ADIB, IAIC up, DIB, energy down - 04 Mar 2007

UAE market news & discussions for 04 March 2007 ADIB EGM approves AED 1.5 bn convertible bonds for EIIC - ET 27 Feb 2007 Record Dates for Bonus/Dividend AFS net profit hits$5.873m - 17 Aug 2006 Stock Picks by Technical Analysis March 2007 AOIC 2006 FY results DIB 2006 FY profit +47% to AED 1.56 bn. Dividends in AGM PR 25 Feb 2007 Arabtec contract to construct two towers in DIFC - 04 Mar 2007 WARE & NRE - share prices fall on cancelled contracts? 26 Nov 2006 EMAAR and India's MGF make offer for RSH of Singapore - 04 Mar 2007 GLOBAL Investment House Board Member resigns - 04 Mar 2007 ASCANA 2006 FY profit AED 9.3m -93% from 2005 - 01 Feb 2007 JEEMA 2006 FY profit AED 4.25m +27% from 2005 - 31 Jan 2007 SALAM 2006 FY results 30 Jan 07? Not checked yet. BOD meeting 29 Jan 2007 RAKBANK 2006 FY profit AED 259 +40% on 2005 - BOD meeting 28 Jan 2007 SCIDC 2006 FY AED 231m profit -31% from 2005 - 31 Jan 2006 FBICO 2005 FY profit AED 20.8m +88% from 2005 - late - 26 Feb 2007 UAB 2006 FY profit AED 158m +2% on 2005, Share div 12%, Cash 8% RAPCO 2006 FY profit AED 9.7m down -58% from 2005 - 28 Jan 2007 ETISALAT eyeing Wataniya after all, and Algerie Telecom - B 26 Jan 2006 QTEL interested in Wataniya but Etisalat not - 28 Feb 2007 EMAAR - Burj Dubai up to 100 floors & 350 meters - PR 17 Jan 2007 DIB - AED 750m deal with Kharifi Group for JXB city construction PR 03 Mar 07 tasi up dfm down [Al Baloushi says GCC markets cheap PR 03 Mar 2007] MINI futures for DU and DIC launched by ABN-AMRO on SWX - PR 04 Mar 07 RAKNIC 2006 FY profit AED 233m -8.8% from 2005, 10% div - BOD 30 Jan 07 More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 04 March 2007

best stock rises symbol price change ASMAK 3.75 +0.34 +10% ADNH 6.00 +0.48 +8.7% ADIB 49.55 +3.45 +7.5% QCEM 1.92 +0.12 +6.7% IAIC 2.92 +0.13 +4.7%

worst stock falls symbol price change ACICO 6.99 -1.00 -12.5% DIB 7.74 -0.41 -5% AABAR 2.29 -0.11 -4.6% NMDC 3.50 -0.15 -4.1% TAQA 2.10 -0.08 -3.7%

top volume symbol value (AED) price EMAAR 204,167,123 12.60 IAIC 135,580,487 2.92 DIB 67,025,523 7.74 ADIB 30,055,248 49.55 DIC 28,553,666 4.42

Dubai Financial Market

DFM continued its lacklustre performance with another 0.9% drop to 4104 points on moderate volumes of 527m dhs worth of shares traded. Emaar Properties PJSC (EMAAR) made a fuss about its Burj Dubai tower reaching 110 floors and the market showed its lack of interest - price unchanged with only 204m dhs worth of trades.

Only two stocks showed any significant movement on volumes of note. Islamic Arab Insurance Company PSC (IAIC) Salama shot up 4.6% on a large 136m dhs worth, while Dubai Islamic Bank (DIB) collapsed by 5.1% from a less hectic 67m dhs worth of trading. Other active stocks moved by less than 1% with Amlak Finance Company (AMLAK), AMAN and Tamweel PJSC (TAMWEEL) the only ones to increase. ACICO was noted for the smallest volume of the day - a single deal of just 100 shares. National Bank of Dubai (NBD) fell almost 2% but on low volume.

Abu Dhabi Securities Market

ADSM had a marginal fall of 0.15% to close at 3066 points. Total value traded of 147m dhs back to more normal levels after some high volume days last week.

Abu Dhabi Islamic Bank (ADIB) went limit up to 50.70 dhs with no sellers in the queue today, restricting volumes to a still noteworthy 30m dhs worth. Interest probably related to the ADIB sukuk issue for Emirates Investment and possible takeover.

The only other shares to increase on volumes of any significance were First Gulf Bank (FGB) up 2%, Sorouh Real Estate (SOROUH) up 0.4%, and Sudan Telecom Company Ltd (SUDATEL) up 0.1%. Other big increase from very low trading volumes.

Most stocks on the active list fell, with the energy shares hit hardest. Aabar Petroleum Investments Company PJSC (AABAR) down 4.6%, Dana Gas PJSC (DANA) down 2.6%, and Abu Dhabi National Energy Company (TAQA) down 3.7%.

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