UAE market news & discussions for 04 January 2010UAE stocks fell on the day of the opening ceremony of the Burj Dubai, with low trading in Abu Dhabi, and Emaar leading the way down in Dubai on much more substantial volumes, and almost all traded stocks in the red. On the Nasdaq Dubai at 1515 UAE time, DP World is down 2.1%, Depa is up 4.6%, and DGS is up 1.0%. UAE financial news - latest news from Reuters, Bloomberg and UAE mediaDubai Financial MarketThe Dubai Financial Market (DFM) fell 2.6% to 1817 points with turnover of AED 976m, with two-thirds of that from Emaar Properties (EMAAR), down 3.4% to 4.02 from AED 669m. Arabtec (ARTC) was the only other stock trading more than AED 100m, down 4.2% to 2.7% from AED 123m. HITS Telecom was the worst loser, 10% limit down but on low volumes. The rarely traded International Financial Advisers (IFA) was the worst loser on turnover of more than AED 1m, down 5.8% from one large trade. Gulf Finance House (GFH) fell 4.7%, Dubai Financial Market (DFM) fell 4.1%, and the other losers fell between 2% and 4%, or on low volumes, except for Gulf Navigation (GULFNAV) which was the least bad loser, down 1.6%. Emarat Takaful Insurance (TAKAFUL-EM) was the only gainer, up 1.7% to 1.19 from low volumes. Abu Dhabi Securities ExchangeThe ADX fell 0.51% to 2759 points from turnover of AED 86m, with Aldar Properties (ALDAR), down 0.2%, and Sorouh Real Estate (SOROUH), up 0.74%, the only two stocks trading more than AED 10m. Abu Dhabi National Insurance (ADNIC) and Invest Bank (INVESTB) were the worst losers, both closing 10% limit down but on low volumes. Waha Capital (OILC) was the worst loser on turnover of more than AED 1m (just), down 2.15% to 0.90. Dana Gas (DANA) fell 1.0%, and the other losers were down less than 1% or on low volumes. Abu Dhabi National Hotels (ADNH) was the best gainer, 10% limit up but from just one trade. Sorouh was the only gainer trading more than AED 1m. Emirates Telecom (ETISALAT) fell 0.89% and National Bank of Abu Dhabi (NBAD) fell 0.40%. | |
