UAE markets 13 Jun 2007

UAE market news & discussions for 13 June 2007 Dubai Financial Market had a healthy rise with the trading dominated by Gulf Navigation hitting the 15% limit up. Abu Dhabi saw a small rise with Oasis Leasing on good form as well as some of the building and cement companies again. Abu Dhabi Securities Market denied yesterday's IPO reports - another poor reporting story for ESCA to complain about? Capital Intelligence upgraded First Gulf Bank ratings, and FGB announced they would open an office in Singapore. Dubai Investments CEO said 2007 Q2 profits would be up by 40%, their share price was up by 2% today. Emaar announced a 200 room hotel at Dubai Marina Mall, and the CEO was awarded an honorary doctorate. Dana Gas said they would be updating investors on acquisitions and the Iranian pipeline project within a few weeks.

• 13 June 2007 UAE stocks and financial news
• ADCB 2007 FY profit forecasts from -16% to +30% on 2006 FY
• ADSM foreign investment levels and London trip
• ADSM IPO - denied
• DANA update coming on Iran and acquisitions - DJ 13 June 2007
• DIB - DB-GSAM Hedge Fund linked Capital Protected Notes
• DIC 2007 Q2 earnings forecast up 40%
• DIC 2007 FY profit forecast AED 1.43 billion
• EIC management changes - 13 June 2007
• EMAAR launches 200 room Dubai Marina Mall Hotel PR 13 June 2007
• EMAAR - 29 Burj Dubai Boulevard phase 1 launched - PR 12 June 2007
• EMAAR - Chairman Alabbar receives honorary doctorate PR 12 June 2007
• FGB ratings up to A+ and A1 by Capital Intelligence PR 13 June 2007
• FGB opens first international office in Singapore PR 13 Jun 2007
• GLOBAL obtains Saudi license - 13 June 2007
• MEED Islamic Project Finance conference targets 3.7 trillion dhs
• NBD national trainees graduate PR 13 June 2007
• UNB - summer offers on credit cards PR 13 June 2007
• 12 June 2007 UAE stocks and business news

More UAE stock market news and discussions...

best stock rises symbol price change GULFNAV 1.30 +0.17 +15% RAKCEC 5.60 +0.51 +10% BILDCO 4.19 +0.36 +9.4% OILC 1.45 +0.11 +8.2% RAKCC 2.52 +0.18 +7.7%

worst stock falls symbol price change NBQ 4.35 -0.17 -3.8% AGTHIA 2.09 -0.06 -2.8% GCEM 6.20 -0.16 -2.5% INVESTB 2.66 -0.07 -2.6% NBS 2.76 -0.07 -2.5%

top volume symbol value (AED) price GULFNAV 726,682,919 1.30 OILC 408,766,756 1.45 RAKCC 217,885,003 2.52 EMAAR 209,131,151 12.00 ARTC 167,455,458 5.96

Dubai Financial Market

The DFMGI rose another 1.5% to 4494 points, just shy of a 4500+ close, with increased volumes of AED 1.58 bn total traded value. All traded stocks rose with the exception of NCC which fell a single fil after a relatively busy day for them - 6 deals went through.

GULFNAV saw a staggering 560m shares traded, value was half the total for DFM today, and share price was limit up at 1.36. Arabtec Holding PJSC (ARTC) was also looking strong with AED 167m dhs worth of trading and a 4.2% rise to 6.03.

Other solid rises for Aramex PJSC (ARMX) up 3.8%, Islamic Arab Insurance Company PSC (IAIC) up 3%, Amlak Finance Company (AMLAK) up 2.5%, Shuaa Capital PJSC (SHUAA) up 2.2% and Union Properties PJSC (UPP) up 2.1%. The remaining actively traded stocks rose 0-2%. Emaar Properties PJSC (EMAAR) was up by 1.7% to 12.10.

Abu Dhabi Securities Market

The ADSM index crawled up by just 0.11% to 3610 and a total of AED 1.4 bn slightly lower than the DFMGI total. Trading was dominated by Oasis International Leasing Company PJSC (OILC) which rose 5.1% to 1.49 from AED 409m dhs worth. Abu Dhabi National Company for Building Materials (BILDCO) stood out with a huge (for them) 141m dhs worth of trading, closing 9.4% up at 4.18. Ras Al Khaimah Cement Company (RAKCC) rounded off the top three performers with a 6.8% rise to 2.54 and 218m dhs worth of deals.

Other healthy rises for Ras Al Khaimah Ceramics (RAKCEC) up 9.8% on thin trading, Ras Al Khaimah White Cement Company (RAKWCT) up 5.9%, Foodco Holdings PJSC (FOODCO) up 3.9%, Sudan Telecom Company Ltd (SUDATEL) up 3.4%, ADNH up 2.8%, ADAVIATION up 2.2%, Gulf Cement Company (GCEM) up 1.8% and the remaining actively traded gainers rising by less than 2% each.

Losers today included AGTHIA down 2.8%, Ras Al Khaimah Properties PJSC (RAKPROP) down 1.7%, ARKAN down 1.7%, and other smaller falls and/or thin trading. Emirates Telecommunications Company (ETISALAT) fell by just 0.53%, and Abu Dhabi Commercial Bank (ADCB) by 0.58%.

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