This provides greater price stability and ensures adequate trading volumes at any given price level
Stocks
Latest in Stocks
Lucid electric vehicle
Saudi-backed EV maker Lucid expects to raise $1.67bn from stock offering
The company expects to report a loss from operations in the range of $765mn to $790mn for the quarter ended September 30
Apple
Nvidia set to dethrone Apple as most valuable company as its shares close all time high
The latest gains lifted Nvidia’s market value to $3.39 trillion, just below Apple’s $3.52 trillion value and above Microsoft’s $3.12 trillion
China
Chinese markets reopen with a 10% jump after break; hits 2-year high
The markets, however, gave up a chunk of the gains following announcements on new revival plans
Artificial intelligence
Microsoft announces share buyback plan of up to $60 billion
Under pressure from investors to show results of its huge investments into AI, it also increases the quarterly dividend by 10 percent
Bombay Stock Exchange
Indian stock market indices hit record high
Traders both the Indian benchmarks were trading at all-time highs, supported by expectations of a US rate cut in September and healthy domestic inflows
ADNOC Drilling
ADNOC Drilling to be included in MSCI’s flagship indexes
Inclusion will take place on August 30, following the recent sale of 880 million shares which raised the free float to 16.5%
Amazon
Global billionaires lose $134 billion in market sell-off, led by Amazon’s Jeff Bezos
Other notable losses included Oracle’s Larry Ellison ($5 billion), Alphabet co-founders Sergey Brin and Larry Page (over $3 billion each), Meta’s Mark Zuckerberg ($3 billion), and Tesla’s Elon Musk ($6.57 billion)
Market Volatility
Tech stocks crash: $1 trillion rout hits Nasdaq 100 over AI jitters
The Nasdaq indexes tumbled more than 3% on Wednesday, with the list of laggards being a who’s-who of AI technology darlings, led by semiconductor companies such as Nvidia, Broadcom and Arm Holdings
Investing
AI stocks surge as UAE retail investors shift away from Big Tech, Pharma
These trends underscore a broader shift in investor sentiment, prioritising future-oriented, high-growth sectors over established but currently less dynamic industries
financial advice
Gen Z investing: More than half of TikTok stock market predictions were accurate in 2024, study finds
Many of the profitable predictions focused on tech giants with relatively stable stock prices, such as Google, NVIDIA, and Amazon
Artificial intelligence
AI-driven stock bubble to burst in 2026, report finds
Economists drew parallels to the dot-com bubble of the late 1990s and early 2000s, as well as the Great Crash of 1929
Biotechnology
This stock surged 134% in a day after positive data in Parkinson’s trial
Positive results for buntanetap in late-stage trial; Drug is safe and effective in improving motor and non-motor activities and cognitive function
Apple
Microsoft regains market top spot after Nvidia stock price dives
Nvidia, Microsoft and Apple – each worth more than $3 trillion – are in a three-horse race to be the world’s most valuable company
Abu Dhabi
UAE stocks rally as IHC and Emaar lead liquidity surge
A total of AED1.15 billion was traded on the Abu Dhabi Securities Exchange (ADX), with a further AED476.2 million on the Dubai Financial Market (DFM)
Artificial intelligence
Nvidia overtakes Microsoft as most valuable company in the world
The Jensen Huang-led company becomes only the 12th to achieve that distinction in 98 years of S&P 500 Index
BHM Capital
BHM Capital appointed liquidity provider for Spinneys’ shares on DFM
The latest agreement follows the successful role BHM Capital played providing the price stabilization mechanism for Spinneys’ shares when they were newly listed on DFM last month