CDL is best-performing STI stock in June

Singapore

PROPERTY developer City Developments (CDL) is the best-performing Straits Times Index (STI) stock month-to-date, and analysts say it is because of its reinstatement to the FTSE EPRA/NAREIT Global Developed Index.

CDL is up 6.3 per cent so far in June. Year-to-date, it is up 14.4 per cent. That said, when it was officially added back to the index on Monday, it fell 1.6 per cent to S$8.71.