UAE markets 14 Jun 2007

UAE market news & discussions for 14 June 2007 The DFM headed down and ADSM was up. Dana Gas shares rose strongly on heavy trading - punters perhaps encouraged by yesterday's news of an update coming. RAK Property shares also rose strongly on heavy trading, but Gulf Navigation shares fell on a second day of massive trading. This week's rally in cement companies dried up with most of them showing a loss today. Oasis Leasing denied a press report, joining the ever increasing list of companies denying various reports in the news recently. Dubai Investments, however, confirmed recent news about them, making for a refreshing change. Shuaa Capital won an award from Euromoney. Arabtec said they expected revenue generation in Abu Dhabi to double. The National Bank of Abu Dhabi CEO said he didn't think they wouldn't be doing a merger with Abu Dhabi Commercial Bank but it could be a good idea. Air Arabia said they would list by the end of June, and order more planes by September. Their reported profit of AED 29 billion for 2005 seems to be a rather large rounding error. And time for ShareWadi to correct an error in yesterday's report before Emaar complains - it was of course the Chairman, not the CEO, who was awarded an honorary degree.

• 14 June 2007 UAE stocks and business news
• Correction in GCC bourses over, gains muted - Nomura report June 2007
• ADSM goes to London to sell shares to foreigners - R 31 May 2007
• Air Arabia IPO - listing by end of June
• Air Arabia will buy 34 planes worth AED 8.7 bn - R 13 Jun 2007
• ARTC - Abu Dhabi turnover to double to AED 1 bn - R 14 June 2007
• DIC confirms and clarifies newspaper reports - which ones?
• DIC buys 50% stake in Al Qudra Sports PR 13 Jun 2007
• DIFC AED 4.6 bn Islamic Sukuk largest non-equity linked - PR 14 Jun 07
• GULFA granted loan from National Bank of Kuwait
• GULFNAV - heavy share trading and limit up 13 June 2007
• NBAD - ADCB merger?
• NBAD interest rate on bonds is 5.55% - 14 June 2007
• NBF looking at Islamic finance market - 14 June 2007
• OILC AED 1.1 bn new leasing in 2007 and name change - R 11 Mon 07
• OILC denies press report? What press report?
• SHUAA gets Euromoney award for Best Equity House in the UAE
• UNB - Bab Al Bahr resort in RAK
• 13 June 2007 UAE stocks and financial news

More UAE stock market news and discussions...

best stock rises symbol price change IFA 10.65 +1.08 +11.3% AWNIC 5.39 +0.47 +9.6% NCTH 4.58 +0.38 +9% UNION 2.20 +0.15 +7.3% DANA 1.83 +0.11 +6.4%

worst stock falls symbol price change ARIG 3.06 -0.20 -6.1% FH 8.10 -0.52 -6% ADAVIATION 2.24 -0.13 -5.5% CBD 8.00 -0.40 -4.8% BAYAN 3.78 -0.20 -5%

top volume symbol value (AED) price GULFNAV 619,598,036 1.38 DANA 299,202,998 1.83 OILC 234,940,506 1.47 TAMWEEL 215,379,176 4.65 RAKPROP 186,226,966 1.80

Dubai Financial Market

The DFMGI fell by 0.67% to finish at 4464 points from a solid 1.5 bn dhs worth of traded value. GULFNAV by far the most active stock with 620m dhs worth of trades and a fall of 2.2% to 1.33.

Dubai Investments PJSC (DIC) and Tamweel PJSC (TAMWEEL) also heavily traded with small rises of 0.6% and 0.2% respectively. Emaar Properties PJSC (EMAAR) in fourth place on the total value list with a 0.4% fall to 12.05.

AMAN and GGICO both rose less than 1% from reasonably active trading. The big jump for International Financial Advisors KSCC (IFA) was from a single small trade. All other actively traded stocks fell 0-2%.

Abu Dhabi Securities Market

ADSM had a slight rise of 0.26% to 3620 points from a total value of 1.1 bn dhs worth of trades.

Dana Gas PJSC (DANA) rose 6.4% to 1.82 from 300m dhs worth of trading, Oasis International Leasing Company PJSC (OILC) rose 1.4% from 235m dhs worth, and Ras Al Khaimah Properties PJSC (RAKPROP) was up by 5.3% to 1.77 from AED 186m dhs worth. A notable rise of 9.1% for NCTH - more active than usual but still only a few trades, while other rises were less than 2% for the more active stocks.

Significant losses for ADAVIATION down 5.5%, Gulf Cement Company (GCEM) down 4.4%, Ras Al Khaimah Cement Company (RAKCC) down 3.6%, Union Cement Company (UCC) down 3.5%, Ras Al Khaimah White Cement Company (RAKWCT) down 2.6% but traded volumes for the cement companies were much reduced compared to when they showed sharp gains during the week. The remaining more active stocks fell around 1% or less.

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