UAE equities finished the week on a relatively muted note, but positive sentiment remains in play. Both the Abu Dhabi and Dubai benchmark equity indices finished the day in positive territory, with the DFMGI accruing gains of more than 1.6% on the week.
- Apex Investment +5.4%
- Agility +2.2%
- Multiply Group -2.5%
Apex Investment was the best performer of the large caps, up 5.4%. In a notably brisk day of trading, volumes were significantly higher than had been seen of late, but there’s no apparent news behind the uptick in interest.
Agility, the Public Warehousing Company was in second place, up 2.2% as the company continues to plot a course away from the lows seen at the start of the week. Trading in the stock does however remain very limited.
Multiply Group was the biggest faller of the large caps, off 2.5% by the close. Again there’s no apparent news but the reversal does come off the back of some meaningful gains of late for the stock, which had appreciated close on 20% over the last week and a half, suggesting that this may just be some opportunistic profit taking in play.
