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UAE Financial Market News

20 October 2010. Abu Dhabi stocks fell, led by Etisalat, while Dubai stocks rose with a solid gain for Dubai Islamic Bank. On the Nasdaq Dubai DP World fell 0.86%, DGS rose 0.57%, Depa fell 3.0%. Dubai Financial Market Dubai stocks rose 0.64% to 1755 points from trading worth AED 270m with Dubai Islamic Bank (DIB) the most active stock, and also the top gainer, up 5.1% to 2.46 from AED 71m. Islamic Arab Insurance (IAIC) rose 4.0%, Al Madina Finance (ALMADINA) 2.2% on thin trading, HITS Telecom 2.1%, and the other gainers were up less than 2%, including Emaar Properties (EMAAR) up 0.26%. Air Arabia (AIRARABIA) and Deyaar Development (DEYAAR) were the worst of the more active losers, down 0.95%, Emirates Integrated Telecommunications (DU) fell 0.64% on relatively heavy trading, and the other losers fell less than 0.50% or on thin trading. Abu Dhabi Securities Exchange Abu Dhabi stocks fell 0.76% to 2786 points from trading worth AED 139m with Emirates Telecom (ETISALAT) the most actively traded stock, down 2.1% to 11.65 from AED 35m. Ras Al Khaimah Properties (RAKPROP) was the worst of the more active losers, down 2.1% to 0.47. Abu Dhabi Islamic Bank (ADIB) fell 1.6%, Aldar Properties (ALDAR) 1.2%, Sorouh Real Estate (SOROUH) 1.1%, and the other losers were down less than 1% or on thin trading. Methaq Islamic Insurance (METHAQ) and Arkan Building Materials (ARKAN) were the top gainers, both closing 10% limit up with no sellers in the queue. Green Crescent Insurance (GCIC) rose 5.4%, Ras Al Khaimah Cement (RAKCC) 3.9%, and the other gainers were up less than 2% or on thin trading.

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