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A wrangle between shareholders at Dubai's largest construction company has had a knock on effect on Dubai's markets. A drop in Arabtec shares left the market down 1.16 percent today as trading closed for the weekend. But analysts say the dip is "nothing significant." Arabtec shares dropped for the first time in more than a week today, leaving Dubai's market down by 1.16 percent at market close. It contrasts sharply with a surge in trading at the beginning of the financial week: the index went up 1.23 percent as traders bought-up Arabtec stock on Sunday. They'd been trading on a high for the last nine days, giving the Dubai Financial Market a much needed boost, says Hussam AlHusseiny, a Chartered Market technician. "This week has many distinguishing features; the last month and half the market, we would often say, was stagnant, low trade volume and low fluctuations. This market is very different than times before. Since the first session of the week, on Sunday a breakthrough in the markets and a big rise in the trading volumes. This was expected because we saw some movement and new price points. And I think the leader of that was the Arabtec stock," he says. But today's downturn in fortune owes much to the company's ongoing shareholder issues. Yesterday, former Arabtec CEO Hasan Ismaik refused to sell part of his company stake to major shareholder Aabar Investments. He walked away from the company in June, but remains the Arabtec's largest shareholder, with a 27.9 percent stake. In July, Aabar's chairman said there was a possibility that Aabar Investments would consider increasing their stake in the future. It currently stands at just under 19 percent. Although not disclosing how much Aabar offered him, Ismaik says he wants over five Dirham ($1.36 US dollars) a share. Al Husseiny thinks there should be an agreement soon. "It is clear from the number of trades on Arabtec on the first day of trade, we saw a big reaction and it was a positive reaction. This shows us that the market is still waiting on something positive especially that we don't know what is happening with Arabtec. The market is discounting the positive things and a big indicator is the proactive dealings that we are seeing. I personally can't speculate too much, but yesterday there was some murmurs in the media about the transferring of shares at certain prices and then the rejection of that. I believe that, personally, we will hear something really soon about the Arabtec stock. And when we know that news then we can justify what is happening in the market," says Al Husseiny. Arabtec is Dubai's largest construction company and has helped transform the city into the Middle East's commercial hub. But investor confidence in the company plunged after a series of setbacks, including Ismaik's resignation. By mid June, shares had tumbled by as much as 70 percent from their peak in May. Now renewed confidence has seen it's shares climb back. Analysts have called today's dip "nothing significant." "These rises, we are talking about a rise of more than 15 percent on the Arabtec stock. And we today we see it going down 1.5 percent. Nothing significant. The market is managing to keep most of its profit on the stocks. The indicator today, for me as an analyst, I am satisfied the levels on which they are trading. The way people are trading; we are not seeing panic selling. This is a natural decline and it is calm. Until now we know that many of the traders have still not entered the market," says Al Husseiny. The DFM ended at 4,928.22 points. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/d6b877cbc381fadfed5040da4a805a91 Find out more about AP Archive: http://www.aparchive.com/HowWeWork