AMAN RAKCC limit up, DFM ADSM down 20 Mar 2007

UAE markets Tuesday 20 March 2007 Both DFM and ADSM headed south although RAK Cement and Dubai Islamic Insurance traded at limit up prices. Trading in Aabar shares was suspended today due to BOD meeting being held - a 5% cash dividend was proposed. Tamweel's dividend question was cleared up, after a fashion and their EGM will vote on increasing Tamweel's foreign ownership limit.

AGMs and EGMs (E&OE) this week

• ADCB AGM Sun 18 Mar 2007 - 30.25% dividend approved
• ADIB 20 Mar 2007 - BOD or AGM?
• DNIR AGM 19 Mar 2007 - 30% cash dividend approved, Record Date 27 Mar 2007
• JULPHAR Tue 20 Mar 2007 - 10% cash dividend proposed
• NBD Tue 20 Mar 2007 - 40% cash & 20% share dividend proposed
• PALTEL AGM 25 Mar 2007 - 20% cash dividend proposed
• RAKPROP Thu 22 Mar 2007 - 7.5% cash dividend proposed
• RAKWCT AGM 21 Mar 2007 - 15% cash dividend proposed
• SOROUH AGM Sun 18 Mar 2007 - postponed to 25 Mar 2007
• TABREED AGM Tue 20 Mar 2007
• TKFL AGM Wed 14 Mar 2007 - postponed to 21 Mar 2007 due to lack of quorum

Dividend Record Dates - last trading day two days before (E&OE)

• AEIBANK 15 Mar 2007 - according to AEI Bank but 19 Mar 2007 according to DFM?
• BILDCO 19 Mar 2007
• EIC Record Date 20 Mar 2007
• EMAAR 22 Mar 2007
• MASQ - Mashreq Bank 18 Mar 2007 - last trading day according to DFM, shares with shareholders on 20 Mar 2007 according to MashreqBank.
• NBAD Record Date 22 Mar 2007
• NCC - National Cement Company - last trading day 18 Mar 2007, Record Date 20 Mar 2007
• SCIDC Record Date 21 Mar 2007

UAE market news & discussions for 20 March 2007

• AABAR BOD proposes 5% cash dividend and 24 Apr 2007 AGM - 20 Mar 07
• ADIB 16 April 2007 AGM - 20 Mar 2007
• ARMX 25th anniversary expansion projects - GDN 20 Mar 2007
• BILDCO audited financial results 20 Mar 2007
• DNIR 2006 profits plummet - GN 20 Tue 2007 - but no comments on yesterday's AGM
• Dubai Holding A1 rating from Moody's affirmed - PR 20 Mar 2007
• EMAAR landbank to double, Dubai Holding gets convertible bond 19 Mar 07
• EMAAR gets BUY rating from SICO Bahrain research report - PR 19 Mar 07
• OEIHC audited financial results - 20 Mar 2007
• QTEL completes Wataniya deal again - PR 19 Mar 2007
• SALAM - reminder AGM today and share trading suspended 20 Mar 2007
• TABREED 2006 FY profit +104% to AED 104m - 04 Feb 2007
• TAMWEEL - foreign ownership to increase to 15%-40% 18 Mar 2007
• TAMWEEL AGM & EGM 31 Mar 2007 and 20% cash dividend
• UAE Central Bank allows banks to develop real estate JVs - GN 19 Mar 2007
• Oil pipelines planned through the UAE - AP 20 Mar 2007
• ABN-Amro & Barclays in AED570 bn merger talks - PA 20 Mar 2007
• DAE (Dubai) to buy US military maintenance provider - R 20 Mar 07
• SALAM - AGM today, 10% cash dividend and share trading suspended 20 Mar 2007
• SALAM 2006 FY results 30 Jan 07? Not checked yet. BOD meeting 29 Jan 2007

More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 20 March 2007

best stock rises symbol price change AMAN 15.85 +2.10 +15.3% ASMAK 4.89 +0.44 +9.9% OEIHC 16.15 +1.45 +9.9% RAKCC 2.00 +0.12 +6.4% QCEM 1.92 +0.11 +6.1%

worst stock falls symbol price change BILDCO 3.62 -0.37 -9.3% UCC 3.80 -0.31 -7.5% AGTHIA 1.17 -0.09 -7.1% FOODCO 3.48 -0.24 -6.5% DNIR 3.20 -0.16 -4.8%

top volume symbol value (AED) price EMAAR 630,823,429 11.30 DIB 62,564,640 6.66 TAQA 52,471,353 2.09 DFM 44,488,584 2.03 RAKPROP 27,066,736 1.35

Dubai Financial Market

The DFM had another depressing day, down by 1.6% to 3805 as it was dragged down by Emaar Properties PJSC (EMAAR) tanking by 3% on the last day before it goes ex-dividend. Total value was just below 900m dhs, two-thirds of that from trading in Emaar shares.

DIB also looking worse for the wear with a 4.2% fall from a substantial 63m dhs worth of trades, followed by Amlak Finance Company (AMLAK) losing 3.2% and Islamic Arab Insurance Company PSC (IAIC) down by 2.6%.

The gainers list looked very short, headed by an impressive 15% limit up rise for AMAN on significant volumes - nicely making up for the 15% fall in the previous two days. Shuaa Capital PJSC (SHUAA) headed the more active list with a 2.1% rise to 4.41, followed by DFM shares with a 1.5% increase, managing to stay above 2 dhs per share - closing at 2.04. Arabtec Holding PJSC (ARTC), Emirates Integrated Telecommunications Company (DU), and Union Properties PJSC (UPP) had rises of less than 1%.

Abu Dhabi Securities Market

ADSM lost 0.8% today, closing at 3008 points on a moderate 197m dhs of trading.

Ras Al Khaimah Cement Company (RAKCC) went 10% limit up today with a solid 18m dhs of trades restricted by the lack of sellers. Abu Dhabi National Energy Company (TAQA) was way ahead on the volume list with 52m dhs of trading and a small 1.5% rise to 2.09. No other rises on significant volumes.

Abu Dhabi National Company for Building Materials (BILDCO) shares went ex-dividend today, the share price going 10% limit down and over-compensating for the 25% cash dividend, total volume of 7.2m dhs. AGTHIA went into sharp reverse after some good gains in previous days, shares falling by 7.1%.

Other notable losses on meaningful volumes were Abu Dhabi Commercial Bank (ADCB) down 1.6%, Abu Dhabi Islamic Bank (ADIB) down 2.6%, Aldar Properties PJSC (ALDAR) down 1.8%, ARKAN down 2.6%, Dana Gas PJSC (DANA) down 2.1%, National Bank of Abu Dhabi (NBAD) down 2%, Ras Al Khaimah Properties PJSC (RAKPROP) down 2.9%, and several others falling by less than 1%.

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