UAE market news & discussions for 12 January 2010Both markets fell, with almost all the actively traded stocks in Dubai in the red, led down by Arabtec and Emaar. The rarely traded Commercial Bank International in Abu Dhabi topped the traded value list with a handful of high value trades in the green. On the Nasdaq Dubai at 1445 UAE time, DP World is up 0.39% to $0.51, and Depa is unchanged at $0.52. UAE financial news - latest news from Reuters, Bloomberg and UAE mediaDubai Financial MarketThe Dubai Financial Market (DFM) fell 2.4% to 1759 points from turnover of AED 363m with Emaar Properties (EMAAR) the most active, down 4.35% to 3.74 from 146m worth. Arabtec (ARTC) was not far behind on volume and the only other stock trading more than AED 100m, with a fall of 5.0% to 2.47 from AED 138m worth. Dubai Islamic Insurance (AMAN) was the worst loser, down 5.05% to 0.94, National General Cooling (TABREED) fell 3.6%, Dubai Investment Company (DIC) was down 3.0%, Union Properties (UPP) 2.8%, Emirates Integrated Telecommunications (DU) 2.65%, Dubai Islamic Bank (DIB) 2.6%, and most other stocks fell between 1% and 2.5%. There were only 3 gainers, Global Investment House (GLOBAL), Al Salam Bank Sudan (ALSALAMSUDAN), and National Cement Company (NCC), each with only one small trade going through. Abu Dhabi Securities ExchangeThe ADX fell 0.61% to 2758 points from AED 256m of turnover with Commercial Bank International (CBI) in top spot by traded value, up 3.6% to 1.45 from AED 112m worth although that was from just 4 trades. Abu Dhabi National Energy (TAQA) was the best of the more active gainers, up 5.0% to 1.27, although Union Cement (UCC) rose 8.8% from a couple of small trades. Ras Al Khaimah Cement (RAKCC) was up 4.8%, Agthia Group (AGTHIA) rose 3.3%, and another four gainers were up less than 2% and on low volumes. Several stocks closed unchanged, including Dana Gas (DANA) and Waha Capital (OILC). The worst loser was Abu Dhabi National Insurance (ADNIC), 10% limit down but from just a couple of trades, Methaq Islamic Insurance (METHAQ) fell 3.5% and was the worst of the more active stocks, Aldar Properties (ALDAR) fell 3.2%, Arkan Building Materials (ARKAN) 2.4%, and the other losers were down less than 2% or on thin trading. | |