After the buoyant start to the week, UAE equity markets have paused for breath on Wednesday with both the Dubai and Abu Dhabi benchmark indices easing around 0.3% on the day.
- Mair +5.5%
- Agility Global +4.2%
- Empower -3%
Mair Group was the biggest riser, up 5.5% and adding to the gains from earlier in the week. The shares are trading around 13% up from the all time low posted last Friday. There’s no news here but volumes remain notably elevated on the stock and with a dividend expected soon, the depressed share price is arguably presenting an attractive yield play.
Agility Global also extended its run higher, up 4.2% on the day. Minutes of last month’s AGM were released today but there’s also likely support for the recent acquisition of the US air services company G2. Volumes were also significantly elevated on the day.
Empower was 3% lower on the day. Whilst there’s no apparent news here, the company did see a significant increase in volumes traded on the day, reversing the gains seen since last Friday.
