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UAE Financial Market News

11 November 2010. UAE stocks fell although Methaq and Arkan continued to bounce around, both with significant gains. On the Nasdaq Dubai, DP World rose 2.2%, Depa fell 4.2%, and DGS fell 0.82%.

Dubai Financial Market

Dubai stocks fell 0.86% to 1692 points from trading worth AED 213m with Arabtec (ARTC) the most actively traded stock, down 2.6% to 1.88 from AED 54m. Emaar Properties (EMAAR) saw similar volumes, down 1.3% to 3.67 from AED 51m. Dubai Islamic Insurance (AMAN) was the worst of the more active losers, down 4.6% to 0.72, Al Madina Finance (ALMADINA) fell 4.6% also, Ektitab Holding (EKTTITAB) was down 4.3%, Union Properties (UPP) 4.0%, Drake & Scull (DSI) 3.6%.

National General Cooling (TABREED) 2.55%, and the other losers fell less than 2% except for a few trades in Dar Takaful Insurance (DARTAKAFUL) which closed 5% limit down. There were 5 gainers with only Ajman Islamic Bank (AJMANBANK) trading more than AED 1m worth (just), up 1.2% to 0.86.

Abu Dhabi Securities Exchange

Abu Dhabi stocks fell 0.12% to 2758 points from trading worth AED 132m with Aldar Properties (ALDAR) the most active stock, down 3.4% to 2.27 from AED 28m, also the worst loser except for a few trades in Abu Dhabi Ship Building (ADSB). Sorouh Real Estate (SOROUH) fell 2.4%, Ras Al Khaimah Cement (RAKCC) fell 2.0%, and the other losers were down less than 2% or on thin trading.

Emirates Telecom (ETISALAT) fell 0.45% to 11.00, and National Bank of Abu Dhabi (NBAD) was unchanged. Methaq Islamic Insurance (METHAQ) was the top gainer, up 5.45% to 2.60, Arkan Building Materials (ARKAN) rose 3.45%, Green Crescent Insurance (GCIC) 2.5%, Abu Dhabi National Energy (TAQA) 2.1%, First Gulf Bank (FGB) 1.0%, and the other 3 gainers were up on thin trading.

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