UAE market news & discussions for 26 August 2009 UAE stocks were solidly in the green today with the ADX up 1.15% to 2856 points from AED 324m of turnover and the DFM up 1.35% to 1873 points from AED 473m of turnover. On the Nasdaq Dubai at 16:15 UAE time, DP World is up 6.7%, Depa is unchanged, Damas is down 3.5%, and there has been one small trade in Arabtec derivatives, price unchanged. UAE financial news - latest news from Reuters, Bloomberg and UAE media Dubai Financial Market Emaar Properties (EMAAR) was at the top of the traded value list with AED 170m worth and a 3.5% rise to 3.24. Arabtec (ARTC) was the only other stock trading more than AED 100m worth and rose 3.55% to 2.92 from AED 146m worth of deals. Both stocks were also near the top of the gainers list. The rarely traded Gulfa Mineral Water (GULFA) was the best gainer with a 5% limit up rise from just one small deal. Emarat Takaful Insurance (TAKAFUL-EM) was the best of the more active gainers, rising 3.7% to 1.70. Dubai Investment Company (DIC) rose 3.4%, Gulf Navigation (GULFNAV) 2.8%, Shuaa Capital (SHUAA) 2.7%, Drake & Scull (DSI) 2.3%, Air Arabia (AIRARABIA) 2.1%, and the remaining gainers were up less than 2%. There were 5 losers today, all falling between 1% and 2%, including Emirates NBD (ENBD) down 1.1% on low volumes, and as usual, distorting the overall index. Emirates Integrated Telecommunications (DU) was the only loser on turnover of more than AED 1m, also falling 1.1%. Abu Dhabi Securities Exchange Aldar Properties (ALDAR) was the most active stock in Abu Dhabi, rising AED 3.5% to 4.75 from AED 84m worth of shares. Agthia Group (AGTHIA) was the top actively traded gainer, up 4.15% to 1.98, although there were another 6 stocks rising by higher amounts from low volumes including Foodco Holding (FOODCO), Emirates Driving Company (DRIVE), and National Bank Of Ras Al Khaimah (RAKBANK) all closing 10% limit up. To put it into perspective a bit though, 3 of the top gainers rose from single trades of just 50 or 100 shares (Emaar traded over 50 million shares today). Other gainers included Abu Dhabi National Hotels (ADNH) up 4.1% from a single trade, Ras Al Khaimah Cement (RAKCC) up 3.9%, Green Crescent Insurance (GCIC) up 3.8%, Sorouh Real Estate (SOROUH) up 3.0%, and the remainder up less than 3%, including National Bank of Abu Dhabi (NBAD) up 1.9% and Emirates Telecom (ETISALAT) up 1.5%. Arkan Building Materials (ARKAN) plummeted 10% limit down to 3.42, making it the worst loser, no doubt affected by the news that gifted shares had been unlocked. There were 6 other losers, with only Methaq Islamic Insurance (METHAQ) (-0.19%) and Union National Bank (UNB) (-3.3%) trading more than AED 1m worth of shares. | |