Sunday 18 January 2009

Long term outlook and strategy still on course, says Abu Dhabi Securities Exchange

The long-term objectives of diversification, improving transparency and of leading the development of the capital markets in the GCC region remain in place for Abu Dhabi Securities Exchange (ADX) despite 2008 being a challenging year for financial markets across the globe said Tom Healy, ADX Chief Executive.

Announcing a round-up of trading and investment statistics, and achievements for 2008, Mr Healy said that last year was a mixed one for ADX, with performance for the first half of the year being exceptionally strong, but that in the second half all GCC exchanges succumbed to global events.

'The first six months of 2008 saw an unprecedented rise in the volume and value of trading on ADX, with volumes increasing by 93% compared to the same period in 2007', said Mr Healy. 'Also, the total value of equities trading for the whole of 2008 showed an increase of 32% compared to 2007, with Dhs232bn worth of shares changing hands compared to Dhs175bn the year before. Overall volumes for 2008 however dropped by 4% compared to 2007.'

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