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.

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