UAE market news & discussions for 01 September 2009The ADX rose 0.54% to 2913 points from turnover of AED 373 million, with heavy trading in Aabar heading 10% limit down. The DFM fell 0.97% to 1896 points from increased turnover of almost AED 1 billion. On the Nasdaq Dubai at 1600 UAE time, DP World is up 7.1%, Depa is unchanged, and Shuaa derivatives are up about 8%. UAE financial news - latest news from Reuters, Bloomberg and UAE mediaDubai Financial MarketEmaar Properties (EMAAR) was the most heavily traded stock in Dubai with AED 274m worth of deals, falling 2.6% to 3.38. Air Arabia (AIRARABIA) (+2.0%) and Dubai Financial Market (DFM) (-1.6%) also saw more than AED 100m worth of turnover, Air Arabia was also the best gainer of the day, except for a single trade in Commercial Bank of Dubai (CBD) (+2.9%). Dubai Islamic Bank (DIB), up 1.2% to 2.60, and Dar Takaful Insurance (DARTAKAFUL) up just 0.4%, were the only other two gainers on active trading. National General Cooling (TABREED) and Ajman Islamic Bank (AJMANBANK) closed unchanged, and almost all other actively traded stocks fell between 0% and 3%. The exceptions were Gulf General Investment (GGICO) 5% limit down, and Shuaa Capital (SHUAA) down 5.05% to 1.88, the worst loser. Abu Dhabi Securities ExchangeAabar Energy (AABAR) was the only stock in Abu Dhabi trading more than AED 100m, with AED 123m worth of deals and share price 10% limit down at 2.54 with no buyers in the queue at the end of the day. Aldar Properties (ALDAR) (+1.9%) and Sorouh Real Estate (SOROUH) (+0.32%) were the next most actively traded stocks with just over AED 70m worth each. Aldar was also the best of the more active gainers - the top 5 in the green list ahead of Aldar saw less than AED 0.5m worth of trades between them. Abu Dhabi Commercial Bank (ADCB), National Bank of Abu Dhabi (NBAD), Invest Bank (INVESTB), and Abu Dhabi Islamic Bank (ADIB) all rose over 1%, and the remaining gainers were up less than 1%, including Emirates Telecom (ETISALAT) up 0.46%. Aabar was the worst loser in Abu Dhabi, Green Crescent Insurance (GCIC) fell 1.5%, Arkan Building Materials (ARKAN) 1.2%, and the other losers were down less than 1% or on low volumes. | |