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Arabtec plummets as bulls lose the intra-day fight once more

: Tuesday, June 10 - 2014 @ 17:36

After opening with modest gains, the Dubai Financial Market General Index (DFMG) dived 1.63 per cent to 4,693.20 points on Tuesday, June 10, representing a three-week low. Construction giant Arabtec Holding dived 9.96 per cent (a near limit down) to AED4.88. Arab Insurance Group and Oman Insurance Group, on the other hand, gained 15 per cent (limit) each. The two insurance firms have benefitted from the Dubai government’s move to impose compulsory health insurance. Dubai residents have time until 2016 to apply for compulsory health insurance, leading to economies of scale for licensed insurers in the emirate. The shares of Emaar slipped by 0.94 per cent to AED9.49. Approximately 623 million shares were traded, valued at AED2.1 million.

Gérard Al-Fil

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Tuesday, June 10- 2014 @ 17:36 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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