- Spinneys Holdings +5%
- Abu Dhabi National Hotels +3%
- Fertiglobe -2.8%
- Ooredoo -8%
- RakBank -4%
Abu Dhabi National Hotels was a notable gainer, adding close on 3%. Volumes were unremarkable and the stock has had a challenging start to the year, sliding by almost 30%. Are investors now seeing value at this discounted level?
A quick mention for Spinneys Holdings which made its market debut today after last week’s hugely oversubscribed IPO. The stock closed just under 5% higher, with intraday gains sitting around the 11% mark.
And a mention for Fertiglobe, which went ex-dividend today. Despite yielding 8%, the share price dipped by a mere 2.8% underlining investor confidence in the company.
Ooredoo had another difficult day with the stock extending Wednesday’s losses and falling a further 8%. Trade is however thin with volumes down by around 80% from yesterday’s elevated levels and there’s no apparent news in play to justify the move.
RAKBANK also extended Wednesday’s sell off, falling another 4% although the stock settled around the 5Dhs level which has provided support on a couple of occasions over the last few months. Again no news behind the move and whilst volumes were down compared to yesterday, they still showed as being meaningfully elevated.
