UAE Financial Market News
15 July 2010. Dubai stocks rose on increased turnover, led by Arabtec, but Abu Dhabi stocks remained in a slump. On the Nasdaq Dubai, DP World fell 1.8%, and Depa fell 4.05%.
Dubai Financial Market
Dubai stocks rose 1.0% to 1520 points from AED 164m worth of trading with Arabtec (ARTC) the most active stock and also the best gainer, up 6.4% to 1.84 from AED 64m worth. Only 2 other stocks traded more than AED 10m worth - Emaar Properties (EMAAR) up 0.61%, and Dubai Financial Market (DFM) up 2.0%.
Other gainers of note included Emirates Integrated Telecommunications (DU) up 3.1%, and Emirates NBD (ENBD) up 2.0%, while the remainder rose less than 2% except for Ektitab Holding (EKTTITAB) up 2.2% on low turnover. There were 9 losers including 10% limit down for International Financial Advisers (IFA) and 5% limit down for Al Firdous Holdings (ALFIRDOUS), but none traded more than AED 1m worth.
Abu Dhabi Securities Exchange
Abu Dhabi stocks fell 0.11% to 2524 points from AED 54m worth with Emirates Telecom (ETISALAT) the most actively traded stock, down 0.48% to 10.35 from AED 12.6m worth. Aldar Properties (ALDAR) saw similar trading volumes with a fall of 0.74% to 2.68 making it the worst of the more active losers, and Dana Gas (DANA) was the only other stock trading more than AED 10m worth, up 1.4% to 0.70.
Only 3 losers traded more than AED 1m worth - Aldar, Etisalat, and Sorouh Real Estate (SOROUH) down 0.56% to 1.77. National Bank of Abu Dhabi (NBAD), Aabar Energy (AABAR), and First Gulf Bank (FGB) were unchanged, and only 3 stocks rose on greater than AED 1m worth of trading - Waha Capital (OILC) up 1.8%, Dana, and Union National Bank (UNB) up 0.33%.
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