AMLAK DU down, AABAR ALDAR up 19 Mar 2007

UAE markets Monday 19 March 2007 The big news today was the convertible bond for land deal between Emaar and Dubai Holding, with reporters and analysts trying to figure out if its a good deal or not, and for who. So far, the market response has been muted which means either it's a fair deal, or nobody really knows what's happening. There were a few other stockmarket related news items. The Air Arabia IPO continues, just in case anyone had forgotten, and Shuaa put out a press release giving a positive rating but it still didn't sound that positive. Yet another research report appeared for Emaar with a BUY rating from SICO. Citigold listed on DIFX today and actually saw a handful of trades. There seemed to be contrary statements about ADCB and possible mergers from the CEO and Chairman after the Abu Dhabi Commercial Bank AGM yesterday approved the cash dividend. Meanwhile today, DFM bombed and ADSM didn't. Read on...

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 19 March 2007

• ADCB considering mergers and acquisitions ... or not? 19 Mar 2007
• ADCB 2007 Q1 profits up or down? - AGM comments Mar 2007
• ADCB share transfer to ABD Investment Council approved - GN 19 Mar 07
• ADCB shareholders approve 30.25% dividend - GN 19 Mar 2007
• Abu Dhabi Islamic Bank BOD meeting 20 Mar 2007 (or AGM)?
• Aldar shares can be traded by foreigners from Sun 18 Mar 2007?
• Air Arabia outlook positive says Shuaa Capital report - PR 18 Mar 2007
• Citigold Corporation (Australia) lists on DIFX today - PR 19 Mar 2007
• DNIR Annual General Meeting 19 Mar 2007 - 30% cash dividend
• 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
• FOODCO cash and share dividends, 15 Apr 2007 for AGM - 19 Mar 2007
• IFA Hotels and Resorts opens office in London - PR 19 Mar 2007
• Jazeera Airways listing on KSE filed - trading in 2007 Q2 - PR 19 Mar 2007
• Mashreq Securities open for DIFX trading - PR 19 Mar 2007
• OMB Oman Merchant Bank IPO in Oman, possible DIFX listing PR 19 Mar 07
• Palestine Telecommunications AGM 25 Mar 2007
• RAK Properties showcases Mina Al Arab at ITB Berlin - PR 19 Mar 2007
• Saudi insurance IPOs launched Saturday - R 17 Mar 2007
• Stock Picks by Technical Analysis March 2007
• Dubai Properties - The Souq at Culture Village launched - PR 19 Mar 2007
• Dubai Int Capital sells DaimlerChrysler shares at 72% profit - R 19 Mar 07
• EMAAR will issue 2.4 bn new shares to Dubai Holding - PR 18 Mar 2007

More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 19 March 2007

best stock rises symbol price change TKFL 3.82 +0.30 +8.5% UAB 7.00 +0.43 +6.5% UNION 2.11 +0.11 +5.5% ALDAR 4.47 +0.15 +3.5% ARIG 3.00 +0.10 +3.4%

worst stock falls symbol price change ASMAK 4.45 -0.47 -9.6% OEIHC 14.70 -1.50 -9.3% AMAN 14.80 -1.25 -7.8% ADNH 4.77 -0.38 -7.4% SUDATEL 8.38 -0.56 -6.3%

top volume symbol value (AED) price EMAAR 301,254,596 11.65 ALDAR 58,898,558 4.47 DFM 40,788,855 2.02 AABAR 38,942,275 2.40 DU 37,268,735 5.05

Dubai Financial Market

The DFM index fell 1.2% to 3865 looking for new lows. DFM total volume was a moderate 572m. The Dubai Holding news didn't help the Emaar Properties PJSC (EMAAR) share price, which fell 1.7% to 11.60 from 301m dhs of trading.

Only three stocks rose, Aramex PJSC (ARMX) up by just 0.5%, National General Cooling Company PJSC (TABREED) up by 1% and Arab Insurance Group (ARIG) up by 3.4% from one trade.

Amlak Finance Company (AMLAK) had a miserable day, plummeting by 4.8% to 3.40, and Emirates Integrated Telecommunications Company (DU) was not far behind with a 4.2% fall to 4.98. Worst fall of 8.1% for AMAN was from very light trading and MAZAYA tumbled 5.9% to 8.00 on a couple of large deals.

Abu Dhabi Securities Market

While DFM fell, ADSM rose. Admittedly not by much, just a 0.1% increase to 3034 points on still decent volume of 308m dhs worth of shares.

Solid increases on big volumes for Aabar Petroleum Investments Company PJSC (AABAR) and Aldar Properties PJSC (ALDAR) both up 3.5%, and AGTHIA up 2.4%.

Sudan Telecom Company Ltd (SUDATEL) was the big loser today, down by 6.3% to 8.38 from 19m dhs worth of trading. Abu Dhabi Islamic Bank (ADIB) lost 2.2% to close at 52.20. Other actively traded stocks fell about 1% or less.

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