{"id":6704,"date":"2016-03-03T22:16:14","date_gmt":"2016-03-03T15:16:14","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=6704"},"modified":"2016-03-03T20:04:41","modified_gmt":"2016-03-03T13:04:41","slug":"arabtec-shares-record-best-week-in-more-than-seven-years","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-shares-record-best-week-in-more-than-seven-years\/","title":{"rendered":"Arabtec shares record best week in more than seven years"},"content":{"rendered":"


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\nArabtec shares rebounded on Thursday, capping the stock’s best week in more than seven years.The construction firm’s shares, which plummeted 20 per cent on Wednesday afternoon following a “sell” note from EFG Hermes, rose by as much as 11 per cent, before settling 8 per cent higher at Dh1.62.”We were surprised because we expected it to fall further today,” said Khaldoun Jaradat, a trading manager at Brokerage House Securities in Dubai.
\n“Many of our clients who sold [on Wednesday afternoon] didn’t close their entire positions, they obviously think the rally’s not done yet.”Arabtec surged 42 per cent for the week, its best weekly performance since February 2009, with both local and foreign investors piling into the stock on speculation that the former chief executive Hasan Ismaik was increasing his stake in the company.Mr Ismaik, who cut his shareholding in the months following his abrupt departure in July 2014, this week raised his stake in the company to 11.91 per cent from 11.81 per cent previously.
\nEFG said on Wednesday that the recent rally in Arabtec was not supported by the fundamentals of the company or the construction sector as a whole.Investors have paid little heed to such warnings, however, with an unprecedented 1.9 billion shares in the firm changing hands during the week.Shares in Dubai Financial Market and Damac were among the other gainers on the Dubai Financial Market General Index, which gained 0.7 per cent at 3,250.22.
\nIn the capital, Etisalat closed up 2.5 per cent at a fresh 11-year high of Dh18.10, on news that the telco’s stock will be included in the FTSE Global Equity Index Series.Etisalat’s inclusion in the index, scheduled to take place after the close of business on March 18, will result in inflows of about $216 million into the stock from various index trackers, according to EFG Hermes.The Abu Dhabi Securities Exchange General Index rose 0.9 per cent at 4,420.51, on gains in UNB, NBAD and ADCB.
\njeverington@thenational.ae
\n
\nSource : thenational.ae
\nRead more…Arabtec shares record best week in more than seven years<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Arabtec shares rebounded on Thursday, capping the stock’s best week in more than seven...<\/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-6704","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\/p75ss1-1K8","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":6704,"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":6444,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-shares-continue-dizzying-rise-in-dubai-after-hasan-ismaik-increases-stake\/","url_meta":{"origin":6704,"position":1},"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":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":6704,"position":2},"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":41558,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-shares-to-be-suspended-from-trading-on-dfm-ahead-of-q4-results-announcement\/","url_meta":{"origin":6704,"position":3},"title":"Arabtec shares to be suspended from trading on DFM ahead of Q4 results announcement","date":"January 23, 2017","format":false,"excerpt":"\r Shares in Arabtec Holding will be suspended from 11.30am pending the release of its fourth quarter earnings statement. A notice from the Dubai Financial Market this morning stated that \"as its Board of Directors meeting is being held today\", the construction firm's shares will not trade until results are\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41560,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-shares-to-be-suspended-from-trading-on-dfm-ahead-of-q4-results-announcement-2\/","url_meta":{"origin":6704,"position":4},"title":"Arabtec shares to be suspended from trading on DFM ahead of Q4 results announcement","date":"January 23, 2017","format":false,"excerpt":"\r Shares in Arabtec Holding will be suspended from 11.30am pending the release of its fourth quarter earnings statement. A notice from the Dubai Financial Market this morning stated that \"as its Board of Directors meeting is being held today\", the construction firm's shares will not trade until results are\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41568,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-shares-suspended-from-trading-on-dfm-ahead-of-q4-results-announcement\/","url_meta":{"origin":6704,"position":5},"title":"Arabtec shares suspended from trading on DFM ahead of Q4 results announcement","date":"January 23, 2017","format":false,"excerpt":"\r Shares in Arabtec Holding have been suspended pending the release of its fourth-quarter earnings statement. A notice from the Dubai Financial Market this morning stated that \"as its Board of Directors meeting is being held today\", the construction firm's shares would not trade from 11.30am until results are disclosed.\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\/6704"}],"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=6704"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/6704\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=6704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=6704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=6704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}