Wednesday 25 June 2014

MIDEAST STOCKS-Dubai bounces back as Arabtec halts freefall | Agricultural Commodities | Reuters

MIDEAST STOCKS-Dubai bounces back as Arabtec halts freefall | Agricultural Commodities | Reuters:



"Dubai's stock index rebounded strongly on Wednesday from a plunge in the last session as Arabtec, which continued to dominate trading, turned around and other stocks recovered from a string of margin calls.



The Dubai index jumped 6.1 percent in active trade with blue chip Emaar Properties, the top property developer, up 7.1 percent.



Shares in construction firm Arabtec, which had tumbled their 10 percent limit for three sessions in a row, rose 5.1 percent to 3.28 dirhams after the company's chairman pledged it would keep expanding, despite recent management turmoil."



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