Local investors have been left bemused in recent months as UAE-listed firms make sharp movements up and down the stock market for no apparent reason.
As a result, the much-bemoaned issue of a lack of transparency has once again come into sharp focus as traders question whether both the market regulator — the Securities and Commodities Authority (SCA) — and public companies are fulfilling their financial disclosure requirements.
In one of the most eye-catching instances, construction firm Arabtec Holding's share price jumped more than 128 per cent in the first two months of the year on unsubstantiated rumours, including speculation the company is on the verge of winning several key infrastructure contracts.
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