Special Features
UAE Financial Market News
11 August 2010. UAE stocks fell, staying true to current form. What stood out in Abu Dhabi though was relatively high volume trades in Adnic and some of the banks. On the Nasdaq Dubai, DP World fell 0.41%, Depa fell 1.5%, and DGS was down 2.7%.Dubai Financial Market
Dubai stocks fell 0.91% to 1483 points from trading worth AED 60m with Emaar Properties (EMAAR) the only stock trading more than AED 10m worth, down 2.18% to 3.14 from AED 26m, and also the worst of the more active losers.
National General Cooling (TABREED) fell 2.1%, Gulf Finance House (GFH) fell 2.0%, and the other losers were down less than 2% or on thin trading. There were only 3 gainers, none trading more than AED 1m worth. Emirates NBD (ENBD) closed unchanged at 2.45 from thin volumes.
Abu Dhabi Securities Exchange
Abu Dhabi stocks fell 0.52% to 2496 points from AED 188m worth of trading with two trades in Abu Dhabi National Insurance (ADNIC) worth AED 58m putting it at the top of the traded value table, although price was almost unchanged at 6.05. The next three spots by turnover were also unusual with the bank stocks Union National Bank (UNB), Abu Dhabi Commercial Bank (ADCB), and Bank of Sharjah (BOS), all unchanged, beating the normal number one spot holder by turnover, Aldar Properties (ALDAR), which only saw AED 16m worth of deals as it fell 1.4% to 2.11.
Ras Al Khaimah Properties (RAKPROP) was the worst of the more active losers, down 2.6% to 0.38, Sorouh Real Estate (SOROUH) fell 2.4%, and the other losers were down less than 2% or on low turnover. There were only 4 gainers, with National Bank of Abu Dhabi (NBAD) the only other one trading more than AED 1m worth, up 0.90% to 11.25. Emirates Telecom (ETISALAT) was unchanged at 10.00.
