UAE market news & discussions for 04 November 2009The ADX was up by just 0.1% to 2951 points from AED 300m. Volatility continued in Dubai with the index up 3% to 2138 points from AED 679m worth of trading, with many of the more active stocks rising by more than 3%. On the Nasdaq Dubai at 1415 UAE time, DP World is unchanged, Depa is up 3.6%, Boulder Steel is down 18%, and a couple of DFM derivatives have traded in the green. UAE financial news - latest news from Reuters, Bloomberg and UAE mediaDubai Financial MarketEmaar Properties (EMAAR) was the most active stock in Dubai and almost at the top of the gainers list, rising 6.2% to 4.30 from AED 320m worth of deals. Dubai Financial Market (DFM) was the only other stock trading more than AED 100m, rising 5.7% to 2.23 from AED 138m worth. Kuwait Finance and Investment (KFIC) was the top gainer, 15% limit up, but from just one small trade. Shuaa Capital (SHUAA) was the top gainer on turnover of more than AED 1m, up 7.7% to 1.82. Most stocks were in the green today, including Union Properties (UPP) up 5.4%, Gulfa Mineral Water (GULFA) 5% limit up from thin trading, Arab International Logistics (ARMX) up 4.3%, Gulf Navigation (GULFNAV) up 4.2%, Arabtec (ARTC) up 3.95%, and the remainder up less than 4% or on low volumes. There were only two losers: National Cement Company (NCC) 5% limit down to 3.23, and Al Madina Finance (ALMADINA) down 0.87%, both stocks trading low volumes. Abu Dhabi Securities ExchangeBank of Sharjah (BOS) was a surprise in Abu Dhabi as the most active stock, rising 1.05% to 1.99 from AED 87m worth of deals - but there were only 6 trades. Sorouh Real Estate (SOROUH) was in second place by turnover, with AED 82m worth and falling 0.3% to 3.26. Ras Al Khaimah Cement (RAKCC) was the best of the more active gainers, rising 2.6% to 1.22, Abu Dhabi Islamic Bank (ADIB) rose 2.0%, National Bank of Abu Dhabi (NBAD) 1.9%, Aldar Properties (ALDAR) 1.7%, and the other gainers were up less than 2% or on low volumes. Emirates Telecom (ETISALAT) was up 0.43% to 11.55. In the losers' list, Fujairah National Bank (NBF) and Finance House (FH) closed 10% limit down from low volumes, and Aabar Energy (AABAR), Methaq Islamic Insurance (METHAQ), and Sorouh were the only losers trading more than AED 1m worth - all three fell less than 0.50%. | |