UAE markets 07 Jun 2007

UAE market news & discussions for 07 June 2007 An up day on both DFM and ADSM to finish the trading week. However, trading volume on both markets is showing signs of declining. Speculation in the press today regarding a possible revaluation upwards of the dirham by 3% in the next six months quoting an analyst from Deutsche Bank. This could result in more foreign money arriving in anticipation of a revaluation.

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More UAE stock market news and discussions...

best stock rises symbol price change RAKCEC 4.90 +0.34 +7.5% GLOBAL 9.04 +0.70 +8.4% AMAN 17.60 +1.20 +7.3% ARMX 2.69 +0.18 +7.2% ARIG 3.17 +0.20 +6.7%

worst stock falls symbol price change UNION 2.07 -0.23 -10% AWNIC 4.48 -0.37 -7.6% INVESTB 2.61 -0.13 -4.7% ASMAK 6.40 -0.27 -4% DRIVE 2.82 -0.09 -3.1%

top volume symbol value (AED) price ARKAN 246,879,514 1.64 EMAAR 194,852,184 12.00 DFM 155,061,419 3.32 UPP 150,768,013 3.41 DIC 134,703,654 4.67

Dubai Financial Market

The DFM index finished the trading day at 4476 a gain of 2.75% from yesterdays close. A total of 323 million shares changed hands worth 1.174 billion dirhams.

Top gainers on reasaonable volume included Aramex PJSC (ARMX) 2.75 (7%), GULFNAV 1.19 (5.31%), DFM 3.37 (4.3%), Union Properties PJSC (UPP) 3.43 (4.57%), Dubai Investments PJSC (DIC) 4.73 (3.73%).

No decliners were recorded for the day which adequately sums up what sort of trading day it was. It did not matter what you bought everything finished the day higher than it started.

To confirm how unforgiving the market can be the trading diary (stock picks by technical analysis on Dubaisharetalk) decided to exit trades in both Aramex PJSC (ARMX) and Union Properties PJSC (UPP), therefore missing out on todays rise.

Abu Dhabi Securities Market

the ADSM index finished the trading day at 3,599 a gain of .63% from yesterdays close. A total of 360 million shares changed hands worth 817 million dirhams. This trading total consisted of a huge 150 million ARKAN shares.

Top gainers on reasonable volume included ARKAN 1.64 (5.13%), Oasis International Leasing Company PJSC (OILC) 1.39 (3.73%), Ras Al Khaimah Properties PJSC (RAKPROP) 1.68 (2.44%), Sorouh Real Estate (SOROUH) 4.17 (3.73%), AGTHIA 2.07 (1.97%).

Top decliners on reasonable volume included AWNIC 4.48 (7.63%), Invest Bank (INVESTB) 2.61 (4.92%).

In sympathy with the DFM the trading diary also exited Ras Al Khaimah Properties PJSC (RAKPROP) yesterday hence missing out on todays rise.

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