Dubai's benchmark index finished Tuesday's session at its highest level in four weeks, as Dubai builder Arbatec surged 15 percent after Abu Dhabi fund Aabar Investments nearly doubled its stake in the firm to 10.45 percent, according to a press release from the Dubai Market. Shares in Arabtec jumped 15 percent to finish at their highest price level since March 5. The main index of Dubai climbed 2.4 percent to close at 1694 points, its highest close since March 5. “I think that the equity price movement is linked to the shareholding structure and speculation on whether Aabar will continue to increase its stake, which means that the market will continue its rally,” an analyst told Bikyamasr.com. Hussine Al-Mazen, an Emirati analyst, confirmed that the Abu Dhabi state–owned fund will continue to support Dubai exchange in the coming future. Emaar Properties gains 3.6 percent and Dubai Financial Market rises 6 percent, Sorouh Real Estate and Aldar Properties gain 3.5 and 0.9 percent respectively. Elsewhere, Abu Dhabi benchmark ends 0.1 percent, to finish higher at level of 2564 points.
