UAE market news & discussions for 15 May 2007Solid gains for many stocks on DFM, and to a lesser extent on ADSM with healthy volumes, cocking a snook at speculation that liquidity was being sucked out for the Deyaar IPO which closes tomorrow. A deluge of 2007 first quarter results released today - 20 companies with preliminary and/or full financial statements. TAQA (Abu Dhabi National Energy Company) announced a choice of profit figures for 2007 Q1 - the press release said AED 680m, the Chairman and the financial accounts said AED 64m. DANA Gas profits were down 59%. Results also from ABNIC, ADNIC, ASMAK, DNIR, DRC, IFA, JEEMA, OEIHC, SUDATEL and UFC. |
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- 15 May 2007 UAE stockmarket and business news
- TAQA 2007 Q1 profit AED 94m down 9.2% from 2006 Q1
- DANA Gas 2007 Q1 profit AED 21m down 59% from 2006 Q1
- OEIHC 2007 Q1 earnings announcement 15 May 2007
- DRC 2007 Q1 loss AED -6.9m dhs down 1705% from 2006 Q1
- AMLAK 2007 Q1 earnings AED 24m
- GGICO 2007 Q1 earnings
- UFC 2007 Q1 profit AED 1m +36% from 2006 Q1
- ABNIC 2007 Q1 profit AED 30m up down 46% from 2006 Q1
- QTEL 2007 Q1 profit AED 522m up 28.5%
- PALTEL 2006 FY profit AED 293m -19% on 2005 - 01 Feb 2007
- ADCB changes in board of directors - 15 May 2007
- SUDATEL 2007 Q1 results
- SHUAA 2006 FY profit AED 262m
- GRAND 2007 Q1 earnings - BOD meeting 15 May 2007
- DNIR 2007 Q1 profit AED 7.8m +3.3% from 2006 Q1
- TAMWEEL 2007 Q1 profit AED 50m +395% on 2006 Q1
- UPP 2007 Q1 profit AED 140m +25% on 2006 Q1
- WARE / AGILITY 2007 Q1 earnings - BOD meeting 14 May 2007
- JEEMA 2007 Q1 earnings
- IFA 2007 Q1 profit AED 144m +138% from 2006 Q1 loss
- ASMAK 2007 Q1 profit AED 1.3m +151% from 2006 Q1 loss
- ADNIC 2007 Q1 profit AED 185m -9.8% from 2006 Q1
- NMDC 2007 Q1 profit AED 33m +171% from 2006 Q1 loss
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More UAE stock market news and discussions...
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Dubai Financial Market
DFM had a decent enough 1% rise to 4234 from 1.8 bn dhs of trading with most actively traded shares rising today.
Good gains on strong volumes for National General Cooling Company PJSC (TABREED) up 7.3% to 2.64, Aramex PJSC (ARMX) up 3.6%, Dubai Islamic Bank (DIB) up 2%, and Amlak Finance Company (AMLAK) up 2.1%. Arabtec Holding PJSC (ARTC), Emirates Integrated Telecommunications Company (DU), Dubai Investments PJSC (DIC), Emaar Properties PJSC (EMAAR), GULFNAV, Tamweel PJSC (TAMWEEL), and Union Properties PJSC (UPP) all rose about 1% (Emaar noted for not making the top five list by value). Islamic Arab Insurance Company PSC (IAIC) crept up by just 0.4%.
Shuaa Capital PJSC (SHUAA) down 1.2%, GGICO down 0.8%, and DFM down 0.6% the only losers on active trading.
Abu Dhabi Securities Market
ADSM with a less exciting rise of just 0.34% to 3,333 today but traded value of AED 618m dhs was impressive.
AGTHIA had another stunning day with a decent 7.4% jump to 1.45. Invest Bank (INVESTB) went limit up on much heavier than normal trading - is it a possible merger or takeover target? Steady gains also from First Gulf Bank (FGB) up 3.3%, Aabar Petroleum Investments Company PJSC (AABAR) up 3.1%, Abu Dhabi Islamic Bank (ADIB) up 4.2% on heavy trading, AKIC up 4.7%, Union National Bank (UNB) up 1.2%, and Abu Dhabi National Energy Company (TAQA) up 2.9%. Other rises were smaller and/or on low volumes.
Losses of note for Gulf Cement Company (GCEM) down 2.3%, Abu Dhabi Commercial Bank (ADCB) down 1.1%, Sorouh Real Estate (SOROUH) down 1%, and ARKAN down 0.8%.
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