{"id":6544,"date":"2016-03-02T17:15:58","date_gmt":"2016-03-02T10:15:58","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=6544"},"modified":"2016-03-02T14:34:30","modified_gmt":"2016-03-02T07:34:30","slug":"arabtec-share-surge-driven-purely-by-rumours-as-recommendation-is-to-sell","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-share-surge-driven-purely-by-rumours-as-recommendation-is-to-sell\/","title":{"rendered":"Arabtec share surge 'driven purely by rumours' as recommendation is to sell"},"content":{"rendered":"


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\nArabtec’s shares extended gains for a fourth consecutive day on Wednesday morning, opening up 6 per cent, even as the stock was downgraded to sell by EFG Hermes.EFG said that this week’s rally in Arabtec shares, which have increased in value by more than 50 per cent since the start of the week, was driven purely by rumours that former chief executive Hasan Ismaik will continue to accumulate stock, and was not backed by fundamentals.
\nMr Ismaik exited Arabtec abruptly in July 2014, subsequently trimming his stake in the company to 11.81 per cent. Mr Ismaik’s decision to increase his stake to 11.91 per cent this week has fuelled a boom in the stock among local investors.”With the exception of Arabtec and Drake & Scull International (DSI), Stocks within our MENA contractors’ coverage have underperformed their corresponding general index,” the bank said in a research note published Wednesday morning.
\n“We believe both [Arabtec and DSI] will follow suit, as the market over-excitement fades away, thus we have Sell ratings on both names.”The Dubai Financial Market General Index opened up nearly 1.5 per cent before paring gains, trading virtually unchanged 45 minutes into the day.In the capital the Abu Dhabi Securities Exchange General Index was trading around 0.2 per cent lower. jeverington@thenational.ae
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\n
\nSource : thenational.ae
\nRead more…Arabtec share surge ‘driven purely by rumours’ as recommendation is to sell<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Arabtec’s shares extended gains for a fourth consecutive day on Wednesday morning, opening up...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-6544","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-1Hy","jetpack-related-posts":[{"id":6552,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-shares-plunge-20-per-cent-as-rally-comes-to-dramatic-end\/","url_meta":{"origin":6544,"position":0},"title":"Arabtec shares plunge 20 per cent as rally comes to dramatic end","date":"March 2, 2016","format":false,"excerpt":"\r \r Arabtec plummeted 20 per cent in the final 90 minutes of trading, bringing the stock's dramatic three-day rally to an abrupt end.EFG Hermes downgraded Arabtec to 'sell' from 'hold', arguing that the construction firm's fundamentals did not justify recent rises in their share prices.The bank argued that the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7068,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-says-ex-ceo-hasan-ismaik-is-not-joining-the-board-of-dubai-contractor\/","url_meta":{"origin":6544,"position":1},"title":"Arabtec says ex CEO Hasan Ismaik is not joining the board of Dubai contractor","date":"March 7, 2016","format":false,"excerpt":"\r \r Rumours that a former chief executive of Arabtec Holding, Hasan Ismaik, will be appointed to its board are false, the Dubai-listed construction firm said on Monday.\"The rumours over the appointment of Mr Hasan Ismaik as chairman or member of the board of directors of Arabtec are false and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6372,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-shares-soar-after-former-chief-hasan-ismaik-raises-stake-in-dubai-builder\/","url_meta":{"origin":6544,"position":2},"title":"Arabtec shares soar after former chief Hasan Ismaik raises stake in Dubai builder","date":"February 29, 2016","format":false,"excerpt":"\r \r Arabtec Holding's former chief executive Hasan Ismaik has increased his shareholding in the builder, sending its shares soaring to their highest level since November.Mr Ismaik's shareholding in the company increased to 11.91 per cent from 11.81 per cent, according to the Dubai Financial Market website. The stock rose\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6444,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-shares-continue-dizzying-rise-in-dubai-after-hasan-ismaik-increases-stake\/","url_meta":{"origin":6544,"position":3},"title":"Arabtec shares continue dizzying rise in Dubai after Hasan Ismaik increases stake","date":"March 1, 2016","format":false,"excerpt":"\r \r Arabtec shares continued their dizzying rise on Tuesday morning, after former chief executive Hassan Ismaik increased his stake in the company to 11.91 per cent on Monday.The Dubai construction firm's shares rose by nearly 12 per cent at the open before paring gains slightly, trading up 7.64 per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6364,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-arabtec-soars-as-ex-chief-hasan-ismaik-adds-to-stake\/","url_meta":{"origin":6544,"position":4},"title":"Dubai's Arabtec soars as ex chief Hasan Ismaik adds to stake","date":"February 29, 2016","format":false,"excerpt":"\r \r Arabtec's former chief executive Hasan Ismaik has added to his stake, helping to boost shares of the construction company the most in more than a year.The former CEO's holdings rose to 11.91 per cent on Monday from 11.81 per cent, according to data on the website of Dubai\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6350,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-arabtec-soars-14-amid-speculation-ex-chief-hasan-ismaik-is-adding-to-stake\/","url_meta":{"origin":6544,"position":5},"title":"Dubai's Arabtec soars 14% amid speculation ex chief Hasan Ismaik is adding to stake","date":"February 29, 2016","format":false,"excerpt":"\r \r Arabtec jumped to the highest in almost four months as traders speculated former chief executive Hasan Ismaik is adding to his stake.The builder soared 14 per cent to Dh1.44 12.15pm in Dubai, the biggest jump since June. More than 368 million shares changed hands, about 14-times the six-month\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/6544"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=6544"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/6544\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=6544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=6544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=6544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}