Markets in Abi Dhabi and Dubai posted broad based gains on Tuesday with the FADGI adding around 1.2%, whilst gains for the DFMGI were a rather more moderate 0.8%. The fact oil prices have stopped their surge higher could be providing some confidence here regarding the geopolitical situation.
- Apex Investment +6.9%
- Al Dar Properties +6.2%
- Ghitha -3.3%
Apex Investment was the day’s biggest riser, up 6.9%. However that simply reverses the losses posted on Monday and there’s no fresh news out here. The share price continues to hold onto most of the impressive gains posted last month.
Al Dar Properties was 6.2% higher on the day. Trading in the stock was relatively brisk but again the move here simply reverses losses accumulated over the last week. There’s no company news evident here, although the Bayut report published today has revealed more strong growth for property prices in the region. Notably Emaar Properties also had a good day, up 3.7%.
Ghitha was the biggest faller of the large caps, down 3.3%. That’s pushed the stock down to its lowest level in more than two and a half years around 25.3Dhs. There’s no specific news in evidence here although average deal sizes do seem to have been slightly smaller than usual.
