MIDEAST STOCKS-Dubai drops as Arabtec concerns linger; FTSE impact on Qatar fades | News by Country | Reuters:
"Uncertainty about the future of Dubai contractor Arabtec Holding put local investors in a bearish mood on Sunday, affecting the whole market, which ended a three-day gaining streak. Most Gulf markets moved little on declining volumes.
Shares in Arabtec tumbled 9.9 percent after failing to hold on to early-session gains and were among the main drags on the Dubai benchmark, which fell 2.3 percent after going up as much as 1.0 percent shortly after the opening.
Arabtec shares have plunged 43 percent this month after one of its main shareholders, Abu Dhabi state fund Aabar Investments, reduced its stake in the firm to 18.94 percent from 21.57 percent."
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