UAE market news & discussions for 09 July 2009The ADX rose 0.32% to 2589 points from turnover of AED 90m. The DFM fell 1.03% to 1682 points from turnover of AED 266m. On the Nasdaq Dubai at 14:30 UAE time, DP World is up 3.3%, Depa is unchanged at $0.60, and there has been a single trade in NBAD derivatives, up 1.5%. Dubai Financial MarketDubai Financial Market (DFM) was the most heavily traded stock in Dubai, falling 5.3% to 1.43 from AED 73m of turnover, also the worst loser of the more actively traded stocks. Dubai Investment Company (DIC) fell 2.6%, Emarat Takaful Insurance (TAKAFUL-EM) 2.1%, Emaar Properties (EMAAR) 1.25% to 2.37, Union Properties (UPP) 1.2%, Air Arabia (AIRARABIA) 1.1%, and the remaining losers were down less than 1% or on low volumes. Emirates Integrated Telecommunications (DU) and Shuaa Capital (SHUAA) were the best of the more actively traded gainers, up 3.5%, Ajman Islamic Bank (AJMANBANK), Islamic Arab Insurance (IAIC), Arab International Logistics (ARMX), and all rose less than 1%, and another 3 gainers were up on less than AED 1m of trading. Several stocks were unchanged including Drake & Scull (DSI), Deyaar Development (DEYAAR), Dubai Islamic Bank (DIB), Gulf Navigation (GULFNAV), and National General Cooling (TABREED). Abu Dhabi Securities ExchangeAldar Properties (ALDAR) was the most active stock in Abu Dhabi with a 0.85% rise to 3.51 from AED 32m of trading. Dana Gas (DANA) was the worst of the more active losers, falling 1.9% from AED 14m of trading and the only other stock with turnover of more than AED 10m. Agthia Group (AGTHIA) was the best gainer, rising 3.7% from low volumes, Waha Capital (OILC) was up 2.8% also on low volumes, First Gulf Bank (FGB) rose 1.5%, National Bank of Abu Dhabi (NBAD) 1.3%, Sorouh Real Estate (SOROUH) 1.2%, Aabar Energy (AABAR) 1.1%, Emirates Telecom (ETISALAT) 0.7%, and another 6 gainers rose less than 1% or on turnover of less than AED 1m. Union National Bank (UNB) fell 1.5%, Abu Dhabi National Energy (TAQA) 1.4% and the other losers fell less than 1% or on traded value of less than AED 1m. | |