UAE market news & discussions for 15 December 2009UAE markets did not continue the strong gains shown yesterday, although Emaar managed to stay in the green and Emirates NBD helped keep the Dubai index from reflecting the bigger falls in most other stocks. The ADX fell 0.96% to 2794 points from turnover of AED 368m with most stocks in the red but a green day for NBAD and Aldar balanced out the big fall in Etisalat, and the DFM was down 1.5% to 1843 points from turnover of AED 1.27 billion. On the Nasdaq Dubai at 1500 UAE time, DP World is down 1.6% and Depa is up 2.2%. UAE financial news - latest news from Reuters, Bloomberg and UAE mediaDubai Financial MarketEmaar Properties (EMAAR) was the most active stock in Dubai with AED 420m and rose 3.05% to 3.72. Dubai Financial Market (DFM), down 3.1%, and Arabtec (ARTC), up 1.3%, also saw more than AED 100m worth of deals. Emirates NBD (ENBD) was the top gainer, closing 5% limit up at 3.45. National General Cooling (TABREED) was the only other gainer, up 2.5% to 0.82. Four stocks closed 10% limit down - Al Salam Bank Sudan (ALSALAMSUDAN), Al Salam Bank (SALAM_BAH), Arab International Logistics (ARMX), and Ajman Islamic Bank (AJMANBANK). Most other stocks fell between 4% and 9%. Abu Dhabi Securities ExchangeAldar Properties (ALDAR) was the most active stock in Abu Dhabi and the only one trading more than AED 100m worth, up a solid 6.5% to 5.09 from AED 137m of deals, and was also the top gainer of the more active stocks. Invest Bank (INVESTB) was 10% limit up from just one trade, Abu Dhabi Commercial Bank (ADCB) rose 6.5%, National Bank of Abu Dhabi (NBAD) was up 4.6%, Sorouh Real Estate (SOROUH) 2.5%, Union National Bank (UNB) 1.9%, and a handful of other gainers rose less than 1% or on low volumes. Abu Dhabi Islamic Bank (ADIB) was the worst loser with closing price 10% limit down at 2.81, Methaq Islamic Insurance (METHAQ) fell 6.4%, Ras Al Khaimah White Cement (RAKWCT) 6.1%, Agthia Group (AGTHIA) 5.6%, Emirates Telecom (ETISALAT) 4.7%, National Bank of Umm Al Quwain (NBQ) 3.6% on a single large trade of 9m shares, and the remaining losers were down less than 3% or on low volumes. | |