UAE markets 17 May 2007

UAE market news & discussions for 17 May 2007 Both DFM and ADSM crumpled today. Contrary to press reports (well, one anyway), Air Arabia did not list on DFM today. But a listing date should come out of their meeting tonight. Shuaa announced a 20% cash dividend for 2006FY, and Shuaa share prices fell. The Deyaar IPO closed yesterday with reports today of 5-10 times oversubscribed (although one source claimed 25-50 times). Vision Investment from Oman gave a buy rating for Arabtec shares in a report this week. IAIC (Salama Insurance) bought back a small handful of their own shares yesterday, and shares were heavily traded today. 2007 Q1 results updated for National Real Estate and Kuwait Commercial Markets.

• Deyaar IPO AED 3.2 bn 06-16 May 2007
• EMAAR (doesn't) clarify Dubai Holding deal? 16 May 2007
• ARTC - report from Vision Investment Services (BUY) - 12 May 2007
• IAIC Salama 10% share buyback - BOD decision 07 Feb 2007
• SUDATEL 2006 FY profit AED 2.68 bn +166% from 2005 - 01 Feb 2007
• 17 May 2007 UAE financial news
• SHOP 2007 Q1 earnings - AED 13.9m +117% from 2006 Q1
• SHOP 2006 FY results released after - BOD meeting 05 Feb 2007?
• NRE 2007 Q1 earnings - AED 153m up 8.9% from 2006 Q1
• Air Arabia IPO
• SHUAA 2006 FY profit AED 262m
• Thuraya IPO
• DFM goes to London to sell shares to foreigners - 25 Apr 2007
• A correction in the reckoning
• Tips on best stocks?
• 16 May 2007 Dubai and UAE stocks - related business news
• DANA expansion in Egypt and sponsors INTERGAS IV conference
• Stock Picks by Technical Analysis May 2007
• Visa IPO
• GRAND 2007 Q1 earnings AED 249m +42% from 2006 Q1
• GRAND 2006 FY profit AED 154m -5.7% from 2005 - 01 Feb 2007
• WARE / AGILITY 2007 Q1 profit AED 558m up 8.9% from 2006 Q1
• WARE Agility 2006 FY results not submitted, trading suspended - 15 Mar 07
• AABAR 2007 Q1 profit AED 34m down 24% from 2006 Q1
• DU 2006 FY loss AED 755m, no results 2005 - 31 Jan 2006

More UAE stock market news and discussions...

best stock rises symbol price change DRIVE 2.26 +0.20 +9.7% OEIHC 19.25 +1.60 +9.1% ARIG 2.96 +0.18 +6.5% QTEL 241.10 +11.10 +4.8% AKIC 1.60 +0.07 +4.6%

worst stock falls symbol price change ADSB 2.66 -0.23 -8% AGTHIA 1.47 -0.07 -4.5% ASMAK 6.16 -0.28 -4.3% RAKPROP 1.38 -0.06 -4.2% ADIB 51.15 -2.00 -3.8%

top volume symbol value (AED) price IAIC 371,407,525 3.04 EMAAR 328,830,624 11.25 DIB 163,328,106 9.02 DFM 157,972,317 3.12 TABREED 140,673,097 2.57

Dubai Financial Market

The DFMGI fell by 0.9% to 4129 points on sizeable traded value of 1.4 bn, Emaar receiving another battering falling by 2.6% to 11.15 with a total value of 329m dhs worth traded. Amlak Finance Company (AMLAK) and Shuaa Capital PJSC (SHUAA) also hit relatively hard with a 2.4% and 2.5% loss respectively. AMAN received a 2.7% dunking on light trading. Other shares falling were Aramex PJSC (ARMX) down 1.7%, DFM down 1%, Dubai Islamic Bank (DIB) down 1.2%, Dubai Investments PJSC (DIC) down 0.5%, Tamweel PJSC (TAMWEEL) down 1.3%.

Islamic Arab Insurance Company PSC (IAIC) rose an impressive 3.1% and topped the traded value list today. National General Cooling Company PJSC (TABREED) also with a good show - up by 2.9%. Arab Insurance Group (ARIG) a little more busy than usual and a 6.4% rise to 2.98. Emirates Integrated Telecommunications Company (DU) and Arabtec Holding PJSC (ARTC) managed to drift up by less than 1% each, Union Properties PJSC (UPP) stayed flat.

Abu Dhabi Securities Market

The ADSM index dropped 1.2% to 3305 points with 289m dhs of trades - somewhat lighter than recent sessions. Ras Al Khaimah White Cement Company (RAKWCT) was the only stock showing a gain on volumes of any note - up 2.6%. DRIVE trading volumes might have been higher had there been any sellers, shares closed limit up at 2.26.

Falls on significant trading volumes for Aabar Petroleum Investments Company PJSC (AABAR) - 1.6%, Abu Dhabi Commercial Bank (ADCB) - 1.9%, Abu Dhabi Islamic Bank (ADIB) - 3.8%, Aldar Properties PJSC (ALDAR) - 2.7%, Dana Gas PJSC (DANA) - 2.8%, AGTHIA - 4.6% breaking its recent winning streak, Emirates Telecommunications Company (ETISALAT) - 1.4%, First Gulf Bank (FGB) 0.4%, Ras Al Khaimah Properties PJSC (RAKPROP) - 2.8%, Ras Al Khaimah Ceramics (RAKCEC) - 0.5%, Sudan Telecom Company Ltd (SUDATEL) - 1.6%, Abu Dhabi National Energy Company (TAQA) - 1%, and Union National Bank (UNB) - 2.6%. ARKAN and Sorouh Real Estate (SOROUH) ended the day unchanged.

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