UAE markets 03 Jul 2007

UAE market news & discussions for 03 July 2007 A very strong days trading on DFM and ADSM with both indicies finishing up more than one percent on strong volumes. GULFNAV dominated trading on the DFM with 322 million shares traded finishing 7.81% higher. On the ADSM, ADCB finished 6.61% higher perhaps reflecting bank merger activity in Dubai.

• 03 July 2007 UAE business and stock news
• SOROUH shortlists six companies for Saraya infrastructure - 02 Jul 07
• UNB financial strength rating from CI raised to A+ 02 Jul 07
• Spinneys IPO
• Spinneys share issue and loan with NBD - 02 Jul 2007
• AABAR subsidiary to buy 15% stake in Vietnam block - 02 Jul 07
• ALDAR awards another contract to itself - 03 Jul 07
• DFSA investigates $5 bn fraud attempt at Lloyd's Bank - 03 Jul 07
• EBI and NBD Boards approve merger terms, trading suspended - 02 Jul 07
• ETISALAT to bid for second Qatar mobile license - PR 03 Jul 07
• ARTC EMAAR - Burj Dubai Lake Hotel ahead of schedule 02 Jul 2007
• Stock Picks by Technical Analysis July 2007
• ARTC 2007 Q2 profit forecast drop from 2006 Q2
• Is DFMGI begging to correct?
• 2007 Q2 results for DFM and ADSM companies
• TAMWEEL to sell AED 73m bonds to World Bank IFC - PR 01 Jul 07
• TAMWEEL 90% mortgage deal for Abyaar's Acacia Avenue - PR 02 Jul 07
• Abu Dhabi Property underpriced says HSBC report - 29 Jun 07
• EMAAR Q2 profit forecast AED 1.90 bn up 23.2%
• ESCA says grace period for brokers extended to Sep - GN 02 Jul 2007
• ADIB - BOD member Al Jasmi no longer with bank from 11 Jun 07
• DU telecom subscriber base reaches 0.5 million - 01 Jul 07
• TAIB considering DIFC license application - 01 Jul 07
• 02 July 2007 UAE financial and stockmarket news
• Islamic Bank sector has strong growth potential - GBCORP CEO

More UAE stock market news and discussions...

best stock rises symbol price change WARE 25.75 +3.35 +15% OEIHC 16.50 +1.50 +10% GULFNAV 1.34 +0.10 +8.1% TKFL 5.27 +0.35 +7.1% ADCB 7.74 +0.48 +6.6%

worst stock falls symbol price change DNIR 3.40 -0.15 -4.2% QCEM 2.23 -0.09 -3.9% ADNIC 9.00 -0.33 -3.5% UNION 2.00 -0.05 -2.4% BILDCO 4.10 -0.08 -1.9%

top volume symbol value (AED) price GULFNAV 433,223,009 1.34 DFM 136,906,644 3.27 EMAAR 127,736,888 12.00 ARKAN 126,582,592 1.71 AMLAK 108,225,676 3.63

Dubai Financial Market

A strong day today on the DFM with the index finishing at 4,506 a rise of 1.41%. 509 million shares changed hands worth 1.2 billion dirhams. Twenty two shares advanced and one declined.
GULFNAV 1.38 was the top traded share with a staggering 322 million shares changing hands finishing the day 7.81% up on the previous close.

Other shares to close higher included Amlak Finance Company (AMLAK) 3.66 (4.27%), ARAMEX 2.75 (2.23%), DFM 3.28 (1.86%) and Islamic Arab Insurance Company PSC (IAIC) 3.40 (3.65%).

One share declined Dubai National Insurance & Reinsurance Co. (DNIR) 3.40 finishing 4.22% lower on small volume.

Abu Dhabi Securities Market

A strong day on the ADSM with the index finishing at 3, 642 a rise of 1.54%. 217 million shares changed hands worth 607 million dirhams. Thirty five shares changed hands and eight declined.
The top traded share was ARKAN 1.71 with 74million shares traded finishing .59% higher at the close of trade.

Other shares to rise included Abu Dhabi Commercial Bank (ADCB) 7.74 (6.61%), Dana Gas PJSC (DANA) 1.71 (1.79%), Gulf Cement Company (GCEM) 6.32 (3.9%) and DRIVE 1.71 (1.79%).

Shares that declined included Ras Al Khaimah Cement Company (RAKCC) 2.46 (.81%) and Gulf Pharmaceutical Industries (JULPHAR) 2.03 (.50%).

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