UAE market news & discussions for 23 May 2007Another good day for both markets, ADSM especially with a strong rise and good trading volume, with Taqa heading limit up on big volumes - something must be up. Al Fujairah National Insurance Company was a new listing on ADSM today, but its single trade probably didn't have much influence on the market overall. Salama bought back another 100k of its own shares on DFM two days ago - at this rate it will take a few years to complete the buyback. |
- EFS - Emaar Financial Services - Website Blocked?
- FNI - Al Fujairah National Insurance lists on ADSM today
- 23 May 2007 UAE business and financial news
- GRAND 2007 Q1 earnings AED 249m +42% from 2006 Q1
- IAIC Salama 10% share buyback - BOD decision 07 Feb 2007
- EMAAR underscores investor relations in London - 23 May 2007
- DFM 2007 Q1 earnings AED 563m (AED 95m excluding IPO income)
- WARE / AGILITY acquires Egypt's Leader Group - DFM 23 May 07
- SUDATEL 2006 FY profit AED 2.68 bn +166% from 2005 - 01 Feb 2007
- QTEL and ATCO to buy majority of Pakistan's Burraq Telecom
- NRE 2006 FY results - announced 08 Feb 2007
- DIC > M'Sharie > Int'l Rubber Co > West Bay contract in Qatar - 21 May 07
- AMLAK expansion plans for Morocco and elsewhere - R 22 May 2007
- 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
- Etisalat Misr subscriber numbers going well - GN 22 May 07
- 22 May 2007 UAE financial and business news
- DFM share - any ground for this rally? April-May 2007
- DFM 2007 FY profit forecast AED 820-1200m
- GFH - Khaleeji Commercial Bank 233% capital increase - 21 May 07
- UAE GDP to reach AED 697 bn in 2007 - WAM 22 May 2007
- BOS 2007 Q1 profit AED 64m +10.2% from 2006 Q1
- ALDAR to borrow AED 7.7 bn from NBAD, DIB, FGB, ADCB - 21 May 07
- ALDAR Academies LLC to build 20 schools in Abu Dhabi - 10 May 07
- CBD forms Asset Management JV with Rasmala Investments - 06 May 07
More UAE stock market news and discussions...
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Dubai Financial Market
The roadshow in London must be going well. Almost AED 2 billion of traded value on DFM today and another robust 1.3% rise to 4268 points.
Arabtec Holding PJSC (ARTC) looking good with a very handy 3.9% rise to 5.27 and a weighty 276m dhs of trading. DFM shares at the top of the volume list but only a 0.9% rise to 3.28 while Emaar Properties PJSC (EMAAR) was up 1.3%. Aramex PJSC (ARMX), Tamweel PJSC (TAMWEEL) and Union Properties PJSC (UPP) all rose 2-3%, the rest of the busy stocks rose less than 2%.
Other rises worth a comment for Commercial Bank of Dubai (CBD) up 4.9% on higher than normal trading volumes, and International Financial Advisors KSCC (IFA) with a big 14.4% rise but only three small trades.
Abu Dhabi Securities Market
Almost everything else was up. A storming day for ADSM with a 2.1% rise to 3419 and trading volume a very impressive AED 884m. Only 6, mostly obscure, stocks falling - AGTHIA standing out in the list but thin trading and just a 1.3% decrease.
Abu Dhabi National Energy Company (TAQA) was the standout stock today heading 10% limit up to 2.33 with no sellers in the queue, and AED 162m traded value. Depending on when whatever news comes out that's prompted this rally, chances are it will be up again tomorrow.
Other rises on big volumes for Abu Dhabi Commercial Bank (ADCB) up 4.2%, Abu Dhabi Islamic Bank (ADIB) up 2.6%, National Bank of Abu Dhabi (NBAD) up 4.8%, NBS / SIB up 2.7% on a surprisingly large quantity of shares traded, Oasis International Leasing Company PJSC (OILC) up 1.8%, Aldar Properties PJSC (ALDAR) up 3.4%, Ras Al Khaimah Properties PJSC (RAKPROP) up 2.8%, Sorouh Real Estate (SOROUH) up just 1.5% but a massive AED 183m of trading, Aabar Petroleum Investments Company PJSC (AABAR) up 3.5%, Dana Gas PJSC (DANA) up 2%. DHAFRA was flat at 5 dhs but an astounding 3.2m shares were traded (usually they're close to 0).
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