Wednesday’s gains for tech stocks in the US appear to have been providing some support to peers listed in the UAE, but the mood remains mixed. Dubai’s equity benchmark index finished up around 0.5% but the Abu Dhabi equivalent closed down fractionally after a late burst of selling pressure.
- Space42 +7.6%
- Presight AI +6.6%
- Agility Public Warehousing -2.6%
Space42 was the biggest gainer, with the company having made a couple of key partnership announcements in recent days, expanding the company’s reach into satellite communications for a number of user groups. Shares were up 7.6% with higher than average trade volumes having been reported. The bump also reverses some of the stock’s recent losses.
Presight AI was also in favour, up 6.6%. At the start of the week, the company announced a deployment with a ADNOC and whilst trade volumes accelerated, the shadow of heavy selling for tech stocks globally seems to have dominated. Again, today’s uptick helps reverse some of the recent losses.
Agility Public Warehousing was down 2.6%, making it the biggest faller of the large caps on Thursday. There’s no news that seems likely to drive market impact here – nominations for new board of directors members are open, but trading has been very limited.
