UAE market news & discussions for 07 June 2009The UAE markets started the week on a positive note ahead of the DubaiShareTalk / ShareWadi meeting at Nasdaq Dubai this evening (and sharewadi looks forward to meeting all those who are able to attend :)). Abu Dhabi was up 1.8% to 2854 points from turnover of AED 556m, and Dubai rose 2.4% to 2073 points from turnover of almost AED 2 billion with Gulf Navigation soaring over 12% on strong volumes. On Nasdaq Dubai at 14:45 UAE time, DP World is down 3.85%, Damas has plummeted 15%, Depa is unchanged, and the ever volatile Boulder Steel is up 31% from just one trade.
Dubai Financial MarketEmaar Properties (EMAAR) (+1.3% to 3.98 from AED 381m turnover) was the most heavily traded stock but Deyaar Development (DEYAAR) stood out in second place on turnover with a good rise (+7.6% to 0.85 from AED 261m). Gulf Navigation (GULFNAV) was also heavily traded and topped the gainers list (+12.2% to 0.83 from AED 191m). Another 5 stocks traded more than AED 100m: Arabtec (ARTC) (-0.33%), Dubai Financial Market (DFM) (1.5%), Dubai Investment Company (DIC) (+3.65%), Drake & Scull (DSI) (+1.1%), and Air Arabia (AIRARABIA) (+3.8%). Union Properties (UPP) (+7.45% to 1.01) was another standout gainer and saw turnover just shy of AED 100m worth. Other gainers included TAKAFUL-EM (+7.1%), National General Cooling (TABREED) (+6.6%), Emirates NBD (ENBD) (+5% limit up), Dubai Islamic Insurance (AMAN) (+4.9%), Dar Takaful Insurance (DARTAKAFUL) (+4.9%), and the remainder up less than 4% or on turnover of less than AED 1m. There were 8 losers, but only Arabtec fell on more than AED 1m of turnover. Abu Dhabi Securities ExchangeRas Al Khaimah Properties (RAKPROP) (+4.05% to 0.79 from AED 123m) was the only stock in Abu Dhabi with turnover of more than AED 100m. Sorouh Real Estate (SOROUH) (+1.7% to 3.57 from AED 97m) was just under that level. Top gainer on turnover of more than AED 1m was Ras Al Khaimah White Cement (RAKWCT) (+5.8% to 1.06). Other gainers included Gulf Cement (GCEM) (+5.5%), Waha Capital (OILC) (+4.7%), Emirates Telecom (ETISALAT) (+3.35%), Union National Bank (UNB) (+3.3%), and the remainder up less than 3% or on low volumes. There were 8 losers, including Qatar Telecom (QTEL) (-2.7%), Methaq Islamic Insurance (METHAQ) (-1.85%), Abu Dhabi Islamic Bank (ADIB) (-0.91%), and Arkan Building Materials (ARKAN) (-0.79%); the others falling on thin trading. |
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UAE stock market news and discussions at Dubai Share Talk ...
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