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Wed 4 Jun 2014 03:00 PM

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Abu Dhabi's Dana Gas silent on share boost rumours

Listed energy firm refuses to comment on speculation that it has won case to recover money owed abroad

Abu Dhabi's Dana Gas silent on share boost rumours
Dana Gas

Abu Dhabi-listed energy firm Dana Gas said on Wednesday it would not comment on rumours that pushed its share price 4.8 percent higher a day earlier.

"Dana Gas does not - as a policy - comment on market rumours or speculation or third party statements," it said in a bourse statement.

Shares in Dana Gas shot up on Tuesday, hitting a four-month intraday high, on speculation the firm had won an arbitration case aimed at recovering money owed to it abroad.

Some market participants said the speculation was linked to the company's claims against the government ofIraq's Kurdistan region, while others said the rumour concerned arbitration involving Iran.

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