UAE markets 15 Jun 2008

UAE market news & discussions for 15 June 2008 A slow day at the DFM but excitement in Abu Dhabi as Methaq Insurance traded 10% limit up and topped the turnover tables, helping the ADX to see more than twice the level of trading as in Dubai. Aldar shares rose 2.85% on relatively heavy trading despite the announcement of another 1.4% dilution from their convertible Sukuk. Netsol, a new DIFX listing, starts trading tomorrow (Monday 16 June 2008) Taqa shares were suspended from trading today, due to lack of information on their convertible bond. Taqa also released a press release about the Theolia deal, after being asked about it by the ADX ... the same press release that Theolia sent out last week. A good start to the week then, for the Taqa investor relations department.

• 13-16 Jun 2008 ADSM DFM DIFX disclosures & news
• 12 new UAE cement companies
• AMAN Syria
• ARTC to buy piling contractor
• DFM capitalization - and updated stock filter page
• DFM net foreign selling Dh190m last week
• EMAAR story
• Insider trades June 2008
• Taqa Theolia Morocco
• TAQA convertible bond AED 4.15 bn
• What's the buzz in smaller stocks?

More UAE stock market news and discussions...

best stock rises symbol price change METHAQ 4.19 +0.28 +7.2% NMDC 12.00 +0.65 +5.7% FH 13.35 +0.50 +3.9% UCC 5.29 +0.19 +3.7% ALDAR 12.65 +0.35 +2.8%

worst stock falls symbol price change NCTH 11.70 -1.30 -10% ARIG 3.12 -0.28 -8.2% ALFIRDOUS 2.47 -0.13 -5% UNION 4.00 -0.15 -3.6% ASCANA 3.00 -0.09 -2.9%

top volume symbol value (AED) price METHAQ 368,769,883 4.19 ALDAR 211,878,791 12.65 SOROUH 136,513,124 9.65 OILC 117,368,682 2.76 DIC 115,382,209 4.16

Dubai Financial Market

A light day of trading at the DFM with only AED 533 million worth of deals, and only Dubai Investments (DIC) seeing more than AED 100 million worth as it rose 1.5% to 4.16. The DFMGI fell 0.5% to 5632 points. Tabreed (TABREED) was the top gainer with a 1.6% rise to 2.54. GULFNAV and Aramex (ARMX) each rose 1.1% and the remaining gainers were up less than 1% or on thin trading.

Emirates NBD (ENBD) was the worst of the actively traded losers, falling by 2.1% to 11.75. Dubai Islamic Bank (DIB) was down 1.45%, GGICO by 1.2% and the remaining losers fell less than 1% or on thin turnover. Emaar Properties (EMAAR) was down 0.9% to 11.10.

Abu Dhabi Securities Market

The ADX saw a slight drop of 0.16% to 5110 points with turnover at a moderate level of AED 1.3 billion. METHAQ was the dominant share with AED 370 million worth of trades, and shares closing limit up at AED 4.30. Aldar Properties (ALDAR) was also popular and gained 2.85% to close at 13.00.

Other gains of note for Finance House (FH) which rose 3.9% to 14.10 with heavier than usual trading, First Gulf Bank (FGB) up 1.9%, Oasis Leasing (OILC) up 1.85%, Commercial Bank International (CBI) up 1.5% and the remainder with smaller than 1% gains or thin trading.

Abu Dhabi Commercial Bank (ADCB) was the worst of the losers on active trading with a 2.1% fall to 5.09. RAK White Cement (RAKWCT) fell 2%, ADAVIATION 1.8%, Etisalat (ETISALAT) 1.7%, Aabar Petroleum (AABAR) 1.0% and the remaining losers fell less than 1% or on thin trading.

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