UAE market news & discussions for 05 April 2007An encouraging day on the markets as both DFM and ADSM steamed upwards - ADSM on considerably higher volumes. Rumours of a merger between ADCB and UNB were unfounded according to ADCB. Perhaps. While the ADCB - ADIB merger rumours were ignored by ADCB. Looks like DIB might be joining in the fun too, or at least the market thinks it is - their shares rocked ahead today. The AMLAK bank licence saga doesn't seem to be over - they claim they haven't been officially notified yet. News of Crescent Petroleum's oil exploration talks in Iraq may have prompted a lift for DANA. Shares ex-dividend today ACICO, NIND, RAKPROP. Shares ex-dividend Sunday AHI, FBICO, GCEM. Last trading day Sunday for dividend entitlement NBF. Do not act on this information before confirming it first with the market. |
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- Oger refinances Turk Telekom purchase to smooth path to IPO - 29 Mar 07
- ETISALAT delays Egypt launch until May 2007 - AB 05 Apr 2007
- AMLAK - 97% finance on SOROUH's Sky & Tala Towers and Golf Gardens
- TAQA CEO talks about North Sea energy at NBS Conference PR 05 Apr 07
- EMAAR Industries & Investments buys Microsoft products - PR 05 Apr 07
- Oasis Crescent Capital (DIFC) Ltd
- NBAD adviser Ziad Dabbas comments on GCC markets - DAH 05 Apr 07
- Stock Picks by Technical Analysis April 2007
- IPO summit concludes IPOs can stabilise Middle East markets PR 05 Apr 07
- TNI - founder shares AMLAK, AABAR, ARMX, ALDAR, ARTC, FH - PR 27 Feb 07
- Corruption report puts UAE at top of Arab list but still low - GN 05 Apr 07
- AHI 2006 FY - last day of trading for dividends
- ACICO 2006 FY - AGM results and shares ex-dividend
- NIND 2006 FY - AGM results and shares ex-dividend
- GGICO 2006 FY - bonus shares in accounts
- DANA 2006 FY - agenda for AGM 29 April 2007
- IAIC 2006 FY - agenda for AGM 29 April 2007
- DRC 2006 FY - AGM results
More UAE stock market news and discussions...
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Dubai Financial Market
After a miserable start to the month, the DFM had a jolly jump of 2.5% to finish the week at 3758. The index saw a sharp rise at beginning, then remained steady for most of session with another sharp rise at the end of day. Everything rose except for 4 obscure and rarely traded stocks, and a total traded volume of a healthy 870m dhs. Emaar Properties PJSC (EMAAR) up by 2.3% to 11.20 but volumes down a bit relatively speaking, to less than a third of the total for DFM. Dubai Islamic Bank (DIB) stood out today with a 6.5% surge to 6.87 and an impressive 136m dhs worth of trades. Islamic Arab Insurance Company PSC (IAIC) also looking hot with an increase of 5.5% from 48m dhs of trading. Decent rises for Amlak Finance Company (AMLAK) up 4.2% and Tamweel PJSC (TAMWEEL) up 3.7% with an ample 151m dhs of trades - second only to Emaar. Unusually, Emirates Bank International Group (EBI) was somewhat active today with 17 trades instead of the usual none or one, and a 3.9% increase.
Abu Dhabi Securities Market
A great day for ADSM with a very solid 371m dhs of trading and a 2.1% increase in the index to 2922. Abu Dhabi Commercial Bank (ADCB) continued from yesterday's sterling performance and shot up another 7.5% to 6.04, with top volume for the day at 87m dhs worth. National Marine Dredging Company (NMDC) deserves a mention for maxing out at a 10% increase on much higher than the usual zero trades. Dana Gas PJSC (DANA) trading was solid and shares rose 3.7% rise. Aabar Petroleum Investments Company PJSC (AABAR) also looking promising with a 3.1% increase, same increase for Union National Bank (UNB) on higher than usual volumes. Almost all the consequential stocks rose today with only Sorouh Real Estate (SOROUH) falling a mere 0.4%, and Ras Al Khaimah Properties PJSC (RAKPROP) down by 3% after going ex-dividend. Considering their dividend yield was about 5.5%, they were effectively in line with the index today.
- Discuss UAE companies at Dubai Share Talk.
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 (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.
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) - likely to change as a result of no quorum at EGM.
- 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
