Only very modest losses were seen on both the Dubai and Abu Dhabi equity indices on Wednesday with arguably some inevitable inertia in play ahead of the Federal Reserve’s interest rate news which is due imminently.
- Agility Public Warehousing +2.7%
- Apex Investment +1.9%
- Ooredoo -8.3%
Agility Public Warehousing was the biggest gainer amongst the large caps, adding 2.7%. Whilst there is a disclosure out from the company today, this movement seems to be more about the stock finding support around the 3Dhs level.
Apex Investment is back on our agenda but the uptick today is a far more modest 1.9%. That’s not to detract from the phenomenal run this share has seen since the middle of August and volumes today were certainly elevated, but are we seeing some signs of profit taking emerging?
Ooredoo has been away from this column for a while but today it find itself as the biggest large cap faller, off 8.3%. However, transactions today do seem to have been rather thin on the ground and the reversion comes off the back of strong gains from the last six weeks or so.
