Sunday 1 May 2011

UAE investors expect further positive signs from earnings and IPOs - The National

Investors in the UAE will be watching for an array of catalysts this week including earnings results for the first quarter and the successes of two initial public offerings.

"Most investors have been happy with the earnings announcements from the banking sector coming so far," said Mohammed Ali Yasin, the chief investment officer at CAPM Investment in Abu Dhabi. "The results have helped calm worries, and the details provided gave a healthy indication that the economy is moving on the right track."

Abu Dhabi Commercial Bank's first-quarter profit more than doubled compared with the same period last year, while Emirates NBD showed a 27 per cent jump in profit. Abu Dhabi Islamic Bank's profit for the quarter rose 3 per cent.

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