A painful day on the UAE markets today with the DFM index now well below 4000 points. The Air Arabia IPO was only 1.5x oversubscribed which doesn't bode well for a good price when the shares float on DFM. DFM and Dow Jones teamed up to launch two Islamic indexes. And yet another report rates EMAAR shares as a "Strong Buy". AGMs today for NBF and ADSB. AGMs tomorrow for ARMX. Shares ex-dividend today ETISALAT, GMPC, SOROUH. Last trading day for dividend entitlements today for GGICO. Last trading day tomorrow for ADAVIATION, NCTH, RAKWCT. Do not act on this information before confirming it first with the market. |
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UAE market news & discussions for 02 April 2007
- AKIC 04 Apr 2007 for Annual General Meeting - 02 Apr 2007 - rescheduled from 01 Apr 2007
- AKIC Al Khazna 2006 audited financial results again - 02 Apr 2007 (wrong results submitted previously)
- DANA AGM 29 Apr 2007 - 02 Apr 2007
- EMAAR update Misr purchase - HC Securities rating "Strong Buy" - 29 Mar 07
- GGICO dividend entitlement last trading day today 02 Apr 2007
- SHUAA sale of ONIC stake - BankMuscat report - 01 Apr 2007
- UNION Insurance 2006 audited financial results - 02 Apr 2007
- Help a newbie - ARMX and DFM shares
- Stock Picks by Technical Analysis April 2007
- NBQ 2006 FY results (not yet) - BOD meeting 5pm on 28 Jan 2007
- WARE Agility 2006 FY results not submitted, trading suspended - 15 Mar 07
- International Property Show 2007 03-06 Apr 2007 - PR 02 Apr 2007
- Dubai First consumer finance launched by Dubai Holding - PR 02 Apr 07
- QTEL - Iraq operation to be shut down - Asia-Cell Cayman - 01 Apr 2007
- Air Arabia IPO closes only 1.5x oversubscribed - PR 02 Apr 2007
- DU sponsors MECOM 22-25 Apr 2007 and hosts media center PR 02 Apr 07
- CBI offers 0.99% interest rate on car loans with Al Majid Motors PR 02 Apr 07
- NBD launches selektpoints new smart card loyalty program PR 02 Apr 2007
- DIB to implement EastNet financial transaction software - PR 02 Apr 2007
- IAIC Salama sponsoring World Takaful Conference 09/10 Apr 2007
- NBD Academy graduates first group of PAL trainees PR 01 Apr 2007
- DFM to launch two Islamic indexes with Dow Jones - PR 02 Apr 2007
- WARE/AGILITY buy Pan Orient and Lep Int'l from Mainfreight 02 Apr 07
- AKIC 2006 FY results announced (not reviewed yet) 08 Feb 2007
- QTEL - Wataniya holds first meeting for new BOD - 02 Apr 2007
- DANA 2006 FY profit less than AED 821m (includes IPO income?) - 30 Jan 07
- EMAAR will buy out Emaar-Misr partners in Egypt - R 13 Mar 2007
- SHUAA sells 35% of Oman National Investment Co - 01 Apr 2007
- Dubai property market - no excess supply till 2009 - PS report 28 Mar 2007
- Dubai's successful model - Matein Khalid 30 Mar 2007
- KSE crash - wipes out 2007 Q1 gains?? - Reuters 02 Apr 2007
- Property in Dubai demand for 43k units annually to 2010? - DCCI 02 Apr 07
More UAE stock market news and discussions...
Dubai and Abu Dhabi stock market report 02 April 2007
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Dubai Financial Market
The DFMGI continued its slump, with an unpleasantly large fall of 1.4% to 3661 points, and volumes a moderate 424m dhs.
GULFNAV was the only stock of note showing an increase, up by 2% to stay above par value with a close price of 1.02.
Amlak Finance Company (AMLAK) led the list of losers with a 3.5% fall to add to yesterday's 8% drop, share price closing at 2.78. Other falls you don't want to hear about from Emaar Properties PJSC (EMAAR) down 1.8%, Dubai Islamic Bank (DIB) down 2.8%, AMAN down 2.1%, Islamic Arab Insurance Company PSC (IAIC) down 1.9%, and National General Cooling Company PJSC (TABREED) down 2.6%.
Abu Dhabi Securities Market
ADSM fared a little better than DFM with only a 0.6% fall to 2853 points and moderate volume of 133m dhs of trading.
Sorouh Real Estate (SOROUH) shares went ex-dividend today with share price slightly overcompensating for the 4% dividend yield, and falling by 5%. Other movements in the red were from Aabar Petroleum Investments Company PJSC (AABAR) down 2.2%, AGTHIA down 3.3%, Oasis International Leasing Company PJSC (OILC) down 2.9% and falls of less than 2% for other actively traded stocks.
Abu Dhabi Islamic Bank (ADIB) was up by just 0.8% but on strong volumes. Gulf Cement Company (GCEM) up by 1.9%, Aldar Properties PJSC (ALDAR) up by 0.2% and Sudan Telecom Company Ltd (SUDATEL) up by 0.7% were the only other rises worth making a note of.
Emirates Telecommunications Company (ETISALAT) shares were not traded today.
- 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 proposed?
- 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
- 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
