UAE markets Monday 26 March 2007A busy couple of days with a Middle East IPO summit going on where Tamweel blew its own trumpet, and then another ME investment junket where Al Dar Properties announced a 3.7 billion dh shopping trip (among several other bits of Aldar news today), and the CEO said the Aldar founders weren't selling their shares - Aldar share price in the last couple of weeks seems to indicate otherwise. Oger Telecom might do an IPO after all - not till 2008 though. A useful report came out yesterday from EFG-Hermes about the NBD/EBI merger. And we got yet another reminder that the Air Arabia IPO closes tomorrow (Tue 27 Mar 2007) but nothing concrete on how it's gone so far. Please return your seats to the upright position. Last trading day tomorrow for dividend entitlement for ARIG, JULPHAR, NBD. Ex-dividend tomorrow are ADCB, TKFL, QCEM, FCI. (confirm this information with your broker or market before acting on it). |
|
UAE market news & discussions for 26 March 2007
- ADNIC AGM 25 Mar 2007 approves 50% cash dividend - LTD Wed 28 Mar 2007?
- ALLIANCE 20% bonus shares in accounts - DFM 26 Mar 2007
- ASMAK postpones AGM till 22 April 2007 - ADSM 26 Mar 2007
- CBI launches CBI Link, a flash new Customer Contact Center PR 25 Mar 07
- DRIVE AGM on 17 April 2007 - ADSM 26 Mar 2007 (again)
- DDC AGM - apparently on 31?? April 2007
- EFG-Hermes retail clients can now trade on DIFX - 25 Mar 2007
- GGICO AGM results 26 Mar 2007
- NBAD bond price adjustment - ADSM 26 Mar 2007
- NRE National Real Estate BOD meeting 29 Mar 2007 - DFM 26 Mar 2007
- OILC BOD meeting 28 Mar 2007 - to discuss AGM/EGM dates and other (unspecified) matters.
- PALTEL Palestine Telecommunication 2007 audited financial results - 26 Mar 2007
- PALTEL AGM approves 20% cash dividend - 26 Mar 2007
- RAK Properties AGM postponed till Thu 29 Mar 2007
- SOROUH 10% cash dividend approved 26 Mar 2007 - last trading day 01 Apr 2007
- SOROUH to issue Islamic Bonds or Sukuks - EGM 25 Mar 2007
- TAQA assets to increase 43% to AED 73 bn by 2008 - GN 26 Mar 2007
- UFC United Foods Company AGM 14 Apr 2007 - DFM 26 Mar 2007
- Dubai and DIFC irrelevant says Hong Kong's Donald Tsang - 15 Mar 2007
- Stock Picks by Technical Analysis March 2007
- Sheikh Mohammed visit to India 25-26 Mar 2007
- When will recent downward trend end?!
- TNI - founder shares AMLAK, AABAR, ARMX, ALDAR, ARTC, FH - PR 27 Feb 07
- Middle East Investment Summit - Reuters 25-27 Mar 2007
- DAMAC looking to invest in Europe and the US - R 26 Mar 2007
- DIFX waiting for government asset sales & stabilized markets R 26 Mar 07
- DAMAC calls on Dubai government to curb rising construction costs 26 Mar 07
- Stock Picks by Technical Analysis March 2007
- DIB Sukuk lists on DIFX to make it largest Sukuk exchange - PR 26 Mar 07
- Dubai Bank AED 1 bn capital increase announcement .. again - PR 26 Mar 07
- DFSA Chairman talks about shareholder conference at IPO summit 26 Mar 07
- IFA Hotels & Resorts AED 275m JV with O&L Group in Namibia
- DME jet fuel futures by end 2007, oil futures by 01 May 2007? - R 25 Mar 07
- ALDAR unveils Noor Al Ain redevelopment plans - PR 26 Mar 2007
- Al Maabar set up by ALDAR, SOROUH, Al Reem, Al Qudra - GN 01 Mar 07
- DIC subsidiary Dubai Cranes starts operations - PR 26 Mar 2007
- DAMAC Lake Terrace structure in JLT complete - PR 15 Mar 2007
- Damac - AED 60 bn Gamsha Bay development in Egypt - 06 Dec 2006
- DAMAC The Heights, Lofts, Courtyard in Abdali area, Jordan - PR 21 Mar 07
- DAMAC AED 1 bn Lincoln Park in Dubailand - GN 26 Mar 2007
- IPOs in the Gulf region 2007 Q1 total AED 3.2 bn - GN 26 Mar 2007
More UAE stock market news and discussions..
Dubai and Abu Dhabi stock market report 26 March 2007
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dubai Financial Market
DFM was up by 0.7% to 3701 after a rocky day, trading volume an average 685m
dhs. A bit of a relief after yesterday's unnerving fall. All the actively traded
stocks rose except for Shuaa
Capital PJSC (SHUAA) which fell marginally to 4.20. You'd hesitate to call National
Bank of Dubai (NBD) an actively traded stock but traded value today was
more than Shuaa Capital, although it stayed flat at 10.95 dhs.
