UAE market news & discussions for 29 September 2009The ADX rose 1.2% to 3126 points from turnover of AED 444m, with a solid rise for RAK Properties, also the most actively traded stock in Abu Dhabi. RAK Properties released a disclosure today clarifying some apparently misleading reporting last week about construction delays. The DFM rose 1.0% to 2162 points from AED 840m worth of trading with Drake & Scull and Gulf Navigation rising strongly on solid volumes - DSI announcing a contract in Thailand providing a boost. On the Nasdaq Dubai at 1400 UAE time, DP World is up 1.85%, Depa is unchanged, Damas is down 2.8%, DGS is up 0.3%, and there have been a couple of trades in DFM, Air Arabia, and Union Properties derivatives, with little movement. UAE financial news - latest news from Reuters, Bloomberg and UAE mediaDubai Financial MarketEmaar Properties (EMAAR) was the most active stock as usual, with AED 180m worth of trading and a 1.3% rise to 3.95. Dubai Financial Market (DFM), up 1.7%, and Drake & Scull (DSI), up 3.1%, also traded more than AED 100m. Shuaa Capital (SHUAA) was the best gainer with a 5.15% rise to 2.04. Commercial Bank of Dubai (CBD), National Cement Company (NCC), and Al Firdous Holdings (ALFIRDOUS) all closed 5% limit up but from low volumes. National General Cooling (TABREED) was up 3.1%, Arabtec (ARTC) 2.2%, and most other stocks rose less than 2% or on low volumes. There were only 3 losers, Emirates NBD (ENBD) down 0.23%, Al Salam Bank Sudan (ALSALAMSUDAN) down 2.85%, Gulf Finance House (GFH) 5% limit down, and all 3 fell on low volumes. Abu Dhabi Securities ExchangeAs mentioned, Ras Al Khaimah Properties (RAKPROP) was the busiest stock in Abu Dhabi with AED 140m worth of deals and a 5.1% rise to 0.82. No other stocks traded more than AED 100m. International Fish Farming (ASMAK) was the best gainer on turnover of more than AED 1m, with a 7.5% rise to 23.05. First Gulf Bank (FGB) was up 5.3%, Abu Dhabi National Takaful (TKFL) 5.2% on greater than usual volumes, Invest Bank (INVESTB) rose 5.0%, Aldar Properties (ALDAR) and Waha Capital (OILC) 3.3%, and most other stocks were unchanged or rose less than 3%. There were 7 losers, only 2 of them trading more than AED 1m - Methaq Islamic Insurance (METHAQ) down 0.96%, and Finance House (FH) down just 0.18%. National Bank of Abu Dhabi (NBAD) and Emirates Telecom (ETISALAT) both rose about 0.4%. | |