ALDAR profits up 17 Jan 07

UAE market news & discussions for Wednesday 17 January 2007 AABAR awarded Karana & Sibaru oil concessions, Indonesia - PR 17 Jan 2007 ALDAR 2006 FY results - BOD meeting 16 Jan 2007(changed) - 10 Jan 2007 AMLAK (Neutral), TAMWEEL (Buy), UAE Property report from EFG - 12 Jan 2007 DFM General Meeting 16 Jan 2006, listing date unknown - PR 17 Jan 2007 EMAAR - Burj Dubai up to 100 floors & 350 meters - PR 17 Jan 2007 GLOBAL report says GCC stocks up 25% in 2007 - KT 16 Jan 2007 NBD trading extraordinarily high volume, BOD change - 17 Jan 2007 NBS/SIB 2006 FY profits AED 200m - BOD meeting 16 Jan 2007 ESCA reminds companies of accounts deadline - KT 17 Jan 2006 TAQA buys Talisman Energy rights in North Sea oilfield - PR 17 Jan 2007 UAE Banks - booming says Standard Chartered report - PR 17 Jan 2007 UAE ranks only average on Economic Freedom index - PR 16 Jan 2007 UPP - EFG report says BUY - LT fair value 4.49 dhs - 15 Jan 2007 More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report Wednesday 17 January 2007

top stock rises symbol price change NCTH 4.51 +0.40 +9.7% CBI 2.85 +0.24 +9.2% EBI 12.70 +0.60 +5% NBAD 23.60 +0.75 +3.3% ADSB 2.95 +0.06 +2.1%

top stock falls symbol price change UAB 7.20 -0.80 -10% NBF 4.50 -0.45 -9.1% ADAVIATION 2.03 -0.12 -5.6% CBD 7.00 -0.25 -3.4% TKFL 3.24 -0.10 -3%

top volume symbol value (AED) price EMAAR 230,347,626 12.40 NBD 41,400,748 9.00 DIC 30,824,385 4.40 AMLAK 14,392,044 5.10 DIB 14,369,325 8.19

Both an interesting and yet a very subdued day on the markets. DFM very slightly down, by 0.3% to 4089 points while ADSM was up by the same amount to 2986 points. Trading volume for both markets was down, 83m dhs for ADSM and 364m dhs for DFM with National Bank of Dubai (NBD) the only stock trading unusually high volumes once again - perhaps related to the departure of one of the Board of Directors announced today. First results trickling out while the ESCA is reported in the press today as prodding listed companies to hurry up and release financial statements.

NBS released an underwhelming 8% increase over 2005 profits, while Aldar Properties PJSC (ALDAR) pulled a rocket out of the bag with its 270% profit increase from 2005. As of December 2006, foreigners could buy Aldar Properties PJSC (ALDAR) shares. All of a sudden they're looking remarkably cheap with a PE of only 4 or so.

A couple of other newsworthy items today. Abu Dhabi National Energy Company (TAQA) bought AED 2 billion worth of Talisman Energy's assets, Aabar Petroleum Investments Company PJSC (AABAR) picked up a couple of Indonesion oil concessions, and EFG-Hermes released a report giving a BUY rating for Union Properties PJSC (UPP).

Dubai Financial Market

DFM muddled about between 4090 and 4115 today with very little of any interest in terms of trading. Emaar Properties PJSC (EMAAR) as usual responsible for the bulk of trading, National Bank of Dubai (NBD) with its 40m dhs worth a surprising second place on volume again (but no change in price at 9.00 dhs). Dubai Investments PJSC (DIC) still going strong with 31m dhs worth traded on a small fall of 0.7%.

All of the actively traded shares fell less than 1% except for Shuaa Capital PJSC (SHUAA) with its 1.3% fall from very thin trading (only 7 deals). Commercial Bank of Dubai (CBD) had the biggest drop of 3.4% but from only 2 trades. Emirates Bank International Group (EBI) had the biggest rise of 5% from just one deal, and AMAN was the only other stock on DFM to increase.

Abu Dhabi Securities Market

Of the stocks in the green today, National Bank of Abu Dhabi (NBAD) with its 3.3% rise to 23.60, and First Gulf Bank (FGB) with a 1.6% rise stood out today - both on heavier volumes. National Bank of Abu Dhabi (NBAD) in particular seems to be slowly but steadily on the way up. Biggest rises NCTH and Commercial Bank International (CBI) of close to 10% from very few trades. Most of the busier stocks traded flat or up slightly, by less than 1%, today with the highest volumes from Aabar Petroleum Investments Company PJSC (AABAR), Abu Dhabi Commercial Bank (ADCB), Dana Gas PJSC (DANA), Emirates Telecommunications Company (ETISALAT), and Aldar Properties PJSC (ALDAR) of course after its profit news. NBS/SIB volumes up nicely, perhaps people working out that the announced dividend is a nifty 6% yield on today's prices.

UAB suffered a 10% drop on its first trade this month. Nicely matching the 10% gain on its only trade last month. NBF not far behind with a 9% drop, also from just one trade. ARKAN still sliding away with a 1.5% fall to 1.30. Abu Dhabi Islamic Bank (ADIB) and AGTHIA the only other losers amongst the more active stocks with falls of less than 1%. Although ADNH and TKFL had 2-3% falls on over 1m dhs worth of trading each.

• Comment on this report and view previous reports on the Share Wadi blog.
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DIC, ALDAR, NBD busy 16 Jan 07

UAE market news & discussions for 16 January 2007 ARIG - schedule for 2006 results and dividend announcements - 04 Jan 2006 CBI 2006 FY profits (not yet) - BOD meeting 22 Jan 2007 CBI capital increase and rights issue to AED 1 bn DFM - actively traded stocks list for 2006 H2 - PR 15 Jan 2007 DFSA appointment of Enforcement Managing Director - GN 17 Jan 2007 ESCA bans 2 brokers, warns 21 others - WAM 02 Jan 2007 ETISALAT benefits in free zones from agreement with DU - GN 16 Jan 2007 FGB 2006 FY profits (not yet), BOD meeting 23 Jan 2007 GCC Energy Fund II - second one to be launched in 2007 - GN 07 Jan 2007 GLOBAL report says GCC stocks up 25% in 2007 - KT 16 Jan 2007 Golden Gate Securities discussion [ban by ESCA 02 Jan 2007] JEEMA - Board of Directors changes - 16 Jan 2007 NBF 2006 FY profits (not yet), BOD meeting 22 Jan 2007 NBS/SIB 2006 FY profits AED 200m - BOD meeting 16 Jan 2007 TABREED - expansion of alliance with Sumitomo of Japan - 16 Jan 2007 TABREED capacity to double by 2009, up to AED 6 bn investment - GN 16 Jan 2007 WARE & NRE - share prices fall on cancelled contracts? 26 Nov 2006 More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 16 January 2007

