Solid gains for the Dubai index today which advanced by almost 1% but Abu Dhabi’s equivalent was somewhat more relaxed, finishing little changed. A push higher mid-session failed to prove sustainable.
- Agility Public Warehousing +8.6%
- Parkin +7%
- National Central Cooling -7.7%
Agility Public Warehousing was the biggest riser on the day, adding 8.6%. Whilst the quantum of the move is notable, volumes were thin as is typical for the stock and the move reverses losses seen last week – but does return the price close to recent highs.
Car park operator Parkin was up 7% on the day. Again, there’s no fundamental news out to support the move however and whilst volumes were elevated, the uptick has been relatively modest. This does however extend the upside seen on Friday with the stock heading back towards the highs posted in late October.
Shares in National Central Cooling fell sharply on Monday, down 7.7% in a very brisk day of trading. There’s no sign of any apparent news behind the move but the uptick in volume has been notable with more shares recorded as changing hands today than has been seen in the last six weeks combined. Having traded as high as Dhs3.27 at the start of the month, some selling was seen ahead of Q3 numbers published 10 days ago, but this latest leg lower has pushed the stock down to two year lows.
