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UAE Financial Market News

13 December 2010. UAE stocks fell today, led downwards by Emaar, Aldar, and Tabreed. First Gulf Bank was the only gainer of any note (just barely) out of the UAE based companies, and a few of the Kuwait secondary listings in Dubai also saw some green. On the Nasdaq Dubai, DP World was up slightly by 0.17%, and Depa traded unchanged.

Dubai Financial Market

Dubai stocks fell 1.35% to 1654 points from trading worth AED 211m with Emaar Properties (EMAAR) the most active stock, down 2.4% to 3.60 from AED 82m. National General Cooling (TABREED) was the worst loser, down 5.6% to 1.85, Arabtec (ARTC), Emirates NBD (ENBD), and Gulf Navigation (GULFNAV) all fell close to 2.0%, and the other losers fell less than 2%.

Islamic Arab Insurance (IAIC) was the top gainer, up 3.15% to 0.92 but on low turnover, Al Madina Finance (ALMADINA) rose 2.9%, Ektitab Holding (EKTTITAB) 1.6%, HITS Telecom 0.98%, and Ajman Islamic Bank (AJMANBANK) 0.60%.

Abu Dhabi Securities Exchange

Abu Dhabi stocks fell 0.77% to 2745 points from trading worth AED 125m with Aldar Properties (ALDAR) the most active stock, down 3.3% to 2.33 from AED 50m. United Arab Bank (UAB) was the worst loser, down 8.9% from a single small trade, Abu Dhabi National Insurance (ADNIC) was the worst of the more active stocks by volume, down 6.7% to 6.45 from a single trade of 1m shares.

Arkan Building Materials (ARKAN) fell 2.6%, Abu Dhabi Islamic Bank (ADIB) 2.3%, and the other losers were down less than 2% or on thin trading. Emirates Telecom (ETISALAT) and National Bank of Abu Dhabi (NBAD) both fell less than 0.5%. There were 7 gainers but only First Gulf Bank (FGB) traded more than AED 1m worth, up 0.26% to 18.85.

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