Monday 29 October 2012

STOCKS NEWS MIDEAST-Property stocks lift Abu Dhabi to 14-mth high; Dubai down - Yahoo! News Maktoob

Abu Dhabi's property stocks help lift the bourse to a fresh 14-month closing high as its top two developers'
advanced merger talks draw interest, while Dubai's measure slips for a third consecutive session.
Shares in Sorouh Real Estate rise 1.5 percent, while Aldar Properties ends flat. The duo account for half of the traded volumes on the exchange.
In a joint statement earlier this month, the firms said due diligence on their proposed merger was ongoing but the
discussions were at an advanced state, following a senior Sorouh executive saying an announcement would be made within a month.

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