UAE markets 26 Jun 2007

UAE market news & discussions for 26 June 2007 A down day on UAE markets with both indicies falling by over one and half percent on volume in line with the summer average. On the DFM, DFM and GULNAV made up half the volume traded with both falling sharply. SHUAA released some further details of the proposed covertible bond saying it would have a coupon rate of 6% and could be converted within a year. On the ADSM, OILC was heaqvily traded falling nearly 5%.

• 26 June 2007 UAE financial and stockmarket news
• GFH Gulf Finance House sells 30% of Khaleeji Bank
• Bahrain to introduce income tax - R 25 June 2007
• FGB forms AED 500m Inshaa Properties with ALDAR, SOROUH, Reem
• ARTC Arabtec receives ISO and OHSAS certificates 25 Jun 2007
• EBI Emirates Bank to implement Finacle from Infosys Technologies
• MASQ - Mashreqbank rated 'A/A-1', outlook stable by Standard & Poor's
• ARTC Wins AED 650 Million contract at Dubai Marina
• GFH Gulf Finance House par value
• 25 June 2007 UAE business and stock news
• Oasis Leasing attends 47th edition of Paris Air Show - PR 23 Jun 2007
• SHUAA 2006 FY profit AED 262m
• Agility & Transcar win world's largest freight contract with Qatar-Pearl GTL
• WARE & NRE - share prices fall on cancelled contracts? 26 Nov 2006
• NRE election of board members at BOD meeting 23 Jun 2007
• MASQ - Abdullah Al Mansori resigns from BOD 30 May 2007
• SHUAA to sell 32% stake to Dubai Banking Group
• SHUAA foreign ownership limit increase to 49%
• TAQA to continue with Sharia compliant project financing
• EMAAR-MGF may win DDA Games Village contract in India
• NBAD and EBI conclude AED 1.3 bn financing for Pearl Azure
• CBD launches Al Dana program for HNW customers
• EMAAR revenue to AED 140 bn by 2010, 25% from India
• EMAAR-MGF - $12 bn investment and largest mall in India planned
• MASQ - Fitch ratings affirmed at A with Outlook Stable - 24 Jun 2007

More UAE stock market news and discussions...

best stock rises symbol price change MAZAYA 8.45 +1.10 +15% GMPC 4.44 +0.40 +9.9% FCI 4.54 +0.35 +8.4% ABNIC 7.99 +0.49 +6.5% ADSB 3.00 +0.14 +4.9%

worst stock falls symbol price change AMAN 26.80 -3.30 -11% TKFL 4.51 -0.49 -9.8% RAKCEC 5.00 -0.40 -7.4% TAQA 2.79 -0.21 -7% UNION 2.14 -0.16 -7%

top volume symbol value (AED) price EMAAR 148,764,939 11.90 DFM 145,333,992 3.13 OILC 121,984,963 1.36 GULFNAV 78,963,551 1.26 RAKCC 65,161,275 2.42

Dubai Financial Market

The DFM index finished sharply lower today at 4,383 a fall of 1.64%. 194 million shares changed hands worth 720 million dirhams. Two shares advanced and eighteen shares declined. GULFNAV and DFM made up over 50% of all trades on the day. Both finished lower.

Two stocks advanced on very light volume MAZAYA 8.45 (14%), NCC 10.35 (4.5%).

The following stocks declined on significant volume. GULFNAV 1.22 (5.43%), DFM 3.07 (4.66%), Tamweel PJSC (TAMWEEL) 4.38 (3.95%), Amlak Finance Company (AMLAK) 3.47 (3.6%) and National General Cooling Company PJSC (TABREED) 2.66 (3.27%).
AMAN 24.70 also fell sharply losing 11.7% on just over one milion shares traded.

Abu Dhabi Securities Market

The ADSM index finished sharply lower today at 3, 534 a fall of 1.61%. 232 million shares changed hands worth 488 million dirhams. Eleven shares advanced and thirty four declined. 89 million shares of Oasis International Leasing Company PJSC (OILC) traded with the stock ending down 4.9%.

Top gainers on reasonable volume included Abu Dhabi National Company for Building Materials (BILDCO) 3.86 (.52%), ADAVIATION 2.25 (1.35%) and Abu Dhabi Ship Building (ADSB) 3.00 (4.90%).

Top decliners on reasonable volume included Ras Al Khaimah Cement Company (RAKCC) 2.42 (2.42%), ARKAN 1.57 (4.27%), Dana Gas PJSC (DANA) 1.61 (4.73%) Ras Al Khaimah Properties PJSC (RAKPROP) 1.57 (4.85%) and Abu Dhabi National Energy Company (TAQA) 2.79 (2.45%).

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