UAE market news & discussions for 23 November 2009The ADX rose 1.5% to 2908 points from limited turnover of AED 170m with NMDC in the spotlight, closing 10% limit up after announcing the award of the Musaffah Canal dredging contract. The DFM rose 1.8% to 2112 points from moderate turnover of AED 345m, with many stocks up between 2% and 5%, including Union Properties and DFM shares up by more than 4%. On the Nasdaq Dubai at 1400 UAE time, DP World is up 3.0%, and Depa is unchanged. No other listings have traded. UAE financial news - latest news from Reuters, Bloomberg and UAE mediaDubai Financial MarketEmaar Properties (EMAAR) was the only stock trading more than AED 100m worth as it rose 2.7% to 4.25 from AED 168m of traded value. Dar Takaful Insurance (DARTAKAFUL) (+6.1%) and Emarat Takaful Insurance (TAKAFUL-EM) (+5.8%) were the top gainers but from limited activity. Union Properties (UPP) was the best of the more actively traded stocks, up by 4.4% to 0.94. Dubai Financial Market (DFM) rose 4.25%, Arabtec (ARTC) was up 3.65%, and most of the remaining gainers were up between 1% and 4%. There were 3 losers with only Shuaa Capital (SHUAA), down 3.2% to 1.79, trading more than AED 1m worth. Abu Dhabi Securities ExchangeAldar Properties (ALDAR) was the most active stock in Abu Dhabi, rising 2.8% to 5.50 from AED 63m worth of deals. National Marine Dredging (NMDC) was the standout gainer, closing 10% limit up at 8.03 on greater than usual volumes. Methaq Islamic Insurance (METHAQ) also had respectable gains, with a 6.5% rise to 4.45. Arkan Building Materials (ARKAN) was up 4.2%, First Gulf Bank (FGB) 3.6%, Sorouh Real Estate (SOROUH) 3.3%, and most other stocks were up less than 3% or unchanged. There were only 4 losers, with Ras Al Khaimah Ceramics (RAKCEC) the most active, falling 2.4% from less than AED 1m. | |