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UAE Financial Market News

07 November 2010. Stocks rose in Abu Dhabi but fell in Dubai with sharp falls for Arabtec and Deyaar. On the Nasdaq Dubai, DP World fell 0.82%, Depa was unchanged, and DGS fell 0.57%. Dubai Financial Market Dubai stocks fell 0.92% to 1722 points from trading worth AED 262m with Arabtec (ARTC) the most active stock, down 5.1% to 2.04 from AED 78m. Emaar Properties (EMAAR) was in second spot on turnover, unchanged at 3.74 from AED 66m. Deyaar Development (DEYAAR) was the worst loser, down 7.8% to 0.31, Al Salam Bank Sudan (ALSALAMSUDAN) fell 5.35% on thin trading. Dubai Islamic Bank (DIB) fell 3.8%, Dubai Financial Market (DFM) 3.5%, Emarat Takaful Insurance (TAKAFUL-EM) 3.4%, and the other losers were down less than 3%. Al Madina Finance (ALMADINA) was the best of the more active gainers, up 2.3% to 0.75, and the other gainers were up less than 1% or on thin trading. Abu Dhabi Securities Exchange Abu Dhabi stocks rose 0.72% to 2770 points from trading worth AED 197m with Aldar Properties (ALDAR) the most active stock, up 0.43% to 2.26 from AED 34m. Foodco Holding (FOODCO) stood out with a single trade of 10m shares, down 0.63% to 3.12, and there was also a large single trade of 3m shares for Finance House (FH), up 0.22% to 4.60. Four stocks closed 10% limit up - Al Wathba National Insurance (AWNIC) from one small trade, Methaq Islamic Insurance (METHAQ), Arkan Building Materials (ARKAN), and Green Crescent Insurance (GCIC). Ras Al Khaimah Cement (RAKCC) rose 6.6%, First Gulf Bank (FGB) 3.85%, Sharjah Islamic Bank (NBS) 3.3%, Ras Al Khaimah Properties (RAKPROP) and National Bank of Abu Dhabi (NBAD) 2.1%, and the other gainers were up less than 2%. Agthia Group (AGTHIA) was the worst of the more active losers, down 2.3%, Sorouh Real Estate (SOROUH) fell 1.2%, and the other losers were down less than 1% or on thin trading.

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