Special Features
UAE Financial Market News
07 March 2010. UAE stocks rose, led by Emaar in Dubai, and a decent gain for Dana Gas in Abu Dhabi on news of more gas discovered in Egypt. On the Nasdaq Dubai at 1430 UAE time, DP World is the only stock traded, up 3.95% to $0.421.Dubai Financial Market
Dubai stocks rose 2.3% to 1622 points from AED 279m worth of trading with Emaar Properties (EMAAR) the most active stock, and the only one trading more than AED 100m worth, up 6.0% to 3.17 from AED 157m worth of deals.
Gulf Finance House (GFH) was the top gainer, up 6.7% to 0.96, Arabtec (ARTC) rose 3.85%, HITS Telecom was up 3.6%, National General Cooling (TABREED) 3.3%, and most other stocks were up between 1% and 3%. There were only 3 losers, and only Shuaa Capital (SHUAA), down 2.6% to 1.12, saw turnover of more than AED 1m worth.
Abu Dhabi Securities Exchange
Abu Dhabi stocks rose 0.75% to 2747 points from turnover of AED 169m worth, with Aldar Properties (ALDAR) the most active stock, up 0.58% to 3.48 from AED 74m worth of trading. Methaq Islamic Insurance (METHAQ) was the best of the more active stocks, up 4.5% to 2.62, although Abu Dhabi National Takaful (TKFL) closed 10% limit up from one small trade. Dana Gas (DANA) was up 3.7%, National Bank of Abu Dhabi (NBAD) 2.75%, Abu Dhabi Commercial Bank (ADCB) and Sorouh Real Estate (SOROUH) gained 2.4%.
Abu Dhabi National Building Materials (BILDCO) 2.3% although closing price was 10% limit up, Abu Dhabi Islamic Bank (ADIB) was up 2.1%, and the remaining gainers rose less than 2% or on low volume trading. Ras Al Khaimah Cement (RAKCC) was the worst of the more active losers, down 2.0%, and the other losers fell less than 2% or on low volumes. Emirates Telecom (ETISALAT) was unchanged at 12.15.