top stock rises symbol price change AKIC 1.87 +0.16 +9.4% QTEL 237.50 +8.50 +3.7% NBAD 22.85 +0.75 +3.4% BOS 2.75 +0.08 +3% UPP 2.99 +0.07 +2.4%

top stock falls symbol price change IFA 9.00 -1.40 -13.5% AWNIC 5.67 -0.63 -10% NBF 4.95 -0.55 -10% ASMAK 3.51 -0.26 -6.9% RAKWCT 1.72 -0.06 -3.4%

top volume symbol value (AED) price EMAAR 143,328,866 12.30 DIC 55,304,098 4.37 ALDAR 37,529,736 3.90 ADCB 13,256,465 6.01 ADIB 12,957,587 52.35

Dubai Financial Market

A very quiet day today on DFM with only 267m dhs worth of trading, but at least it rose - by 0.4% to about 4100 points.

Union Properties PJSC (UPP) was the notable stock of the day on DFM with its 2.4% rise to 2.99. International Financial Advisors KSCC (IFA) traded for the first time in weeks and promptly trumped the losers list with a 13.5% fall to 9 dhs from its single trade. They may even be cheap at that price.

Although Emaar Properties PJSC (EMAAR) was the most heavily traded with 143m dhs worth, Dubai Investments PJSC (DIC) volume of 55m dhs was noteworthy, especially on such a quiet day. National Bank of Dubai (NBD) down to a fifth of yesterdays volume with 10m dhs worth of trading today, but still ahead of almost every stock on DFM's recently published active shares list. A list they're not on. Share price remained flat at 9 dhs.

Abu Dhabi Securities Market

ADSM had a marginal drop of only 0.1% on moderate volumes of 109m dhs today.

Aldar Properties PJSC (ALDAR) on big volumes once again with 38m dhs worth putting them in third place overall out of ADSM and DFM combined - unusual to see stocks from ADSM trump DFM stocks on volume. Its 2.3% increase is a promising indication. Abu Dhabi Commercial Bank (ADCB) also showed up in the top five overall with its 13m dhs worth of trading. ARKAN, Abu Dhabi Islamic Bank (ADIB), Dana Gas PJSC (DANA), and Sorouh Real Estate (SOROUH) in the ADSM top by volume as usual with very little movement either way. Gulf Cement Company (GCEM) also heavily traded although it fell one fil to 3.94.

AKIC scored the top rise of 9.4% from only 3 trades - not for lack of buyers though. But no one in the sell queue. While National Bank of Abu Dhabi (NBAD) the top riser of the more active stocks, up 3.4% to 22.85.

Sharjah Islamic Bank (NBS) was the first company to release an actual profit figure this month (ABNIC yesterday said they had an increase). A total of zero trades indicates the market isn't particularly interested though.

• Discuss and read UAE company news at Dubai Share Talk.

Emaar MGF IPO? Markets 17 Jan 07

UAE market news & discussions for 15 January 2007 EMAAR joint venture with India's MGF - AED 11 bn IPO plans - R 14 Jan 2007 DFM - actively traded stocks list for 2006 H2 - PR 15 Jan 2007 TAMWEEL in the news today? 15 Jan 2007 IAIC in the news today? - 15 Jan 2007 EIC - appointment of a new Chief Financial Officer - 15 Jan 2007 QTEL - alliance with ST Telemedia for Asia-Pacific expansion - 15 Jan 2007 RAKNIC - 25% foreign ownership approved by ministry - 15 Jan 2007 ABNIC 2006 FY technical profits up 20% - 15 Jan 2007 FGB housing finance agreement with Abu Dhabi government - PR 15 Jan 2007 ADCB 2006 FY profits (not yet) BOD meeting 21 Jan 2007 FGB - gold sponsor of Al Ain Air Show 2007 - PR 14 Jan 2007 Top stock picks for January 2007 2006 FY profit announcements for Saudi Arabia stock exchange 2006 FY profit announcements for Doha stock market, Qatar IPOs coming up in Saudi Arabia in 2007 UFC - changes to board of directors - disclosure DFM 14 Jan 2007 ETISALAT - Mobily (Saudi) intends to bid for Saudi mobile license - SEB 14 Jan 2007 SHUAA - new director of sales appointment - KT 14 Jan 2007 ADCB Quality Management System approval from Lloyd's - KT 14 Jan 2007 EMAAR - Pakistan island projects - AED 158 bn development ETISALAT control of .ae domain to go to the TRA - GN 14 Jan 2007 MASQ - Mashreq Bank relocates their main branch in Qatar - PR 14 Jan 2007 NBS / SIB signs MoU with Sharjah Tatweer Forum - PR 14 Jan 2007 GLOBAL GCC Real Estate Fund (April 2005 launch) - update 14 Jan 2007 GLOBAL acquires Sudanese financial services company - PR 14 Jan 2007 More...

Dubai and Abu Dhabi stock market report 15 January 2007

top gainers symbol price change (dh) ADAVIATION 2.15 0.15 BILDCO 3.92 0.18 FH 8.74 0.24 UNB 7.22 0.19 NBAD 22.10 0.55

top losers symbol price change (dh) NCTH 4.11 -0.39 ADNH 5.75 -0.45 MAZAYA 7.91 -0.40 SCIDC 3.98 -0.16 NBD 9.00 -0.30

top volume symbol value (AED) price EMAAR 21,562,017 12.25 ALDAR 14,539,377 3.81 DIC 6,666,225 4.30 ARKAN 5,535,925 1.33 AMLAK 5,089,094 5.10

After the  plummet of yesterday 14 January the markets in the UAE stabilised today. The DFM index was up slightly by 0.31% to 4084 and ADSM was down slightly by 0.14% to 2979. Both markets are drifting and bumping along waiting for direction. Do I hear yearly results will break the spell?

Dubai Financial Market

Most actively traded stocks by value today were Emaar Properties PJSC (EMAAR), National Bank of Dubai (NBD) and Dubai Investments PJSC (DIC). The standout was Emaar Properties PJSC (EMAAR) rising 1.65% on volumes of more than 21 million shares. This could be explained by the speculation regarding the Emaar MGF IPO in the Indian propery market, or not, depending on how you interpret Emaar's announcement today. National Bank of Dubai (NBD) was down over 3%.

