UAE market news & discussions for 10 June 2009 Lots of green in the UAE today with several stocks rising more than 10%, including Union Properties and some of the insurance companies. The ADX rose 1.8% to 2839 points from turnover of AED 449m and the DFM was up 3.6% to 2077 points from AED 1.6 billion of turnover. On Nasdaq Dubai at 15:00 UAE time, DP World is down 3.6%, Depa is unchanged, Damas is up 2.7%, and there have been a couple of trades in Union Properties and Dubai Islamic Bank, both in the green. Dubai Financial MarketSeveral stocks traded more than AED 100m worth in Dubai today, some on solid gains: Emaar Properties (EMAAR) (+4.5% to 3.93 from AED 282m), Arabtec (ARTC) (+6.2% to 3.08 from AED 266m), Deyaar Development (DEYAAR) (+4.7% to 0.89 from AED 181), Union Properties (UPP) (+13.9% to 1.15 from AED 138m), Gulf Navigation (GULFNAV) (+3.5% to 0.88 from AED 106m), and Dubai Financial Market (DFM) (+3.2% to 1.95 from AED 103m). Gains included 15% limit up for Emarat Takaful Insurance (TAKAFUL-EM) and Dubai Islamic Insurance (AMAN), 13.3% for Dar Takaful Insurance (DARTAKAFUL), 12.4% for Islamic Arab Insurance (IAIC), 7.4% for National General Cooling (TABREED), 5% limit up for Emirates Integrated Telecommunications (DU), and the remainder up by less than 5% or on turnover of less than AED 1m. The only loser in Dubai today was Gulf General Investment (GGICO), falling just 0.5% to 2.00. Abu Dhabi Securities ExchangeRas Al Khaimah Properties (RAKPROP) (+4.0% to 0.79 from AED 103m) was the only Abu Dhabi stock trading more than AED 100m. Top gainer on active trading was Methaq Islamic Insurance (METHAQ) closing 10% limit up from AED 26m worth of deals. Other gainers included Dana Gas (DANA) up 4.4%, Ras Al Khaimah Cement (RAKCC) up 4.3%, Aldar Properties (ALDAR) and Ras Al Khaimah White Cement (RAKWCT) up 4.0%, Union National Bank (UNB) up 3.6%, First Gulf Bank (FGB) up 3.2%, and Sorouh Real Estate (SOROUH) up 3.0%. Most other stocks rose less than 3% or on thin trading. Emirates Telecom (ETISALAT) rose just 0.93%, and National Bank of Abu Dhabi (NBAD) was up 1.55%. There were only 5 losers, none on turnover of more than AED 1m. | |