The week started with modest gains in Abu Dhabi and modest losses along in Dubai on the respective equity indices. Post close there has been some broad based optimism globally following concerns that Trump tariff talk may have been overplayed, so this could lend support on Tuesday.
- Agility +4.3%
- Americana Restaurants +4.2%
- National Industries Group -10%
Agility Public Warehousing was the day’s biggest gainer, up 4.3% although dealflow was incredibly limited. Exchange data shows less than 1000 shares having changed hands and there’s no evidence of fundamental updates here.
Americana Restaurants, the operator of assorted franchise US brands across the wider region, found itself on the list again, adding a further 4.2% on Monday. The stock fell sharply amidst a consumer backlash against the US following the latest Israel/Palestine conflict so today’s introduction of a ceasefire seems to have delivered something of a recovery bounce. This extends gains over the last 10 days to around 15%.
National Industries Group was the biggest faller, going limit down after losses hit 10%. The stock seems to have extended periods of little or no trade, but a meaningful uptick in activity was seen last week with two way trade observed. Again there’s no fresh news here.