Donald Trump’s tariff campaign may be resulting in sizable losses for many global equity markets but the situation in the UAE is rather more relaxed, with the Dubai benchmark closing fractionally higher, whilst the Abu Dhabi equivalent finished down by just 0.1%.
- Abu Dhabi National Insurance Company +4.3%
- Burjeel Holdings +3%
- Apex Investment -9.9%
Abu Dhabi National Insurance Company posted some meaningful gains on Monday, adding 4.3%. The annual report for 2023 was published ahead of the weekend break but perhaps more significant was the notification that tomorrow’s board meeting would see dividend policy being discussed.
Healthcare group Burjeel Holdings was up 3% at the close. 2024 was marked by a period of steady declines for the share price, so today’s gains offer some respite but even so the price is just 5% off the all time lows set at the end of last year.
Apex Investment was down 9.9%. Earnings news last week impressed but coincided with shares testing two and a half year highs. Selling pressure has been notable today, but there’s no fundamental news here beyond the idea that some are booking profits. Volumes were elevated but far from abnormal.