Other stocks which traded today on healthy volumes of more than 5 million shares included Dubai Investments PJSC (DIC) and Amlak Finance Company (AMLAK).

Abu Dhabi Securities Market

A disappointing day today with the ADSM index finishing below the 3000 level. The total volume of shares traded was a relatively small 35 million shares with decliners out numbering gainers 21 to 13.

The most active stocks by volume were Aldar Properties PJSC (ALDAR), ARKAN and Abu Dhabi Commercial Bank (ADCB).

The biggest gainers were ADAVIATION, Abu Dhabi National Company for Building Materials (BILDCO) and Finance House PJSC (FH). However only BILDCO rose on significant volume.

The biggest losers were NCTH, ADNH both in the consumer sector and Sharjah Cement & Industrial Development Company (SCIDC). However only NCTH showed significant volume

• Discuss and read UAE company news at Dubai Share Talk.

UAE stocks down 14 Jan 2007

UAE market news & discussions for 14 January 2007 ALDAR 2006 FY results - BOD meeting 16 Jan 2007(changed) - 10 Jan 2007 RAKCC 2006 FY results (not yet), BOD meeting 27 Jan 2007 - 14 Jan 2007 CBD 2006 FY results (not yet), BOD meeting 16 Jan 2007? - 14 Jan 2007 UFC - changes to board of directors - disclosure DFM 14 Jan 2007 ETISALAT - Mobily (Saudi) intends to bid for Saudi mobile license - SEB 14 Jan 2007 NMTC Wataniya trades cancelled for 09/10 Jan - SEB 14 Jan 2007 Enduam receives first court action from the DFSA - 05 Dec 2006 SHUAA - new director of sales appointment - KT 14 Jan 2007 ADCB Quality Management System approval from Lloyd's - KT 14 Jan 2007 EMAAR - Pakistan island projects - AED 158 bn development ETISALAT control of .ae domain to go to the TRA - GN 14 Jan 2007 MASQ - Mashreq Bank relocates their main branch in Qatar - PR 14 Jan 2007 NBS / SIB signs MoU with Sharjah Tatweer Forum - PR 14 Jan 2007 EMAAR joint venture with India's MGF - AED 11 bn IPO plans - R 14 Jan 2007 GLOBAL GCC Real Estate Fund (April 2005 launch) - update 14 Jan 2007 GLOBAL acquires Sudanese financial services company - PR 14 Jan 2007 DIG subsidiary Dubai Financial stake in Marfin Financial Group 16 Mar 2006

Dubai and Abu Dhabi stock market report 14 January 2007

top gainers symbol price change (dh) SCIDC 4.14 0.37 ADNH 6.20 0.55 TKFL 3.42 0.15 FOODCO 4.65 0.16 ADSB 2.84 0.09

top losers symbol price change (dh) AKIC 1.76 -0.14 QCEM 1.75 -0.12 DNIR 3.23 -0.17 NBAD 21.55 -1.00 EIC 12.10 -0.50

top volume symbol value (AED) price EMAAR 392,349,649 12.15 DIC 38,016,504 4.27 DU 37,925,928 6.18 AMLAK 32,298,482 5.10 DIB 27,839,069 8.16

A depressing day on DFM and ADSM with all the actively traded shares on DFM stock falling, and all but one on ADSM heading south. Tadawul took a 4% whack yesterday to around 7200, today it fell also but only by 0.4%. Results starting to come out for Saudi stocks but nothing yet for any of the UAE stocks although there's a handful of board meetings announced this week.

Dubai Financial Market

The DFM index fell 1.7% to 4062 on almost 600m dhs worth of trading. It started off at 4143 and plummeted to 4065 in the first few minutes, then wobbled about at around that level for the rest of the session.

Some unpleasant falls of around 3% each from Emaar Properties PJSC (EMAAR), Aramex PJSC (ARMX), Islamic Arab Insurance Company PSC (IAIC), National General Cooling Company PJSC (TABREED) and Union Properties PJSC (UPP), while Amlak Finance Company (AMLAK), Arabtec Holding PJSC (ARTC), Dubai Investments PJSC (DIC) and Dubai Islamic Bank (DIB) fell about 2%. GGICO the only stock to rise on DFM with a 1.2% increase from just 2 trades.

Abu Dhabi Securities Market

The ADSM index fell 1.3% to close below 3000 points at 2983 from volume of just under 100m dhs worth. Sudan Telecom Company Ltd (SUDATEL) the only one of the more active stocks to rise - up 1.4%. Sharjah Cement & Industrial Development Company (SCIDC) and ADNH rose almost 10% each from single trades.

Aldar Properties PJSC (ALDAR) trading the most by volume with 23m dhs worth of deals and a 0.8% fall to 3.80. ARKAN next by volume with 15m dhs worth and a 0.7% drop. National Bank of Abu Dhabi (NBAD) had a painful 4.4% fall.

Foodco Holdings PJSC (FOODCO) and Gulf Cement Company (GCEM) down about 2.5% each, First Gulf Bank (FGB), Gulf Pharmaceutical Industries (JULPHAR), Sorouh Real Estate (SOROUH) and Ras Al Khaimah Properties PJSC (RAKPROP) down about 2%, Abu Dhabi National Energy Company (TAQA) down 1.5%, Aabar Petroleum Investments Company PJSC (AABAR), Dana Gas PJSC (DANA) and Abu Dhabi Commercial Bank (ADCB) down about 1%, Emirates Telecommunications Company (ETISALAT) down 0.6%, and Abu Dhabi Islamic Bank (ADIB) the best of a bad bunch falling only 0.1%. Biggest fall was 7.4% to 1.76 for AKIC from just 2 trades.

• Discuss and read UAE company news at Dubai Share Talk.

ADSM down DFM up Thu 11 Jan 07

Dubai and Abu Dhabi Market news & discussions for Thursday 11 January 2006

Dubai and Abu Dhabi Market news & discussions today 2006 Q4 profit expectations for UAE banks ET/Reuters 02 Jan 2006 - updated ARKAN chairman on 2006 profit, new deal, share price - GN 11 Jan 2007 - new FBI / FBICO - Fujairah Building Industries new listing ADSM - 11 Jan 2007 - new DU expects 500,000 new subscribers - GN 09 Jan 2007 - updated EMAAR - EFG report says BUY, fair value 19.70 dhs - 11 Jan 2007 - new EMAAR - Umm Al Quwain Marina development AED 12 billion - updated ETISALAT report from EFG says BUY, fair value 26.34 dhs - 11 Jan 2007 - new

UAE finance and economy related news and discussions today

• US/ROTW accounting impasse - solved with technology? FT 04 Jan 2007 - new
• Dubai Property Market in 2007 - any comments?
• UAE stock markets 2007 - your comments?

