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UAE Stocks: Aramex, Ghitha, Mashreqbank

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The logistics and courier firm Aramex had a good end to the week with shares adding almost 8% in a busy day of trade. The stock is now back at levels not seen in nine months. The company announced earlier in the week that it had engaged with Arqaam Securities to act as a market maker in a move to boost liquidity and deliver improved shareholder value. Whether that can be attributed to today’s notably elevated volumes remains to be seen.


Trading and distribution play Ghitha also fared well on Friday, adding close on 5% during the week’s final session. Again there’s no news out here and traded volumes on the stock have been remarkably consistent of late. Today’s gains have however seen the share price move back to levels last visited almost two months ago.

Mashreqbank saw limited volumes being traded on Friday but ended up as one of the worst performing large cap companies, off 2.8% at the close. After gaining some ground in line with global banks earlier in the week, something that resulted in a sharp increase in trade on Wednesday, the sector has struggled to find further cause for cheer.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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