UAE market news & discussions for 09 August 2009The DFM started the day well but in the end edged down by 0.09% to 1918 points with AED 702m worth of trading. The ADX managed to stay in the green with a 0.49% rise to 2858 points from low turnover of AED 233m. On the Nasdaq Dubai at 14:30 UAE time, DP World is up 2.9%, Depa and Damas are unchanged, and Air Arabia derivatives are up 7% from a couple of trades. UAE financial news - latest news from Reuters, Bloomberg and UAE mediaDubai Financial MarketEmaar Properties (EMAAR) was by far the most actively traded stock with AED 226m worth of deals and a 0.3% rise to 3.15 after falling from an intra-day high of 3.28. No other stocks traded more than AED 100m worth. Emarat Takaful Insurance (TAKAFUL-EM) (+4.9%) was the best of the more active gainers, Emirates NBD (ENBD) rose 2.8% from low volumes, Gulf General Investment (GGICO) rose 1.7%, Dar Takaful Insurance (DARTAKAFUL) was up 1.6%, Union Properties (UPP) and Shuaa Capital (SHUAA) rose less than 1%, and 4 other gainers rose on less than AED 1m worth of trading. Arab International Logistics (ARMX) was the worst loser on active trading, Ajman Islamic Bank (AJMANBANK) fell 3.5%, Dubai Islamic Insurance (AMAN) 2.3%, National General Cooling (TABREED) 2.1%, and the remaining losers fell less than 2% except for Al Mazaya Holding (MAZAYA) which dropped 10% limit down from one small trade. Abu Dhabi Securities ExchangeAabar Energy (AABAR) (+1.9%) and Dana Gas (DANA) (-2.4%) were the most active stocks by value in Abu Dhabi but neither traded more than AED 50m worth. Aabar was also the best of the more active gainers although First Gulf Bank (FGB) rose 4.1% from low turnover. Aldar Properties (ALDAR) was up 1.7%, Sorouh Real Estate (SOROUH) 1.6%, Emirates Telecom (ETISALAT) 1.0%, and the remaining gainers rose less than 1% or on low volumes. Ras Al Khaimah White Cement (RAKWCT) was the worst loser, falling 6.8%, Abu Dhabi National Energy (TAQA) fell 1.7%, Green Crescent Insurance (GCIC) 1.5%, and the remainder fell less than 1.5% or on low turnover. | |