UAE Market Report today

top gainers symbol price change (dh) NMDC 3.99 0.19 TKFL 3.27 0.15 ARIG 2.70 0.07 DRIVE 1.63 0.04 AKIC 1.90 0.04

top losers symbol price change (dh) FOODCO 4.49 -0.42 INVESTB 2.38 -0.15 MAZAYA 8.30 -0.35 BILDCO 3.80 -0.13 ADSB 2.75 -0.09

top volume symbol value (AED) price EMAAR 258,674,197 12.35 DU 34,818,938 6.25 DIB 34,331,179 8.20 DIC 32,604,786 4.32 ARKAN 26,360,058 1.36

It was up for DFM - a mere 0.3% to 4143 from 427m dhs worth of trading, nothing spectacular and no big price movements either. While ADSM headed the other way with a 1.2% fall from 131m dhs of trading, half of it from ARKAN and Abu Dhabi Commercial Bank (ADCB) dragging the index down. Fujairah Building Industries on ADSM was the fourth new listing on the UAE markets this week, with its debut and first actual trade today (only one though).

Comprehensive reports from EFG-Hermes released yesterday rated Emaar Properties a buy and Etisalat a buy - although Etisalat fair value was adjusted downwards from their previous report.

Dubai Financial Market

Dubai Financial Market index started off at 4128, yoyo-ed to a low of 4105, and then crawled back up to finish the day at 4123. Dubai Islamic Bank (DIB) led the increases of the actively traded shares with a 1.5% rise to 8.20, the others all rose less than 1% except for Shuaa Capital PJSC (SHUAA) and National General Cooling Company PJSC (TABREED) which fell 0.9% and 1.4% respectively.

MAZAYA had a 4% fall from one trade and Arab Insurance Group (ARIG) had a 2.7% rise from 1 trade - those two stocks providing the movement extremes for the day on DFM.

Abu Dhabi Securities Market

ARKAN bottomed out at 1.30 today but recovered slightly to finish at 1.36, only a 1.5% fall, from 26m dhs worth of trading. It would seem the sell-off has eased. Abu Dhabi Commercial Bank (ADCB) with 25m dhs worth of trades put it in second place by value on ADSM, a fall of 2% to 6.14 not looking too healthy.

Sudan Telecom Company Ltd (SUDATEL), Union National Bank (UNB), and Gulf Pharmaceutical Industries (JULPHAR) rose 1-2% from moderate volumes, Aldar Properties PJSC (ALDAR) more heavily traded but a rise of just 0.3%. Biggest rises from thin trading for National Marine Dredging Company (NMDC) and TKFL of 5% and 4.8% respectively.

The other busier stocks all fell 0-2% except for Aabar Petroleum Investments Company PJSC (AABAR) which took a 3% nosedive to 2.07, Dana Gas PJSC (DANA) with a 2.6% hit to 1.50, and Emirates Telecommunications Company (ETISALAT) down 2.4% to 16.45. Foodco Holdings PJSC (FOODCO) had the dubious honor of the biggest fall - down 8.7% to 4.49 from just three trades.

• Discuss and read UAE company news at Dubai Share Talk.

ARKAN limit down 10 Jan 2007

Dubai and Abu Dhabi Market news & discussions for Wednesday 10 January 2006

Dubai and Abu Dhabi Market news & discussions today ALDAR 2006 FY results - BOD meeting 17 Jan 2007 to discuss - 10 Jan 2007 ADSB - BOD meeting 16 Jan 2007 to discuss 2007 plan - 10 Jan 2007 BAYAN.DFM - Bayan Investment Company new listing DIB open 23 new branches to have total 53 by end 2007 - KT 26 Jun 2006 DIB voted best Islamic bank worldwide and for the UAE - PR 10 Jan 2007 Delma Brokerage, Abu Dhabi, information - new technology PR 10 Jan 2007 DFM - Dubai Financial Market performance summary 2006 - PR 10 Jan 2007 DU - EFG-Hermes says 33% of market by 2010, rated NEUTRAL - 10 Jan 2007 EBI - receives award for Special Needs employment 10 Jan 2007 NBD Investment Bank joins DIFX as a broker - PR 10 Jan 2007 SALAM BOD meeting 09 Jan 2007 - FY results not discussed - 10 Jan 2007 WARE & NRE - share prices fall on cancelled contracts? 26 Nov 2006

UAE finance and economy related news and discussions today

• Dubai Holding subsidiary - rated A+, may issue bonds - 09/10 Jan 2007
• Dubai Property Market in 2007 - any comments?
• UAE stock markets 2007 - your comments?

UAE Market Report today

top gainers symbol price change (dh) NCTH 4.50 0.25 RAKWCT 1.79 0.05 NBD 9.29 0.24 MAZAYA 8.63 0.20 BILDCO 3.93 0.07

top losers symbol price change (dh) TKFL 3.12 -0.25 UNB 7.12 -0.32 FOODCO 4.84 -0.15 NMDC 3.80 -0.11 SHUAA 4.69 -0.12

top volume symbol value (AED) price EMAAR 373,366,348 12.60 ARKAN 79,946,015 1.38 DIC 35,767,774 4.37 DIB 33,852,782 8.24 ETISALAT 24,564,097 16.85

A bit of a tumble for both UAE markets today. ADSM had a steady decline from 3086 to 3057 points - almost 1% down from increased volume of 192m dhs - over a third of that from newly listed ARKAN going down again. DFM started nicely at about 4175 and drifted up and down a few points from there until midday when it dropped away to finish at 4138 points with moderate volume of 529m dhs worth traded.

Dubai Financial Market

Except for some obscure stocks, every actively traded share fell on DFM today. Shuaa Capital PJSC (SHUAA) and Emaar Properties PJSC (EMAAR) suffering the worst with 2.5% and 2.3% drops respectively. Arabtec Holding PJSC (ARTC) was down 1.5%, Dubai Investments PJSC (DIC) fell 1.8%, and Dubai Islamic Bank (DIB) fell 1.4% even though they were voted the best Islamic bank in the world. The rest of them fell less than 1%, with Emirates Integrated Telecommunications Company (DU) having a reasonably neutral day after an EFG-Hermes report gave them a neutral rating - even that seems a little optimistic in our opinion.

