UAE markets 22 May 2007

UAE market news & discussions for 22 May 2007 Good days for both markets with a strong rise on DFM. Standout rises on heavy trading for Tamweel, Arkan Building Materials, Dana Gas, Dubai Financial Market, and First Gulf Bank. The UAE PM said that the dollar peg would remain for the time being which leaves Kuwait as the only GCC country delinked. The Deyaar IPO was over 14x oversubscribed - somewhat higher than the 5-10 times forecast from the CEO last week. Halliburton said they're looking at AED 300 bn worth of projects in the next few years. The UAE GDP is forecast to be AED 700 bn for 2007.

• 22 May 2007 UAE financial and business news
• AFHC - Al Futtaim HC Securities
• Kuwait drops dollar peg, GCC currency union more doubtful - 20 May 07
• Halliburton seeks investors, eyes AED 290 bn in projects - R 22 May 07
• OILC BOD meeting 02 May 2007 - CEO Dixon resignation
• ETISALAT Egypt IPO and AED 5.14 bn spending plans R 21 May 07
• SUDATEL share price up on UAE purchase of 2%
• OILC - Oasis Leasing and Boeing organise finance roundtable
• 2007 Q1 results for DFM and ADSM companies
• ESCA says 100% success 2007 Q1 filings but not all accounts available?
• 21 May 2007 UAE stocks and business news
• Deyaar IPO AED 3.2 bn 06-16 May 2007

More UAE stock market news and discussions...

best stock rises symbol price change NMDC 4.12 +0.31 +8.1% ADAVIATION 2.29 +0.13 +6% UNION 2.13 +0.11 +5.4% TAMWEEL 4.15 +0.21 +5.3% ARKAN 1.25 +0.06 +5%

worst stock falls symbol price change EIC 9.09 -1.01 -10% RAPCO 3.95 -0.43 -9.8% SUDATEL 8.13 -0.75 -8.4% ASMAK 6.11 -0.36 -5.6% ADSB 2.74 -0.06 -2.1%

top volume symbol value (AED) price DFM 204,916,312 3.22 ARKAN 177,000,830 1.25 EMAAR 147,635,495 11.30 FGB 119,860,934 15.05 DANA 114,899,616 1.50

Dubai Financial Market

A decent 1.4% rise to break through 4200 points and close at 4214 for DFM today. Moderate traded value of 800m dhs.

Tamweel PJSC (TAMWEEL) had a marvellous day with a solid 5.2% rise from 115m dhs of trading. DFM shares were at the top of the traded value table, up 2.8% to 3.25 with AED 205m worth of deals done. Emaar Properties PJSC (EMAAR) a bit less with 148m dhs of trades and a 1.8% rise to 11.40.

Other rises from active trading for GULFNAV up 2.7% and Amlak Finance Company (AMLAK) up 2.1%. The remaining high volume stocks rising 0-2%. Arab Insurance Group (ARIG) was the only loser today, down 0.3% on light trading.

Abu Dhabi Securities Market

ADSM crept up by a mere 0.08% to 3350 points but with a solid trading volume of AED 632m not far below volume at DFM.

Big rises for ARKAN up 5%, First Gulf Bank (FGB) and Dana Gas PJSC (DANA) both up 2% from over 100m dhs of trading. Each. ADAVIATION up 6%, ADNH up 1.8%, and Invest Bank (INVESTB) up 4% were unusually active today. Other rises were below 2% and/or on thin volumes.

Sudan Telecom Company Ltd (SUDATEL) the loser of note today, after a limit down day yesterday crashed another 8.5% from a substantial 44m dhs worth of trades. AGTHIA copped a 1.9% fall while Abu Dhabi Commercial Bank (ADCB), Aldar Properties PJSC (ALDAR), Emirates Telecommunications Company (ETISALAT), Gulf Cement Company (GCEM), National Bank of Abu Dhabi (NBAD), Gulf Cement Company (GCEM), Sorouh Real Estate (SOROUH), and Union National Bank (UNB) all had small losses of less than 1%. Other big decreases were from limited trading.

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