A reversal of fortunes from yesterday with gains for the Dubai benchmark equity index of just under 0.4% being countered by very modest losses on the Abu Dhabi equivalent.
- Agility +4.4%
- DFM +3.3%
- Abu Dhabi Ports -2%
Dubai-listed Agility Public Warehousing saw solid gains on Thursday, adding 4.4% as the stock pushed out to two week highs. Volumes were however far from elevated but news from last week highlighted a growing future demand for warehousing space in the region.
Exchange operator Dubai Financial Markets saw its stock up 3.3% on the day. Volumes were again significantly elevated from the levels we have observed over the year end, but there’s no fundamental news visible to support the gains.
Abu Dhabi Ports slipped 2% on the day, standing out as one of the worst performers amongst the large caps. Today’s reversal comes off the back of a decent run of gains for the business since mid-December, following a series of well received corporate updates.
