Arabtec Soars After Builder Says No Talks to Leave Dubai Market - Bloomberg:
"Arabtec Holding Co. (ARTC) rose, breaking a four-day losing streak, after the United Arab Emirates’ biggest publicly traded construction company said it hasn’t asked to leave the Dubai bourse.
The shares rose 11 percent, the most in a month, to 5 dirhams at the close. The stock earlier declined as much as 4.2 percent. Arabtec has never discussed taking its shares off the market with the regulator, the company said in an e-mailed statement today. Investor speculation it would remove its shares helped spur a 30 percent decline this week through yesterday.
“The concerns over Arabtec delisting were addressed today by the management, which improved the sentiment and removed potential concerns for investors,” Tariq Qaqish, who oversees the equivalent of $136 million as the head of asset management at Dubai-based Al Mal Capital PSC, said by phone."
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