DFM was bland enough today although there was an encouraging spurt for TAMWEEL - will they or won't they get their bank licence? EFG-Hermes don't seem convinced in their updated (and confusing) report for AMLAK after their licence application failed. ADSM was much more exciting with astounding volume for OILC and big rises for ADCB, SOROUH, TKFL and BILDCO. After the weak finish to the Air Arabia IPO, look out for an even bigger one - Emirates Post IPO - maybe even this month. AGMs today for ACICO, AKIC, DRC, NIND. Shares ex-dividend today RAKWCT. Shares ex-dividend tomorrow RAKPROP? Last trading day tomorrow for dividend entitlement for AHI, FBICO, GCEM. Do not act on this information before confirming it first with the market. |
|
UAE market news & discussions for Wednesday 04 April 2007
- AGTHIA AGM 26 Apr 2007 at 5pm - ADSM 04 Apr 2007
- AMLAK fair value update from EFG - confusing recommendation and LT fair value - 03 Apr 2007
- ARMX Aramex AGM postponed to Mon 16 Apr 2007 - DFM 04 Apr 2007
- DRC dividend dates disclosure - 04 Apr 2007
- Emirates Post IPO by the end of April 2007? - 04 April 2007
- TABREED dividend distribution dates - DFM 04 Apr 2007
- TAMWEEL stock price rising - 04 Apr 2007
- Dow Jones DFM index top four companies? Not based on trading volumes.
- Dubai trying to rein in development with greater focus - FT 04 Apr 2007
- AMLAK and TAMWEEL Banking License questions - 03 Apr 2007
- DME approvals from CH, IRL, Oman, NZ, not yet from DFSA - PR 04 Apr 07
- NBAD partly finances AED 1.5 bn new UAE University in Al Ain PR 04 Apr 07
- Property markets worldwide at a peak? AME 04 Apr 2007
- Etisalat wins award for BlackBerry service at Innovation Awards 2007
- Emirates Post & Hong Kong Post express & distribution agreements 04 Apr 07
- Stock Picks by Technical Analysis April 2007
- Air Arabia IPO
- ADCB & KFIC sign MoU - new AED 570m Private Equity Fund - PR 04 Apr 07
- EIB offers finance scheme with Juma Al Majid for Hyundai cars PR 04 Apr 07
- TAMWEEL AGM approves dividend, hopeful on bank licence - GN 01 Apr 07
- Dubai Property market trends - summary of opinions and articles
- AGTHIA 2006 FY AED 29.1m up 1.5% from 2005 - 31 Jan 2007
- MASQ - MashreqBank offers unsecured overdraft for SMEs PR 03 Apr 07
- Emirates Post IPO
- Emirates Post plans to buy 50 new aircraft - 04 Apr 2007
- ARMX report from EFG-Hermes - BUY rating - 02 Apr 2007
- Air Arabia IPO closes only 1.5x oversubscribed - PR 02 Apr 2007
- DFM to launch two Islamic indexes with Dow Jones - PR 02 Apr 2007
- ACICO 2006 FY results (not reviewed) late? - 14 Feb 2007
- NIND 2006 FY AED 1.7 bn -28.8% from 2005 - BOD meeting 10 Feb 2007 at 12:30.
- TABREED 2006 FY profit +104% to AED 104m - 04 Feb 2007
- ARMX 2005 FY profit AED 95m +28% on 2005 - conflicting revenues
- DRC 2006 FY results 01 Feb 2007 - not reviewed yet
More UAE stock market news and discussions...
Dubai and Abu Dhabi stock market report 04 April 2007
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dubai Financial Market
The DFM index crept up by 0.2% to 3666 points today after a rocky ride. Total
traded value was still weak at 456m dhs.
Tamweel
PJSC (TAMWEEL) definitely in the spotlight with a 5% rise to 3.63 on
strong volumes of 86m dhs worth. Its compatriot, or rival, Amlak
Finance Company (AMLAK) also looked good with a 2.5% rise to 2.83. AMAN
also looking decent with a 3.4% rise but volumes mediocre. Most other actively
traded stocks had smaller rises. Emaar
Properties PJSC (EMAAR) was up by 0.9% to 10.95.
