Bloomberg News

Persian Gulf Stocks: Aramex PJSC, Emaar Properties of Dubai

July 12, 2012

Dubai’s DFM General Index (DFMGI) gained for the first time since July 5, climbing 0.7 percent to 1,491.08 at the close in the emirate. The measure declined 0.9 percent this week.

The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.

Aramex PJSC (ARMX) rose as much as 1.7 percent to 1.77 dirhams before trimming gains to 1.75 dirhams. The Middle East’s biggest publicly traded courier company may report a 15 percent increase in second-quarter profit to 65.1 million dirhams ($18 million) in the second quarter, according to an estimate from EFG-Hermes Holding SAE. Aramex may announce its second-quarter results on July 19, according to data compiled by Bloomberg.

Emaar Properties PJSC (EMAAR) climbed 2 percent to 3.10 dirhams, the highest level since May 3. The developer of the world’s tallest tower in Dubai paid a lower profit rate than last year as it raised $500 million from the sale of Islamic bonds.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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