13:37 Dubai rent index Fran Thu 15 Jan 2009 12:06 First Gulf Bank Qatar Fran Thu 15 Jan 2009 11:52 METHAQ 2008Q4 profit Dh0.2m sharewadi Thu 15 Jan 2009 11:05 Aabar UniCredit Italy investment sharewadi Thu 15 Jan 2009 10:36 Abyaar bankrupt? sharewadi Thu 15 Jan 2009 10:14 ETISALAT Iran mobile licence sharewadi Thu 15 Jan 2009 02:01 DP World day trading and valuation sharewadi Thu 15 Jan 2009 01:31 Gulf Nav 2008 Q4 profit forecast sterling Wed 14 Jan 2009 23:06 Esdarat IPO sharewadi Wed 14 Jan 2009 22:53 Nakheel Tower delay Fran Wed 14 Jan 2009 19:59 Arabtec Meydan cancelled sharewadi Wed 14 Jan 2009 17:34 Beltone Arabtec report sharewadi Wed 14 Jan 2009 17:26 Dubai rent cap 2009 sam111sam Wed 14 Jan 2009 17:01

best stock rises symbol price change GGICO 4.45 +0.24 +5.7% AKIC 0.97 +0.04 +4.3% ARKAN 6.05 +0.20 +3.4% BOS 1.57 +0.04 +2.6% ADNH 3.53 +0.07 +2%

worst stock falls symbol price change RAKCC 1.09 -0.12 -9.9% TAKAFUL-EM 1.09 -0.12 -9.9% SHUAA 1.11 -0.12 -9.8% ALDAR 3.45 -0.37 -9.7% ARTC 1.50 -0.16 -9.6%

top volume symbol value (AED) price EMAAR 70,701,102 2.17 DFM 35,235,960 1.19 ARTC 32,638,422 1.50 ALDAR 27,295,465 3.45 SOROUH 12,914,778 2.93

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