DIB had a minimal fall of 0.15% to 6.45. No other noteworthy decreases.
Abu Dhabi Securities Market
ADSM up 0.8% to 2862, total traded value a solid 371m dhs. The small movement
in the index shielding some large movements on strong volumes.
Oasis
International Leasing Company PJSC (OILC) had one huge deal of 8.75 million
shares responsible for the bulk of the 90m dhs by value today. Close price
of 9.61 dhs up by 0.5%.
Abu
Dhabi Commercial Bank (ADCB) was up by a mighty 7.5% to 5.75 with second
largest volume by value, of 65m dhs. Probably would have been higher but
price hit 10% limit up by the end of the day with no sellers and a big queue
of buyers indicating price will rise again tomorrow.
TKFL another stock going limit up on much heavier than normal trading - almost
all of it in the last 20 minutes. Close price of 4.44 up 8% from yesterday. Abu
Dhabi National Company for Building Materials (BILDCO) rose by 7.3% to
3.67 after hitting the 10% limit during the day, volumes much heavier than
normal. And last in the list of big risers was Sorouh
Real Estate (SOROUH) with a 5.8% increase to 2.75. Other increases were
small in size and/or volume.
Emirates
Telecommunications Company (ETISALAT) started trading again today ex-dividend
and fell by just 0.7% on large volume of 69m dhs, the decrease much smaller
than expected based on the 3.7% dividend yield. Ras
Al Khaimah White Cement Company (RAKWCT) also ex-dividend today with the
5.9% decrease lower than the 9% yield, but volume significantly higher than
usual.
Ras
Al Khaimah Ceramics (RAKCEC) had an unpleasant 7.1% fall on higher than
normal volumes. Other shares fell on low volumes and/or by a small amount.
- Discuss and read UAE company news at Dubai Share Talk.
AGMs and EGMs (E&OE) this week
- ACICO AGM & EGM 04 Apr 2007
- ADSB AGM Mon 02 April 2007 - 10% cash dividend proposed?
- AKIC AGM 04 Apr 2007 - postponed from 01 Apr 2007
- ARMX AGM 03 April 2007 - 10% cash dividend proposed
- DRC AGM 04 Apr 2007 - 25% share dividend proposed
- NBF AGM Mon 02 Apr 2007 - 10% share dividend and 10% cash dividend approved
- NIND AGM & EGM 04 Apr 2007 - 10% share and 70% cash dividend proposed?
- TAMWEEL AGM & EGM 31 Mar 2007 - 20% cash (or share?) dividend, increase in foreign ownership limit.
Last Trading Days this week - Record Date is two days later (E&OE)
- Confirm dates with market before taking any action based on this information.
- ADAVIATION last trading day Tue 03 Apr 2007
- AHI last trading day - Thu 05 Apr 2007
- ETISALAT last trading day Sun 01 Apr 2007
- FBICO last trading day Thu 05 Apr 2007?
- GCEM last trading day - Thu 05 Apr 2007
- GGICO last trading day -Mon 02 Apr 2007
- GMPC last trading day Sun 01 Apr 2007
- NCTH last trading day Tue 03 Apr 2007
- RAKPROP Maturity Date 08 Apr 2007, Last Trading Day Wed 04 Apr 2007?
- RAKWCT last trading day Tue 03 Apr 2007 (possibly 05 Apr 2007)
- SOROUH last trading day Sun 01 Apr 2007
AGMs and EGMs next week
- ARTC AGM 09 Apr 2007 - 15% cash and 15% share dividend proposed
- SHOP AGM & EGM 11 Apr 2007
- UFC AGM 14 Apr 2007 - 10% cash dividend proposed?
Last Trading Days for dividend entitlement (record date 2 trading days later, E&OE) next week
- ADSB last trading day - Mon 09 Apr 2007
- ARTC last trading day - Thu 12 Apr 2007 (if quorum at 09 Apr AGM)
- DRC last trading day Thu 12 Apr 2007 (company proposal in English)
- NBF last trading day - Sun 08 Apr 2007 (stated in press release)
- TAMWEEL last trading day - Tue 10 Apr 2007
- UNION last trading day Wed 11 Apr 2007?
