UAE markets 09 May 2007

UAE market news & discussions for 09 May 2007 A huge day on the markets today with solid increases on the back of very strong trading volumes. FGB rose sharply, AMLAK went limit up, ALDAR fell badly, EMAAR recovered its top traded value spot and rose, UPP leapt, GCEM started climbing again, and AGTHIA's strong rally faded. First quarter 2007 results released for AEIBANK and RAKNIC. TABREED bonus shares were deposited in shareholder accounts today. AGTHIA joined the increasing list of companies claiming ignorance of any information prompting sharp increases in share price, including ALDAR and SOROUH two days ago. Gulf News reported that the ALDAR CEO said ALDAR were looking at a large purchase of a European company, and ALDAR disclosure to ADSM said they were going to sign up for a project in Kazakhstan. SOROUH also in the news with reports of them seeking AED 3.7 billion of project finance. If that's not information relevant to shareholders, what is? The TAMWEEL CEO said Abu Dhabi property is going to boom.

• 09 May 2007 UAE stockmarket and business news
• RAKNIC 2007 Q1 profit AED 15m +45% from 2006 Q1
• TAMWEEL CEO says Abu Dhabi property will boom - 08 May 2007
• ALDAR to buy European company - in Kazakhstan? 09 May 2007
• Air Arabia 2007 Q1 profit AED 43m
• EIB to provide Islamic Finance with Kazakhstan's JSC Bank - 08 May 2007
• SOROUH share price soars but company denies knowing why 07 May 2007
• SOROUH plans to borrow AED 3.7 bn for project financing
• ALDAR share price rips but company denies knowing why 07 May 2007
• AGTHIA share price increasing, info needed
• Access to Asian markets from Dubai
• TABREED 2006 FY profit +104% to AED 104m - 04 Feb 2007
• ARTC 2007 Q1 profit AED 63m up 70% from 2006 Q1
• DFM Share prices via SMS?
• AEIBANK 2007 Q1 profit AED 7.5m +57% from 2006 Q1
• 08 May 2007 UAE stockmarket and business news
• cofee lounge
• Stock Picks by Technical Analysis May 2007
• RAKPROP 2007 Q1 earnings AED 104m up 26% from 2006 Q1
• DIC 2006 FY profit AED 990m up 45% from 2005 - 28 Jan 2007
• 2007 Q1 results for DFM and ADSM companies
• ADIB - Egypt's NDB / NBD 2007 Q1 loss of AED 5.14m
• TAMWEEL 2007 Q1 profit AED 50m +395% on 2006 Q1
• OILC 10:1 stock split on Sun 13 May 2007
• AABAR 2006 FY profit AED 93m -85% from 2005, Cash Div 5%

More UAE stock market news and discussions...

best stock rises symbol price change GFH 7.47 +0.97 +14.9% IFA 8.79 +1.14 +14.9% AMLAK 3.14 +0.42 +15.4% NBQ 4.00 +0.36 +9.9% UPP 2.72 +0.22 +8.8%

worst stock falls symbol price change UAB 5.43 -0.60 -10% OEIHC 17.70 -1.85 -9.5% NCTH 3.64 -0.33 -8.3% NMDC 4.03 -0.26 -6.1% FH 9.32 -0.47 -4.8%

top volume symbol value (AED) price EMAAR 564,144,578 11.20 AMLAK 359,208,303 3.14 IAIC 267,817,115 2.93 ARTC 249,633,351 5.08 DFM 241,879,458 3.04

Dubai Financial Market

DFM rose an impressive 2.4% to decisively break through the 4000 point level and close at 4076. A massive AED 2.65 billion worth of shares were traded with most stocks rising and only 3 falling.

Stock of the day award goes to Amlak Finance Company (AMLAK) going the maximum limit up (15%) to close at 3.25 and traded value of 359m dhs. Has there been a change in the Central Bank policy on bank licences in favor of Amlak Finance Company (AMLAK)? Tamweel PJSC (TAMWEEL), in contrast, had a subdued day with a small 1.9% rise. Emaar Properties PJSC (EMAAR) was back in the trading arena after a few quiet days with a 2.7% rise from 564m dhs of trading.

Other admirable performances for Union Properties PJSC (UPP) up 8.7% on huge volumes, Islamic Arab Insurance Company PSC (IAIC) up 4.6% on even bigger volumes, Aramex PJSC (ARMX) up 3%, DFM up 2.3%, Dubai Investments PJSC (DIC) up 3%, GULFNAV up 3.7%, Shuaa Capital PJSC (SHUAA) up 2.6%, National General Cooling Company PJSC (TABREED) up 3.7%. GFH and International Financial Advisors KSCC (IFA) looked impressive with 15% increases but that was from only 1 small trade in each company.

The only fall of note was Arabtec Holding PJSC (ARTC) dropping by 1.2% to 5.04 from a hefty AED 250m of trading - not entirely unexpected after yesterday's massive gain.

Abu Dhabi Securities Market

The ADSM index rose 0.85% to 3196 with a healthy traded volume of AED 577m with a majority of stocks rising.

A big rise on solid volume of 68m dhs for First Gulf Bank (FGB) up 7.6% to 13.45. Sorouh Real Estate (SOROUH) heavily traded again and still rising - up 3.9% to 3.75 from 151m dhs worth of deals. Sudan Telecom Company Ltd (SUDATEL) another stock shining today with big volume and a 2.6% rise to 10.15. Gulf Cement Company (GCEM) seems to be taking off again after a brief pause, rising 6% to 6.08 on modeerate trading.

Other increases worth noting for Abu Dhabi Commercial Bank (ADCB) up 3.4%, ADNH up 4.1%, ARKAN up 0.9%, Ras Al Khaimah White Cement Company (RAKWCT) up 5%, Ras Al Khaimah Properties PJSC (RAKPROP) up 2.3%, Ras Al Khaimah Cement Company (RAKCC) up 1%, Union National Bank (UNB) up 1%. NBQ was limit up 10% from just 2 trades but there were no more sellers in the queue.

Notable falls from UAB heading 10% limit down to 5.43 and no buyers in the queue, Oasis International Leasing Company PJSC (OILC) down 0.9% on solid trading, NBS (SIB) down 2.7%, Abu Dhabi National Energy Company (TAQA) down 2.4%, Aabar Petroleum Investments Company PJSC (AABAR) down 1.2%, and Aldar Properties PJSC (ALDAR) down 2.5%.

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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