MIDEAST STOCKS-ADNOC Distribution shines in Abu Dhabi and Saudi

                * ADNOC distribution jumps 8%
* Union Properties increases in intense trade
* Emirates NBD extends gains on agreement with Denizbank

DUBAI, April 7 (Reuters) - ADNOC Distribution has raised the door of Abu
Dubai Stock Exchange on Sunday and Dubai continued to win
Saudi Arabia lags behind.
The Abu Dhabi index rose 0.4%, according to ADNOC
Distribution increased 8%, reaching a record 2.7% in one year
dirhams ($ 0.7351).
Last week, the company's shareholders approved an increase
in the dividend policy of the company. The company also won a shareholder
authorization to repurchase up to 62.5 million shares, ie 5 shares
percent of his float over a period of 12 months should he
choose to do it.
Reuters said separately that the firm was considering a solution
secondary list abroad.
The Dubai index rose 0.2%, up
its seventh consecutive session. Union Properties was
far the stock with the highest trading volume, gaining 0.8
percent.
Emirates NBD Bank - of which Arqaam based in Dubai
Sunday capital qualified its "best buy" - added 1.3 percent after
saying last week that he will buy Denizbank.

Heavyweight Emaar Properties was down 0.4%,
while Shuaa Capital was up 4.3%. The firm is
will soon merge with Abu Dhabi Financial Group
take control.
Dana Gas and Eshraq Properties have been
among the stocks registering the highest trading volumes in Abu
Dhabi, and they increased by 0.5% and 0.7%,
respectively.
The Tadawul index of Saudi Arabia fell by 0.6%,
ending a series of 9-day earnings already wiped out by Al Rajhi Bank
which was down 1.1 percent.
"Being a Sunday, foreigners were absent (from Arabia
market) and we suspect that local investors are
recent profits, "said Vrajesh Bhandari, Senior Portfolio Manager
at Al Mal Capital in Dubai.
Saudi Almarai down 0.5% in restricted trade
volume, after what the capital of Arqaam called "results without interest"
in a report on the first quarter of the company.
Led by Ahli United Bank, up 2.5%,
The Bahrain stock market added 1.5%. Wednesday,
the bank said the due diligence required for a merger with Kuwait Finance
The house was in progress.
The Egyptian stock market was down 0.7 percent on
Sunday, weighed down mainly by Orascom Investment Holding
, which lost 7.1% after reporting last week a
fall in net profit.


SAUDI ARABIA The index fell 0.6% to 9,011 points
ABU DHABI The index rose 0.4% to 5,052 points
DUBAI The index added 0.2% to 2,781 points
QATAR The index gained little changed at
10.192 points
EGYPT The index is down 0.7% to 15,135
points
BAHRAIN The index rose 1.5% to 1,440 points
OMAN's index added 0.8% to 3970 points.
KUWAIT The index rose 1.4% to 6,222 points.


(1 $ = 3.6728 dirham from the United Arab Emirates)


(Report by Nafisa Eltahir
Edited by Keith Weir)