Abu Dhabi Securities Market

Arkan Building Materials was in the spotlight once again today, with shares bottoming out at 1.35, the limit down or 10% from yesterday's close, and a massive 80m dhs worth traded. Only Emaar on DFM traded more by value. ARKAN very quickly fell to the limit down price, bounced up and down a bit and was back to 1.35 by the close of the day. As usual, no buyers in the queue but not so many sellers either. The freefall may have stopped, or at least slowed down.

Emirates Telecommunications Company (ETISALAT) fell only 0.6% to 16.85 but volumes were up significantly to 25m dhs worth. Aldar Properties PJSC (ALDAR) also busy with 17m traded and a 1.3% fall to 3.82. Gulf Cement Company (GCEM) volumes much more than normal with almost AED 10m traded but a slight fall of 0.7% to 4.17. Abu Dhabi Commercial Bank (ADCB) not as hectic as last week and falling 2.2% to 6.26 - perhaps taking a breather before going for another climb? Or is that being too optimistic?

Aabar Petroleum Investments Company PJSC (AABAR), Abu Dhabi Islamic Bank (ADIB), DANA Gas, First Gulf Bank (FGB), National Bank of Abu Dhabi (NBAD), Oasis International Leasing Company PJSC (OILC), and Sudan Telecom Company Ltd (SUDATEL) all fell about 1% or less. Abu Dhabi National Energy Company (TAQA) and Ras Al Khaimah Properties PJSC (RAKPROP) didn't move.

Abu Dhabi National Company for Building Materials (BILDCO) was up 1.8% from only three trades, Ras Al Khaimah Cement Company (RAKCC) up 1%, Ras Al Khaimah White Cement Company (RAKWCT) up 2.9%, NCTH up 5.9% from just one trade, and Gulf Pharmaceutical Industries (JULPHAR) up 1.5%.

• Discuss and read UAE company news at Dubai Share Talk.

UAE markets flat 09 Jan 2007

top gainers symbol price change (dh) UNION 2.15 0.15 UNB 7.44 0.33 FOODCO 4.99 0.13 ADNH 5.80 0.13 ADIB 52.80 0.65

top losers symbol price change (dh) NBQ 4.95 -0.55 NCTH 4.25 -0.40 SCIDC 3.76 -0.17 EBI 12.45 -0.55 GGICO 8.40 -0.30

top volume symbol value (AED) price EMAAR 391,385,177 12.70 DIC 44,296,928 4.38 ADIB 33,266,391 52.80 ALDAR 32,458,996 3.87 AMLAK 23,046,899 5.20

Dubai and Abu Dhabi Market news & discussions today

Dubai and Abu Dhabi Market news & discussions today BOS 2006 results (not yet) and AGM on 10 Feb 2007 - 09 Jan 2007 DANA acquisition of Centurion Energy completed - PR 09 Jan 2007 DIC - M'Sharie buys 51% of International Rubber Company - PR 09 Jan 2007 DU expects 500,000 new subscribers - GN 09 Jan 2007 Emaar Dividend for 2006, payout date? FTC Fujairah Trade Centre lists on ADSM 09 Jan 2007, 2006 H1 analysis GFH - Jordan Gate project - Aman sells shares to Bayan - PR 08 Jan 2007

UAE finance and economy related news and discussions today

• India-GCC trading bloc proposed by the UAE - 08 Jan 2007
• NBAD says UAE economy up 7% for 2007 - Reuters 08 Jan 2007
• Dubai rent cap 7% for 2007 - or 0% if rent increased in 2006? WAM 01 Jan 07
• Dubai Property Market in 2007 - any comments?
• UAE stock markets 2007 - your comments?

UAE Market Report for Monday 02 January 2006

A quietish day on DFM with stocks generally going nowhere and moderate volumes of 526m dhs worth of trading. The index was marginally lower by 0.13% to close at 4175 after an initial drop and then a recovery. Fujairah Trade Center was a new listing for DFM today, and like DRC yesterday, nobody was interested.

ADSM looking a little more interesting with a 0.31% rise to 3086 on volumes of 123m dhs - mostly from Aldar Properties PJSC (ALDAR) and Abu Dhabi Islamic Bank (ADIB), while ARKAN, the new stock on the block really was on the block heading down another 10%.

Dubai Financial Market

The actively traded stocks moved very little today. Dubai Investments PJSC (DIC) and Dubai Islamic Bank (DIB) the exceptions with slightly more than 1% rises on good volumes for both of them. News of M'Sharie's purchase of part of a rubber plant possibly explaining heavier trading in Dubai Investments recently.

Aramex PJSC (ARMX) and Tamweel PJSC (TAMWEEL) were up by less than 0.5%, Emaar Properties PJSC (EMAAR), Emirates Integrated Telecommunications Company (DU) and Union Properties PJSC (UPP) went nowhere, Shuaa Capital PJSC (SHUAA) down slightly on only 9 trades, Amlak Finance Company (AMLAK), Arabtec Holding PJSC (ARTC), National General Cooling Company PJSC (TABREED) all down by about 0.5% or less. National Bank of Dubai (NBD) again showing unusual activity - 400,000 shares today from just 3 deals with a marginal rise of 0.7% to 9.06. Larger drops of 2-5% for NCC, Emirates Bank International Group (EBI), GGICO, and National Bank of Dubai (NBD) from only 1 or 2 trades in each stock.

Abu Dhabi Securities Market

As on DFM, it was a bit of a mixed bag with very few clear movements. Abu Dhabi Islamic Bank (ADIB) with a 1.3% rise to 52.80 and 33m dhs trading volume was a clear leader, Aldar Properties PJSC (ALDAR) with 32m dhs traded was also busy but a slight drop of 0.8% wasn't encouraging.

Arkan Building Materials not looking healthy again today. It opened limit down (10%) at 1.50 and stayed there all day, with about two thirds of the day's volume going through right on the opening bell. Similar to yesterday, no buyers in the queue and 12m shares waiting to be sold at close. Tomorrow's price ... 1.35?

Dana Gas PJSC (DANA) and National Bank of Abu Dhabi (NBAD) went up by less than 1%, while Emirates Telecommunications Company (ETISALAT), Gulf Pharmaceutical Industries (JULPHAR) and Gulf Cement Company (GCEM) all rose about 1% on similar volumes by value. Foodco Holdings PJSC (FOODCO) and ADNH were up over 2%.

Ras Al Khaimah Properties PJSC (RAKPROP) and RACC didn't move. Sorouh Real Estate (SOROUH), Sudan Telecom Company Ltd (SUDATEL), Abu Dhabi National Energy Company (TAQA), Aabar Petroleum Investments Company PJSC (AABAR), Abu Dhabi Commercial Bank (ADCB) and First Gulf Bank (FGB) fell between 0% and 1.5%. DRIVE was busy again after a period of calm - a 3% fall to 1.62.

