UAE markets 30 Nov 2009

UAE market news & discussions for 30 November 2009 As many investors feared, the UAE markets tanked horrendously when they reopened after the Eid break, after statements last week that were interpreted as indicating a debt default was a possibility for Nakheel and Dubai World. On Friday, WAM, the official UAE news agency, reported that the bloodbath was apparently expected when they said that "The Government is spearheading the restructuring of this commercial operation in the full knowledge of how the markets would react." The same news release also said that "Further information will be made available early next week." Obviously, whatever that information was, it wasn't enough to reassure UAE investors when the stock markets opened today. Almost all traded stocks on the DFM and ADX hit the 10% limit down price with very few investors interested in buying. Volumes were low as a result of the lack of interest, and it looks likely that there will be more heavy falls tomorrow, if not a limit down day again, for most stocks. UAE financial news - latest news from Reuters, Bloomberg and UAE media Dubai Financial Market The Dubai Financial Market (DFM) fell 7.3% to 1940 points from just 37m worth of trading, a tiny amount, but unsurprising given that every traded stock bar one, closed 5% or 10% limit down with no buyers queuing up. The lone stock with buyer interest at close was Dubai National Insurance & Reinsurance (DNIR). Abu Dhabi Securities Exchange Abu Dhabi plunged by 8.3% to 2668 points from 117m worth of trades. Emirates Telecom (ETISALAT) and National Bank of Abu Dhabi (NBAD) were included in the list of limit down stocks, even though National Bank of Abu Dhabi (NBAD) was one of the few banks to actually take the opportunity to show that there is more than just talk of investor relations in the UAE - they released figures to show the extent of their loan exposure to Dubai World. Given that they won a recent award for investor relations, it would have been embarrassing if they hadn't. Two other banks released statements - CBI said they had no exposure, and FGB said their exposure wasn't what the media said it was but didn't tell us what it was anyway. The only gainer was Abu Dhabi National Building Materials (BILDCO), up just 1% from a single trade. The least bad loser was Ras Al Khaimah White Cement (RAKWCT), down 5.15% to 0.92.

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 November 2009 thajuddeen Mon 30 Nov 2009 15:32 GGICO 2009Q3 results thajuddeen Mon 30 Nov 2009 14:27 Dubai World Nakheel bond delay GPIC Mon 30 Nov 2009 13:26 Gold Trading fayesloan Mon 30 Nov 2009 13:17 Dec may become the best month in 2009 ? sam111sam Mon 30 Nov 2009 13:04 EMAAR trend analysis Krazy Guy Mon 30 Nov 2009 12:20 NBAD exposure to Dubai World Krazy Guy Mon 30 Nov 2009 11:52 What to buy or do on 30 Nov 2009 sammy Mon 30 Nov 2009 10:45 Al Madina Finance shares limit down nothing Mon 30 Nov 2009 10:05 where does the money go? UmbrellaCorp Mon 30 Nov 2009 01:35 Arkan research shares queen Sun 29 Nov 2009 19:34 UAE macroeconomic outlook sharewadi Sun 29 Nov 2009 17:13 Carbon emissions trading Dubai fayesloan Sun 29 Nov 2009 03:02 DFM stock portfolio for new investor fayesloan Sun 29 Nov 2009 02:25 Trading outside market hours in UAE? sharewadi Thu 26 Nov 2009 23:13 DAMAS Priced at 0.371 Cents on Bloomberg sm2000 Thu 26 Nov 2009 16:16 Gulf Finance House rights issue Foreigner Wed 25 Nov 2009 19:40

best stock rises symbol price change BILDCO 2.12 +0.02 +1%

worst stock falls symbol price change SHUAA 1.53 -0.17 -10% NMDC 8.01 -0.89 -10% UNB 3.33 -0.37 -10% GULFNAV 0.63 -0.07 -10% NBS 0.90 -0.10 -10%

top volume symbol value (AED) price ETISALAT 41,754,812 10.20 NBAD 33,049,154 12.10 AGTHIA 13,514,555 1.71 ARTC 7,831,471 2.77 ALDAR 7,264,535 4.96

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