Special Features
UAE Financial Market News
17 October 2010. Stocks rose slightly in Abu Dhabi, although Arkan and Methaq closed limit up despite both companies saying there was no news to justify the sharp movements in share price, giving us a feeling of deja vu. Dubai stocks fell slightly with HITS Telecom dropping sharply but no other significant movements. On the Nasdaq Dubai, DP World rose 0.18%, Depa was unchanged, and DGS rose 0.57%.Dubai Financial Market
Dubai stocks fell 0.13% to 1744 points from AED 133m worth of trading with Emaar Properties (EMAAR) the most active stock, down 0.51% to 3.92 from AED 49m. HITS Telecom was the worst of the more active losers, down 5.5% to 0.82, Arabtec (ARTC) fell 1.75%, Dubai Financial Market (DFM) 1.1%, and the other losers were down less than 1% or on thin trading.
Emirates NBD (ENBD) was the best of the more active gainers, up 1.7% to 3.00. Air Arabia (AIRARABIA), Union Properties (UPP), and Arab International Logistics (ARMX) all rose less than 1%, and the other 3 gainers were up on low volumes.
Abu Dhabi Securities Exchange
Abu Dhabi stocks rose 0.15% to 2763 points from AED 186m worth of trading with, unusually, Emirates Insurance (EIC) the most active stock by value, unchanged at 6.00 from a single trade worth AED 64m. Methaq Islamic Insurance (METHAQ) and Arkan Building Materials (ARKAN) were the top gainers, both closing 10% limit up with no sellers in the queue.
Emirates Telecom (ETISALAT) rose 1.8%, Ras Al Khaimah Cement (RAKCC) was up 1.2%, and the other gainers rose on turnover of less than AED 1m each. Dana Gas (DANA) was the worst of the more active losers, down 3.5% to 0.81, Abu Dhabi Commercial Bank (ADCB) fell 3.2%, Waha Capital (OILC) 2.5%, and the other losers were down less than 2% or on thin trading.