NBQ had a 10% fall to 4.95 from just 2 trades, NCTH had a single trade (the first for a month) and an 8.6% fall to 4.25. Biggest rise was 7.5% for Union Insurance from just 1 deal.

• Discuss and read UAE company news at Dubai Share Talk.

ARKAN & DRC listed 08 Jan 07

top gainers symbol price change FCI 4.79 0.29 INVESTB 2.53 0.15 JULPHAR 1.95 0.10 ADSB 2.84 0.13 EIC 12.65 0.55

top losers symbol price change ADNH 5.67 -0.63 NMDC 4.01 -0.34 RAKCC 2.02 -0.10 AKIC 1.91 -0.09 BILDCO 3.86 -0.17

top volume symbol value (AED) price EMAAR 313,629,853 12.50 DU 55,575,826 6.35 ALDAR 25,929,545 3.90 DIC 24,451,799 4.30 AMLAK 18,278,224 5.17

Dubai and Abu Dhabi Market news & discussions today ADSB Baynunah Corvettes contract with UAE Navy amendment - 08 Jan 2007 AMLAK expansion into Egypt - PR 08 Jan 2007 ARKAN lists shares on ADSM today, volume high, price low - 08 Jan 2007 DIB 3 year capital protected Global Diversified Fund - launched 08 Jan 2007 DRC.DFM Dubai Refreshments Company new listing Mon 08 Jan 2007 DIFC Data Protection Law issued and Commissioner appointed - 08 Jan 2007 EMAAR - Um Al Quwain Marina presentation centre ready soon - 08 Jan 2007 FH 2006 FY accounts - board meeting 22 Jan 2007 - disclosure 07 Jan 2007

UAE finance and economy related news and discussions today

• How to get 33% compound return - see Buffini from Permira - 08 Jan 2007
• US$ - a positive outlook for 2007 - usnews.com 07 Jan 2007
• VAT of 3-5% in the UAE by end 2008? - GN 24 Aug 2006
• Dubai rent cap 7% for 2007 - or 0% if rent increased in 2006? WAM 01 Jan 07
• Dubai Property Market in 2007 - where do you think it will go?
• UAE stock markets 2007 - what do you think will happen?

UAE Market Report for Monday 08 January 2006

Two new companies listed today. Arkan Building Materials floated on ADSM and trumped all the other ADSM shares on volume but sadly fell behind on price with 90% of its volume for today traded in the first 30 minutes. Dubai Refreshments Company (DRC) on DFM found no takers for its shares despite all the positive comments in the press release about broadening investment options.

Markets overall did the opposite of yesterday. ADSM was down by 1.4% to 3076 from 129m dhs of trades while DFM, after an early dip, closed up by just 0.2% at 4180 with 474m dhs worth traded - not an encouraging sign when volumes drop as prices go up.

Dubai Financial Market

Emaar Properties (EMAAR) was up by 1.2% to 12.70 from 314m dhs worth - about two thirds of the DFM total (and more than twice as much as the ADSM total just to give a sense of perspective). Amlak Finance (AMLAK) was flat, and the other active stocks all moved up or down by less than 1%. Except for Du Telecom (DU) which had another depressing day, dropping 1.7% to 6.34. Is it a sign that they may not be ready to launch before the end of 2007 Q1?

NBD was noted for having 500,000 shares go through on a single trade. Most days there are zero trades for NBD. Price remained unchanged at 9.00.

Abu Dhabi Securities Market

ADSM saw all of its actively traded shares fall or stay flat today. Abu Dhabi Commercial Bank (ADCB) making the most significant turnaround with its 3.6% drop to 6.48 from 12m dhs of trading. Either the news that spiked the recent heavy trading got out today, or day traders figured it was time to take their profits. So far there's no official news released.

Focus turns to Al Dar Properties (ALDAR) now with 26m dhs worth of trading and a 1.5% drop to 3.90, while ARKAN had a less than stellar debut on the markets as mentioned. FGB also busy with another 12m traded and a closing price of 13.00 unchanged from yesterday. Etisalat Telecommunications (ETISALAT) well down on the list by value with only 2m dhs worth exchanging hands and a slight drop of 0.6% to 16.75.

Other falls of around 4% from Aabar Petroleum (AABAR) , BILDCO, FH, AGTHIA, almost 5% down from RAKCC, and 2-3% drops from SOROUH, OILC, RAK Properties (RAKPROP) , and Abu Dhabi National Energy Company (TAQA). The big drops of 10% from ADNH and 7.8% from NMDC were on very few trades.

Nothing rose that was particularly noteworthy. JULPHAR up 5.4%, FOODCO up 3.6%, TKFL up 3.4%, and INVESTB up 6.3% exactly reversing yesterday's fall. All on volumes of less than 1m dhs worth. EIC up 4.6% and FCI up 6.4% on only 5 small trades between them.

• Discuss and read UAE company news at Dubai Share Talk.

ADCB & ADSM up 07 Jan 2007

top gainers symbol price change ADNH 6.30 0.50 QCEM 1.88 0.12 FOODCO 4.69 0.27 GLOBAL 12.70 0.70 ADCB 6.72 0.35

top losers symbol price change PALTEL 31.80 -3.25 JULPHAR 1.85 -0.18 FCI 4.50 -0.33 INVESTB 2.38 -0.16 CBI 2.61 -0.10

top volume symbol value (AED) price EMAAR 616,075,300 12.75 DU 114,339,070 6.59 AMLAK 61,758,030 5.29 TAMWEEL 61,131,626 4.26 DIC 60,268,668 4.40

Dubai and Abu Dhabi Market news & discussions today

• WARE & NRE - share prices fall on cancelled contracts? 26 Nov 2006
• FCI board meeting 31 Jan to discuss profit distribution - ADSM 07 Jan 2007
• ADAVIATION capital increase - ADSM 07 Jan 2007
• ADCB financial partner for AED 800m Waterfront Residence - KT 06 Jan 2007
• Al Safwa Islamic Financial Services [banned by ESCA 02 Jan 2007]
• ESCA bans 2 brokers, warns 21 others - WAM 02 Jan 2007
• Oil price fall to $55 at start of 2007, could fall further - R 07 Jan 2007
• UAE - US Free Trade Agreement talks revival? - KT 15 Nov 2006
• Emaar property management now under Hamptons - WAM 06 Jan 2007
• GCC Energy Fund II - second one to be launched in 2007 - GN 07 Jan 2007
• Dividends on UAE shares for 2006 to increase? ET/AME 04 Jan 2007
• GLOBAL to set up AED 7.3 bn Global Buyout Funds - GN 06 Jan 2007
• ADIB board meeting to discuss AED 1.5 bn sukuk - ADSM 28 Dec 2006
• RAKCEC - EFG-Hermes report says buy - 28 Dec 2006
• Global trade up to $27 trillion by 2030 says World Bank - KT 05 Jan 2007
• MASQ to sell a 10 year dollar bond - GN 05 Jan 2006
• ETISALAT revenue estimate for 2007 down due to DU - GN 05 Jan 2007
• Dubai Ports World will sell stakes in two Australian port units - ET 05 Jan 2007
• Dubai hotel capacity to increase by 25% in 2007 - ET 05 Jan 2007
• Dubai Property Market in 2007 - where do you think it will go?
• UAE stock markets 2007 - what do you think will happen?

