UAE market news & discussions for 12 June 2007Some of the cement companies continued to rip ahead, namely RAK Cement, RAK White Cement, and Sharjah Cement. Otherwise DFM was subdued and ADSM was in the spotlight with another day of much higher trading volume than DFM. |
- 12 June 2007 UAE stocks and business news
- ADCB 2007 FY profit forecasts from -16% to +30% on 2006 FY
- ADIB rating upgraded to A by Capital Intelligence - 12 Jun 07
- ADSM IPO
- ALDAR signs joint venture with Keppel Corporation PR 12 Jun 07
- DIC and Fujairah Investments to launch Al Taif Investments 12 Jun 07
- DME Dubai Mercantile Exchange IPO?
- EIB completes debut AED 3.7 billion sukuk offering - PR 12 Jun 2007
- GLOBAL receives offer for MAZAYA stake
- NBAD actively seeking bank mergers - GN 12 June 2007
- OILC AED 1.1 bn new leasing in 2007 and name change - R 11 Mon 07
- SHUAA share price plummets 12.5% 11 June 2007
- SOROUH - new Vice-Chairman is Mohammed Khalaf Al Mazrui
- TAQA may allow foreign ownership - 03 Jun 07
- TAQA to sell AED 33 bn of bonds to 2012 and foreign purchases
- UAE may allow up to 100% foreign ownership
- UAE stockmarkets will not merge - AB 11 June 2007
- WARE Agility 2006 FY results late, trading suspended - 15 Mar 07
- 11 June 2007 UAE stocks and financial news
More UAE stock market news and discussions...
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Dubai Financial Market
The DFM thankfully closed up 0.5% from yesterday to 4426 with only 600m dhs worth of shares traded. Shuaa Capital PJSC (SHUAA) recovered most of its apparently huge loss from from the last trade yesterday to close at 4.99, up 10.9% on thin trading. Average share price in the past three days has been almost flat.
Tamweel PJSC (TAMWEEL) was up 3.2% to 4.55 on high volume, Arabtec Holding PJSC (ARTC) up 2.5% to 5.79 also on high volume, GULFNAV up 1.7%, Union Properties PJSC (UPP) up 1.2% and a few more rises for actively traded stocks of less than 1%. Emaar Properties PJSC (EMAAR) and Amlak Finance Company (AMLAK) share prices were unchanged.
AMAN was the most significant loser, down by 3.1% to 21.75 after big jumps the past couple of days. DFM, Islamic Arab Insurance Company PSC (IAIC), Emirates Integrated Telecommunications Company (DU), and Dubai Investments PJSC (DIC) all fell by less than 1%.
Abu Dhabi Securities Market
The ADSM index barely moved, closing at 3606 - up just two points from yesterday. Volumes were decent though at 819m dhs worth of trades, and ADSM eclipsing DFM for another day on total traded value.
Ras Al Khaimah Cement Company (RAKCC), Ras Al Khaimah White Cement Company (RAKWCT), and Abu Dhabi National Company for Building Materials (BILDCO) were all trading at 10% limit up (share prices of 2.39, 2.24, and 3.90 respectively) with no sellers in the queue, but still managed to trade high volumes with RAK Cement seeing 186m dhs worth of deals done. A good day for other cement companies also with Union Cement Company (UCC) up 7.6%, Gulf Cement Company (GCEM) up 7.2%, Sharjah Cement & Industrial Development Company (SCIDC) up 6.3%, and QCEM up 4.9%.
Other rises for Foodco Holdings PJSC (FOODCO) up 4.9%, Gulf Pharmaceutical Industries (JULPHAR) up 4%, NBS up 3.7%. Abu Dhabi Islamic Bank (ADIB), First Gulf Bank (FGB), Abu Dhabi Ship Building (ADSB), Aldar Properties PJSC (ALDAR) all rose about 1% or less.
ARKAN topped the traded value list with a total of AED 249m but price remained unchanged at 1.79. Oasis International Leasing Company PJSC (OILC) also saw no change in price at 1.39 on busy trading, same for Emirates Telecommunications Company (ETISALAT) at 18.65.
Losers on busy trading were AGTHIA down 2.7%, Finance House PJSC (FH) down 2.8%, ADNIC down 2.5%, National Bank of Abu Dhabi (NBAD) down 1.8%, Sorouh Real Estate (SOROUH) down 1.4% and a handful of others dropping 1% or less.
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