EMAAR results at last 29 Jan 2007

UAE market news & discussions for 29 January 2007 EMAAR 2006 FY profit AED 6.37 bn +35% on 2005 - PR 29 Jan 2007 - market doesn't seem to like it with a 4% fall on heavy trading. UAE companies list of 2006 final results and dividends Several other companies released results today - Emirates Telecommunications Company (ETISALAT), ALLIANCE, Arab Orient Insurance Company PSC (AOIC), Arab Insurance Group (ARIG), ASNIC, AWNIC, Dubai National Insurance & Reinsurance Co. (DNIR), GGICO, NBQ, NBS, GMPC, Union Cement Company (UCC), Gulf Pharmaceutical Industries (JULPHAR), UAB, GCC, SICO, EIC, Ras Al Khaimah Ceramics (RAKCEC), DRIVE, UIC, Ras Al Khaimah White Cement Company (RAKWCT). Discussion forum will be updated with comments later. More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 29 January 2007

top stock rises symbol price change QCEM 2.03 +0.13 +6.8% SCIDC 3.90 +0.19 +5.1% FOODCO 4.56 +0.20 +4.6% CBI 2.86 +0.11 +4% INVESTB 2.64 +0.09 +3.5%

top stock falls symbol price change AKIC 1.70 -0.10 -5.6% ADSB 2.72 -0.16 -5.6% NBF 4.00 -0.23 -5.4% DIC 4.51 -0.21 -4.4% GGICO 8.41 -0.38 -4.3%

top volume symbol value (AED) price EMAAR 1,416,393,715 13.35 DIC 97,488,090 4.51 DIB 43,442,119 8.57 DU 34,475,186 6.30 ALDAR 33,543,674 4.01

Big news today was Emaar's results out at last with the market reacting negatively on DFM, the index falling just over 2% to 4226. ADSM was also down but only by a fraction of that - a 0.2% fall to 3034.

Dubai Financial Market

Emaar Properties PJSC (EMAAR) dominated DFM overwhelmingly, its 1.4 bn dhs of trading making up almost 85% of the total of 1.68 bn dhs on DFM today - a big volume day. The price rose early to peak at 13.70 but then fell away to close a hefty 3.7% down at 12.95 by the time trading closed.

Dubai Investments PJSC (DIC) was another one with that had a nasty day, falling almost 5% and 100m dhs of trading, and Arabtec Holding PJSC (ARTC) had a 3.3% knockback. Most other stocks fell 1-2% while of the fours stocks that rose, Arab Insurance Group (ARIG) was the only one that had more than a single trade.

Abu Dhabi Securities Market

ADSM had a far less exciting day with small falls from most of the active shares, total volume a normal enough 111m dhs. Aldar Properties PJSC (ALDAR) the heavyweight of the day with 33m dhs worth traded on a small fall of 0.5%. ARKAN followed with 12m dhs of trading with a 1.6% fall to 1.27. You wonder how close to par value their shares will go. No other volumes above 10m dhs and small movements from the actively traded shares.

Foodco Holdings PJSC (FOODCO) the only one with a big rise on reasonable volumes. Big falls were from stocks trading very few shares.

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