UAE market news & discussions for 10 May 2007After a good week on the markets it appeared investors booked some profits before the weekend with a slight fall on DFM, but ADSM still managed a rise. AMLAK continued its climb, SOROUH joined ALDAR with a descent from yesterday's peak. FGB had a much quieter day falling slightly but ETISALAT perked up a bit. |
- 10 May 2007 UAE stockmarket and business news
- DIC 2006 FY profit AED 990m up 45% from 2005 - 28 Jan 2007
- AMLAK Share Price reach the High Limit
- FBICO 2007 Q1 financial results
- NMDC 2007 Q1 profit AED 33m +171% from 2006 Q1 loss
- DHAFRA 2007 Q1 profit AED 12.9m down 26% from 2006 Q1
- IAIC 2007 Q1 profit AED 33m down 56% from 2006 Q1
- SALAM BOD meeting 09 May 2007
- IFA 2006 FY results 01 Feb 2007 - AED 420m loss -119% from 2005
- AOIC 2007 Q1 profit AED 31m +71% from 2006 Q1
- AOIC agreement to insure AMLAK customers - PR 08 May 2007
- ARMX 2007 Q1 profit AED 30m up 42% from 2006 Q1
- FGB share price jumps but company denies knowing why 07 May 2007
- 09 May 2007 UAE stockmarket and business news
- TABREED 2006 FY profit +104% to AED 104m - 04 Feb 2007
- AMLAK profits up in 2007 and management changes - R 09 May 07
- Coffee lounge in chat room
- Sudden upward spike in DFM
- Stock Picks by Technical Analysis May 2007
- ARTC 2007 Q1 profit AED 63m up 70% from 2006 Q1
- FGB General Assembly Meeting 30 May 2007 - Why?
- VISA IPO
- FBICO 3 year AED 200m expansion plans - GN 09 May 2007
- RAKNIC 2007 Q1 profit AED 15m +45% from 2006 Q1
- TAMWEEL CEO says Abu Dhabi property will boom - 08 May 2007
More UAE stock market news and discussions...
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Dubai Financial Market
After such a strong performance yesterday, it wasn't really a surprise that the DFMGI pulled back a little to fall by 0.4% with a 4061 point close. Heavy volume of 1.8 billion dhs traded value.
Amlak Finance Company (AMLAK) followed yesterday's mammoth jump with another 4% gain to 3.38 and traded value of AED 400m. Reuters news yesterday said that Amlak Finance Company (AMLAK) were expecting strong profit growth this year.
Out of the 8 stocks rising, Shuaa Capital PJSC (SHUAA), National General Cooling Company PJSC (TABREED), Emirates Integrated Telecommunications Company (DU), Dubai Islamic Bank (DIB) all rose less than 1%. Big jump for WARE from just one small trade, other rises on trivial volumes.
Emaar Properties PJSC (EMAAR) in second place on the traded value list with a slight fall of 0.9% to 11.15. Other falls for Union Properties PJSC (UPP) down 3.6% after its big climb yesterday, Islamic Arab Insurance Company PSC (IAIC) down 2%, Arabtec Holding PJSC (ARTC) down 2.2%, and the remaing actively traded stocks falling less than 2%.
Abu Dhabi Securities Market
ADSM had a moderate rise of 0.66% to break through 3200 points, closing at 3,217 with a solid 411 dhs worth of trading.
Significant rises for Emirates Telecommunications Company (ETISALAT) up 2.1% and 60m dhs of trading, Sudan Telecom Company Ltd (SUDATEL) up 1% and 47m dhs of trading, ARKAN up 0.9%, Gulf Cement Company (GCEM) up 2.1%, National Bank of Abu Dhabi (NBAD) up 1.3%, Ras Al Khaimah White Cement Company (RAKWCT) up 2.1%, Union National Bank (UNB) up 0.8%, and Abu Dhabi Commercial Bank (ADCB) up 0.8%.
Commercial Bank International (CBI) had a 5% rise to 2.30 from much higher than usual 11m dhs of trading but just 5 trades. Other big moves from reasonable traded quantities for Ras Al Khaimah Ceramics (RAKCEC) up 7.7% and UAB up 5%.
Sorouh Real Estate (SOROUH) finally halted its rally, dropping by 1.6% to 3.69 with 92m dhs of trading putting it at the top of the traded value list for ADSM. Aldar Properties PJSC (ALDAR) was also heavily traded and continued yesterday's fall, down by 2.8% to 6.2. Other falls for Aabar Petroleum Investments Company PJSC (AABAR) down 2.8%, Foodco Holdings PJSC (FOODCO) down 3.8%, AGTHIA down 1.4%, National Marine Dredging Company (NMDC) down 3.2%. First Gulf Bank (FGB) fell back 1.9% on much lower volumes after the massive jump yesterday. Big falls for QCEM and UNION from negligible 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