UAE market news & discussions for 04 August 2009The DFM fell 0.37% to 1878 points from turnover of just under AED 1 billion, although Emaar rose slightly and made up a quarter of that total by value. The ADX saw a 0.86% gain to close at 2863 points from turnover of AED 355m. On the Nasdaq Dubai at 15:30 UAE time, DP World is down 2.9%, Depa is down 6.35%, Arabtec and DFM derivatives have traded in the green, and Shuaa derivatives have traded unchanged. UAE financial news - latest news from Reuters, Bloomberg and UAE mediaDubai Financial MarketEmaar Properties (EMAAR) was the most active stock in Dubai with AED 228m worth of deals and a 0.34% rise to 2.95 after spending some time above 3.00 earlier in the session. Dubai Financial Market (DFM) (-0.56%) and Arabtec (ARTC) (-0.70%) both traded a little under AED 150m each and were the only other stocks with turnover of more than AED 100m. Dubai National Insurance & Reinsurance (DNIR) was the best gainer with a 4.8% rise from just one small trade, Emirates NBD (ENBD) was the best of the more active stocks with a 4.7% increase to 3.55. The only other two gainers were Ajman Islamic Bank (AJMANBANK) up 2.7% and Al Salam Bank Sudan (ALSALAMSUDAN) up just 0.4% on low volumes. The rarely traded Aerated Concrete Industries (ACICO) was the worst loser, 10% limit down from one small trade. Gulf Navigation (GULFNAV) was the worst of the more active stocks with a 5% fall to 0.76, Shuaa Capital (SHUAA) fell 4.8%, Union Properties (UPP) 4.5%, Islamic Arab Insurance (IAIC) 4.4%, Emarat Takaful Insurance (TAKAFUL-EM) and Arab International Logistics (ARMX) 3%, and the remainder fell less than 3%. Abu Dhabi Securities ExchangeRas Al Khaimah Properties (RAKPROP) was the most actively traded stock in Abu Dhabi with AED 89m worth of deals, and also the best of the more active gainers with a 5.5% rise to 0.76. Gulf Medical Projects (GMPC) and Abu Dhabi National Insurance (ADNIC) saw rises of 8% and 10% respectively but from small single trades. Aldar Properties (ALDAR) rose 2.9%, Union National Bank (UNB) 2.4%, Ras Al Khaimah Cement (RAKCC) 2.3%, National Bank of Abu Dhabi (NBAD) 2.2%, Sorouh Real Estate (SOROUH) 2.0%, and the remaining gainers were up less than 2% or on low volumes, including Emirates Telecom (ETISALAT) up 1% to 10.25. Gulf Pharmaceutical Industries (JULPHAR) was the worst of the losers on more active trading, falling 6.6% to 1.55. Dana Gas (DANA) (-1.7%) and Agthia Group (AGTHIA) (-1.1%) were the only other two losers trading more than AED 1m worth. | |