UAE market news & discussions for 14 January 2010Markets fell slightly at the end of a glum week although Dubai Investments managed to close flat after announcing preliminary 2009 financial results yesterday. On the Nasdaq Dubai at 1430 UAE time, DP World is down 1.8% to $0.49, Depa is unchanged, and Damas is up 6.3% to $0.235. UAE financial news - latest news from Reuters, Bloomberg and UAE mediaDubai Financial MarketThe Dubai Financial Market (DFM) fell 0.29% to 1707 points from turnover of AED 375m with Arabtec (ARTC) the top traded stock, falling 0.82% to 2.41 from AED 116m of trading. Emaar Properties (EMAAR) was the only other stock trading more than AED 100m, down 0.85% to 3.52 from AED 108m worth. Dubai Insurance (DIN) was the worst loser, 5% limit down from just one trade, Union Properties (UPP) was the worst of the more active losers, down 2.9% to 0.66, Deyaar Development (DEYAAR) fell 1.8%, Emirates NBD (ENBD) 1.4%, Drake & Scull (DSI) 1.2%, and Dar Takaful Insurance (DARTAKAFUL) was down 0.66%. Several stocks closed unchanged including Dubai Financial Market (DFM), Air Arabia (AIRARABIA), and Dubai Investment Company (DIC). Gulf Finance House (GFH) was the top gainer, up 13.3% to 1.19 on greater than usual volumes, Al Madina Finance (ALMADINA) rose 3.1%, Arab International Logistics (ARMX) 1.9%, and the other gainers were up less than 2% or on thin trading. Abu Dhabi Securities ExchangeThe ADX fell 0.24% to 2707 points from turnover of AED 234m with Commercial Bank International (CBI) dominating trading for a second time this week, 10% limit up to 1.44 from almost AED 100m making it the most active stock and the top gainer. Abu Dhabi Commercial Bank (ADCB) was up 1.4%, Aldar Properties (ALDAR) rose 0.65%, Emirates Telecom (ETISALAT) was up just 0.45%, and the other gainers rose on thin trading. Union National Bank (UNB) was the worst loser on turnover of more than AED 1m (just), down by 4.3% to 2.81. First Gulf Bank (FGB) fell 3.0%, National Bank of Abu Dhabi (NBAD) 2.1%, and the remaining losers fell less than 1% or on thin trading. | |