UAE markets 19 Feb 2008

UAE market news & discussions for 19 February 2008 The DFM and ADSM shuffled about on modest volumes today, with both markets eventually creeping up slightly. Arkan shares fell back slightly after the company yesterday said they had no news to explain the sharp price increase on heavy trading on Sunday and Monday. DPW shares on the DIFX pulled back by 3% to $0.94 after the solid increase yesterday after the Egypt port news. The Ajman Bank IPO propectus contains financial projections through to 2013, which we've used to make some estimates of possible share prices through to 2013 based on earnings and book values. Oasis Leasing is now known as Waha Capital, and yesterday said they were planning to invest 20 billion in various businesses, including 15 billion in property. Mubadala's (a large Abu Dhabi investment company) chief operating officer, Waleed al-Muhairi, told Reuters today that they were looking to buy into energy, aerospace, and property companies. Not everyone seems to be afraid of the big bad subprime crisis then. Meeting dates announced today Abu Dhabi Aviation BOD meeting 20 February 2008? (unconfirmed, confusing disclosure) Abu Dhabi National Takaful (TKFL) BOD meeting date 24 February 2008 Aramex BOD meeting 26 February 2008 Commercial Bank International AGM date 15 March 2008 Fujairah Insurance Company (AFNIC) BOD meeting 21 February 2008 National Marine Dredging Company BOD meeting 20 February 2008 RAK Ceramics AGM date 13 March 2008 2007 FY result updates Al Mazaya Holding Company 2007 FY profits increased almost 40% to AED 418 million. The board declared a 50% cash dividend and 20% share dividend. Share price on the DFM jumped 15% today, from one small trade. Shares were not traded yesterday. Emirates Insurance Company released full financial statements Global Investment House audited financial results released Gulf Cement cash dividend 20%, share dividend 15% (unconfirmed) Invest Bank cash dividend 10%, share dividend 10% (Record Date 28 Feb 08) Oman Insurance audited financial results released RAK Ceramics 20% share dividend proposed (unconfirmed) Tabreed share dividend 7% proposed (yesterday) DubaiShareTalk latest posts

• 19 February 2008 ADSM DFM DIFX disclosures & news
• Abyaar 2007 FY profits +40% to AED 226 m - PR 12 Feb 08
• Ajman Bank profit forecasts and analysis
• Ajman Bank IPO opening price poll
• Ajman Bank IPO
• ARTC 2007 FY profit +128% to AED 494m - 19 Jan 2008
• DIB energy resource funds
• DME new Brent and Oman crude oil contracts - PR 19 Feb 08
• DP World Sokhna port deal finalised - PR 17 Feb 08
• Dubai Bank 2007 FY profits +102% to AED 211m - 18 Feb 08
• GFH AED 11 bn economic zone in Algeria - PR 18 Feb 08
• Insider trades February 2008
• MarketWatch Feb 2008 DFM ADSM
• MarketWatch DFM 01 Dec 07
• MarketWatch ADSM 17 Feb 08
• MAZAYA 2007 FY profit AED 418m - PR 19 Feb 08
• NBQ rated BBB+ by Fitch - 18 Feb 08
• OILC - Waha Capital launched with 20 bn investment plans - 18 Feb 08
• RAKCEC 2007 FY profit AED 170m +9% 30 Jan 2008

More UAE stock market news and discussions...

best stock rises symbol price change MAZAYA 11.95 +1.55 +14.9% TKFL 6.35 +0.44 +7.4% ADSB 4.79 +0.32 +7.2% ALMADINA 10.90 +0.55 +5.3% ASCANA 2.45 +0.11 +4.7%

worst stock falls symbol price change FH 9.18 -0.97 -9.6% RAPCO 4.05 -0.34 -7.7% FOODCO 3.94 -0.31 -7.3% ASMAK 6.07 -0.35 -5.5% OEIHC 40.30 -1.95 -4.6%

top volume symbol value (AED) price ARKAN 483,107,538 4.40 DFM 286,045,972 5.97 EMAAR 127,613,983 11.35 TAQA 127,045,548 3.83 SOROUH 107,981,133 9.79

Dubai Financial Market

The DFMGI rose just 0.3% from relatively low turnover of AED 806 million. DFM shares saw AED 286m worth of turnover but a small gain of 0.34% to 5.97. Emaar Properties (EMAAR) took number 2 spot in the turnover list with a 0.44% gain to 11.35.

Tabreed (TABREED) topped the actively traded gainers list with a rise of just 1.2% to 3.34, Tamweel (TAMWEEL) was up 1.1% to 6.55 and the remaining gainers rose less than 1% or on thin trading.

AMAN insurance was the worst of the losers, falling 3.05% to 27.00. Perhaps prompted by the disclosure that the General Manager had resigned. Islamic Arab Insurance (IAIC) Salama fell 2.7% to 3.58, GGICO fell 1.8% and another 5 stocks fell by less than 1%.

Abu Dhabi Securities Market

The ADSMI rose slightly by 0.19% to close at 4726, with turnover of AED 1.12 billion higher than in Dubai - an unusual event. Over a third of that was from trading in ARKAN shares which fell by 2.7% to 4.22.

Rises on turnover of greater than AED 1 million for AKIC up 3.5% to 1.72, Oasis Leasing (OILC) up 2.3% to 2.63, Aldar Properties (ALDAR) up 1.3% to 11.55, Sorouh Real Estate (SOROUH) and RAK Properties (RAKPROP) up by 1.1%, Sharjah Cement (SCIDC) up by 1.1%, and the remaining gainers up by less than 1%. Etisalat (ETISALAT) rose just 0.2% to 23.95.

Aparat from Arkan, ADAVIATION was the only other loser falling by more than 1% on turnover greater than AED 1 million. Their shares dropped 4.6% to 3.50.

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