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Home / Features / UAE Financial Market News

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UAE Financial Market News

08 March 2010. UAE stocks saw another increase today, on greater volumes especially in Dubai, with Emaar leading the way on another solid rise. Tabreed plummeted on news of a loss of more than AED 1 bn for 2009. On the Nasdaq Dubai at 1445 UAE time, DP World is up 0.71%, Damas is unchanged, and Depa is up 4.35%. Dubai Financial Market Dubai stocks rose 1.7% to 1649 points from turnover up substantially to AED 537m worth of trading, although Emaar Properties (EMAAR) was still the only stock trading more than AED 100m worth of deals, up 5.4% to 3.34 from AED 280m. Shuaa Capital (SHUAA) was the top gainer, up 6.25% to 1.19, HITS Telecom rose 4.1%, Dubai Financial Market (DFM) shares were up 3.45%, and most other stocks were up less than 3% or unchanged. There were 5 losers with only National General Cooling (TABREED) trading more than AED 1m worth, closing 10% limit down at 0.57. Abu Dhabi Securities Exchange The ADX rose 1.0% to 2774 points from AED 181m worth of deals with Aldar Properties (ALDAR) the most actively traded stock, up 2.0% to 3.65 from AED 76m of turnover. National Marine Dredging (NMDC) was the best of the more actively traded stocks, up 5.9% to 9.00, Dana Gas (DANA) rose 4.8%. Abu Dhabi Commercial Bank (ADCB) 4.7%, National Bank of Abu Dhabi (NBAD) 4.5%, and the remaining gainers were up less than 3% or on low volumes, including Emirates Telecom (ETISALAT) up 0.41%. There were 7 losers with only Ras Al Khaimah Cement (RAKCC) trading more than AED 1m worth, down 1.0% to 0.97.

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