Friday 24 July 2015

MIDEAST WEEKAHEAD-Speculators back in Dubai as Amlak shares surge | Reuters

MIDEAST WEEKAHEAD-Speculators back in Dubai as Amlak shares surge | Reuters:



"A surge in shares of Amlak Finance since they returned to Dubai's stock market last month has raised concerns about a new wave of unbridled speculation on one of the region's biggest exchanges.



The Islamic mortgage lender has soared about 150 percent since it restarted trading in early June after a six-year suspension due to debt problems.



At its latest close of 2.52 dirhams, the stock is far above levels considered fair value by fund managers, many of whom put its value well below 1 dirham."



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