UAE market news & discussions for 01 May 2007ADSM and DFM headed in opposite directions today with DFM's own shares dragging the index up. First quarter 2007 results released so far today from ALDAR (fiddling with land valuations again), UPP (also fiddling with land valuations), GULFNAV (IPO income making them look good), ADSB, DU Telecom (not losing as much as they thought they would), PALTEL and QCEM. FGB announced a JV with ALDAR, SOROUH, and Reem Investments to set up an Islamic Finance company - would be ironic if they applied and received a bank licence after the rejections for AMLAK and TAMWEEL. SICO (Securities & Investment Company) in Bahrain says GCC stocks are 20% undervalued. NBAD is going to set up a private banking unit in Switzerland. More news from Saudi about the massive $100 billion bank proposal, but renamed to Eamar from Emaar. |
- SICO of Bahrain says GCC markets 20% undervalued
- 01 May 2007 UAE stockmarket and business news
- Al Baraka - AED 370bn(!) Emaar Islamic Bank IPO in Bahrain 29 Mar 07
- FGB, ALDAR, SOROUH, Reem to launch Aseel Finance (Islamic financing)
- GULFNAV 2007 Q1 profit AED 24m +678% from 2006 Q1
- MASQ 2007 Q1 profit AED 445m +30% from 2006 Q1
- DIB receives approval to establish Islamic Bank in Syria - 30 Apr 2007
- EMAAR to develop AED 2.2 bn project in Lombok, Indonesia - 30 Apr 2007
- JULPHAR rights issue and bonus shares April 2006
- OEIHC Oman Emirates 2006 FY results not submitted 14 Mar 2007
- 2007 Q1 results for DFM and ADSM companies
- OILC BOD meeting 02 May 2007
- QCEM 2006 FY loss AED 11.2m -106% from 2005 - 31 Jan 2007
- QCEM 2007 Q1 earnings
- TABREED 2006 FY profit +104% to AED 104m - 04 Feb 2007
- ADSB 2007 Q1 earnings
- PALTEL 2007 Q1 earnings
- AMLAK bank licence application fails, plans AED 1.1 bn sukuks 29 Mar 2007
- where did the chat go
- ALDAR 2007 Q1 profit AED 451m +79% from 2006 Q1
- DU 2007 Q1 earnings AED 216m loss
- 30 April 2007 UAE stockmarket and business news
- UPP 2007 Q1 profit AED 140m +25% on 2006 Q1
- DIC 2006 FY profit AED 990m up 45% from 2005 - 28 Jan 2007
- NCTH 2007 Q1 results
More UAE stock market news and discussions...
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Dubai Financial Market
DFM was looking good today, both the market and their own shares which rose 5.7% to 2.80 on huge traded value of 594m dhs. The index was up a solid 1.3% to 3870 points with total traded value of AED 1.48 billion.
Other heavily traded shares were Dubai Islamic Bank (DIB) up 2.3%, GULFNAV up 2.7%, and Tamweel PJSC (TAMWEEL) up 2.5%. Emaar Properties PJSC (EMAAR) remains subdued, only 170m dhs of trading and a 1.9% increase to 10.95. Amlak Finance Company (AMLAK) had a better day with 4.7% increase but relatively low volumes. All other actively traded shares rose by 0-2%, except for AMAN which fell marginally.
Abu Dhabi Securities Market
ADSM disappointed a little today with a fall of 0.3% to 3044 points from a sizeable 288m dhs of trading. Once again, trading was dominated by Gulf Cement Company (GCEM) but taking a slight breather from its steep ascent with 2.4% decrease to 6.93.
Rises on significant volumes for Ras Al Khaimah White Cement Company (RAKWCT) up 3.4%, Ras Al Khaimah Cement Company (RAKCC) up 0.5%, Sorouh Real Estate (SOROUH) up 1.4%, Dana Gas PJSC (DANA) up 1.5%, DRIVE taking off again with a 4.8% rise, Finance House PJSC (FH) up 5.2%, Oasis International Leasing Company PJSC (OILC) up 0.8%, ADAVIATION up a surprising 6.5%, Aldar Properties PJSC (ALDAR) up 3.2%.
Notable falls for ADNH down 9.9%, ARKAN down 0.8%, National Bank of Abu Dhabi (NBAD) down 1.6%, and QCEM down 7.3%.
- Comment on this report and view previous reports on the Share Wadi blog.
- Discuss UAE companies at Dubai Share Talk.
Last Trading Days this week - Record Date is two days later (E&OE)
- DIC last trading day 01 May 2007 - probably postponed as AGM was postponed
- JEEMA last trading day 30 Apr 2007.
- TABREED last trading day - possibly 30 Apr 2007? Or 06 May 2007?
AGMs and EGMs (E&OE) this week
- AABAR AGM 01 May 2007 - deferred from 24 April 2007
- ASMAK AGM 29 Apr 2007 - postponed from 28 Mar 2007 and 22 Apr 2007, no cash or share dividends.
- DANA AGM 29 April 2007 - no dividends.
- DDC AGM 30 Apr 2007
- DIC AGM 01 May 2007 - deferred from 23 Apr 2007
- IAIC AGM 29 Apr 2007 - no dividends.