It’s been an uneventful session for UAE equity markets with benchmark indices finishing the day broadly unchanged.
- Multiply Group +4.6%
- Apex Investment +4.5%
- Emirates NBD Bank -2.3%
Multiply Group was the biggest gainer on Thursday, adding 4.6% during the session. There’s no formal news here but volumes were notably elevated following yesterday’s test of one month lows for the share price.
Apex Investment also saw gains amongst the large caps, adding 4.5%. The company’s stock had a stellar run through last month and yesterday the board signed off on the latest accounts. This could well have driven the modest bump but again volumes trades were significantly elevated.
Emirates NBD Bank was the notable faller amongst the bigger stocks but losses here were limited to a modest 2.3%. That marks the stock’s fourth successive day of declines and the share price is now back at levels not seen in almost three months. Today’s news of a move set to improve the bank’s cross border payments capabilities has failed to generate any support at least for now.
