DIB plummets, DFM down 15 Apr 2007

UAE market news & discussions for 15 April 2007 EMAAR released 2007 Q1 results of AED 1.7 billion, a 13% increase on 2006 Q1. No dividend for DANA Gas shareholders, but they signed up a gas deal in Iraq. Massive trading value for DIB shares as they plummeted 7%. Saudi TASI crash yesterday appeared to affect DFM significantly, and ADSM less so. Although there were mixed reports of whether or not there was a big sell-off in Saudi in this mornings newspapers.

• Saudi Tadawul crashes 5.7% ... or not? 14 Apr 2007
• DANA Gas signs gas development agreement with Kurds in Iraq 15 Apr 07
• DFM stock market game 2007
• 2007 Q1 results for DFM and ADSM companies
• EMAAR 2007 First Quarter Results AED 1.721b Profit
• AABAR's Dalma wins AED 85 drilling contract in Algeria - PR 12 Apr 2007
• WARE Agility 2006 FY results not submitted, trading suspended - 15 Mar 07
• GFH - medium term growth strategy - PR 31 Mar, 07 Apr & 15 Apr 2007
• SHOP signs investment contract for Madinah project - 15 Apr 2007
• DFM becomes a member of IASCO?? - 15 Apr 2007
• Air Arabia builds hotel
• NRE 2006 FY results (not checked) announced 08 Feb 2007
• GRAND 2006 FY profit AED 154m -5.7% from 2005 - 01 Feb 2007
• RAKCC 2007 Q1 profit AED28m -23% from 2006 Q1
• JULPHAR 2007 Q1 earnings
• UAB 2007 Q1 profit AED 46m - 12 April 2007
• DANA 2006 FY profit less than AED 821m (includes IPO income?) - 30 Jan 07
• ARTC 2007 FY profit and revenue forecasts
• ARTC 2006 FY profit AED 217m up 30% from 2005 - GN 22 Jan 2007
• Broker's minimum balance or trade value - please add info
• good signs for dfm
• ADIB may buy stake in Egypt's NDB bank - 09 Apr 2007
• Emirates Islamic Bank in Dubai Property Show April 2007 PR 12 Apr 07
• DFM trading value 40% by foreigners in 2nd week of April 2007
• DIC 2006 FY profit AED 990m up 45% from 2005 - 28 Jan 2007

More UAE stock market news and discussions...

best stock rises symbol price change ASMAK 4.42 +0.40 +10% ADNIC 7.95 +0.69 +9.5% GCEM 4.27 +0.29 +7.3% NMDC 4.55 +0.28 +6.6% NCC 10.70 +0.50 +4.9%

worst stock falls symbol price change RAKCEC 3.63 -0.37 -9.3% DIB 7.13 -0.54 -7% ADNH 4.37 -0.32 -6.8% ADAVIATION 1.90 -0.09 -4.5% FOODCO 3.52 -0.16 -4.3%

top volume symbol value (AED) price DIB 509,998,699 7.13 EMAAR 100,639,787 11.25 DFM 65,994,278 2.33 TAMWEEL 60,899,682 3.43 DIC 37,739,032 4.30

Dubai Financial Market

DFM had a poor innings today with a nasty 2.2% fall to 3785 points, just as we were wondering if it was safe to go in the water again. Total volume of close to AED 900 million not as bad as it looks since more than half of that was from trading in DIB, which got smacked down by a massive 7% to 7.00.

Emaar Properties PJSC (EMAAR) saw light trading of 100m and a 1.75% fall to 11.20. Tamweel PJSC (TAMWEEL) was down by 3.7% to 3.38 on moderate volumes. Most other actively traded stocks fell by 2-3%. There were no rises of any note.

Abu Dhabi Securities Market

ADSM fell but much less harshly than DFM, only losing 0.26% to close at 3,028 with traded value of AED 175m.

Gulf Cement Company (GCEM) jumped a solid 7.3% to 4.27 on heavy trading. Most heavily traded share by volume was First Gulf Bank (FGB) with a small 0.4% rise - is it their turn to get involved with bank merger rumours? Abu Dhabi Commercial Bank (ADCB) was up 1.2% on moderate trading, Finance House PJSC (FH) up by 1.7% on light trading but more than usual for them. National Bank of Abu Dhabi (NBAD) up by 1.9%, and Ras Al Khaimah Cement Company (RAKCC) up by 1.1% finishes the list of rises worth paying attention to.

Falls on significant volumes for Aldar Properties PJSC (ALDAR) down 0.8%, Abu Dhabi Islamic Bank (ADIB) down 1.6%, ARKAN down 2.5%, Sorouh Real Estate (SOROUH) down 0.7%, and Dana Gas PJSC (DANA) down 1.4%. Ras Al Khaimah Ceramics (RAKCEC) took a big hit of 9.3% but on light trading. Other falls were small or insignificant volumes.

• Discuss UAE companies at Dubai Share Talk.

Last Trading Days this week - Record Date is two days later (E&OE)

• AKIC last trading day Mon 16 Apr 2007 or Wed 18 Apr 2007
• ARTC last trading day - Mon 16 Apr 2007
• DIN last trading day - 12, 16, 18, or 24 April 2007?
• DRC last trading day Thu 12 Apr 2007 (company proposal in English) - likely to change as a result of no quorum at EGM.
• FOODCO last trading day 18 or 22 Apr 2007 possibly, depending on AGM.
• UFC last trading day 18 or 22 Apr 2007?
• UNIKAI last trading day 11, 12, 15 or 16 Apr 2007?
• UNION last trading day 11 or 15 Apr 2007?

AGMs and EGMs (E&OE) this week

• ADIB AGM 16 April 2007
• DRIVE AGM 17 April 2007
• FOODCO AGM 15 Apr 2007 - 10% cash dividend, 16.29% bonus shares proposed
• NMDC AGM 15 April 2007 - 15% cash dividend proposed
• TABREED AGM Thu 19 Apr 2007 - postponed twice from 20 Mar 2007