Special Features
UAE Financial Markets News
29 September 2009. The DFM rose 1.0% to 2162 points from AED 840m worth of trading with Drake & Scull and Gulf Navigation rising strongly on solid volumes - DSI announcing a contract in Thailand providing a boost. On the Nasdaq Dubai at 1400 UAE time, DP World is up 1.85%, Depa is unchanged, Damas is down 2.8%, DGS is up 0.3%, and there have been a couple of trades in DFM, Air Arabia, and Union Properties derivatives, with little movement. The ADX rose 1.2% to 3126 points from turnover of AED 444m, with a solid rise for RAK Properties, also the most actively traded stock in Abu Dhabi. RAK Properties released a disclosure today clarifying some apparently misleading reporting last week about construction delays.Dubai Financial Market
Emaar Properties (EMAAR) was the most active stock as usual, with AED 180m worth of trading and a 1.3% rise to 3.95. Dubai Financial Market (DFM), up 1.7%, and Drake & Scull (DSI), up 3.1%, also traded more than AED 100m. Shuaa Capital (SHUAA) was the best gainer with a 5.15% rise to 2.04. Commercial Bank of Dubai (CBD), National Cement Company (NCC), and Al Firdous Holdings (ALFIRDOUS) all closed 5% limit up but from low volumes. National General Cooling (TABREED) was up 3.1%, Arabtec (ARTC) 2.2%, and most other stocks rose less than 2% or on low volumes.
There were only 3 losers, Emirates NBD (ENBD) down 0.23%, Al Salam Bank Sudan (ALSALAMSUDAN) down 2.85%, Gulf Finance House (GFH) 5% limit down, and all 3 fell on low volumes.
Abu Dhabi Securities Exchange
As mentioned, Ras Al Khaimah Properties (RAKPROP) was the busiest stock in Abu Dhabi with AED 140m worth of deals and a 5.1% rise to 0.82. No other stocks traded more than AED 100m. International Fish Farming (ASMAK) was the best gainer on turnover of more than AED 1m, with a 7.5% rise to 23.05. First Gulf Bank (FGB) was up 5.3%, Abu Dhabi National Takaful (TKFL) 5.2% on greater than usual volumes, Invest Bank (INVESTB) rose 5.0%, Aldar Properties (ALDAR) and Waha Capital (OILC) 3.3%, and most other stocks were unchanged or rose less than 3%.
There were 7 losers, only 2 of them trading more than AED 1m - Methaq Islamic Insurance (METHAQ) down 0.96%, and Finance House (FH) down just 0.18%. National Bank of Abu Dhabi (NBAD) and Emirates Telecom (ETISALAT) both rose about 0.4%.
