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Home / Features / UAE Financial Market News

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UAE Financial Market News

28 January 2010. Stocks rose today, led by Emaar, DFM and Arabtec with most stocks in the green. ADCB was a surprise gainer after announcing a big loss on Tuesday, and FGB was busy but didn’t rise, despite announcing solid profits yesterday. On the Nasdaq Dubai at 1530 UAE time, DP World is down 3.3%, and Damas and Depa are unchanged. Dubai Financial Market The Dubai index rose 2.2% to 1599 points from AED 334m worth of trading, with Emaar Properties (EMAAR) the only stock trading more than AED 100m, up 4.75% to 3.09 from AED 125m worth. Dubai Financial Market (DFM) was the best of the more active stocks, up 6.0% to 1.58. Arabtec (ARTC) was up 5.1%, Gulf Finance House (GFH) 4.6%, and most other stocks rose between 1% and 3%. There were 5 losers, with National Cement Company (NCC) and Dubai Insurance (DIN) the worst, closing 5% limit down, but none traded more than AED 1m worth. Abu Dhabi Securities Exchange The ADX rose 1.0% to 2628 points from turnover of AED 222m with Aldar Properties (ALDAR) the most active stock, up 2.3% to 4.01 from AED 80m worth of trades. First Gulf Bank (FGB) was in second spot by turnover with AED 53m worth, more than it usually trades, but share price was unchanged at 15.30. Top gainers were Abu Dhabi Commercial Bank (ADCB) and National Marine Dredging (NMDC), both 10% limit up at closing prices of 1.50 and 9.53 respectively. Aabar Energy (AABAR) was up 3.8%, Sorouh Real Estate (SOROUH) 3.6%, and the remaining gainers rose less than 3% or on low volumes. There were only four losers including Invest Bank (INVESTB) 10% limit down but from just two trades, and Abu Dhabi National Hotels (ADNH) down just 0.51%, the only loser trading more than AED 1m worth. National Bank of Abu Dhabi (NBAD) was up 1.4%, and Emirates Telecom (ETISALAT) was unchanged.

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