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UAE Financial Market News
24 October 2010. UAE stocks rose with the ADX much busier than the DFM for a change. On the Nasdaq Dubai, DP World was the only stock traded, up 3.45% to 0.60. Dubai Financial Market Dubai stocks rose 0.17% to 1747 points from trading worth AED 117m with Emaar Properties (EMAAR) the most active stock, unchanged at 3.85 from AED 23m. HITS Telecom was the top gainer, up 7.5% to 0.93, Dubai Islamic Insurance (AMAN) closed 5% limit up. Dubai Insurance (DIN) rose 3.6%, and the other gainers were up less than 2% or on thin trading. There were 7 losers with only Gulf Navigation (GULFNAV), Air Arabia (AIRARABIA), and Drake & Scull (DSI) trading more than AED 1m each - all down less than 1%. Abu Dhabi Securities Exchange Abu Dhabi stocks rose 0.48% to 2821 points from trading worth 274m with Aldar Properties (ALDAR) the only stock trading more than AED 100m, up 2.8% to 2.58 from AED 110m. Methaq Islamic Insurance (METHAQ) was one of the top gainers, closing 10% limit up at 1.95 with no sellers in the queue. Abu Dhabi Ship Building (ADSB) and Commercial Bank International (CBI) also closed 10% limit up but from just a couple of small trades. Arkan Building Materials (ARKAN) rose 4.7%, Waha Capital (OILC) 2.5%, Ras Al Khaimah Properties (RAKPROP) 2.1%, and the other gainers were up less than 2% or on thin trading. Emirates Telecom (ETISALAT) and National Bank of Abu Dhabi (NBAD) both rose just over 0.4%. Abu Dhabi Islamic Bank (ADIB) was the worst of the more active losers, down 3.75% to 3.07, Abu Dhabi National Energy (TAQA) fell 2.0%, Agthia Group (AGTHIA) 1.3%, and the other losers traded less than AED 1m.|
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