- Emirates Telecom +3.5%
- Sharjah Islamic Bank +2.7%
- Ooredoo -10%
- RakBank -3%
Emirates Telecom was the biggest gainer on Thursday, with the stock advancing by around 3.5%. there’s no news out from the company today, although the share price found itself under pressure last week after the stock traded ex-div. Today’s gains have reversed that decline.
Sharjah Islamic Bank advanced 2.7% with markedly higher levels of trade having been seen on Wednesday. Again there’s no news here but today’s uptick appears to have been the best one day of gains posted since the start of the year.
Ooredoo was the biggest faller, off by almost 10%. Despite its $9bn market cap, this is a thinly traded stock which saw notably increased volumes being transacted today. No additional news is available.
RakBank was also down on the day, again a stock which usually sees light trading but today reported a meaningful uptick in volumes. There’s no additional news but the stock finished almost 3% lower.
Notes for Thursday:
Fertiglobe is scheduled to trade ex-dividend with a 24 Fils per share payout. That equates to a yield of around 8% and could explain any adverse price reaction.
