UAE markets Thursday 29 March 2007OILC jumped almost 8% on a staggering AED 65m dhs worth of trading - third by value today after EMAAR and DIB. It is bewildering to think that the movement was due to the uninspiring news that OILC's BOD recommended no dividend and a 10:1 stock split. A good number of other companies released AGM results and audited financial results today (see links below). AMAN's AGM press release released no useful information to explain why their stock price is all over the place - it tanked by 13% today. ASMAK released a surpisingly comprehensive BOD report, if only all UAE companies would disclose information of that standard. EMAAR said they completed the Emaar-Misr acquisition but Artoc said Emaar hadn't paid them yet. ESCA cleared SHUAA over its allegedly dodgy Al Ahlia transaction last year. And Merrill Lynch said Gulf markets could recover by 30% this year. A nice positive statement to end a dismal week and month on the UAE markets. AGMs today for AMLAK, ARIG, FBICO, RAKPROP. AGM on Sat 31 Mar 2007 for TAMWEEL. AGMs on Sunday 01 Apr 2007 for AKIC Shares ex-dividend today ADNIC. Shares ex-dividend Sunday GGICO. Last trading day for dividend entitlements today GGICO. LTD Sunday for ETISALAT, GMPC, SOROUH. Do not act on this information before confirming it first with the market. |
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UAE market news & discussions for 29 March 2007
- ADAVIATION AGM approves 20% cash dividend - 29 Mar 2007 - record date 05 Apr 2007?
- ADNIC audited 2006 financial results - 29 Mar 2007
- AHI Arab Heavy Industries AGM results - 29 Mar 2007
- AKIC 2006 audited financial results - 29 Mar 2007
- AMAN AGM results - 29 Mar 2007 - no dividends?
- ARIG AGM results - 10% cash dividend approved - 29 Mar 2007
- ASMAK BOD report for 2006 FY - 29 Mar 2007
- ASMAK audited financial results - 29 Mar 2007
- ASNIC audited financial statements and AGM results - 29 Mar 2007 - no dividends?
- DRC 2006 audited financial statements 29 Mar 2007
- EMAAR acquires full ownership of Emaar Misr from Artoc - PR 29 Mar 2007
- EMAAR - Burj Dubai delays and Schmidlin Ltd bankruptcy - B 31 Jan 2007
- EMAAR launches West Loft Tower, finance options from DIB PR 27 Mar 2007
- FBICO AGM approves 25% bonus shares - 29 Mar 2007 - record date 09 Apr 2007?
- GCEM Gulf Cement AGM share and cash dividends approved 29 Mar 2007, record date 09 April 2007?
- GMPC AGM 26 Mar 2007 results - ESCA 29 Mar 2007 disclosure in English
- NCTH AGM approves 20% cash dividend - 29 Mar 2007, record date 05 Apr 2007?
- NMDC 2006 audited financial results - 29 Mar 2007
- OILC BOD proposes no dividend and 10:1 stock split - 29 Mar 2007
- RAK White Cement AGM results 29 Mar 2007 - 15% cash dividend approved, record date 05 Apr 2007?
- SHUAA - ESCA drops enquiry, KSE regulator says no wrongdoing 29 Mar 07
- TAMWEEL 2006 audited financial accounts - 29 Mar 2007
- UNION AGM approves 10% bonus shares - 29 Mar 2007, record date 15 Apr 2007?
- Iran fears haven't dented boom in the Gulf ... yet - R 27 Mar 2007
More UAE stock market news and discussions..
Dubai and Abu Dhabi stock market report 29 March 2007
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Dubai Financial Market
The DFMGI finished the week and the month of March at a depressing 3727 points,
down 0.5% today after a late sharp rise and even sharper fall. Volumes getting
low at 500m dhs worth of trading.
DIB was the winner today with a 1.6% rise to 6.52 on good volume of 73m dhs
worth of trading. Other rises from National
Bank of Dubai (NBD) up 1.1%, Shuaa
Capital PJSC (SHUAA) up 1.2%, and Arabtec
Holding PJSC (ARTC) up 0.2%.
AMAN hit the floor with a 13% fall on strong volumes (16m dhs of trading),
knocking the wind out of its soaring share price in the past couple of weeks.
Today's press release from them says nothing about dividends, or the AED 14m
loss for 2006.
