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Home / Features / UAE Financial Market News

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UAE Financial Market News

09 March 2010. UAE stocks saw yet more trading and some good gains for Aldar and Sorouh in Abu Dhabi, but in Dubai Tabreed closed limit down again. On the Nasdaq Dubai at 1430 UAE time, DP World is up 1.4%, Damas is unchanged, and Depa is down 2.5%. Dubai Financial Market Dubai stocks rose 0.84% to 1663 points with trading volumes up at AED 795m worth. Emaar Properties (EMAAR) was the most active stock, up 1.8% to 3.40 from AED 320m. Arabtec (ARTC), up 0.45%, and Dubai Financial Market (DFM), up 3.3% (also the best of the more active gainers), also saw trading of more than AED 100m worth. Dubai Islamic Bank (DIB) was up 3.0%, Drake & Scull (DSI) rose 2.3%. Emirates NBD (ENBD) was up 2.05, and the remaining gainers were up less 2%, except for a few small trades in National Cement Company (NCC) which closed 5% limit up at 3.88. The worst loser was National General Cooling (TABREED), 10% limit down at 0.52, HITS Telecom fell 5.0%, Gulf General Investment (GGICO) and Commercial Bank of Dubai (CBD) were 5% limit down on low volumes, Union Properties (UPP) and Deyaar Development (DEYAAR) fell 2.1%, and the other losers were down less than 2% or on low volumes. Abu Dhabi Securities Exchange Abu Dhabi stocks rose 0.74% to 2795 points with turnover up again, to AED 354m worth of trading, with both Aldar Properties (ALDAR), 10% limit up to 3.90, and Sorouh Real Estate (SOROUH), 5.9% up to 2.36, trading more than AED 100m worth, and both at the top of the gainers list, except for one small 10% limit up trade for Commercial Bank International (CBI). Other gainers included Abu Dhabi Commercial Bank (ADCB) up 5.6%, Aabar Energy (AABAR) up 3.2%, and Gulf Pharmaceutical Industries (JULPHAR) up 2.1%. The remaining gainers wer up less than 2%. Emirates Telecom (ETISALAT) rose 0.41% to 12.15, and National Bank of Abu Dhabi (NBAD) was unchanged at 11.70. First Gulf Bank (FGB) was the worst of the more active losers, down 1.4% to 17.70, Waha Capital (OILC) fell 1.05%, and the other losers fell less than 1% or on low volumes, including one 10% limit down trade for Finance House (FH), and a 9.8% fall for Qatar Telecom (QTEL).

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