By: Mahmoud Gamal
Dubai – Mubasher: du’s stock fell 1.8% to KWD 6.03, its lowest level in seven months.
Trading on the stock reached 1.18 million shares by 11:30am UAE time, with a turnover of AED 7.13 million.
The company’s stock is seeing some selling pressures before the announcement of third-quarter financials which are expected to be negative, according to market analyst Hassan Al-Zawi.
The board will meet on 31 October to discuss the financial statements for the first nine months of 2016
Emaar reached AED 6, reflecting pressures by some portfolio investors to re-purchase the stock with an attractive price before the announcement of its third-quarter financials, the analyst noted.
du targets to reach AED 6.6 as it fell to AED 5.8 on the back of a correction movement, Al-Zawi said.
Translated by: Julian Nabil
