Sunday 23 January 2011

gulfnews : Aldar decline sparks concerns

Negative investor sentiment triggered by Aldar Properties' restructuring plans, which will be dilutive to shareholders, continued to weigh on the UAE markets last week. Aldar declined to a 23 month low and broke below previous support of Dh2.20.

Optimism about a market recovery in 2011 has now turned to caution and renewed concerns about debt restructurings, persistent real estate issues, and the availability of financing. Further, sentiment is not helped by problems in Lebanon, Tunisia and Egypt.

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