UAE markets 08 May 2007

UAE market news & discussions for 08 May 2007 A good day for Arabtec with 2007 first quarter results out and a big rise in their share price. Tamweel also released 2007 Q1 results but received a lacklustre response from the market. The CEO once again making the questionable claim that Tamweel have the highest dividend yield in the market. Egypt's National Development Bank, which ADIB is buying, lost AED 5m for 2007 Q1. Julphar also released 2007 first quarter results today but it doesn't really count since they already released them a month ago. Aabar Petroleum AGM approved a 5% cash dividend - last trading day for dividend entitlement this Thursday. DIC shares went ex-dividend today. DFM shares continue to be heavily traded. ALDAR and SOROUH continued their relentless rises on the back of company denials of knowing why. SOROUH with a limit up day, AGTHIA also limit up but no company denial of having information relevant to the rally yet. The GCEM and OILC rallies have fizzled out. EMAAR is being ignored by the market, which seems appropriate while EMAAR ignores their shareholders - they still haven't released the promised information about the Dubai Holding deal.

• Stock Picks by Technical Analysis May 2007
• ADIB - Egypt's NDB / NBD 2007 Q1 loss of AED 5.14m
• ARTC 2007 Q1 profit AED 63m up 70% from 2006 Q1
• TAMWEEL 2007 Q1 profit AED 50m +395% on 2006 Q1
• 08 May 2007 UAE stockmarket and business news
• DIC 2006 FY profit AED 990m up 45% from 2005 - 28 Jan 2007
• OILC 10:1 stock split on Sun 13 May 2007
• AABAR 2006 FY profit AED 93m -85% from 2005, Cash Div 5%
• JULPHAR 2007 Q1 earnings AED 31m up 114% from 2006 Q1
• SOROUH - changes in board members 08 May 2007
• AGTHIA 2007 Q1 earnings
• 2007 Q1 results for DFM and ADSM companies
• 07 May 2007 UAE stockmarket and business news
• EBI - expansion plans in UAE, Kuwait, Qatar, Saudi - 07 May 2007
• GCEM big share price rise on heavy trading 16 Apr 2007
• Need info on AGTHIA
• TAQA to buy CMS Energy power plants in Morocco and India - PR 06 Feb 07
• TAMWEEL share split?
• SHUAA 2006 FY profit AED 262m
• NBS / SIB - ASAS Real Estate Company
• SOROUH share price soars but company denies knowing why 07 May 2007
• GMPC 2007 Q1 profit AED 11m +12.3% from 2006 Q1
• ADNH 2007 Q1 profit AED 135m +83% on 2006 Q1
• ASCANA 2007 Q1 profit AED 3.36m up 137% (?) from 2006 Q1
• 06 May 2007 UAE stockmarket and business news

More UAE stock market news and discussions...

best stock rises symbol price change ARTC 4.88 +0.61 +14.3% SOROUH 3.61 +0.33 +10.1% ADNH 4.38 +0.39 +9.8% ASMAK 4.70 +0.41 +9.6% AGTHIA 1.39 +0.11 +8.6%

worst stock falls symbol price change OEIHC 19.55 -2.15 -9.9% NBQ 3.64 -0.36 -9% SCIDC 3.42 -0.11 -3.1% UCC 4.30 -0.11 -2.5% DIC 4.00 -0.10 -2.4%

top volume symbol value (AED) price DFM 769,806,456 3.03 ALDAR 219,952,181 6.49 DIB 182,219,216 8.58 ARTC 157,239,027 4.88 DIC 109,562,768 4.00

Dubai Financial Market

The DFM index cracked the 4000 points level today, but only just, and closed at 3982 points, up 0.66% from yesterday. Total traded value was a solid AED 1.5 bn - half of that from trading in DFM's own shares with a 1% rise to 2.98. Emaar Properties PJSC (EMAAR) pushed down to 5th place on the DFM traded value list with a 0.9% rise to 10.95.

Heavy trading for Arabtec Holding PJSC (ARTC) with an splendid 13.6% rise to 5.10 after first quarter results making them look like one of the cheapest shares on the market. Also heavily traded was Dubai Islamic Bank (DIB) up 1% and Dubai Investments PJSC (DIC) down 2.5% but effectively rising slightly after going ex-dividend since cash dividend yield was just over 3%.

Other active shares were Amlak Finance Company (AMLAK) with no change in price, Aramex PJSC (ARMX) up 1%, Emirates Integrated Telecommunications Company (DU) down 0.2%, Islamic Arab Insurance Company PSC (IAIC) up 0.4%, Shuaa Capital PJSC (SHUAA) up 0.4%, National General Cooling Company PJSC (TABREED) down 0.5%, Tamweel PJSC (TAMWEEL) down 0.3% and Union Properties PJSC (UPP) with price unchanged.

Emirates Bank International Group (EBI)'s promising 3.3% rise came from just two small trades.

Abu Dhabi Securities Market

ADSM headed up by 0.4% to 3169 points with a very solid 606m dhs worth of trades. Over a third of that from trading in Aldar Properties PJSC (ALDAR) which ended the day a respectable 3.5% up at 6.49.

Bidding for Sorouh Real Estate (SOROUH) shares at close was at the 10% limit up price of 3.67 with no sellers in the queue. A similar scenario for AGTHIA at 1.40, and ADNH at 4.38.

Other rises on active trading for Abu Dhabi National Energy Company (TAQA) up 4%, Union National Bank (UNB) up 2.4%, Finance House PJSC (FH) up 2.2%, ARKAN up 1.8%, and Aabar Petroleum Investments Company PJSC (AABAR) up 2.9%. Emirates Telecommunications Company (ETISALAT) was unchanged at 16.60.

Falls of 1.9% for Abu Dhabi Commercial Bank (ADCB), 1.5% for Abu Dhabi Islamic Bank (ADIB), and less than 1% for Dana Gas PJSC (DANA), Gulf Cement Company (GCEM), National Bank of Abu Dhabi (NBAD), Oasis International Leasing Company PJSC (OILC), and Sudan Telecom Company Ltd (SUDATEL). Other movements were on slim trading.

• 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 07 May 2007 - postponed from 01 May 2007
• OILC last trading day - Thu 10 May 2007 before 10:1 stock split on Sun 13 May 2007 (trading will be suspended)
• TABREED last trading date - 06 May 2007 (DFM statement)

AGMs and EGMs (E&OE) this week

• AABAR AGM 07 May 2007 - deferred from 24 April 2007 and 01 May 2007