UAE markets 02 Aug 2007

UAE market news & discussions for 02 August 2007 Air Arabia shares took off, so to speak, today on solid volumes and a big jump in price but otherwise it was a relatively uninspiring day for DFM and ADSM with thin volumes and small increases. 2007 first half year earnings information and updates released today for Aramex, Alliance Insurance, MashreqBank, Gulf Navigation and Union Properties. ESCA announced the the approval for Emaar to buyback shares had expired, and Emaar had not made any purchases. Shuaa got the same letter, although they did buy back some shares along the way. Agility (Public Warehousing) EGM approved the 20% bonus shares.

• 02 Aug 2007 UAE business and stock news
• 2007 Q2 results for DFM and ADSM companies
• AABAR 2007 H1 profit AED 25m -61%, Q2 profit AED 23m +17%
• Dubai Property - Boom or Bust? GW 01 Aug 2007
• EBI 2007 H1 profit AED 1.20bn +24%, Q2 profit AED 626m +70%
• EMAAR - share buyback approval expires - 02 Aug 2007
• EMAAR, The Economic City AED 250m contract with Huta PR 02 Aug 07
• IFA investment in bank in Portugal - 02 Aug 2007
• RAKCEC enters a partnership ... with who? 02 Aug 2007
• SHUAA - share buyback approval expires - 02 Aug 2007
• SOROUH invests in RealMAROC project says RealCAPITA - GDN 02 Aug 07
• TAQA to buy and develope power plants in Canada - R 01 Aug 2007
• TAQA BOD meeting approves AED 3.67 bn notes program - 01 Aug 07
• UPP 2007 profit H1 AED 295m +26%, Q2 AED 154m +26% from 2006
• UAE 2007 H1 results exceed expectations - Gulf News 02 Aug 2007

More UAE stock market news and discussions...

best stock rises symbol price change IFA 13.20 +1.70 +14.8% ADNIC 8.75 +0.75 +9.4% MAZAYA 7.55 +0.55 +7.9% DRIVE 3.28 +0.23 +7.5% AIRARABIA 1.21 +0.08 +7.1%

worst stock falls symbol price change UNION 2.20 -0.19 -7.9% ABNIC 8.00 -0.67 -7.7% DNIR 3.34 -0.17 -4.8% NMDC 4.26 -0.19 -4.3% NBD 8.85 -0.30 -3.3%

top volume symbol value (AED) price AIRARABIA 873,473,192 1.21 EMAAR 76,144,667 10.85 ALDAR 44,442,734 6.71 TAQA 37,188,578 2.84 ARKAN 23,530,522 1.59

Dubai Financial Market

The DFMGI was up by just 0.31% to 4252 and traded value just over 1 billion dhs, with AIRARABIA responsible for over 80% of that and a storming 7% increase to 1.21. It seems unlikely to be related to results since they were already released over a week ago.

Emirates Bank International Group (EBI) rose 2.8% to 9.25 from just 5 trades, Emaar Properties PJSC (EMAAR) was up by 1.4% to 10.85 and the remainder of the actively traded stocks increasing were up by less than 1%. International Financial Advisors KSCC (IFA) topped the gainers list with just 4 small trades.

Shuaa Capital PJSC (SHUAA) fell by 2.6% to 4.87, although with just one trade today, it hardly deserves to be rated as one of DFM's more active stocks. National Bank of Dubai (NBD) was down by 3.3% to 8.85, Emirates Integrated Telecommunications Company (DU) dropped 1.2% and National General Cooling Company PJSC (TABREED), AMAN, and Arabtec Holding PJSC (ARTC) fell by less than 1%.

Abu Dhabi Securities Market

ADSM rose just 0.16% to 3451 with a relatively light 200m dhs worth of trading and a fairly even split between gainers and losers today.

Winners that were actively traded included Abu Dhabi National Energy Company (TAQA) up 3.3% to 2.84, Abu Dhabi Commercial Bank (ADCB) up 2.8% to 6.22, and Oasis International Leasing Company PJSC (OILC) up 1.3% to 1.52. National Bank of Abu Dhabi (NBAD) was up by just 0.5% from thin trading.

Losers included Abu Dhabi National Company for Building Materials (BILDCO) down 1.8% to 3.84, Aldar Properties PJSC (ALDAR) down 1.8% to 6.79, and Emirates Telecommunications Company (ETISALAT) down just 0.6% to 17.45.

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