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Temporary suspension of Arabtec no obstacle for Dubai bourse

: Thursday, July 17 - 2014 @ 15:44

The Dubai stock market DFM gained for the seventh (!) session straight on Thursday, July 17, closing 0.91 per cent higher at 4,900 points.

Earlier in the day, the DFM management suspended Arabtec Holding from trading as it said it was seeking clarification from the UAE’s first construction firm on media reports about strategic partners’ stake as per Securities and Commodities Authority’s instructions. There were rumors the Abu Dhabi-based investment fund Aabar could increase its 19 per cent stake in the firm.

Emirates NBD, the biggest UAE lender in relation to assets, finished the week as a top gainer, closing 5.88 per cent higher at AED9.15.

Emaar started to flirt with the level at AED10 as the developer gained 1.33 per cent to hit AED9.95.

Gérard Al-Fil

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Thursday, July 17- 2014 @ 15:44 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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