UAE market news & discussions for 20 August 2009The ADX rose 0.40% to 2798 points from turnover of AED 209m and the DFM was up 1.4% to 1814 points from turnover of AED 414m. On the Nasdaq Dubai at 14:45 UAE time, DP World is the only stock traded so far, up 0.57% to $0.352. DFM announced that Ramadan trading hours would be unchanged, i.e. 1000-1400. UAE financial news - latest news from Reuters, Bloomberg and UAE mediaDubai Financial MarketEmaar Properties (EMAAR) was the most active stock in Dubai with AED 147m worth of deals and a 2.7% increase to 3.02. Dar Takaful Insurance (DARTAKAFUL) was the top gainer, up 6.1% to 2.43. Dubai Financial Market (DFM) rose 4.2%, Emarat Takaful Insurance (TAKAFUL-EM) 3.85%, Arabtec (ARTC) 3.1%, and most other stocks were up less than 3%. Deyaar Development (DEYAAR), Dubai Investment Company (DIC), National General Cooling (TABREED), and Emirates Integrated Telecommunications (DU) were unchanged. Only three stocks fell - Gulf General Investment (GGICO), Dubai Refreshments (DRC), and Al Mazaya Holding (MAZAYA) - and none on significant trading levels. Abu Dhabi Securities ExchangeSorouh Real Estate (SOROUH) (+2.5%) and Aldar Properties (ALDAR) (+3.7%) were the most active stocks in Abu Dhabi, both trading over AED 40m worth. Methaq Islamic Insurance (METHAQ) was the top gainer, up 8.15% to 5.45, Abu Dhabi Aviation (ADAVIATION) was up 6.4% on thin trading, Green Crescent Insurance (GCIC) rose 6.0%, Aabar Energy (AABAR) 2.4%, and the remaining gainers were up less than 2%. There were 10 losers, including National Bank of Abu Dhabi (NBAD) down 0.75%, First Gulf Bank (FGB) down 1.2% and Union National Bank (UNB) down 2.05%, but none of the losers saw trading of more than AED 1m worth. Emirates Telecom (ETISALAT) was up 1% to 10.35. | |