UAE market news & discussions for 07 July 2009 The ADX fell 0.3% to 2618 points from turnover of AED 138m due mostly to a fall in the two heavyweights, Etisalat and NBAD, despite most of the more active stocks in the green. The DFM gained 2.25% to 1760 points from AED 301m of turnover with all stocks in the green except for Du and Emirates NBD. On the Nasdaq Dubai at 14:45 UAE time, DP World is down 2.5%, Damas is down 7.4%, and a handful of derivative trades in DIB, Arabtec, and ADCB are all in the green. Dubai Financial MarketEmaar Properties (EMAAR) was the most active stock but still only traded AED 70m worth as it rose 4.4% to 2.59. Kuwait Finance and Investment (KFIC), a Kuwait secondary listing, was 15% limit up on what must be one of the smallest trades ever seen - just 7 shares. Deyaar Development (DEYAAR) topped the list of more active gainers with a 5.7% rise to 0.74, followed by Dubai Financial Market (DFM) and Arabtec (ARTC) up just over 5%. Shuaa Capital (SHUAA) was up 4.1% and most other stocks rose between 1% and 4%. Emirates Integrated Telecommunications (DU) fell 0.39% and Emirates NBD (ENBD) was unchanged. Abu Dhabi Securities Exchange The three Abu Dhabi property listings were the most active stocks but the best of them, Aldar Properties (ALDAR) up 2.8%, still only saw just over AED 25m worth of deals. Sorouh Real Estate (SOROUH) and Ras Al Khaimah Properties (RAKPROP) were up about 1.5% each. Methaq Islamic Insurance (METHAQ) was the best gainer, rising 5.6% to 5.38, Abu Dhabi Aviation (ADAVIATION) was up 3.7%, Abu Dhabi Commercial Bank (ADCB) 2.3%, and the other gainers up less than 2% or on turnover of less than AED 1m. Dana Gas (DANA) was the worst loser of the more actively traded stocks, but fell just 0.93%, Emirates Telecom (ETISALAT) was down 0.5%, National Bank of Abu Dhabi (NBAD) fell 2.7% on low volumes, Abu Dhabi Islamic Bank (ADIB), Abu Dhabi National Energy (TAQA), and Aabar Energy (AABAR) fell less then 1%, and the other losers all fell on less than AED 1m worth of trading. | |