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UAE Stocks: Salik, Phoenix Group, Mashrequbank

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Wednesday saw gains for both major UAE equity indices but once again the performance in Dubai notably outstripped the Abu Dhabi equivalent.

  • Salik +6.8%
  • Phoenix Group +6.3%
  • Mashreqbank -2.4%

Toll gate operator Salik was the best performer amongst the large cap companies on Wednesday, posting gains of 6.8% on the day. There’s no news out here but volumes were notably elevated.


Phoenix Group is back in focus, adding a further 6.3% after its rocky start to the week. Volumes remain elevated but continue to normalise after the volatility posted earlier in the week.

Mashrequbank was the big faller, off 2.4%. Q3 financials were published last night and despite a 9% jump in pre-tax profits helped by improved income from loans, investors used this as a trigger to book some profits after the stock traded up at all time highs earlier in the week.

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Hargreaves Lansdown IG Interactive Brokers Interactive Investor Charles Stanley
IG Interactive Brokers Charles Stanley

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