UAE markets 26 Feb 2009

UAE market news & discussions for 26 February 2009 Continuing yesterday's theme, Abu Dhabi was in the green by 1.6% to 2376 points despite most stocks falling but low turnover of AED 131m from 66m shares. Dubai saw red to the tune of 0.6% to 1559 despite most stocks rising, from lower trading yet again, of AED 460m from 354m shares. An interesting day, illustrating how one or two stocks can have a contrary effect on the market index. Etisalat, the heavyweight by market cap in Abu Dhabi dragged the index up, while the less active but large Mashreq Bank and Emirates NBD dragged the Dubai index down. On the Nasdaq Dubai, DP World and Depa are unchanged at $0.20 and $0.43 respectively. Boulder Steel plummeted 40% to $0.03. It only has to fall another three cents and then their shares are free. UAE oil supply cuts have prompted a rise in the oil price to over $43 per barrel. Reuters reported that Aldar, Sorouh and Al Maabar (unlisted) were forming a joint venture to spend a mammoth AED 40 bn on a project at Aqaba in Jordan. Aldar and Sorouh did not disclose any information to the stock market website. However, the ADX did tell us they'd be closing their Marina Mall branch at the end of June this year. Reuters also reported that the UAE Government were not releasing an IMF report on the state of the economy in 2008, which could prompt heavy coffee consumption and a limit up evening on the Dubai Gossip Market (DGM). Invest Bank (Sharjah) and Sharjah Insurance Company reported 2008 FY results today. The Nasdaq Dubai is having a conference call on their 2008 results this evening. The sharewadi calendar is being updated with a number of AGM dates announced today. European stocks are up, Asian stocks were down, and US stock futures are up. UAE fourth quarter results - table of financial results so far, with dividend and AGM information UAE financial news - latest news from Reuters, Bloomberg and UAE media Sharewadi calendar - important dates Dubai Financial Market Dubai Financial Market (DFM) and Arabtec (ARTC) shares dominated trading in Dubai yet again, although heading in opposite directions - up 3.3% and down 3.8% respectively. Emaar Properties (EMAAR) turnover was well down with only AED 38m worth traded and a slight 0.49% rise to 2.06. Most of the remaining actively traded stocks were up by less than 2% or unchanged, except for Emirates Integrated Telecommunications (DU) with a better 2.5% rise. Al Sagr National Insurance (ASNIC) jumped 4.7% from yet more insider selling. Mashreq Bank (MASQ) was 5% limit down, Emirates NBD (ENBD) 3.5% down, and Shuaa Capital (SHUAA) and Ajman Islamic Bank (AJMANBANK) fell about 2.1%. Abu Dhabi Securities Exchange Arkan Building Materials (ARKAN) was the most heavily traded stock in Abu Dhabi today with a 3.8% rise to 7.52 but it was Emirates Telecom (ETISALAT) that really stood out, taking second spot on the traded value table, and trading at 10% limit up at 12.00 by the end of the session with no sellers in the queue. Abu Dhabi National Energy (TAQA) took number three spot on turnover and also had a good rise, of 4.1%. Waha Capital (OILC) was the only other gainer of note, up 5%. Ras Al Khaimah Cement (RAKCC) stood out in the losers list with 10% limit down trading, but that was presumably due to adjustment for shares going ex-dividend today. First Gulf Bank (FGB) was a not quite so sore loser with a 4.1% fall, Sorouh Real Estate (SOROUH) fell 2.6%, Aldar Properties (ALDAR) fell 2.1%, and most other stocks fell less than 3%.

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
DFM results due 02 March 2009 utopia02 Thu 26 Feb 2009 16:42 ADX Marina Mall closing sharewadi Thu 26 Feb 2009 16:18 Aldar Sorouh Aqaba development sharewadi Thu 26 Feb 2009 16:06 Arabtec Prime report Cash King Thu 26 Feb 2009 15:52 UPP EFG report 2008Q4 sharewadi Thu 26 Feb 2009 15:44 DIB EFG report 2008FY sharewadi Thu 26 Feb 2009 15:18 NBAD EFG report 2008Q4 sharewadi Thu 26 Feb 2009 14:48 UAE IMF report not public sharewadi Thu 26 Feb 2009 14:33 UPP 2008Q4 loss AED38m limitup Thu 26 Feb 2009 12:23 UPP to distribute 0.25 per share? sam111sam Thu 26 Feb 2009 09:37 Arabtec Major Shareholders! spin Thu 26 Feb 2009 09:37 Marketwatch ADX DFM February 2009 bandakok Thu 26 Feb 2009 09:03 DIB 2008Q4 earnings AED0.0bn, -100% khurrammts Wed 25 Feb 2009 17:48 Dubai To Don't Buy rmhumr Wed 25 Feb 2009 13:07 Dubai $20-bn bonds sharewadi Wed 25 Feb 2009 09:56 Waha UAE military loan AED11bn Bimcnorth Wed 25 Feb 2009 03:17 DPW Big trade? Bimcnorth Tue 24 Feb 2009 23:57

