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Emaar bucks Dubai market drop

: Wednesday, June 11 - 2014 @ 18:26

The Dubai Financial Market General Index (DFMG) fell by 0.60 per cent to 4,665.24 points, on Wednesday, June 11, marking the gauge’s fourth fall in a row.

Emaar bucked the trend by gaining 0.11 per cent to finish at AED9.50. Arabtec Holding dived 7.80 per cent at AED4.50. Earlier in the day, Hasan Ismaik, the chief executive of Arabtec said in order to downplay the stock’s weak performance, in particular in recent days, CEO Ismaik said in an official statement responding to “rumors” to the local Dubai bourse, the share price was influenced by the forces of supply and demand. He added that “Arabtec enjoys high financial capability and strong international credibility and is making major geographical expansion.”

Gérard Al-Fil

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Wednesday, June 11- 2014 @ 18:26 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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