Best rises from DFM share up 3.5% to 2.09 from a decent 53m dhs of trading,
and AMAN up 5% to 17.90. Emaar
Properties PJSC (EMAAR) was up 1.9% to 10.80 with 301m dhs of trading.
Other rises were about 2% or less.
Abu Dhabi Securities Market
ADSM down by 0.2% to 2933 points, trading volume a decent 214m dhs with big
trading in Ras
Al Khaimah Properties PJSC (RAKPROP) and Emirates
Telecommunications Company (ETISALAT) but unchanged prices, and even bigger
volumes for Aldar
Properties PJSC (ALDAR) with a slight fall of 0.7% to 4.23. You could conclude
that the expiry of the founder share lock in period is having an effect, but
the CEO said today that founder shares were not being sold.
Although the ADSM fell overall, most of the actively traded stocks headed up,
albeit only slightly. AGTHIA had a busy day and a solid 4.4% rise to 1.18. Sudan
Telecom Company Ltd (SUDATEL) was up by 3.4% to 8.57 and the remaining
rises on reasonable volumes were less than 2%.
First
Gulf Bank (FGB) had a 0.9% fall on strong volumes to 11.55. Abu
Dhabi Islamic Bank (ADIB), Ras
Al Khaimah Cement Company (RAKCC), Union
National Bank (UNB), and Gulf
Cement Company (GCEM) were the only other falls on any sort of significant
volume - all falling by 1% or less.
- Discuss and read UAE company news at Dubai Share Talk.
AGMs and EGMs (E&OE) this week
- AHI AGM Wed 28 Mar 2007 - 22% cash dividend proposed
- ADNIC AGM Sun 25 Mar 2007 - 50% cash dividend approved
- AMAN AGM 28 Mar 2007 -
- AMLAK AGM 29 Mar 2007 -
- ARIG AGM Thu 29 Mar 2007 - 10% cash dividend proposed
- ASCANA AGM 26 Mar 2007 - postponed from 20 Mar 2007
- ETISALAT AGM Mon 26 Mar 2007 - 35% cash, 10% share dividend proposed
- FBICO AGM 29 Mar 2007 - 25% share dividend proposed (AGM postponed from 26 Mar 2007)
- GCEM AGM 28 Mar 2007 - 15% cash and 15% share dividend proposed
- GGICO AGM Sun 25 Mar 2007 - 30% share dividend proposed?
- PALTEL AGM Sun 25 Mar 2007 - 20% cash dividend proposed
- RAKPROP Thu 22 Mar 2007 - 7.5% cash dividend proposed, AGM postponed to 29 Mar 2007.
- RAKWCT AGM 28 Mar 2007 - 15% cash dividend proposed, AGM postponed from 21 Mar 2007.
- SALAM AGM 20 Mar 2007 - changed from 11 Mar 2007, 10% cash dividend proposed
- SOROUH AGM Sun 25 Mar 2007 - postponed from 18 Mar 2007
- TABREED AGM Tue 27 Mar 2007 - lack of quorum, postponed from 20 Mar 2007
- UNION AGM 28 Mar 2007 - postponed from 21 Mar 2007
Dividend Record Dates - last trading day (LTD) two days before Record Date (E&OE)
- ADCB record date 28 Mar 2007 - LTD 26 Mar 2007
- ADNIC record date 01 Apr 2007 - LTD Wed 28 Mar 2007?
- ALLIANCE record date 25 Mar 2007 - LTD 21 Mar 2007
- ARIG record date Thu 29 Mar 2007 - 10% cash dividend proposed, LTD Tue 27 Mar 2007
- AWNIC record date 27 Mar 2007? - 10% cash dividend approved, LTD 25 Mar 2007
- DNIR record date 27 Mar 2007 - 30% cash dividend approved, LTD 25 Mar 2007
- EIB record date 27 Mar 2007? - 15% share dividend, LTD 25 Mar 2007
- FCI record date 28 Mar 2007 - 25% cash dividend approved, LTD 26 Mar 2007
- JULPHAR 29 Mar 2007? - 10% cash dividend approved, LTD 27 Mar 2007?
- MAZAYA AGM Wed 21 Mar 2007 - 10% share & 50% cash dividends proposed. Perhaps. Record Date unknown
- NBAD record date 26 Mar 2007 - (not 22 Mar 2007)
- NBD Record Date 29 Mar 2007 - LTD 27 Mar 2007 confirmed in NBD disclosure - 40% cash & 20% share dividend proposed
- QCEM record date 28 Mar 2007 - 10% cash dividend approved, LTD 26 Mar 2007
- RAKPROP AGM Thu 22 Mar 2007 - 7.5% cash dividend proposed. Meeting postponed.
- SICO record date 26 Mar 2007? - 20% cash dividend approved, LTD 22 Mar 2007
- TKFL record date 28 Mar 2007 - LTD 26 Mar 2007
