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Home / Features / UAE Financial Market News

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UAE Financial Market News

31 January 2010. The DFM fell and the ADX rose, with both markets trading low volumes. Gulf Navigation stood out with a good gain, and Aramex was up only 1.2%, their good Q4 results offset by a poor rating from Goldman Sachs. On the Nasdaq Dubai at 1445 UAE time, DP World is down 1.8%, and Depa is unchanged. Dubai Financial Market The Dubai index fell 0.59% to 1590 points from turnover of AED 209m with Emaar Properties (EMAAR) the most actively traded stock, down 0.65% to 3.07 from AED 85m worth of shares. Dar Takaful Insurance (DARTAKAFUL) was the worst loser, 10% limit down to 1.39 but from thin trading. Emirates NBD (ENBD) was the worst of the more active losers, down 4.1% to 2.35, and most other stocks fell less than 3%. Gulf Navigation (GULFNAV) was the top gainer, up 7.1% to 0.60, Gulf General Investment (GGICO) was 5% limit up but from low volumes, Drake & Scull (DSI) was up 2.35%, and the other gainers were up less than 2% or on low volumes. Abu Dhabi Securities Exchange The ADX rose slightly by 0.20% to 2633 points from limited trading of AED 87m worth of shares with Aldar Properties (ALDAR) the most active stock but still only trading AED 17m worth as it fell 2% to 3.94. Ras Al Khaimah White Cement (RAKWCT) was the best of the more active gainers, 10% limit up to 1.04, Gulf Medical Projects (GMPC) and Umm Al Quwain Cement (QCEM) also closed 10% limit up but on low volumes. Abu Dhabi Commercial Bank (ADCB) and Methaq Islamic Insurance (METHAQ) were up more than 4%, Ras Al Khaimah Properties (RAKPROP) rose 3.9%, and the other gainers were up less than 3% or on low volumes. Apart from Aldar, Sorouh Real Estate (SOROUH), down 1.3%, was the only other loser trading more than AED 1m worth. Emirates Telecom (ETISALAT) and National Bank of Abu Dhabi (NBAD) were unchanged.

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