best stock rises symbol price change JULPHAR 1.32 +0.12 +10% FOODCO 2.58 +0.23 +9.8% ETISALAT 11.65 +0.70 +6.4% OILC 0.63 +0.03 +5% CBD 3.74 +0.17 +4.8%

worst stock falls symbol price change NBQ 4.01 -0.44 -9.9% RAKCC 1.29 -0.14 -9.8% OEIHC 1.42 -0.15 -9.6% FH 4.46 -0.41 -8.4% DARTAKAFUL 1.17 -0.09 -7.1%

top volume symbol value (AED) price DFM 181,707,110 1.24 ARTC 148,241,249 1.53 EMAAR 37,677,308 2.06 ARKAN 33,498,188 7.72 ETISALAT 24,996,454 11.65

• Comment on this report and view previous reports on the Share Wadi blog.
• Discuss UAE companies at Dubai Share Talk.

UAE markets 25 Feb 2009

UAE market news & discussions for 25 February 2009 Abu Dhabi was almost unchanged at 2339 points with a rise of less than 1 point, and turnover sharply lower at AED 115m from 78m shares. Dubai continued falling from yesterday, down another 1.4% to 1568 points with turnover much lower at AED 630m from 443m shares. On the Nasdaq Dubai as of 14:30, DP World is unchanged at $0.20, Depa is down 2.3% to $0.43, and Boulder Steel has plummeted 25%, or edged down by $0.01 ... to $0.03 but from just one trade. There was a small trade in Emaar derivatives, up 1.4% to AED 2.14. In international markets, Asian and European stocks are up today after broad falls yesterday. Reuters reported that the Dubai Government Bond annouced earlier this week would not be asset backed. So it looks like rumours of Abu Dhabi taking over Emirates Airlines and other Dubai assets remain in the rumour tray. The Dubai airport reported an increase in passenger traffic for January 2009 compared to 12 months previously. January 2009 traffic was about 3.3 million passengers, including a slight increase in foreign journalists taking bus tours and muttering "ghost town, ghost town ...". Average monthly traffic in 2008 was just over 3 million passengers, maximum was slightly higher than last months total, at 3.36 million in August 2008. Dubai Islamic Bank released FY results late yesterday with an implied Q4 result of approximately zero earnings. Insufficient information was supplied to calculate if they made a loss or profit for the quarter. DIB shares rose 10.7% to AED 2.07 on robust trading, perhaps prompted by a generous cash dividend proposal. RAK Cement shares go ex-dividend tomorrow. Union Properties announced FY profits today with an implied loss of AED 38 million for Q4 (Q4 figures were not supplied). The BOD proposed a 10% share dividend. UPP shares started off well but fell throughout the day and closed 2.6% down at AED 0.76. Waha capital is arranging an AED 11 billion loan for the UAE military. Waha shares were 10% limit up with no sellers at the end of trading today. BOD meetings this afternoon include Aramex and Arkan Building Materials. BOD meetings tomorrow include Deyaar and Sudan Telecom. AGMs today for First Gulf Bank and Waha Capital UAE fourth quarter results - table of financial results so far, with dividend and AGM information UAE financial news - latest news from Reuters, Bloomberg and UAE media Sharewadi calendar - important dates Dubai Financial Market Arabtec (ARTC) and Dubai Financial Market (DFM) were the most heavily traded stocks and both closed 10% limit down. Dubai Islamic Bank (DIB) saw good gains after their results announcement yesterday and Emaar Properties (EMAAR) fell only 2.4%. Most other actively traded stocks fell between 2% and 5%. The short list of gainers included 5% limit up trading for Emirates Integrated Telecommunications (DU), a 4.7% rise for insider trading in Al Sagr National Insurance (ASNIC), and a 2.8% rise for Emarat Takaful Insurance (TAKAFUL-EM). Abu Dhabi Securities Exchange Abu Dhabi National Energy (TAQA) continued its upward trend with a rise of 7.4%, the best gain of the more actively traded stocks, and second spot on the traded value table. The only other actively traded gainers were Waha Capital (OILC) limit up, and Bank of Sharjah (BOS) with a 6.5% rise. Aldar Properties (ALDAR) was the most heavily traded stock by value and fell 0.8%, Sorouh Real Estate (SOROUH) was down 2.5% and Ras Al Khaimah Cement (RAKCC) continued to be fairly active with a 2.7% fall. Emirates Telecom (ETISALAT) pulled back slightly from yesterday's good gains, with a 0.9% drop. Other actively traded losers included Aabar Energy (AABAR) down 5.85%, Finance House (FH) down 1.6% and National Bank of Abu Dhabi (NBAD) down just 0.5%.

