UAE market news & discussions for 25 November 2009The ADX rose 0.56% to 2910 points from a low AED 124m worth of trading. The DFM rose 1.1% to 2093 points from turnover of AED 278m. On the Nasdaq Dubai at 1430 UAE time, DP World is up 6.7%, Depa is unchanged, and there has been a trade in DFM derivatives, up 2.7%. The UAE markets are closed tomorrow, and open next week on Monday and Tuesday only. Sharewadi is on holiday for the week so if the jungle wireless connection is a bit sketchy, the daily market report might not be sent for those days. Normal service should resume on Sunday 06 December 2009. Eid Mubarak everyone and have a great holiday whatever you do and wherever you go! UAE financial news - latest news from Reuters, Bloomberg and UAE mediaDubai Financial MarketEmaar Properties (EMAAR) was the most active stock in Dubai, but didn't crack AED 100m, rising 0.73% to 4.16 from AED 93m worth of deals. A couple of the Kuwait secondary listings stood out on trading volumes, Ektitab Holding (EKTTITAB) in third spot with AED 24m worth of deals, and its 7.0% rise to 0.76 also putting it in third spot on the gainers list. Al Madina Finance (ALMADINA) was the best of the more active stocks, rising 7.45% to 1.01 from a relatively high AED 15m worth of turnover. Global Investment House (GLOBAL) was the top gainer at 15% limit up but from just a handful of small trades. Gulf Finance House (GFH) rose 5.3%, Deyaar Development (DEYAAR) 4.35%, Emirates Integrated Telecommunications (DU) 4.2%, Dar Takaful Insurance (DARTAKAFUL) 4.0%, Drake & Scull (DSI) 3.1%, and the remaining gainers were up less than 3%. There were only two losers, Dubai National Insurance & Reinsurance (DNIR) down 0.87% from just one trade, and Emirates NBD (ENBD) down 0.43% to 4.60. Abu Dhabi Securities ExchangeSorouh Real Estate (SOROUH) took top spot on the traded value list for a change, with just AED 35m worth of volume, rising 1.6%. Aldar Properties (ALDAR) was up 1.5% from just AED 17m worth. Union Cement (UCC) and National Corporation for Tourism & Hotels (NCTH) were the top gainers, closing 10% limit up but from just 1 trade for Union Cement. Ras Al Khaimah Ceramics (RAKCEC) was up 5.9%, National Marine Dredging (NMDC) 2.9%, Abu Dhabi Islamic Bank (ADIB) 2.5%, Aabar Energy (AABAR) and Qatar Telecom (QTEL) 2.2%, and the remaining gainers rose less than 2%. Oman and Emirates Investment Holding (OEIHC) was the worst loser with a 10% limit down close but from thin trading. Bank of Sharjah (BOS) was the only losing stock trading more than AED 1m worth, down 4.9% to 2.00, and also the second worst loser. Finance House (FH) fell 3.6%, Methaq Islamic Insurance (METHAQ) 2.5%, and the other 4 losers were down less than 2%. | |