By: Mahmoud Gamal
Mubasher: The UAE stock markets are awaiting the decisions which will be taken by Arabtec’s board meeting on Sunday, according to analysts.
Arabtec will hold its board meeting to discuss the continuity of its business as well as the capital restructuring programme.
The blue-chip Arabtec is having a negative influence on the trend of the Dubai Financial Market (DFM), especially after the shocking financial results of fiscal year 2016, capital market analyst Amin Al Hennawy said.
Purchasing Arabtec’s stock in the current time will put investors at risk, which can threaten 75% of their capital, the analyst said, noting that each AED 1 paid in return for the stock is faced with 0.75 losses since Arabtec’s losses are equal to its AED 4.6 billion worth estimated capital.
The DFM’s main index has to exceed the level of 3,580 points in order to reach 3,590 points and 3,608 points, respectively, capital market analyst Muhammad Al Mahdy said.