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 ADX DFM February 2009 limitup Wed 25 Feb 2009 14:49 Dubai To Don't Buy rmhumr Wed 25 Feb 2009 13:07 UPP to distribute 0.25 per share? 3973abl Wed 25 Feb 2009 10:59 DIB 2008Q4 earnings AED0.0bn, -100% rmhumr Wed 25 Feb 2009 10:34 UPP 2008Q4 loss AED38m sharewadi Wed 25 Feb 2009 09:58 Dubai $20-bn bonds sharewadi Wed 25 Feb 2009 09:56 Arabtec Prime report sharewadi Wed 25 Feb 2009 09:37 Waha UAE military loan AED11bn Bimcnorth Wed 25 Feb 2009 03:17 DPW Big trade? Bimcnorth Tue 24 Feb 2009 23:57 Nasdaq Dubai opening hours change sharewadi Tue 24 Feb 2009 20:25 DFM Stock Game 2008? sharehunk Tue 24 Feb 2009 20:11 NBF 2008 loss? sharewadi Tue 24 Feb 2009 14:45 Depa Mazagan Morocco sharewadi Tue 24 Feb 2009 13:34 Etisalat dividends 2008 sharewadi Tue 24 Feb 2009 10:52 Dubai bond EFG report Bimcnorth Tue 24 Feb 2009 02:43 UAE merger possibilities Bimcnorth Mon 23 Feb 2009 23:11 BOS 2008Q4 profit Dh69m -56% khurrammts Mon 23 Feb 2009 18:03

best stock rises symbol price change GLOBAL 2.39 +0.26 +12.2% DIB 2.07 +0.20 +10.7% DRIVE 3.54 +0.32 +9.9% TKFL 7.02 +0.63 +9.9% TAQA 1.45 +0.10 +7.4%

worst stock falls symbol price change DFM 1.20 -0.13 -9.8% OEIHC 1.57 -0.17 -9.8% ARTC 1.59 -0.17 -9.7% ALSALAMSUDAN 1.33 -0.14 -9.5% GGICO 2.41 -0.25 -9.4%

top volume symbol value (AED) price DFM 219,383,970 1.20 ARTC 123,204,506 1.59 DIB 98,686,525 2.07 EMAAR 91,835,867 2.05 AIRARABIA 24,936,354 0.95

• Comment on this report and view previous reports on the Share Wadi blog.
• Discuss UAE companies at Dubai Share Talk.

