Special Features
UAE Financial Markets News
17 September 2009. It was a solid green finish to the week for UAE stocks on the last trading day before Eid Al Fitr, with substantial trading levels and DFM’s own shares managing an increase of more than 10% from almost AED 400m worth of trading. The ADX rose 1.6% to 3100 points from turnover of AED 763m, the DFM rose 2.1% to 2128 points from turnover of AED 1.6 billion. On the Nasdaq Dubai at 1430 UAE time, DP World is up 0.94%, Depa is down 0.84%, Damas is unchanged, DGS is up 0.44%, and a good number of derivatives have seen a trade or two, mostly in the green.Dubai Financial Market
Emaar Properties (EMAAR) was the most active stock in Dubai with just over AED 400m worth of turnover, and rose 1.2% to 4.14. Dubai Financial Market (DFM) also traded close to AED 400m and had a 10.5% gain to 2.21 putting it at the top of the gainers list, except for a couple of insignificant trades in Gulf Finance House (GFH). Arabtec (ARTC) up 1.9%, Dubai Islamic Bank (DIB) up 4.8%, and Deyaar Development (DEYAAR) up 3.7% all traded more than AED 100m worth also. Commercial Bank of Dubai (CBD) was 5% limit up from low volumes, Shuaa Capital (SHUAA) rose 3.2%, and most other stocks were up less than 2% or unchanged. There were 6 losers with only Dar Takaful Insurance (DARTAKAFUL) (-0.78%) and Drake & Scull (DSI) (-1.0%) trading more than AED 1m worth of stocks.
Global Investment House (GLOBAL) closed 10% limit down on low volumes.
Abu Dhabi Securities Exchange
Sorouh Real Estate (SOROUH) up 7.0%, and Aldar Properties (ALDAR) up 5.0%, were the two busiest stocks in Dubai, both with well over AED 100m worth of deals. They were also the two top gainers (excluding the less active companies). Other gainers included Abu Dhabi Commercial Bank (ADCB) up 4.3%, Ras Al Khaimah Cement (RAKCC) up 3.85%, Ras Al Khaimah Properties (RAKPROP) up 2.6%, Abu Dhabi Islamic Bank (ADIB) up 2.2%, and the remainder up less than 2% or on low volumes. There were 6 losers, none on turnover of more than AED 1m. International Fish Farming (ASMAK), Oman and Emirates Investment Holding (OEIHC), and United Arab Bank (UAB) were the 3 worst losers, all falling 9%-10%.
National Bank of Abu Dhabi (NBAD) rose 1.8% to 14.00 and Emirates Telecom (ETISALAT) rose 1.7% to 11.95.
