UAE market news & discussions for 04 February 2009A split day on UAE markets today as the DFM rose although off earlier highs and the ADX closed slightly down. Volume remains subdued but was better than the last few trading days.
The DFM index closed 0.26% higher at 1,458 with 260 million shares traded worth Dh259 million.
turnover was again lead by ARTC limit down at 0.78, however, this was offset by gains for AIRARABIA up 1.09% and EMAAR up 3.38% and DFM up 1.31%.
The ADX index closed 0.39% down at 2,137 with 85 million shares trading worth DH199 million.
Trading was lead by FGB steady at 7.65, ALDAR down 2.30%, SOROUH down 5.06% and ETISALAT up 0.73%.
In business news the Abu Dhabi government has stepped in to provide liquidity to local banks in the Emirate. DEYAAR also annouced it was reviewing 25% of the projects on its books. Projects started would be completed.
RESULTS
TAKAFUL-EM 2008Q4 profit Dh0.23m Dubai Financial MarketOn the Dubai Financial Market 8 shares advanced and 14 declined.
Most sectors closed higher except for Telcoms and Investment.
Arabtec (ARTC) continues its decline closing limit down once again. Still no explanation from the Exchnage or the company for the fall.
The following shares closed higher Air Arabia (AIRARABIA) 0.92 (1.09%), ARAMEX 0.93 (3.33%), Dubai Financial Market (DFM) 0.77 (1.31%), Emaar Properties (EMAAR) 1.83 (3.38%), Emirates NBD (ENBD) 3.34 (1.21%) and Shuaa Capital (SHUAA) 1.10 (5.76%).
Losers on the day included: Gulf Navigation (GULFNAV) 0.50 (1.96%), Dubai Islamic Bank (DIB) 1.67 (0.59%), Dubai Investment Company (DIC) 0.93 (3.12%) and Emirates Integrated Telecommunications (DU) 1.85 (1.59%). Abu Dhabi Securities ExchangeOn the ADX 10 shares advanced and 13 declined
Banks were mixed despite the Abu Dhabi based banks receiving cash form the Government. Abu Dhabi Commercial Bank (ADCB) did not trade ahead of the BOD meeting. Bank of Sharjah (BOS) continued its climb up 3.36%. Abu Dhabi Islamic Bank (ADIB) was down 6.30% and National Bank of Abu Dhabi (NBAD) down 3.03%.
In Realestate Aldar Properties (ALDAR) 2.12 down 2.30% and Sorouh Real Estate (SOROUH) 2.25 down 5.06%.
In Energy Aabar Energy (AABAR) was up 2.44% and Dana Gas (DANA) and Abu Dhabi National Energy (TAQA) closed unchanged.
In Construction Arkan Building Materials (ARKAN) was heavily traded closing down 0.17% at 6.04.
In Telcoms Emirates Telecom (ETISALAT) was up 0.73% at 9.60. | |
