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Home / Features / UAE Financial Market News

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UAE Financial Market News

04 February 2010. It was a quiet day on the markets with a slight rise in Dubai despite most stocks falling, and a fall in Abu Dhabi, with both markets trading very low volumes. On the Nasdaq Dubai at 1445 UAE time, DP World is down 1.8%, and Depa is down 0.74%. The Dubai index rose just 0.22% to 1663 points from turnover of AED 158m with Emaar Properties (EMAAR) the most active stock, up 1.5% to 3.31 from AED 77m worth of deals. Arab International Logistics (ARMX) was the top gainer on more than AED 1m worth of turnover, rising just 1.8% to 1.69. Drake & Scull (DSI) and Emirates Integrated Telecommunications (DU) rose about 1%, Dubai Islamic Bank (DIB) was up 0.46%, and the top two gainers, Global Investment House (GLOBAL) and National Cement Company (NCC) rose on just a handful of trades. Several stocks were unchanged, including Arabtec (ARTC), Gulf Navigation (GULFNAV), and Dubai Investment Company (DIC). Dar Takaful Insurance (DARTAKAFUL) was the worst loser, falling 3.95% to 1.46, Dubai Islamic Insurance (AMAN) was down 3.2%, Union Properties (UPP) fell 1.85%, Air Arabia (AIRARABIA) 1.05%, and the other losers fell less than 1% or on low volumes. Abu Dhabi Securities Exchange The ADX fell 0.68% to 2705 points from turnover of AED 85m with Dana Gas (DANA) the most actively traded stock, down 1.1% to 0.90 from just AED 17m worth. Arkan Building Materials (ARKAN) was the worst loser on trading of more than AED 1m, down 2.25% to 2.18, First Gulf Bank (FGB) fell 2.1%. National Bank of Abu Dhabi (NBAD) 2.0%, and the remaining losers were down less than 2% or on low volumes. Emirates Telecom (ETISALAT) was unchanged at 11.10. Ras Al Khaimah White Cement (RAKWCT) and Aabar Energy (AABAR) were the only gainers with turnover of more than AED 1m, both rising by less than 1%.

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