UAE markets 04 Jun 2007

UAE market news & discussions for 04 June 2007 Attention moved from DFM (falling) to ADSM (rising) today, ADSM total traded value almost 50% more than at DFM - quite a turnaround from it usually being half or less. Increased activity probably prompted by news of Abu Dhabi Securities Market roadshow to London and New York. DFM disclosed news of Arabtec's Phase 2 contract with ADNEC that may or may not be a month old. Shuaa announced allocations for the Deyaar IPO which were decent if you're a teacher. BOD of Al Salam Bank in Bahrain said they were recommending a 10:1 stock split (several UAE listed companies are amongst the founders). RAK Ceramics said they were expanding their plant based at Gaoyao City in China.

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• 04 Jun 2007 UAE stocks and business news
• Deyaar IPO AED 3.2 bn 06-16 May 2007
• RAKCEC Gaoyao plant expansion and RAK-China trade 03 Jun 2007
• ARTC - receives AED 778m ADNEC contract 04 May or Jun 2007
• Stock Picks by Technical Analysis June 2007
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More UAE stock market news and discussions...

best stock rises symbol price change NBS 2.81 +0.25 +9.8% RAKBANK 6.56 +0.56 +9.3% INVESTB 2.80 +0.22 +8.5% DRIVE 2.73 +0.21 +8.3% BOS 2.61 +0.18 +7.4%

worst stock falls symbol price change FH 8.42 -0.56 -6.2% OEIHC 16.00 -1.00 -5.9% RAKNIC 4.01 -0.19 -4.5% ARIG 3.10 -0.14 -4.3% GCEM 5.42 -0.24 -4.2%

top volume symbol value (AED) price ARKAN 194,539,077 1.48 RAKPROP 188,989,517 1.73 EMAAR 166,934,562 12.20 OILC 163,898,934 1.41 TAQA 150,885,200 3.05

Dubai Financial Market

The DFMGI was once again over the 4500 point level during the day's trading but couldn't keep it up and ended with a close of 4457, down 0.5% and total traded value of AED 852m. Emaar Properties PJSC (EMAAR) had the highest traded value of AED 167m and a 0.4% fall to 12.10, DFM shares also very active and a 0.9% fall to 3.31.

Other falls of note for Tamweel PJSC (TAMWEEL) down 2%, Emirates Bank International Group (EBI) down 1.8% from just 3 trades, Aramex PJSC (ARMX) and Islamic Arab Insurance Company PSC (IAIC) down 1.8%, Shuaa Capital PJSC (SHUAA) down 1.5%, Union Properties PJSC (UPP) and National Bank of Dubai (NBD) down 1.4%, and several other stocks falling less than 1%.

GGICO putting on a good show again with a 5% rise to 7.38 from increased trading volumes. Commercial Bank of Dubai (CBD) up 4.3% and AMAN up 1.8% the only other two stocks with a rise. GULFNAV and National General Cooling Company PJSC (TABREED) price remained unchanged.

Abu Dhabi Securities Market

ADSM was up by 0.26% to 3610 from a total traded value of AED 1.2 billion. Most notable on activity and increase were ARKAN up 5% to 1.53 and 194m dhs of trading, Ras Al Khaimah Properties PJSC (RAKPROP) up 5.5% to 1.69 and 189m dhs, Abu Dhabi National Energy Company (TAQA) up 4.1% and 151m dhs. Oasis International Leasing Company PJSC (OILC) also heavily traded with total 164m dhs but a slight fall of 0.7%, or 1 fil, to 1.39.

Top of the tree for increases were Invest Bank (INVESTB) and NBS, both trading 10% limit up for a period of time and closing at 2.77 and 2.85 respectively, up over 8% for the day, with Sharjah Islamic Bank trading especially high volumes. DRIVE also up a decent 8.3% while National Bank Of Ras Al Khaimah (RAKBANK) jumped from a single small trade.

Other significant rises for Dana Gas PJSC (DANA) up 4.3%, AGTHIA up 3.5% - not going limit up for a change, Aabar Petroleum Investments Company PJSC (AABAR) up 2%, and Emirates Telecommunications Company (ETISALAT) up just 0.26%.

Losers of note were Abu Dhabi Islamic Bank (ADIB) down 3.4% on solid volumes, Aldar Properties PJSC (ALDAR) down 2.5%, Abu Dhabi Commercial Bank (ADCB) down 2%, Union National Bank (UNB) down 1.1%, and Sorouh Real Estate (SOROUH) down 0.9%.

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