UAE market news & discussions for 08 November 2010UAE stocks fell with another sharp fall for Arabtec, and some of the Kuwait secondary listings in Dubai. On the Nasdaq Dubai, DP World fell 1.5%. UAE financial news - latest news from Reuters, Bloomberg and UAE mediaDubai Financial MarketDubai stocks fell 1.65% to 1693 points from trading worth AED 246m with Arabtec (ARTC) again the most actively traded stock, down 6.9% to 1.90 from AED 59m worth of trading. Worst losers were Ektitab Holding (EKTTITAB) and HITS Telecom, both 10% limit down. Al Madina Finance (ALMADINA) fell 9.6%, Dubai Financial Market (DFM) 6.7%, and the other losers fell less than 3% or on low volumes. Emaar Properties (EMAAR) fell 2.4% to 3.65. There were only two gainers - Dubai Refreshments (DRC) up 0.53% from one small trade, and Emirates Integrated Telecommunications (DU) up 0.33%. Emirates NBD (ENBD) was unchanged at 3.26. Abu Dhabi Securities ExchangeAbu Dhabi stocks fell 0.70% to 2751 points from trading worth AED 191m with, unusually, Methaq Islamic Insurance (METHAQ) the most actively traded stock, up 2.89% to 2.70 from AED 48m, also making it the best gainer apart from one small limit up trade for International Fish Farming (ASMAK). There were only 2 other gainers, Ras Al Khaimah White Cement (RAKWCT) up 1.6% from one small trade, and Ras Al Khaimah Cement (RAKCC) up 1.0%. Aldar Properties (ALDAR) was the worst of the more active losers, down 3.9% to 2.21, Sorouh Real Estate (SOROUH) fell 3.6%, Gulf Cement (GCEM) 3.1%, and the other losers were down less than 3% or on thin trading. Emirates Telecom (ETISALAT) was unchanged, and National Bank of Abu Dhabi (NBAD) fell 1.2%. | |