UAE market news & discussions for 25 June 2009 So much for yesterday's recovery in Dubai. The DFM plummeted 2.55% to 1859 points from turnover of AED 868m today although although Shuaa shot up 15%, while Abu Dhabi closed almost flat with a 0.05% fall to 2628 points from lowish turnover of AED 273m. On the Nasdaq Dubai at 14:00 UAE time, DP World is down 0.28%, Depa is unchanged, and there have been single trades in derivatives for Dana, Sorouh, and Arabtec. Dubai Financial MarketEmaar Properties (EMAAR) topped the traded value table with AED 276m worth of turnover and a 4.5% fall to 3.21. Drake & Scull (DSI) was also busy with AED 235m worth of deals and a 4.0% fall to 0.97. No other stocks traded more than AED 100m worth. Emarat Takaful Insurance (TAKAFUL-EM) was the worst of the more actively traded stocks, falling 7.1% to 1.71. Islamic Arab Insurance (IAIC) fell 5.0%, Emirates NBD (ENBD) 4.3%, Dubai Islamic Bank (DIB), Deyaar Development (DEYAAR), Dubai Financial Market (DFM), and Arabtec (ARTC) fell between 3% and 4%, and the remaining losers were down less than 3% or on thin trading. Shuaa Capital (SHUAA) opened at 15% limit up on the news of an agreement with DBG and few shares were traded due to the lack of willing sellers. National General Cooling (TABREED) was the only other gainer on active trading, rising 4.5% to 0.93. Abu Dhabi Securities ExchangeAldar Properties (ALDAR), down 2.1% to 3.57, and Ras Al Khaimah Properties (RAKPROP), unchanged at 0.75, were the two most active stocks by value but neither saw more than AED 100m worth of deals. National Marine Dredging (NMDC) and Sharjah Cement (SCIDC) closed 10% limit up on low volumes with no willing sellers for either company, Finance House (FH), up 6.4% to 5.00, was the best gainer on turnover of more than AED 1m, Abu Dhabi National Hotels (ADNH) rose 4.2%, Dana Gas (DANA) 3.1%, Aabar Energy (AABAR) 2.1%, and the remaining gainers were up less than 2% or on low volumes. Emirates Telecom (ETISALAT) closed unchanged (sort of) at 9.96. Invest Bank (INVESTB) was the worst loser closing almost limit down at 1.60 with no willing sellers, and higher than usual volumes despite that. Union National Bank (UNB) closed 10% limit down but from low turnover, Abu Dhabi Commercial Bank (ADCB) fell 4.1%, Methaq Islamic Insurance (METHAQ) 3.05%, and the remainder fell less than 3% or on low volumes. National Bank of Abu Dhabi (NBAD) dropped 0.51% to 9.95. | |