UAE Market Report for Monday 02 January 2006

A day of divergence today with ADSM up 1% to 3119 points and DFM down 0.6% to 4172 points. Both markets saw increased volumes - just under AED 1bn for DFM and AED 164m for ADSM, a third of that from heavy trading in Abu Dhabi Commercial Bank (ADCB) shares.

Dubai Financial Market

Emaar Properties (EMAAR) traded 616m worth - two thirds of the DFM total - with a fall of 0.4% to 12.75. Du Telecom (DU) was down by an unpleasant 3.4% on second highest volume of 114m dhs. Aramex Logistics (ARMX) , Amlak Finance (AMLAK) , Dubai Investments (DIC) , Islamic Arab Insurance Company (IAIC) , Shuaa Capital (SHUAA) , Union Properties (UPP) all fell about 1-2%, Arabtec Holdings (ARTC) fell 0.75% and National General Cooling Company (TABREED) not too promising with a 2.2% fall to 2.25.

DIB the only one of the active shares on DFM to show an increase - and that was only by a fil to 8.31. GGICO, GLOBAL, DNIR had 3-6% increases on very few trades.

Abu Dhabi Securities Market

ADSM, in contrast to DFM, saw increases from all the actively traded stocks with Abu Dhabi Commercial Bank (ADCB) the star of the day by far. Its 50m dhs worth of trading well in excess of their normal trading, and on any ADSM stock for that matter recently. It's very doubtful this is related to the news yesterday that they are the financial partner for the Waterfront Residence. More likely to do with 2006 profits and/or dividends.

SUDATEL was also unusually busy with 19m dhs worth traded and a 2.8% rise to 8.05, and BILDCO also kicking up a 3.6% from 10m dhs traded - well in excess of their normal volumes. Since they announced last week that the share buyback was complete, perhaps there's good profit news coming from them.

Abu Dhabi Islamic Bank (ADIB) , Aabar Petroleum (AABAR) , Al Dar Properties (ALDAR) , FGB, RAKCC, SOROUH and Abu Dhabi National Energy Company (TAQA) all rose 1-2% with FGB volumes still up a bit from normal. Dana Gas (DANA) with no change at 1.57 on a moderate 11m dhs worth of trading, and GCEM and TKFL both up about 3%. As for the losers, INVESTB was the worst of the lot with a 6.3% drop to 2.38 on heavier than normal trading (they rarely trade at all). A couple of bigger decreases from other stocks were from very few or single trades and thus not really significant, except perhaps for JULPHAR with its 8.9% fall from 7 trades.

• Discuss and read UAE company news at Dubai Share Talk.

FGB, ADCB, NBAD up 04 Jan 07

Dubai and Abu Dhabi Market news & discussions today

• Share buybacks for UAE stocks - May 2006
• BILDCO share buyback - announced May 2006
• ARIG - schedule for 2006 results and dividend announcements - 04 Jan 2006
• IFA HR and Istithmar buy almost 50% of Thailand's Raimon - GN 04 Jan 2006
• DAMAC investments up 4 times by 2009 to AED 94 bn - KT 04 Jan 2007
• UAE 2006 market losses AED 340 bn, GCC AED 1.65 trillion - KT 04 Jan 2007
• TAQA - IEA forecasts 269 GW energy need in GCC by 2030 - KT 04 Jan 2007
• TAQA to buy CMS Energy for AED 2-2.5 bn [rumour?] 19 Dec 2006
• TAQA assets AED 220 bn by 2010 and 35 bn capital increase GN 07 Nov 2006
• EMAAR Healthcare unit to invest AED 18 bn, director appointed - ET 13 Dec 2006
• ADIB board meeting 10:30 today delays trading - ADSM 28 Dec 2006
• DIB receives Best Islamic Finance House award for the UAE - PR 03 Jan 2006
• Dubai Bank to become Islamic from January 2007 - GN 20 Dec 2006
• ESCA bans 2 brokers, warns 21 others - WAM 02 Jan 2007
• ADIB - AED 1.5 bn sukuk for EIIC - KT 03 Jan 2006
• DIB receives Best Islamic Finance House award for the UAE - PR 03 Jan 2006
• Dubai Bank starts operations as Islamic Bank - AME 03 Jan 2006
• Dubai Property Market in 2007 - where do you think it will go?
• UAE stock markets 2007 - what do you think will happen?

UAE Market Report for Thursday 04 January 2006

A good day all round with DFM up by 1% - Dubai Investments (DIC) and Emaar Properties (EMAAR) leading the way, and ADSM up almost 3% - mostly due to Abu Dhabi Commercial Bank (ADCB) storming ahead by a hefty 6.7%, and FGB closely behind with a 4% increase - both on heavy volumes.

Not much in the way of market-moving news though. BILDCO appears to have completed their share buyback, ESCA told Emaar Properties (EMAAR) , Shuaa Capital (SHUAA) and GGICO to hurry up with their buybacks, and IFA bought into a real estate company in Thailand (see links above to news and discussion).

Dubai Financial Market

Dubai Financial Market started the day at about 4160 points and flopped about for most of the session with a last minute jump to just under 4200 points by the close of trading. Total volume was AED 382m from 3427 trades, as usual Emaar Properties (EMAAR) responsible for about half of that (up 1.6% to 12.60).

Dubai Investments (DIC) in second place by value with 80m dhs traded and a 2.1% rise to 4.39. Other actively traded stocks rising were Tamweel Finance (TAMWEEL) up 1.2% to 4.25, DIB up 1.5% to 8.24, and Amlak Finance (AMLAK) up 1% to 5.25. Increases of 0.5% to 1.5% on volumes of less than 10m dhs per stock also from Arabtec Holdings (ARTC) , Aramex Logistics (ARMX) , Du Telecom (DU) , Islamic Arab Insurance Company (IAIC) , Shuaa Capital (SHUAA) , National General Cooling Company (TABREED) , and Union Properties (UPP) . Biggest rises on single trades for each company from ARIG up 12% to 2.70 and ACICO up 15% to 6.95 - their first trade since the end of Oct 2006.

