The general index of the Dubai Financial Market rose, at the end of the trading session on Wednesday, by 0.58%, gaining 15.56 points, to close at the level of 2,631.60 points, and the volume of trading reached 113.7 million shares, achieving a value of 147 million dirhams through the implementation of 2196 transactions for 35 shares, and rose in the Dubai Stock Exchange sector. Investment and financial services by 0.96%, while the goods sector declined by 4.66%, followed by the transport sector by 2.75%, followed by the telecommunications sector by 1.53%, then the services sector by 1.13%, then the real estate sector by 0.40%, then the banking and insurance sectors by 0.37% , 0.22%, respectively.
Eight shares jumped on the Dubai Stock Exchange, at the end of the session on Wednesday, led by Al Salam Bank-Bahrain by 2.99%, then by Takaful House by 2.14%, and 21 shares fell, on top of which was Emirates Refreshments Company by 4.93%, then the share of DXB Intertiments. By 4.87%, while Emaar Properties topped the list of the most traded trades by value, with a volume of 8.8 million papers valued at 34.1 million dirhams.
In a related context, Aramex announced its financial results for the fourth quarter and the fiscal year ending on December 31, 2020, and the company achieved a revenue growth during the fourth quarter of 2020 by 13% to reach 1.598 billion dirhams, compared with 1.418 million dirhams during the fourth quarter of the year. These results are the highest growth in revenues recorded by the company during the fourth quarter, while the last quarter of the year is usually characterized by increased shopping activity among consumers, the growing trend of more of them towards e-commerce to buy goods and gifts due to travel restrictions and other measures imposed by the pandemic Coronavirus, and it contributed to supporting Aramex's revenue growth during the last three months of 2020.
As for the full financial results, Aramex's revenues increased by 9% compared to the fiscal year 2019 to reach 5.510 billion dirhams, which is the highest revenue recorded by the company, due to the impact of the Coronavirus pandemic on the growth of e-commerce activities.
In a related context, Mashreq Bank announced its financial results for the year ending on December 31, 2020, and the bank achieved a 14.1% decrease in revenues on a straight basis to reach 5.1 billion dirhams, referring to the low interest rate, the impact of the Covid-19 pandemic and the slowdown in economic activities as a result Low oil prices, the bank recorded a loss of 1.3 billion dirhams in 2020 compared to a profit of 2.1 billion dirhams in 2019 due to lower operating income and higher risk fees.
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