Emaar
Properties PJSC (EMAAR) was down by a mere 0.5% to 11.05 from 214m dhs
of trading - unusually, less than half the total for DFM today.
Other notable losses of 2.5% for Amlak
Finance Company (AMLAK), 1.9% for GULFNAV, 1.5% for Islamic
Arab Insurance Company PSC (IAIC), and 1.5% for Aramex
PJSC (ARMX).
Abu Dhabi Securities Market
ADSM also fell, down by 0.5% to 2884 on moderate volume of 188 dhs by value.
Oasis
International Leasing Company PJSC (OILC) has to be the most curious
stock of the day, almost hitting limit up on huge volumes of 65m dhs worth,
but why? Splendid days also for Ras
Al Khaimah Ceramics (RAKCEC), up by 8% but on much lower volumes, and
TKFL up 5.5% also from low volume. Emirates
Telecommunications Company (ETISALAT) was up slightly by 0.3%, other
increases were small or trivial volumes.
Big falls from Abu
Dhabi Commercial Bank (ADCB) down by 3.4% and high volumes, and AGTHIA
down by 3.3%. ARKAN was down by 1.7% on decent volume, and Aldar
Properties PJSC (ALDAR) down by 1% on moderate volumes. Other movements
were less significant.
- Discuss and read UAE company news at Dubai Share Talk.
AGMs and EGMs (E&OE) this week
- ADAVIATION AGM 28 Mar 2007 - 20% cash dividend approved, record date 05 Apr 2007?
- ADNIC audited 2006 financial results - 29 Mar 2007
- AHI AGM Wed 28 Mar 2007 - 22% cash dividend approved
- AMAN AGM 28 Mar 2007 -
- AMAN 2006 audited financial accounts - 29 Mar 2007
- AMLAK AGM 29 Mar 2007 -
- ARIG AGM Thu 29 Mar 2007 - 10% cash dividend approved
- ARKAN audited 2006 financial results - 29 Mar 2007
- ASNIC AGM 28 Mar 2007 -
- ETISALAT AGM Mon 26 Mar 2007 - 35% cash, 10% share dividend approved
- FBICO AGM 29 Mar 2007 - 25% share dividend approved (AGM postponed from 26 Mar 2007)
- FOODCO audited 2006 financial results - 29 Mar 2007
- GCEM AGM 28 Mar 2007 - 15% cash and 15% share dividend approved
- RAKPROP Thu 29 Mar 2007 - 7.5% cash dividend proposed. AGM postponed from 22 Mar 2007.
- RAKWCT AGM 28 Mar 2007 - 15% cash dividend approved, AGM postponed from 21 Mar 2007.
- SICO audited 2006 financial results - 29 Mar 2007
- TABREED AGM 19 Apr 2007 - postponed from 20 Mar 2007, and then from 27 Mar 2007
- UNION AGM 28 Mar 2007 - postponed from 21 Mar 2007
AGMs & EGMs next week
- AKIC AGM 01 Apr 2007
- ADSB AGM Mon 02 April 2007 - 10% cash dividend proposed?
- NBF AGM Mon 02 Apr 2007 - 10% share dividend and 10% cash dividend proposed?
- TAMWEEL AGM & EGM 31 Mar 2007 - 20% cash (or share?) dividend, increase in foreign ownership limit.
Dividend Record Dates - last trading day (LTD) two days before Record Date (E&OE)
- DNIR record date 29 Mar 2007 - 30% cash dividend approved, LTD 27 Mar 2007 (DFM site)
- EIB record date 29 Mar 2007 - 15% share dividend, LTD 27 Mar 2007 (DFM site)
- FCI record date 28 Mar 2007 - 25% cash dividend approved, LTD 26 Mar 2007
- GGICO record date 02 Apr 2007 - maybe
- JULPHAR 29 Mar 2007? - 10% cash dividend approved, LTD 27 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 29 Mar 2007 - 7.5% cash dividend proposed. Record date?
- TKFL record date 28 Mar 2007 - LTD 26 Mar 2007
Last Trading Days next week - Record Date is two days after (E&OE)
- ETISALAT last trading day Sun 01 Apr 2007
- GMPC last trading day Sun 01 Apr 2007
- SOROUH last trading day Sun 01 Apr 2007 (or possibly 03 Apr 2007 see discussion topic)
