Arabtec crosses Dh8 mark during trade on Dubai Financial Market

Abu Dhabi: Arabtec Holding, a UAE-based engineering and construction company, achieved the biggest stock market jump in its history, crossing the Dh8 mark in trade on the Dubai Financial Market (DFM) on Monday.

The company, however, closed at Dh7.98 after recording a 9.47 per cent in the value of trade.

Osama Al Ashri, a member of the Society of Technical Analysts, a British organisation, said the share price increase is part of the company’s targets for the second quarter of 2014.

“There was a rumour that Arabtec withdrew from a project it is working on in Russia, but the company just confirmed that was not true, so that definitely affected trade in its stocks,” he said.