UAE market news & discussions for 17 January 2010UAE markets started the week in the red but on low volumes. On the Nasdaq Dubai at 1430 UAE time, DP World is up 0.60% to $0.503, and Depa is down 2.0% to $0.50. UAE financial news - latest news from Reuters, Bloomberg and UAE mediaDubai Financial MarketThe Dubai Financial Market (DFM) fell 2.0% to 1674 points from turnover of 253m with Emaar Properties (EMAAR) the most active stock, and the only one trading more than AED 100m, down 3.7% to 3.39 from AED 107m. Global Investment House (GLOBAL) was the worst loser, down 8.3% to 1.32 but from just one small trade, Dubai Financial Market (DFM) was the worst of the more active stocks, down 4.7% to 1.61, Ajman Islamic Bank (AJMANBANK) fell 3.4%, Arabtec (ARTC) was down 3.3%, Dubai Investment Company (DIC) dropped by 3.1%, and most other stocks were down less than 3%. There were only 3 gainers, Gulf Finance House (GFH) up 3.4%, Al Madina Finance (ALMADINA) up 1.0%, both on greater than usual trading, and Al Salam Bank Sudan (ALSALAMSUDAN) up 0.82% on thin volumes. Several stocks closed unchanged, including Drake & Scull (DSI), Deyaar Development (DEYAAR), and Gulf Navigation (GULFNAV). Abu Dhabi Securities ExchangeThe ADX fell 1.2% to 2674 points from turnover of AED 105m. Aldar Properties (ALDAR) was the most active stock but still only traded AED 42m worth as it fell 2.2% to 4.56. Abu Dhabi Commercial Bank (ADCB) was the worst loser, down 4.7% to 1.44, Union National Bank (UNB) fell 4.3%, Abu Dhabi National Energy (TAQA) dropped by 3.2%, and most other stocks were down by less than 3%. There were only 4 gainers, none trading more than AED 1m, with Umm Al Quwain Cement (QCEM) the best of them, up by 1.6% to 0.64. Emirates Telecom (ETISALAT) was down 0.90%, and National Bank of Abu Dhabi (NBAD) was down 2.1%. | |