DIB surge, ALDAR SHUAA up 10 Apr 07

UAE market news & discussions for 10 April 2007 The markets surged ahead in initial trading but fell back towards the end. Massive volume traded for DIB shares on a rising price. Air Arabia allotments of close to 100% were announced for tranches I and II. IFA claimed good results last year despite losing money. Family businesses converting to PJSCs can retain up to 70% ownership (increased from 45%). Arabtec approved dividends and predicted a 25% increase in revenue for 2007. Shuaa received approval from Saudi to operate there. Prime Securities gives a Strong Buy rating for Tabreed, joining a growing list of positive reports (with ShareWadi a lone voice of disagreement). A TAIB Securities report has a positive outlook for UNB. The UAE tops the list in the 2007 Arab World Competitiveness Report. TNI issued their quarterly report on UAE securities with a survey of timeliness of results announcements and commenting on poor but improving investor relations. EBI and NBD announced the appointment of Goldman Sachs as financial adviser to their merger. OPEC style gas cartel talks were denied by Iran & Qatar. And DOW Chemicals says they're not for sale, contrary to buyout reports earlier this week. Shares ex-dividend today ADSB, NBF. Shares ex-dividend tomorrow TAMWEEL. Last trading day for dividend entitlement tomorrow for UNION, UNIKAI. AGM tomorrow for SHOP. Information provisional only, confirm with market first before acting on it.

• TNI market insight - UAE stocks disclosure and results calendar 09 Apr 07
• Family PJSC conversion can retain 70% max up from 45% - 09 Apr 07
• ARTC 2007 FY profit and revenue forecasts
• ARTC 2006 FY profit AED 217m up 30% from 2005 - GN 22 Jan 2007
• Introduce yourself here and read about other DST forumers...
• UAE tops Arab World Competitiveness Report 2007 - 10 Apr 2007
• ALDAR Properties signs up Paul Casey as golf ambassador - PR 10 Apr 07
• DOW Chemicals $50 bn buyout by US and Middle East funds
• IFA new AED 1.1-1.8 bn funds and very unusual 2006 profit claims 10 Apr 07
• IFA 2006 FY results 01 Feb 2007 - AED 420m loss -119% from 2005
• SHUAA - Saudi expansion, growth, no comment on takeover - R 27 Mar 07
• FOODCO 2006 FY profit AED 60m -55% from 2005 - 30 Jan 2007
• DIB not bidding for Egypt's National Development Bank - GN 08 Apr 2007
• DIN 2006 FY results - not reviewed yet
• Air Arabia Allocation:- Tranche I- 80-95% /Tranche II- 80-90%
• TAMWEEL AGM approves dividend, hopeful on bank licence - GN 01 Apr 07
• TAMWEEL 2006 FY profit AED 852m +1918% on 2005, BOD Meeting 30 Jan 07
• Air Arabia IPO closes only 1.5x oversubscribed - PR 02 Apr 2007
• UNB - TAIB Securities report OVERWEIGHT rating 09 Apr 2007
• TABREED capacity to double by 2009 with AED 6 bn investment - 16 Jan 07
• TABREED report from Prime Securities says STRONG BUY 09 Apr 2007
• Money laundering is 5% of global GDP, huge losses in Arab region 10 Apr 07
• UPP, Green Community and Corporate Governance - GN 25 Mar 2007
• CBI BOD meeting 18 Apr 2007
• AKIC 2006 FY results announced (not reviewed yet) 08 Feb 2007

More UAE stock market news and discussions...

best stock rises symbol price change NIND 14.35 +1.30 +10% UNION 2.13 +0.13 +6.5% OEIHC 17.75 +1.00 +6% SHUAA 4.46 +0.24 +5.7% DRIVE 1.56 +0.05 +3.3%

worst stock falls symbol price change DHAFRA 5.10 -0.55 -9.7% ADNIC 7.55 -0.49 -6.1% GCEM 3.96 -0.17 -4.1% ADSB 2.59 -0.11 -4.1% FCI 3.86 -0.14 -3.5%

top volume symbol value (AED) price DIB 571,774,129 7.58 IAIC 186,540,590 2.78 TAMWEEL 166,754,652 3.89 EMAAR 94,640,924 11.35 ALDAR 75,469,214 4.79

Dubai Financial Market

DFM surged ahead from the opening bell today but peaked halfway through the session at 3888 points before falling back to close at 3830 points, still up by 0.4% from yesterday with total traded value a solid 1.25 billion dhs. Almost half of that was in Dubai Islamic Bank (DIB) shares which rose 2.5% to 7.45 but not before hitting an intra-day high of 7.88.

Shuaa Capital PJSC (SHUAA) was up a healthy 5.6% to 4.51 but on relatively light volumes. Emaar Properties PJSC (EMAAR) share price was flat with a very subdued 94m dhs worth of trading, in fourth place by value after Islamic Arab Insurance Company PSC (IAIC) up 3% to 2.75 and Tamweel PJSC (TAMWEEL) down by 0.25% to 3.86 (with shares going ex-dividend tomorrow).

Other movements included National General Cooling Company PJSC (TABREED) up 2.1%, Amlak Finance Company (AMLAK) down 1%, National Bank of Dubai (NBD) down 1.7%, and GULFNAV down 2%.

Abu Dhabi Securities Market

A moderately busy day for ADSM with 221m of trading and a good enough rise of 0.64% to 2972 points. Aldar Properties PJSC (ALDAR) yet again in the spotlight rising 3% to 4.70 with traded value of 75m dhs.

Other rises for Abu Dhabi Islamic Bank (ADIB) up 0.9%, ARKAN up 1.7%, Emirates Telecommunications Company (ETISALAT) up 1.3%, National Bank of Abu Dhabi (NBAD) up 1.2%, Union National Bank (UNB) up 1.8%, Sorouh Real Estate (SOROUH) up 0.35%, Sudan Telecom Company Ltd (SUDATEL) up 1.5%, and Abu Dhabi National Energy Company (TAQA) up 1%.

Most notable fall was Gulf Cement Company (GCEM) down 4.1% to 3.96. No other stocks trading significant volumes fell more than 1%.

• Discuss UAE companies at Dubai Share Talk.

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

• 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
• UNIKAI last trading day Thu 12 Apr 2007 (or Wed 11 Apr 2007)?

AGMs and EGMs (E&OE) this 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?
• UNIKAI AGM 07 Apr 2007 - 15% cash dividend approved?