It was a mixed session for UAE equity indices with the Dubai benchmark shedding around 0.6% whilst the Abu Dhabi equivalent made only fractional gains. Market sentiment was seemingly unmoved by the collapse of Trump’s tariff plans.
- NMDC +3%
- Space42 +2.3%
- Alef Education -2.5%
NMDC was the biggest riser of the large caps, up 3% with the stock pushing out to fresh highs for the year. Volumes were normal and there’s no news in play.
Space 42 added 2.3% on the day. There has been an acceleration in trading volumes in recent days on the stock and although there’s no news here, the company would almost certainly stand to benefit under seamless trade with the US.
Alef Education was the biggest faller of the large caps, down 2.5% on the day. Meaningful gains were posted last week following a busy day of trade and the stock has had a volatile few sessions now but there has been no formal news since earnings at the end of April saw the share price fall by more than 10%.
