Special Features
UAE Financial Market News
01 June 2010. UAE stocks fell, unsurprisingly, after the news that Dubai Holding Commercial Operations Group lost AED 23 billion last year. For those trying desperately to see if their glasses are still half full, or at least just a little bit damp.Trading volumes were relatively low today, and stocks did not crash as heavily as they did when Dubai World said they couldn’t pay back their loans and what was all the fuss about. On the Nasdaq Dubai at 1415 UAE time, DP World is down 4.35%, and Depa is down 1.3%.
Dubai Financial Market
Dubai stocks tanked by 3.1% to 1531 points from turnover of AED 263m with Emaar Properties (EMAAR) the only stock trading more than AED 100m worth, falling AED 6.0% to 3.15 from AED 124m. Ektitab Holding (EKTTITAB) was one of three losers closing 10% limit down, ending at 0.36, while the other two, Al Madina Finance (ALMADINA) and Global Investment House (GLOBAL), fell on turnover of less than AED 1m.
National General Cooling (TABREED) dropped 8.5%, Deyaar Development (DEYAAR) 7.4%, Union Properties (UPP) 6.5%, Gulf Finance House (GFH) 5.5%, Emirates Integrated Telecommunications (DU) 5% limit down, and the other losers fell less than 5% or on low volumes. Emirates NBD (ENBD) fell 3.6% to 2.65. There was only one gainer, Arab International Logistics (ARMX) up just 0.71% to 1.41.
Abu Dhabi Securities Exchange
Abu Dhabi stocks fell 2.0% to 2553 points from turnover of AED 107m with Aldar Properties (ALDAR) the most active stock, down 3.8% to 3.07 from AED 34m worth. Waha Capital (OILC) was one of 3 stocks closing 10% limit down, at 0.58. The other two were Foodco Holding (FOODCO) from just one small trade, and Arkan Building Materials (ARKAN) from thin volumes.
Aabar Energy (AABAR) and Dana Gas (DANA) fell 5.5%, First Gulf Bank (FGB) was down 4.5%, and the other losers fell less than 3% or on low turnover. There were only two gainers, Abu Dhabi Aviation (ADAVIATION) and Abu Dhabi National Hotels (ADNH), both rising on just a single small trade each.