UAE markets 24 Feb 2009

UAE market news & discussions for 24 February 2009 Abu Dhabi had a much better day than Dubai with a 1.7% rise to 2339 points with turnover of AED 237m from 133m shares. The DFM gave up half the impressive gain yesterday, falling 3.8% to 1590 points with turnover still robust at a little over AED 1 billion from 780m shares traded. On the Nasdaq Dubai, DP World is down 12.5% to $0.21, and Depa unchanged at $0.44. Asian and European stocks are down but US stock futures are up today. Prime Securities released a report on Arabtec shares yesterday, rating them a buy. Depa Limited's Moroccan subsidiary was awarded a contract worth AED 183 million. Etisalat's BOD proposed a 35% cash dividend for 2008 H2, and a 10% share dividend Bildco shareholders approved a 20% cash dividend in yesterday's AGM (not confirmed) National Bank of Fujairah announced 08FY results and buried the figure for the loss in a four-page press release. The NBF CEO resigned in November 2008, a little over a week after NBF announced an 87 million dirham loss for the third quarter. Shuaa released their Vision 2009 statement with comments on industry sectors and individual companies. Shuaa's vision was a bit blurry in 2008 - they lost almost 1 billion dirhams. Taqa Energy started buying back shares - almost 5 million today. Full year results may be seen later today for Dubai Islamic Bank and Union Properties. AGMs tomorrow include Waha Capital and First Gulf Bank. Board meetings tomorrow include Arkan Building Materials and Aramex. Tomorrow is the last trading day to be eligible for RAK Cement dividends. UAE fourth quarter results - table of financial results so far, with dividend and AGM information UAE financial news - latest news from Reuters, Bloomberg and UAE media Sharewadi calendar - important dates Dubai Financial Market Dubai Financial Market (DFM), Arabtec (ARTC), Emaar Properties (EMAAR). and Air Arabia (AIRARABIA) dominated trading again, with Dfm and Arabtec both 10% limit down, Air Arabia with a 6.9% fall, and Emaar only down by 3.2%. Most other stocks saw falls of more than 5%. There were only 6 gainers, and only Al Sagr National Insurance (ASNIC), up 3.9%, and Al Salam Bank (SALAM_BAH), up 1.1%, rose on turnover of more than AED 1m. Abu Dhabi Securities Exchange Emirates Telecom (ETISALAT) with a 7.3% increase to 10.80 on heavy trading helped drag the index up after its dividend news, and Abu Dhabi National Energy (TAQA) saw 10% limit up trading as they bought back their own shares. Bank of Sharjah (BOS) was also limit up with greater than usual trading activity. RAK Cement continued its climb, taking number 3 spot by traded value, ahead of shares going ex-dividend on Thursday. Aldar Properties (ALDAR) and Sorouh Real Estate (SOROUH) were the most heavily traded stocks but saw small falls of 1.2% and 0.4% respectively. National Bank of Abu Dhabi (NBAD) fell 3.5% but from 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
NBF 2008 loss? sharewadi Tue 24 Feb 2009 14:45 Arabtec Prime report spin Tue 24 Feb 2009 14:30 Shuaa UAE Vision 2009 Fran Tue 24 Feb 2009 14:18 Depa Mazagan Morocco sharewadi Tue 24 Feb 2009 13:34 Marketwatch ADX DFM February 2009 adeelakhtar Tue 24 Feb 2009 13:12 Etisalat dividends 2008 sharewadi Tue 24 Feb 2009 10:52 DFM Stock Game 2008? rmhumr Tue 24 Feb 2009 08:25 Dubai bond EFG report Bimcnorth Tue 24 Feb 2009 02:43 UAE merger possibilities Bimcnorth Mon 23 Feb 2009 23:11 BOS 2008Q4 profit Dh69m -56% khurrammts Mon 23 Feb 2009 18:03 Dubai government bonds sharewadi Mon 23 Feb 2009 16:23 John Laing Homes bankrupt Foxy Mon 23 Feb 2009 14:00 ADX Reuters investor relations sharewadi Mon 23 Feb 2009 12:35 DFM stock game sharewadi Mon 23 Feb 2009 11:31 Dana Azhar Egypt sharewadi Mon 23 Feb 2009 11:17 Dubai property sales increasing Fran Mon 23 Feb 2009 10:07 Sharjah property no foreign ownership Fran Mon 23 Feb 2009 09:08

best stock rises symbol price change BOS 1.54 +0.14 +10% ASMAK 28.95 +2.60 +9.9% TAQA 1.35 +0.11 +8.9% ETISALAT 11.05 +0.75 +7.3% GGICO 2.66 +0.18 +7.3%

worst stock falls symbol price change FH 4.95 -0.54 -9.8% ARTC 1.76 -0.19 -9.7% DFM 1.33 -0.14 -9.5% SHUAA 0.91 -0.09 -9% IAIC 0.62 -0.06 -8.8%

top volume symbol value (AED) price DFM 325,618,720 1.33 ARTC 246,713,243 1.76 EMAAR 230,765,152 2.10 AIRARABIA 105,067,686 0.95 ALDAR 64,388,301 2.43

• Comment on this report and view previous reports on the Share Wadi blog.
• Discuss UAE companies at Dubai Share Talk.