UAE Financial Market News
06 June 2010. UAE stocks fell as usual (what else do they do these days?) but trading volumes continued to be thin with the DFM only just trading more than AED 100m worth. On the Nasdaq Dubai at 1400 UAE time, DP World is the only stock traded so far, down 2.7% to US$0.43.
Dubai Financial Market
Dubai stocks fell 1.8% to 1513 points from AED 112m worth of trading with Emaar Properties (EMAAR) the most active stock, but still only trading AED 53m worth as it fell 3.1% to 3.10. Emirates Integrated Telecommunications (DU) was the worst of the more active losers, 5% limit down to 2.00, Arabtec (ARTC) fell 3.5%.
Air Arabia (AIRARABIA) 2.9%, Dubai Financial Market (DFM) 2.5%, and the other losers were down less than 2.5% or on turnover of less than AED 1m. There were 5 gainers, but only Gulf Finance House (GFH) saw more than AED 1m worth of trading, up 1.4% to 0.51. Emirates NBD (ENBD) fell 0.75% to 2.66 on thin trading.
Abu Dhabi Securities Exchange
The Abu Dhabi index fell 1.3% to 2538 points from trading worth AED 64m with Aldar Properties (ALDAR) the most active stock but trading just AED 16m worth as it fell 2.8% to 3.09. Dana Gas (DANA) was the only other stock trading more than AED 10m worth, down 4.3% to 0.68. Aabar Energy (AABAR) was the worst loser on more than AED 1m worth, down 5.3% to 1.63.
Waha Capital (OILC) fell 5.0%, Abu Dhabi Commercial Bank (ADCB) 3.1%, First Gulf Bank (FGB) 3.0%, and the other losers were down less than 3% or on thin trading. There were only 3 gainers - Gulf Pharmaceutical Industries (JULPHAR), Ras Al Khaimah White Cement (RAKWCT), and Ras Al Khaimah Ceramics (RAKCEC) - but none trading more than AED 100k worth. Emirates Telecom (ETISALAT) and National Bank of Abu Dhabi (NBAD) both fell just under 1%.
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