The new trading week got underway with the Abu Dhabi benchmark index coming out broadly flat whilst Dubai’s DFMGI added almost 0.3%. Sentiment appears largely unmoved by the decline in oil prices after testing levels not seen since late April on Friday.
- Agthia Group +7.1%
- Presight AI +5.3%
- National Bank of Umm Al Qaiwain -9.5%
Agthia Group topped the board, adding 7.1% on Monday. Traded volumes were notably higher than had been seen late last week, with yesterday seeing the company confirm it had launched its new processing factory in Saudi Arabia. This increases its commitment to the country and also taps into the fast growth being seen for processed meats.
Presight AI was up 5.3% on the day. There was some media coverage at the end of last week looking at the company’s newly launched AI suite which pits it against the likes of IBM and Google. News of a strategic partnership with Wand AI a week ago saw a similar reaction in terms of share price and provided a healthy boost to volumes, too.
And it was the National Bank of Umm Al Qaiwain that was the day’s biggest faller although as we have pointed out before the stock typically sees very limited levels of trade being reported on the exchange. As a result, the risk of market imbalance and outsized share price reactions is real. The stock was down 9.5% on the day.
