GCEM big jump 16 Apr 07

UAE market news & discussions for 16 April 2007 The Kuwait Stock Exchange shows DFM how to deal with companies that aren't clear to shareholders about major developments by suspending trading in MTC shares. EMAAR still hasn't released details about the Dubai Holding deal despite saying they would within two weeks - over three weeks ago. NMDC dividend went from 15% to 20% after AGM. FOODCO AGM approved dividends. ARMX and UPP hold their AGMs today. ARTC shares go ex-dividend tomorrow.

• UFC 2006 FY results 31 Jan 2007
• DNIR 2006 FY profit AED 29m -90% from 2005
• NBD launches new call center - PR 15 April 2007
• Jazeera Airways 2006 FY profit AED 32m - PR 15 April 2007
• EMAAR Misr growth plans post-acquisition - PR 16 Apr 2007
• TAQA CEO briefing to bondholders in London 23 April 2007
• DIC subsidiary Emirates Thermostone will double capacity PR 16 Apr 2007
• 2007 Q1 results for DFM and ADSM companies
• ARMX 2005 FY profit AED 95m +28% on 2005 - conflicting revenues
• UPP 2006 FY profit AED 614m +5% from 2005
• ARTC 2006 FY profit AED 217m up 30% from 2005 - GN 22 Jan 2007
• DIN 2006 FY results - not reviewed yet
• WARE & NRE - share prices fall on cancelled contracts? 26 Nov 2006
• ARIG 2006 FY profit AED 112m -37% from 2005 - 29 Jan 2007
• NBAD 2007 Q1 results
• NMDC 2006 FY profit AED 44m
• ALDAR 2007 Q1 earnings
• FOODCO 2006 FY profit AED 60m -55% from 2005 - 30 Jan 2007
• DFM becomes a member of IASCO?? - 15 Apr 2007
• Air Arabia IPO sucks liquidity from the market. Really? 16 Apr 07
• Broker's minimum balance or trade value - please add info
• EMAAR landbank to double, Dubai Holding gets convertible bond 19 Mar 07
• DU introduces bill payment via sms - PR 15 Apr 2007
• KSE stops trading in MTC shares pending clarification 15 Apr 2007
• SSM TASI Kayan Petrochemicals IPO

More UAE stock market news and discussions...

best stock rises symbol price change ASMAK 4.86 +0.44 +10% FCI 4.49 +0.26 +6.1% GCEM 4.53 +0.26 +6.1% ADAVIATION 2.00 +0.10 +5.3% DFM 2.36 +0.09 +4%

worst stock falls symbol price change ADNIC 7.55 -0.40 -5% OEIHC 18.90 -1.00 -5% DNIR 3.09 -0.16 -4.9% NCC 10.20 -0.50 -4.7% FH 7.86 -0.33 -4%

top volume symbol value (AED) price DIB 256,013,099 7.13 EMAAR 190,196,932 11.15 DFM 98,662,778 2.36 TAMWEEL 48,498,664 3.41 GCEM 32,575,299 4.53

Dubai Financial Market

DFM bounced back a little after yesterday's unnerving fall. The index closed up 0.27% at 3796 points on solid volume of 714m dhs led by a small increase in Dubai Islamic Bank (DIB) shares, up 1.3% to 7.09 on traded value of 256m dhs. Emaar Properties PJSC (EMAAR) pushed to second place on volume once again, with a small fall of 0.4% to 11.15.

DFM shares were up by a decent 3.9% to 2.40, and Union Properties PJSC (UPP) not far behind with a 3.2% rise to 3.25.

Only three losers of note today, Amlak Finance Company (AMLAK) down 1.7%, Emirates Integrated Telecommunications Company (DU) down 0.4%, and Shuaa Capital PJSC (SHUAA) down 0.5%.

Abu Dhabi Securities Market

The ADSM index fell again today, down by 0.5% to 3014 points with just over 100m dhs worth of trading. However, an astounding day for Gulf Cement Company (GCEM) shares which rocketed ahead by 6.1% to 4.53 on a huge 32.5m dhs worth of trading - top of the ADSM tree by value. Are we getting a good 2007 Q1 earnings announcement?

Decent rises for National Bank of Abu Dhabi (NBAD) up 2.3%, and ASMAK which was limit up and no sellers in the queue at 4.52 dhs/share. Limited volumes of only 57,000 shares but that's more than usual for them.

Emirates Telecommunications Company (ETISALAT) fell by 1.9% on low volume, Finance House PJSC (FH) down by 7% on higher than usual trading but still very light at only 88,000 shares in total. First Gulf Bank (FGB) fell marginally by 0.4% but traded value of 23m was second highest on ADSM. Other falls were less than 1% or on very light 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 - Mon 16 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
• ARMX AGM 16 April 2007 - deferred from 03 Apr 2007
• DRIVE AGM 17 April 2007
• FOODCO AGM 15 Apr 2007 - 10% cash dividend, 16.29% bonus shares approved
• NMDC AGM 15 April 2007 - 15% cash dividend proposed, 20% approved.
• TABREED AGM Thu 19 Apr 2007 - postponed twice from 20 Mar 2007
• UPP AGM 16 April 2007