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UAE Financial Market News

08 November 2010. UAE stocks fell with another sharp fall for Arabtec, and some of the Kuwait secondary listings in Dubai. On the Nasdaq Dubai, DP World fell 1.5%.

Dubai Financial Market

Dubai stocks fell 1.65% to 1693 points from trading worth AED 246m with Arabtec (ARTC) again the most actively traded stock, down 6.9% to 1.90 from AED 59m worth of trading. Worst losers were Ektitab Holding (EKTTITAB) and HITS Telecom, both 10% limit down. Al Madina Finance (ALMADINA) fell 9.6%, Dubai Financial Market (DFM) 6.7%, and the other losers fell less than 3% or on low volumes.

Emaar Properties (EMAAR) fell 2.4% to 3.65. There were only two gainers - Dubai Refreshments (DRC) up 0.53% from one small trade, and Emirates Integrated Telecommunications (DU) up 0.33%. Emirates NBD (ENBD) was unchanged at 3.26.

Abu Dhabi Securities Exchange

Abu Dhabi stocks fell 0.70% to 2751 points from trading worth AED 191m with, unusually, Methaq Islamic Insurance (METHAQ) the most actively traded stock, up 2.89% to 2.70 from AED 48m, also making it the best gainer apart from one small limit up trade for International Fish Farming (ASMAK). There were only 2 other gainers, Ras Al Khaimah White Cement (RAKWCT) up 1.6% from one small trade, and Ras Al Khaimah Cement (RAKCC) up 1.0%.

Aldar Properties (ALDAR) was the worst of the more active losers, down 3.9% to 2.21, Sorouh Real Estate (SOROUH) fell 3.6%, Gulf Cement (GCEM) 3.1%, and the other losers were down less than 3% or on thin trading. Emirates Telecom (ETISALAT) was unchanged, and National Bank of Abu Dhabi (NBAD) fell 1.2%.

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