UAE market news & discussions for 22 April 2008Both markets moved ahead today with turnover still at healthy levels. Abu Dhabi Commercial Bank saw astonishing levels of trading on a big rise after yesterday's AGM changed the dividend from cash to cash & shares, and the CEO said profits would double in 2 years on acquisitions. In March last year the CEO said ADCB's 2007 profits would rise 20%. Net profit for 2007 was AED 2.1 billion - a drop of 3%. Finance House and Arabtec also had big rises on solid trading levels. Other stock news:
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- ADCB 2007 FY profit -2.9% to Dh2.09 bn, misses own forecast 04 Feb 08
- ADCB profits to double on buyout plans - R 21 Apr 08
- ADIB 2008 Q1 profit forecast +14% to AED 189m - 02 Apr 08
- ALDAR 2008 Q1 profit forecast x2 to AED 1.1 bn - 02 Apr 08
- ARMX 2008 Q1 profit AED 36m +21% 22 Apr 2008
- ARTC 2008 FY revenue up 40% - R 25 Mar 08
- DIB 2008 Q1 profit forecast +23% to AED 522m - EFG 02 Apr 08
- DPW have taken off...
- ENBD 2008 Q1 profit forecast +24% - 02 Apr 2008
- Insider trades April 2008
- NBAD 2008 Q1 profit forecast +10% to AED 661m - 02 Apr 08
- RAKCC TNI report - 22 April 2008
- Record Dates for Bonus/Dividend
- Tabreed forecast?
- TAMWEEL 2008 Q1 results expected 22 April 2008
- TAMWEEL report Shuaa - 02 Apr 2008
- Tamweel witnessing high accumulation
- UPP 2008 Q1 profit AED 240m +69% 21 Apr 2008
- 22 April 2008 ADSM DFM DIFX disclosures & news
More UAE stock market news and discussions...
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Dubai Financial Market
The DFMGI had another good day with a 1% rise to 5777 from a solid AED 2.55 billion of turnover. Emaar Properties (EMAAR) had the top spot on traded value with AED 684m worth of shares and a decent 2.6% gain to 11.90. DFM shares were also busy, rising 2.8% to 5.85.
Arabtec (ARTC) was at the top of the gainer's list though, with a 5.05% rise to 15.60 from solid trading. Other good gains for Amlak Finance (AMLAK) up 3.5% to 4.98, Commercial Bank of Dubai (CBD) up 3.3% to 10.90, Tamweel (TAMWEEL) up 2.45% to 8.35, Dubai Investments (DIC) up 2.1% to 4.44, and remaining gainers rising less than 1% or on thin trading.
Shuaa Capital (SHUAA) headed the loser's list with a 1.6% fall to 8.17, GULFNAV was down 1.2%, GGICO 1.1%, and another 7 stocks fell less than 1%.
Abu Dhabi Securities Market
The ADSM index rose 0.36% to 5014 from AED 1.17 billion of trading, with about a third of that from trading in Abu Dhabi Commercial Bank (ADCB) shares which rose 6.36% to 7.07. Traded value was more than 3x the highest level seen in the past 12 months for the bank.
AAAIC also stood out with greater than usual trading and shares limit up (10%) to 121.00. Other good rises for Finance House (FH) up 6.1% to 11.65 on greater than usual activity, Bank Of Sharjah (BOS) up 5.9% to 3.14, Foodco Holdings (FOODCO) up 4% to 5.80, Union National Bank (UNB) up 3.4% to 8.76, Abu Dhabi National Energy (TAQA) up 1.8%, Qatar Telecom (QTEL) up 1.7%, and AGTHIA up 1.5%. The remaining gainers rose less than 1% or on thin trading.
National Marine Dredging (NMDC) was hit hard, losing 9.7% to 12.65 from greater than usual activity, Aabar Petroleum (AABAR) was down 1.8%, RAK Properties (RAKPROP) down 1.7%, AKIC down 1.7%, Dana Gas (DANA) and Abu Dhabi Islamic Bank (ADIB) lost 1.4%, Sorouh Real Estate (SOROUH) fell 1% and the remainder were down by less than 1% or on thin trading volumes.
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