Decreases of 4.7% for NCC and OIC from 2 trades each, and less than 1% for AMAN and IFA on 7 trades and 1 trade respectively.

Abu Dhabi Securities Market

ADSM up on solid volume of AED 125m - triple what went through yesterday. Abu Dhabi Commercial Bank (ADCB) with 31m dhs worth of trading the highest by volume, and a 6.7% increase to 6.37 eclipsing the usual heavily traded stocks. That sort of increase on such volumes for a share that is usually only lightly traded would indicate something positive is happening - possibly good 2006 Q4 profits or a higher than expected dividend coming. Similar sentiment could be in the wind for FGB with a 4.1% rise to 12.85 from 20m dhs traded, alos much higher than normal. Al Dar Properties (ALDAR) came in third by volume with its 2.6% rise to 3.92 from 15m dhs worth. National Bank of Abu Dhabi (NBAD) saw only 11 trades go through but they added up to almost 10m dhs worth and a mighty 9.9% rise for the day to 23.15.

After the excitement from the three banks, everything else seems rather mundane but there were another 22 stocks showing an increase while only 6 fell and 2 remained unchanged. OILC much busier than usual with its 3.4% rise to 10.05, SOROUH and Abu Dhabi National Energy Company (TAQA) up about 2.5% each, Aabar Petroleum (AABAR) up 3.3%, Abu Dhabi Islamic Bank (ADIB) up 3%, FOODCO up 2%, Dana Gas (DANA) up 1.3%, DRIVE up 4.2%, AGTHIA up 2.4%, and Etisalat Telecommunications (ETISALAT) looking weak in comparison with its 1.2% rise from only 4m dhs worth of trading.

While National Bank of Abu Dhabi (NBAD) had the largest increase, FH wasn't far behind with a 7.8% rise. What was significant was the size of the trade - only 10 shares for a grand total of 90 dhs, or 240 dhs if you include the two sets of brokerage fees (one for the buy and one for the sell). ADNH was also up there with a 9.9% increase and a slightly bigger trade of 1000 shares - still only 5800 dhs total though.

Shares dropping were QCEM down 5.9%, ADAVIATION down 5.2%, and AKIC, GCEM, and INVESTB all down by less than 1%. A total of only 14 trades combined went through for the losing companies.

• Discuss and read UAE company news at Dubai Share Talk.

UAE markets quiet - 03 Jan 07

Dubai and Abu Dhabi Market news & discussions today

• ADIB - AED 1.5 bn sukuk for EIIC - KT 03 Jan 2006
• DIB receives Best Islamic Finance House award for the UAE - PR 03 Jan 2006
• Dubai Bank starts operations as Islamic Bank - AME 03 Jan 2006
• ESCA bans 2 brokers, warns 21 others - WAM 02 Jan 2007
• Golden Gate Securities discussion
• Al Safwa Islamic Financial Services [banned by ESCA 02 Jan 2007]
• ETISALAT denies it will buy part of MTC (Kuwait) - ADSM 28 Dec 2006
• Dubai Property Market in 2007 - where do you think it will go?
• UAE stock markets 2007 - what do you think will happen?

UAE Market Report for Wednesday 03 January 2006

Both Dubai Financial Market and Abu Dhabi Securities Market were up marginally but on very little trading - DFM down to half yesterday's volume and yesterday was poor enough. The calm before the storm? We'll all be hoping the markets storm upwards if that's the case. Unless you take onboard what one broker was reported as saying - that 2007 will be a better year than 2006 since he didn't expect the markets to lose more than 20%. Lose?

Biggest market related news today was ESCA suspending trading for two Dubai based brokerages, and warning 21 others (or 23 according to some reports).

Don't forget to throw in your guesses for property market and share market returns for 2007 (see links above).

Dubai Financial Market

DFM started around 4120 and fell slightly before crawling up to about 4160 by the end of the day, a 0.8% rise on total value of only 167m dhs. Within the past couple of weeks, there were a couple of days with ten times that value traded. The DFM site tells us no stocks went down, 4 stayed the same and 11 rose. But contrary to what the DFM site says, the DFM site (yes, the same one) also tells us that ARIG had a decline of 9.7% from one small trade.

The biggest rise was MAZAYA with a couple of rare trades, up 3.7% to 8.35. Emaar Properties (EMAAR) was up 1.2% to 12.40 and responsible for about half the total value traded today. Heavy (relatively) trading in Dubai Investments (DIC) with a 1.7% rise to 4.30. Amlak Finance (AMLAK) up by 1.4% to 5.20, Aramex Logistics (ARMX) up by 1.5% to 2.66, Tamweel Finance (TAMWEEL) up 1.4% to 4.20 and the remainder up by 1% or less.

Abu Dhabi Securities Market

ADSM trading volumes down to just 42m dhs on a 0.25% rise. Not much but enough to get the index back over the 3000 point level with a close of 3004. More shares fell than rose however - 17 went down, 2 were unchanged and 12 rose, with a good show from Abu Dhabi Commercial Bank (ADCB) on relatively heavy trading.

ADNIC (+5.3%, 8.95, 2 trades) had the highest increase, followed by Abu Dhabi Commercial Bank (ADCB) up 2.6% from 12m dhs worth and UNB up 3.6% (only one trade though). ADNH and National Bank of Abu Dhabi (NBAD) were up 1.9%, and FGB, RAKCEC, RAKCC, RAKWCT, TKFL, OILC, SUDATEL all rose less than 1% (although RAKCEC's last sale was 7.7% down from yesterday's close).

AWNIC took a 10% hit, falling to 6.30 from just 1 trade of only 50 shares. Aabar Petroleum (AABAR) got a 4.4% poke in the eye to close at 2.15. Abu Dhabi Islamic Bank (ADIB) down 1.4% to 51.00. DRIVE relatively busy and dropping by 5.2% to 1.67. RAK Properties (RAKPROP) dropped 2.1% to close at 1.42 and SOROUH lost 1.3% to finish at 2.23. Al Dar Properties (ALDAR) , Dana Gas (DANA) , Etisalat Telecommunications (ETISALAT) , AGTHIA all fell less than 1%.

• Discuss and read UAE company news at Dubai Share Talk.