UAE market news & discussions for 28 April 2009Dubai Financial MarketUAE markets followed world markets today falling over one percent on pandemic concerns, falling oil prices and renewed doubts about the banks. However, trading volumes were down. The Dubai Financial Market (DFM) index closed down 1.39% at 1,546 with 213 million shares traded worth 255 million dirhams. All the heavy weights fell including, Arabtec (ARTC) (2.59%), Deyaar Development (DEYAAR) (3.27%), Dubai Islamic Bank (DIB) (1.78%) and Emaar Properties (EMAAR) (1.30%) Ajman Islamic Bank (AJMANBANK) managed a gain of 2.88%. The ADX index closed down 1.14% at 2,444 with 99 million shares traded worth 198 million dirhams. Banking was mixed with Abu Dhabi Commercial Bank (ADCB) up 1.30% and Bank of Sharjah (BOS) up 0.69%. However, First Gulf Bank (FGB) down 5.37% and WAHA down 2.90% were lower. In Realestate all were down, Aldar Properties (ALDAR) down 6.27%, Ras Al Khaimah Properties (RAKPROP) down 3.45% and Sorouh Real Estate (SOROUH) down 5.22%. Energy was mixed Aabar Energy (AABAR) up 0.51% and Abu Dhabi National Energy (TAQA) up 0.55%, and Dana Gas (DANA) down 2.60%. For Telecoms, Emirates Telecom (ETISALAT) closed 0.91% lower Abu Dhabi Securities Exchange | |