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Home / Features / UAE Financial Market News

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UAE Financial Market News

21 January 2010.UAE stocks ended the week in the red, led down by Emaar, Arabtec, and Aldar, with most stocks falling about 0%-2% today. Trading volumes were relatively low although up a bit from yesterday. On the Nasdaq Dubai at 1530 UAE time, DP World is down 1.3%, Depa is up 1.6%, and Damas is unchanged. Dubai Financial Market The Dubai Financial Market (DFM) index fell 1.5% to 1652 points from turnover of AED 211m with Arabtec (ARTC) the most actively traded stock, down 2.1% to 2.36 from AED 72m worth of trading. Emaar Properties (EMAAR) saw a similar level of volume, falling 2.7% to 3.29 from AED 68m worth of deals. National Cement Company (NCC) was the worst loser, 5% limit down from a handful of small trades. Gulf Finance House (GFH) was the worst of the more active stocks, down 4.7% to 1.21. Dubai Financial Market (DFM) fell 2.5%, Islamic Arab Insurance (IAIC) was down 2.4, and most other stocks fell less than 2%. There were four gainers with Ektitab Holding (EKTTITAB) and HITS Telecom the only ones trading more than AED 1m, both up about 1.5%. Abu Dhabi Securities Exchange The ADX fell 0.64% TO 2637 points from turnover of AED 144m, with about half of that from trading in Aldar Properties (ALDAR) shares as they fell 3.7% to 4.38, making it the worst of the more actively traded stocks. Abu Dhabi National Hotels (ADNH) was the worst loser, 10% limit down from a single small trade. Sorouh Real Estate (SOROUH) fell 3.6%, Dana Gas (DANA) dropped by 2.1%, and most other stocks fell by less than 2%. There were 7 gainers, but only First Gulf Bank (FGB), up 1.6% to 15.90, saw trading worth more than AED 1m.

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