UAE market news & discussions for 03 August 2010UAE stocks showed a bit of promise today, rising on somewhat higher trading levels, with some Abu Dhabi insurance companies much more active than usual. On the Nasdaq Dubai, DP World is up 2.7%, and Depa is up 1.8%. UAE financial news - latest news from Reuters, Bloomberg and UAE mediaDubai Financial MarketDubai stocks rose 1.2% to 1528 points from trading worth AED 125m with Emaar Properties (EMAAR) the most active stock, up 2.1% to 3.35 from AED 61m. Gulf Finance House (GFH) was the top gainer, up 3.6% to 0.55, Dubai Financial Market (DFM) rose 2.8%, Arabtec (ARTC) 2.3%, and the other gainers were up less than 2% or on thin trading. There were only 2 losers trading more than AED 1m worth - Arab International Logistics (ARMX) down 0.58%, and Emirates Integrated Telecommunications (DU) down 0.49%. Abu Dhabi Securities ExchangeThe Abu Dhabi stock index closed unchanged at 2537 points from turnover of AED 137m with the rarely traded Abu Dhabi National Insurance (ADNIC) the most active stock, up 2.7% to 6.24 from AED 29m. Two more rarely traded insurance companies were busier than usual, Al Dhafra Insurance (DHAFRA) up 4.65% to 4.50, and Al Ain Ahlia Insurance (AAAIC) up 4.0% to 52.00, heading the list of gainers. Waha Capital (OILC) rose 3.0%, and National Bank of Abu Dhabi (NBAD) bonds were up 0.36%, with the remaining gainers trading less than AED 1m worth each. Dana Gas (DANA) was the only one of the 9 losers falling more than 1% on turnover of more than AED 1m, down 1.25% to 0.80. Emirates Telecom (ETISALAT) and Aldar Properties (ALDAR) closed unchanged, and National Bank of Abu Dhabi (NBAD) fell 0.44%. | |