Aramex was among the only stocks to end the day higher as a bout of profit taking on heavyweight property and banking stocks sent most other shares to new lows.
The Middle East's biggest courier company rose 1.6 per cent to Dh1.91 as traders diversified investment away from shares in companies including Emaar Properties. The developer of the world's largest tower, the Burj Khalifa, said net profit dropped 45 per cent in the first quarter as it handed over fewer new homes than a year earlier.
In the first day of trade since announcing the results, which missed analysts' expectations, its shares fell 2.9 per cent to Dh3.34.
No comments:
Post a Comment