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Arabtec rumours lift share 4%; UAE markets lose AED 500 mln

Arabtec rumours lift share 4%; UAE markets lose AED 500 mln
Arabtec Holding
ARTC
-3.29% 0.53 -0.02
Emaar
EMAAR
0.96% 8.38 0.08
Arabtec Holding’s share rose by 3.84% on Sunday amid intensive trading on the share following rumours on a possible deal between Arabtec’s former CEO Hassan Ismaik and Aabar Investments and a settlement of Ismaik’s stake in the Company, reported the Arabic newspaper Al Khaleej.

An atmosphere of anticipation loomed over UAE markets yesterday amid the Arabtec rumours and Emaar Malls’ subscription.

UAE markets lost AED 500 million to AED 809.25 billion as the index closed at slight decline of 0.06% to 5388.13 pts.